Monday, June 9, 2008

How much we produces (Petroleum)?

"Roughly Malaysia produces 650,000 barrels of crude per day. We consume 400,000 barrels leaving 250,000 barrels to be exported.

Three years ago the selling price of crude was about USD30 per barrel. Today it is USD130 – an increase of USD100. There is hardly any increase in the production cost so that the extra USD100 can be considered as pure profit.

Our 250,000 barrels of export should earn us 250,000 x 100 x 365 x 3 = RM27,375,000,000 (twenty seven billion Ringgit).

But Petronas made a profit of well over RM70 billion, all of which belong to the Government.

By all accounts the Government is flushed with money."

I would like to present the data (above) from EIA (Energy Information Administration) for your kind perusal.

Yeah we are the Nett Exporter.


  1. Petronas should not be blamed for this. All the moneys go back to the government. We should question more - the current government under Pak Lah.

  2. Petronas & govt = same shit!