Prime Minister Anwar Ibrahim says the nation must accept reality and not be overly dependent on volatile Petronas dividend payouts.
PUTRAJAYA: Prime Minister Datuk Seri Anwar Ibrahim stated that Malaysia can no longer be overly dependent on dividends from Petroliam Nasional Bhd (Petronas).
He explained that Petronas operates as a commercial entity whose performance is tied to global oil prices.
“Petronas is a commercial entity. The dividend depends on the performance and the price of petroleum. We have to accept reality,” he said during a briefing with media editors-in-chief.
Anwar said dividend payments are determined by market conditions and the volatile oil and gas industry.
He was responding to questions on concerns over the state-owned company’s declining dividend payout.
“The country, in order to move forward, cannot be too dependent on Petronas’ offerings,” he added.
The Prime Minister noted the government naturally seeks higher dividends for national development.
“As much as we want more dividends, we also have to look at what is happening globally and within the oil and gas industry,” he said.
He emphasised the need to create new business entities and sustainable economic drivers for future revenue.
Petronas is the single-largest contributor to government coffers and Malaysia’s sole Fortune 500 company.
The Finance Ministry expects a RM20 billion dividend from Petronas for 2026.
This compares to the RM32 billion the company has committed to pay for 2025.
Finance Minister II Datuk Seri Amir Hamzah Azizan previously said the 2026 assumption is based on oil prices of USD 60 to USD 65 per barrel.
The event was attended by 92 local and international media personnel. – Bernama
