KUALA LUMPUR, — Malaysia’s national oil corporation, Petronas, is contemplating a court injunction to defend its monopoly on the country’s natural resources amidst escalating demands from Sarawak for increased control over oil and gas extraction and trading.
Sources close to the situation revealed that Petronas is weighing the possibility of filing for a court injunction in the coming days, according to a report published in Channel News Asia today.
This legal move aims to prevent any immediate action by the Sarawak government against Petronas. According to the sources, if Sarawak does not resume negotiations, the dispute could escalate into a full-blown court battle.
Sarawak has given Petronas an ultimatum to finalise an agreement by October 1, granting the state complete authority over the supervision of oil and gas trading.