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KOTA KINABALU: Any shift in oil and gas management between Petronas and Petros requires legal amendments approved by both the federal and Sarawak governments said former Prime Minister Tun Dr Mahathir Mohamad.

“And these must be agreed upon by both the federal and state governments,” he said in his podcast.

He stressed that Petronas holds exclusive rights under the Petroleum Development Act 1974 and changes can't happen without reform.

“As long as the law is in force, we can’t simply allocate or separate part of it to Sarawak,” he said, suggesting Sarawak could be given a bigger role through other means.

Mahathir warned that splitting management could harm Petronas’s global standing, noting it’s the only Malaysian company in the Fortune 500.

“If we’re not careful, we may lose something extraordinary,” he said, citing Petronas’s rare global reach compared to even oil giants like Saudi Aramco.