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The commission was established under the Energy Commission Act 2001. Its key role to ensure that the energy industry is developed in an efficient manner so that Malaysia is ready to meet the new challenges of globalisation and liberalisation, particularly in the energy supply industry.
On 16 July 2010 subsidies for petrol, diesel and LPG were cut as part of Malaysia's general programme of reducing and rationalising subsidies per the 10th Malaysia Plan and the New Economic Model. The government believes it will save RM750 million by the end of 2010 through these measures with little negative impact on most citizens.
The Royal Malaysian Customs Department (Abbr.; RMCD; Malay: Jabatan Kastam Diraja Malaysia – JKDM; Jawi: جابتن كستم دراج مليسيا ); is a government department body under the Ministry of Finance. RMCD functions as the country's main indirect tax collector, facilitating trade and enforcing laws.
On 1 December 2014, the government of Malaysia officially ended the subsidy of all fuels, taking advantage of low oil prices at the time, potentially saving the government almost RM20 billion ringgit (US$5.97 billion) annually. A managed float mechanism has been put in place where prices would adjust according to the market rate. [4]
Equinor and Global Petro Storage (GPS) have entered into a long-term agreement to build and operate a terminal and storage facility for liquefied petroleum gas (LPG) at Port Klang in Malaysia, the ...
Malaysia LNG is a subsidiary of the Malaysian national oil and gas company Petronas, which is a majority shareholder in all three LNG Ventures (MLNG Satu, MLNG Dua and MLNG Tiga). Besides Petronas, Royal Dutch Shell, Mitsubishi , JX Nippon Oil and the Sarawak Government hold a minority stake.
National Institutes of Biotechnology Malaysia** (NIBM) MIMOS Berhad** NanoMalaysia Berhad** Malaysian Industry-Government Group for High Technology** (MiGHT) Cradle Fund Sdn. Bhd. (CRADLE) Malaysian Research Accelerator for Technology & Innovation (MRANTI) Malaysian Nuclear Agency (Nuclear Malaysia) Malaysian Space Agency (MYSA)
In October 2020, Sarawak government issued mining leases in Miri and Marudi to Petros for onshore oil and gas mining. [50] In year 2020, Petros started to distribute liquefied petroleum gas (LPG) to 1,500 business and 2,500 households in Miri and Bintulu. [51] In December 2020, Petros launched its own brand of LPG gas cylinder. [52]