PETRONAS reported a loss of around RM17 billion in revenue in March to June while the movement control order (MCO) was in effect.

In a written reply to Tuan Noor Amin Ahmad’s (Kangar-PH) question in parliament on the loss of petroleum income throughout the shutdown, Prime Minister Muhyiddin Yassin said the federal government at this juncture did not intend to amend the Petroleum Development Act 1974.

The MCO was introduced on March 18 to curb the spread of Covid-19.

During the early stage of the MCO in March, the price of Brent crude oil fell to US$20.37 per barrel from US$51.80 in February. – Bernama, August 11, 2020.