Unit Tindakan Khas (UTK) telah mengakhiri era kewujudan mereka apabila termaktub semua perjanjian PSC yang selebihnya. Pada masa mereka merangka dan merundingkan PSC, yang turut tertubuh ialah Jabatan Pemasaran Antarabangsa atau “International Marketing Department (IMD)” bagi mengagih minyak mentah ke pasaran antarabangsa dan Jabatan Pemasaran Dalam Negeri atau “Domestic Marketing Department (DMD)” untuk penjualan bahan petroleum di dalam negeri, khususnya melalui stesen-stesen servis.
Visit here and buy books so I have some spending money.
Upstream oil and gas services companies have never really recovered from the 2016 downturn, and the trend in energy transition will pose another challenge in their path towards recovery, said Moody’s Investors Service.
On top of that, prospects for the sector remain weak on the back of recent capex cuts, said Moody’s Investors Service corporate finance group associate managing director Vikas Halan.
“The pain that started back in 2016 for oilfield services companies, when oil prices started declining, has somewhat continued,” Vikas said during Moody’s Inside ASEAN Series’ Media Roundtable today.
“And the oilfield services companies never really recovered from 2016. This round of [capex] cuts is adding further [to that pain],” Vikas said.
Oil and gas companies operating in Malaysia are seeking more clarity on the country’s future direction in the energy transition in line with the global trend of accelerating to a low or zero-carbon future.
ExxonMobil Exploration and Production Malaysia Inc president Edward Graham said most O&G players were finding ways to be cost-competitive and reducing greenhouse gas (GHG) emission.
This was in tandem with the global energy industry’s transition to renewables and low carbon solutions.
Industry players should not urge Malaysia to set too high a target for renewable energy (RE) without thinking about the cost of electricity supply that consumers have to bear, said Minister of Energy and Natural Resources Datuk Seri Dr Shamsul Anuar Nasarah.
In planning the country’s electricity supply, he said the government had taken the approach to balance the three elements in the energy trilemma – guarantee of energy supply, affordability and sustainability.
He said the government had set a RE target of 31 per cent of the generation capacity for 2025, hence, the electricity sector is expected to reduce the intensity of carbon emissions by 45 per cent for the period.
The global oil and gas’ upstream sector has seen significant cuts in capital expenditure (capex) with spending below about US$400 billion in 2020.
This was less than half than the peak in 2014, Petroliam Nasional Bhd (Petronas) executive vice president and chief executive officer (upstream) Adif Zulkifli said.
“Companies had to make important decisions to remain resilient by keeping costs low and margins intact. Projects were put on hold, asset equipment impairments saw an upswing and job cuts were widespread within the industry,” he said in a keynote address at the inaugural virtual Re-Imagining Malaysia Assets (Reset) 2021 Conference here today.
PLAYERS in the oil and gas (O&G) services sector are still figuring out the direction of the country’s energy transition plan, which could guide the industry towards a more synergistic process in charting the course for a zero-carbon future in tandem with the global trend.
Malaysian Oil and Gas Services Council (MOGSC) president Sharifah Zaida Nurlisha Syed Ibrahim said more clarity on the issue could be furnished by major players in the field, along with other relevant stakeholders.
She said local O&G services companies are committed to finding and delivering the best solutions for the industry according to the country’s aspiration of future energy production and consumption.
Oil and gas will continue to make up a significant portion of the energy mix, although at a declining trend of 47 per cent by 2040 from about 54 per cent in 2018 due to the growth of renewable energy.
Petroliam Nasional Bhd (Petronas) executive vice-president and chief executive officer, upstream, Adif Zulkifli said as an industry tasked with catering to the growing energy demand, it was critical for the national oil company to continue to deliver energy that was affordable, secure and sustainable.
“This is where the challenge lies. We need to do it safely, at the lowest cost possible to ensure we are resilient and additionally, at low carbon which means that we need to ensure that we need to drive carbon emissions levels down from current levels,” he said in his keynote address at the inaugural Re-Imagining Malaysia Assets (RESET) 2021.
Malaysia’s state oil company Petronas signed an agreement with Brunei on Monday to jointly develop two offshore oilfields.
The Gumusut-Kakap and Geronggong-Jagus East fields straddle the two countries’ maritime boundary. The tiny sultanate of Brunei is surrounded by the Malaysian state of Sarawak on the north coast of the island of Borneo.
“Having now formalised this landmark agreement, Petronas believes that both parties can look forward to continuing the strong momentum towards developing our nations’ energy sectors for the long-term growth and prosperity of both Brunei and Malaysia,” said Petronas group CEO Tengku Muhammad Taufik said in a statement.
For my sins, I have been honoured to be one of the Programme Subcommittee Members for this event.
The role of a Technical Programme Subcommittee member is to develop the technical programme for the conference. They support the Subcommittee Chair and Vice Chair in carrying out committee responsibilities.
So, please support us if you are able. I know the costs are high, and that authors and presenter have to pay their way (really? Sounds like predatory journal tactics to me), but If you could support me, it would help me make targets.
THERE was a rush to install solar panels on commercial premises last year, as rumours started circulating that the government would no longer provide one-on-one credit for the Net Energy Metering (NEM) programme.
According to Steven Chiew, the founder of Next Energy, the rush for the rooftop segment at the end of last year was because the quota for NEM2.0 had almost been taken up. A lot of businesses wanted take advantage of the one-on-one credit benefit as it has been proven to reduce electricity cost.