Extract from “Tuah Jebat” – Warisan Perintis

November 5, 2016

 

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.

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Cover Story: Petronas seeks to clear the air

May 24, 2022

And PETRONAS will give lip service, no? I don’t see rates going up.

Dateline 2022-04-28, The Edge:

While most of the news was positive, there were also allegations made by the Malaysian Oil & Gas Services Council (MOGSC) and Malaysia OSV Owners’ Association (MOSVA) that Petronas had been squeezing them to cut corners and, as a result, the national oil company generated huge profits at the expense of O&G players.

Both MOGSC and MOSVA wrote to Petronas in February, stating their grouses. The Edge, which was given a copy of their letters, ran a story on the issues raised by the two organisations last month.


My Say: Cyber risks in Malaysia’s oil and gas industry

May 23, 2022

Dateline 2022-04-28, The Edge:

There are two fronts in the Russian invasion of Ukraine: one is the physical fighting and airstrikes and the other is in cyberspace, where cybersecurity experts are battling disinformation, psychological warfare and cyberattacks. Cyberattacks of this nature can and have led to power outages, railway disruptions, interruption of electoral polling systems and, in the case of the war in Ukraine, a disruption of its biggest fixed-line telecommunications network and the ever-present threat of a cyber catastrophe.

The oil and gas (O&G) industry is not immune to these kinds of vulnerabilities. The May 2021 Colonial pipeline hack in the US not only compromised the business’ networks and shut down its operations but also deprived the East Coast of a pipeline that supplied nearly half the region’s fuel. Russia’s invasion of Ukraine on both the physical and cyber fronts have exacerbated fears of future cyberattacks by malicious actors on critical energy infrastructure to gain financial, criminal or geopolitical advantage. Findings from the State of Ransomware 2021 revealed that 43% of energy, O&G and utility firms have admitted to paying ransom for ransomware assaults. Another 23% of these firms expect to be affected by ransomware in the future.


Malaysia’s Petronas sees higher demand as focus turns to energy security

May 22, 2022

Dateline 2022-04-27, Zawya:

Malaysian state energy firm Petronas is seeing growing demand for gas as the world lifts COVID-19 restrictions and prioritises energy security due to Russia’s invasion of Ukraine, its chief of upstream operations told Reuters on Wednesday.

Petronas, the world’s fourth-biggest producer of liquefied natural gas (LNG), has seen high demand from Europe, Japan and South Korea since last year, said Adif Zulkifli.

“We are producing the maximum that we can now. There’s a lot of requests for more cargoes in Bintulu,” said Adif, referring to Petronas’ massive LNG complex in the eastern state of Sarawak.

“To increase production is not as easy,” because of under-investment in recent years, he said.


Malaysia’s biodiesel group opposes reduction of biofuel mandate

May 21, 2022

Dateline 2022-04-26, Reuters:

Malaysia should not cut its biodiesel mandate as it would lead to a crash in crude palm oil prices, a biodiesel producer group said on Tuesday, after Indonesia’s export ban on the edible oil spurred concerns over its use in fuel versus food.

The Malaysian Palm Oil Board (MPOB), an industry regulator, told Reuters on Monday countries should slow the use of the edible oil as biofuel to ensure adequate supply for use in food, warning of a supply crisis following Indonesia’s ban.


Govt to kick off 15 initiatives this year to grow OGSE industry

May 20, 2022

Hahahahahaha.

Dateline 2022-04-26, The Edge:

The Economic Planning Unit (EPU) and Malaysia Petroleum Resources Corporation (MPRC) plan to kick off 15 initiatives this year under the National Oil & Gas, Services and Equipment (OGSE) Industry Blueprint 2021-2030.

Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said the 15 initiatives, aimed at strengthening and growing the OGSE industry, will continue to address systemic issues confronting the sector, specifically in the areas of technology, talent, and funding.

“EPU, alongside MPRC, will continue to work closely with ministries, agencies, Petronas, industry players and relevant stakeholders to realise the vision and goals set out in the OGSE blueprint,” he said at the second steering committee meeting for the blueprint.


Govt looking at targeted fuel subsidy mechanism, says Mustapa

May 19, 2022

This happen?

Dateline 2022-04-26, FMT:

The government is likely to introduce a targeted fuel subsidy mechanism, especially for the lower income group, to cushion the impact of rising crude oil prices.

Economic affairs minister Mustapa Mohamed said the government was still working on a suitable structure and expected it to be completed soon.

He also noted that the finance ministry was currently looking at whether the government was able to bear the subsidy as prices for RON95 petrol and diesel remained for the time being.


Petronas Dagangan Bhd says in close communication with Finance Ministry on fuel subsidy bills

May 18, 2022

Dateline 2022-04-25, The Star:

Petronas Dagangan Bhd (PDB) is in close communication with the Ministry of Finance on the increase of fuel subsidy bills amid the rising global crude oil prices.

PDB managing director/chief executive officer Azrul Osman Rani said PDB understood the current predicament with the higher crude oil prices impacting Malaysia and other nations.

“If we look at Thailand today, we are looking at RON95 equivalent to RM5 (per litre). In Singapore, it is close to RM10 (per litre).


How Sapura Energy got into the mess it is in

May 17, 2022

Dateline 2022-04-23, The Edge:

Sapura Energy Bhd is on the verge of bankruptcy, only three weeks shy of the 10-year anniversary of the mega-merger between SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd, which created SapuraKencana Petroleum Bhd back in mid-May 2012.

Its name was changed to the current one at end-March 2017.

From a merger valuation of RM11.85 billion, Sapura Energy’s market capitalisation swelled to RM28 billion in early 2014, following the acquisition of Seadrill’s rig business and Newfield’s Malaysian assets. At its peak, Sapura Energy was the world’s second largest integrated oil and gas service provider.


Petronas signs production sharing contract for Block SK247 off the coast of Sarawak

May 16, 2022

Dateline 2022-04-22, The Edge:

Petroliam Nasional Bhd (Petronas) has signed a production sharing contract (PSC) with its new investor SK earthon Co Ltd and Sarawak-owned oil and gas company Petroleum Sarawak Exploration & Production Sdn Bhd (PSEP) for Block SK247 off the coast of Sarawak.

Block SK427 is located within the prolific area of Balingian and Tatau hydrocarbon provinces covering an area of 3,349 sq km, according to Petronas in a statement on Friday (April 22).

“The block is situated in a proven hydrocarbon system and has promising hydrocarbon potential to be unlocked. Several significant hydrocarbon discoveries were made in 2021 in the Balingian province near the block, namely Sirung-1 and Hadrah-1 wells,” Petronas said.


PSA: Rescue Kitties looking for forever home.

May 15, 2022

Good day. Rescue kitties looking for a forever home. Spay your pets. Or kill your unwanted humanely.
Please spread the word. Our office can’t take any more rescue cats. We don’t have enough keyboards.