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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Visit here and buy books so I have some spending money.


Asia Gas Hub, UTP pens MoU to collaborate on establishing digital gas marketplace

September 30, 2022

There’s a AGH? And whatthe heck is digital gas? Mine has always been analog.

Dateline 2022-06-28, Malay Mail:

Energy market solutions provider Asia Gas Hub (AGH) has collaborated with Universiti Teknologi Petronas (UTP) and signed a memorandum of understanding (MoU) to establish a digital marketplace.

In a statement today, AGH Chief Executive Officer Faris Mustaffa said that the MoU will be in force for a period of three years and the cooperation with UTP will enhance the development of the required systems for the Malaysian gas market to operate on a level equal to that of more mature markets, such as in the US or Europe.


Gov’t reiterates that fuel subsidy bill is projected to be RM30 bil for 2022, based on current global oil prices

September 30, 2022

Ah, so about 0.6 1MDB then (USD 4.5 billion)

Dateline 2022-06-24, Paultan.org:

The government has reiterated that the country’s fuel subsidy bill for 2022 is projected to rise to about RM30 billion, based on global oil prices being what they are at present. In May, that projection for 2022 was placed at RM28 billion, but this was then revised to RM30 billion earlier this month.

Economy minister Datuk Seri Mustapa Mohamed said this would be 170% higher than the RM11 billion spent on fuel subsidies last year. He said that the year-to-date Brent crude oil price currently stands at around US$106 per barrel, a discrepancy of US$40 against the federal Budget 2022’s assumption that the average crude oil price would be priced at US$66 per barrel.


Govt feels the heat as more switch to subsidised fuel

September 29, 2022

So, this targeted subsidy thing…

Dateline 2022-06-24, FMT:

Even those who can afford luxury cars are feeling the pinch of a rise in prices at the pump.

More than 90% of vehicle owners who regularly used RON97 petrol have switched to the cheaper RON95.

The trend is not expected to reverse anytime soon with costs of other essentials and food also rising.

Petrol Dealers Association Malaysia president Khairul Annuar Aziz said most petrol dealers were selling upwards of 2,000 litres of RON97 per month previously. “Now we are making do with just 200 litres,” he told FMT Business.


Shell, Petronas and PTTEP advance in Malaysia

September 28, 2022

Interesting. Dateline 2022-06-24, Upstream:

Leading operators in Malaysia are forging ahead with plans for the Sarawak Integrated Sour Gas Evacuation System (SISGES) project, which is expected to be the catalyst for further development of untapped sour gas resources off the coast of Sarawak.

The offshore area hosts trillions of cubic feet of unexploited gas resources but many have high carbon dioxide and/or hydrogen sulphate contents that will require technologies and solutions — such as carbon capture and storage — if these are not going to be left sub-surface.


PSA – Help Fund Rescue Cat Vet Fees

September 27, 2022

My daughters’ hearts are bigger then their wallet. They take in abandoned and lost furry babies and give them a fighting chance. Encourage them and others. If it fits your priorities and interest, please give all you can. Or participate in a Trap, Neuter, Release (TNR) or vaccination program in your area.

Medical Aid for Hospitalized Cat – Kitafund


AER Shoutout – 2022-09

August 30, 2022

I’ll be at IEM Sabah this Saturday, promoting AER. Come along and say high. Get info and register here.

And for our last shenanigans at AFEO mid-term meeting, start with the Chillex regional webcast, and follow the rabbit hole down.


Malaysia delays latest licensing round

August 23, 2022

Waiting for IGL’s bid, I see.

Dateline 2022-06-18, Upstream:

Petronas’ Malaysia Petroleum Management (MPM) has delayed the deadline for bid submissions for ongoing licensing round Malaysia Bid Round 2022 (MBR 2022).

Without elaborating, MPM said the deadline has been pushed back from 30 June to 15 July 2022.

While no reason was given, such moves are typically due to prospective bidders requesting more time to review the available data and prepare their submissions, or potentially because of a lacklustre response to date as the original deadline looms.


Sarawak deputy minister: Sales tax on petroleum products gains more than 20pc royalty promised by PH in GE14

August 22, 2022

Dateline 2022-06-11, Malay Mail:

The state’s revenue collection this year from the sales tax on petroleum products exports would exceed the figure from the 20 per cent royalty proposed by Pakatan Harapan (PH) in its manifesto for the 14th general election.

Deputy Minister in Premier of Sarawak’s Department (Labour, Immigration and Project Monitoring) Datuk Gerawat Gala said this would translate into rural Sarawak benefitting from greater infrastructure and economic development.


Finance minister: Govt has enough money to continue fuel subsidy amid rising global crude oil prices

August 19, 2022

See, we aren’t in trouble? Till we are.

Dateline 2022-06-10, Malay Mail:

The government still has sufficient funds to continue to provide fuel subsidy to the people despite rising global crude oil prices.

Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said the government still has enough money and will continue to support the people in terms of protecting their livelihoods, especially that of the vulnerable groups.

“Our inflation target (this year) is still within what we have said before ― between 2.3 and 3.3 per cent,” he told reporters after the launch of the Khazanah Sustainability Framework & Targets: Investing in a Sustainable Transition 2022 here, today.


Petronas to Double Capex to $14 Billion on Project ‘Catch-Up’

August 18, 2022

And when does this trickle down to us bottom feeders?

Dateline 2022-06-09, Bloomberg:

Malaysia’s national oil company Petroliam Nasional Bhd. plans to double its capital expenditure to 60 billion ringgit ($14 billion) this year from 2021, as business activities normalize following the lifting of Covid-era restrictions.

Many of its projects were delayed due to the pandemic and “there’s a lot of catch-up that’s happening this year,” Group Chief Financial Officer Liza Mustapha said in a conversation with MIDF Group’s Managing Director Charon Wardini Mokhzani on Thursday.

Petronas expects to post a “triple-digit” growth in revenue this year amid high oil prices, Liza said. Its first-quarter profit more than doubled to 23.4 billion ringgit from a year earlier on the back of a 50% jump in revenue.