Running for IEM VP 2019

March 8, 2019

I am running for a VP post in the Institution of Engineers Malaysia. If my past work and passions with the IEM is something you want to see at a higher level, and like the set of my jib (no, not that ‘Jib), please vote for me. If you can spread the word with your endorsement, much appreciated. Whatever the outcome, please engage with IEM and me for the betterment of the profession.


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.


CLIQ Energy to be delisted on March 4

March 26, 2019

Dateline 2019-02-27, The Sun:

CLIQ Energy Bhd will be delisted from Bursa Malaysia on next Monday, March 4, the company said today.
“The entire issued share capital of CLIQ will be removed from the official list of Bursa Securities with effect from 9am, March 4, 2019 pursuant to Paragraph 16.11(1)(d) of the Main Market Listing Requirements of Bursa Securities,” it told Bursa Malaysia in a filing.
CLIQ, which is the second oil and gas special-purpose acquisition company (SPAC) to list on Bursa Malaysia, announced in February 2016 that it would be liquidated after failing to secure its qualifying acquisition within three years.
Trading in its shares was suspended on Oct 5, 2016.


Limited output disruption from fire at Malaysia’s Bintulu LNG plant: sources

March 25, 2019

Dateline 2019-02-25, S&P Global:

Malaysia’s Bintulu LNG plant is expected to experience limited production disruptions or cargo loading delays after a fire broke out at the plant on Friday morning, industry sources told S&P Global Platts.
Authorities at the Petronas facility have gotten the situation under control and there is little likelihood of a significant production impact as a result, according to two sources familiar with the matter.


Gauging the O&G recovery

March 24, 2019

Dateline 2019-02-25, The Edge:

Two months after hitting fresh record lows, share prices in upstream oil and gas (O&G) companies have recouped some losses after crude oil prices staged yet another climb this year.
However, the backdrop is eerily similar to 2018 — Opec extended production cut, which lifted oil prices and consequently the O&G counters regained some shines, share prices rebounded from multi-year lows.


Give Sabah all its oil and gas revenue: Lind

March 23, 2019

Dateline 2019-02-25, Daily Express:

Senator Datuk Theodore Douglas Lind (pic) has urged that Sabah be given all its oil and gas revenue, instead of just 20pc, as announced by Prime Minister Tun Dr Mahathir recently.
Speaking during a recent debate on the 11th Malaysia Plan Half-Term Study, Lind hailed Dr Mahathir’s announcement but said it should be 100pc because Acts of Parliament that gave powers to the Federal Government such as the Continental Shelf Act 1966 and Petroleum Mining Act 1966 (revised 1972), which existed during the emergency times, had been automatically nullified when the Agong’s emergency declaration on May 15, 1969 was voided by the Dewan Rakyat on Nov 14, 2011 and Dewan Negara on Dec 20, 2011.


Oil and gas sector hires more local graduates, trims forex losses

March 21, 2019

Dateline 2019-02-19, NST:

Skilled local workforce has helped major oil and gas (O&G) cushion the global weak oil prices, ringgit fluctuations and foreign exchange (forex losses) over the past few years.

Analysts said companies such as Petroliam Nasional Bhd (Petronas), Sapura Energy Bhd, Alam Maritim Bhd, Barakah Offshore Bhd and others has hired local professionals and technical and vocational education and training (TVET) graduates to reduce costs, which is part of the companies’ cost cutting measures.

Sunway University Business School Professor of Economics Dr Yeah Kim Leng said the O&G sector is a very specialised high technology sector which requires a lot of specialised skills to work at oil rigs and fabrication yards.

“In the early days, these niche areas required foreign expertise and was dominated by expatriates but now firms such as Petronas and Sapura no longer hire foreign professionals but source local engineers from the O&G field.

“This in turn has enabled the country to save a lot in terms of foreign exchange as it is very expensive to pay the foreign engineers.

“Now Malaysia is able to produce its own local oil and gas engineers, technicians and supervisors,” Yeah told NST Business recently.


IEM Shout Out – 2019-03 Technical Visit to HB Laboratories Sdn Bhd

March 19, 2019

My technical division will be hosting a visit on the 26th March, 2019.

HB LABORATORIES SDN BHD is a growing oil field and water treatment chemical company offering cutting-edge specialty chemical technology, innovative solutions and integrated industrial processes management to its customers in the oil and gas industry in Malaysia. HB Laboratories’ core businesses comprise of local chemical products development, manufacturing, marketing, distribution and provision of technical support and services in relation to chemical applications and performance monitoring to its customers. The company aimed at having chemical formulation and manufacturing as the core business activities beginning with supporting local oil chemical service companies and later supporting traders and service companies in the neighbouring regions, with an ultimate goal of becoming its own regional oil full service company.

Register here, or download the form here.


Local O&G companies continue to be hurt by 2014 oil rout

March 18, 2019

I hurt.

Dateline 2019-02-18, Malaysian Reserve:

The 2014 global oil rout continues to impact the oil and gas (O&G) sector in the country.
Perisai Petroleum Teknologi Bhd’s regularisation plan was rejected by Bursa Malaysia and its share was suspended on Jan 22. The company had appealed the decision on Feb 8 and its official delisting from the Main Market is pending the outcome of the appeal.
CLIQ Energy Bhd distributed RM6.12 million from its trust account to shareholders on Jan 31 after the special-purpose acquisition company failed to secure a qualifying asset within the three-year deadline and will soon be delisted.
Scomi Group Bhd is also reeling from the 2014 oil fiasco.