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.
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Posted by Wata
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.
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Posted by Wata
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.
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Posted by Wata
March 17, 2019
Dateline 2019-02-18, Malay Mail:
The government is now in the final phase of identifying eligible recipients of targeted petrol subsidies to be implemented in the second quarter of this year.
Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail said this was the result of a series of discussions held with gas station operators and consumer associations.
In addition, the Ministry of Finance will also at any time announce the selected vendor to develop a targeted RON95 petrol subsidy programme implementation system, he said in his speech at the opening of the BHPetrol Sepang-Lukut fuel station owned by Seng Group of Companies here today.
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Posted by Wata
March 16, 2019
Dateline 2019-02-13, The Borneo Post:
The Sarawak government has been praised for introducing its own sales tax for petroleum products.
Stressing that economic growth is about strategy and bold decision, Associate Professor Dr Fatimah Kari of Universiti Malaya (UM) said Sarawak is actually deprived of the profits of the true value of its resources despite being at the top of the country’s social prosperity indicator by virtue of its position as an oil and gas producer.
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Posted by Wata
March 15, 2019
And congratulations Mohd Yazid Ja’afar .
Dateline 2019-02-08, Sarawak Tribune:
Malaysian oil and gas services and equipment (OGSE) companies must diversify their businesses to remain competitive amidst signs of greater market volatility in 2019, said Malaysia Petroleum Resources Corporation (MPRC).
Deputy chief executive officer Mohd Yazid Ja’afar said while oil prices had risen since the beginning of the year, concerns about a supply glut and weakness in the global economy would keep prices on a tight leash, as evident from the general cautiousness of global oil companies and their continuous push for cost efficiencies.
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Posted by Wata
March 14, 2019
Dateline 2019-02-11, Malay Mail:
The oil and gas (O&G) industry, Malaysia’s second highest export earner after electrical and electronics, will continue to be a focus area for the government this year amid the volatility in oil prices.
International Trade and Industry Deputy Minister Ong Kian Ming said while tackling weakening crude oil prices, Malaysia was also giving attention to downstream products.
“We are giving attention to downstream products and do expect (investment) activities due to the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang.
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Posted by Wata
March 13, 2019
Note that the article is focussing on downstream activities, not us muck in the mud folks.
Dateline 2019-02-07, The Sun:
More of Malaysia’s oil and gas services and equipment (OGSE) companies are expected to set their sights on the downstream sector mainly in the maintenance, repair and overhaul (MRO) segment with the completion of Petronas’ Pengerang Integrated Complex (PIC) in southern Johor said Malaysia Petroleum Resources Corp (MPRC).
According to its “Top 100 OGSE Companies in Malaysia FY2017” report, while volatility of the oil price is expected to persist in 2019 global oil and gas development activities are expected to increase in the coming years, with operators aiming to move forward to develop new offshore fields, particularly those located in deep waters.
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Posted by Wata
March 12, 2019
Yea, MPRC is still around.
Dateline 2019-02-08, The Star:
MISC Bhd led Malaysia Petroleum Resources Corp’s (MPRC) latest list of Top 100 Malaysian oil and gas services and equipment (OGSE) companies, ranked in order of annual revenue for financial year 2017.
The list showed MISC edging out Sapura Energy Bhd, which was FY2016’s top ranked company. Dialog Group Bhd meanwhile has maintained its position at third place.
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Posted by Wata
March 11, 2019
Dateline 2019-02-07, The Star:
Creating awareness of opportunities, offering mentoring and support, and having the infrastructure in place to allow women to return to work after starting a family can go a long way towards narrowing the gender gap in the engineering profession.
“On my first trip offshore, I was the only woman on a CAT3 barge of over 200 men – and the prettiest one on board,” Hani Zahira Zaharudin recalls. Though the 26-year old project engineer’s anecdote is laced with humour, it reflects the more serious reality of the gender gap prevalent in the engineering profession.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 