Oil output cut: M’sia to gain in form of lower depletion rate

January 10, 2017

Dateline 2016-12-19, NST:

NON-Organisation of the Petroleum Exporting Countries (Opec) producers, including Malaysia, will stand to gain from the recent agreement by the cartel to cut production. “Malaysia’s oil and gas (O&G) sector, including the supporting industries, will benefit from higher oil prices even with a lower production volume. The net impact depends on the relative volume or prices,” Sunway University Business School economics professor Dr Yeah Kim Leng told Business Times yesterday. Malaysia and 10 other non-Opec producers agreed on Saturday to cut their oil output with the aim of ending the crude glut and reversing the fall in income, following the Opec agreement.

 

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Posted by Wata

Saturday Star 2017-01-07 – Job Opportunities

January 9, 2017

Happy Sherlock Week. IGL has pivoted into training, so book your seats now.

We’re thinking of republishing Young Turks of PETRONAS, but it’s a minimum 500 book printing run. Do I have enough interested persons to purchase?

Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I have a feeling that The Star isn’t the preferred O&G job recruitment portal now. I see more adverts via social media. What do you think, is it a step change that the papers need to embrace?
  • I’m looking for jobs for 2Q2017. Send me your POs.

Food choice of the week? I would suggest visiting Sudu & Garpu, SS15.

Seeing that Joe Dever has passed away, you may want to revisit his books:

Flight from the Dark (Lone Wolf, Book 1), Legends of Lone Wolf Omnibus 1, War of the Wizards (The World of Lone Wolf, Book 4)

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

Shamsul Azhar Resigns From Petronas Gas On Jan 1

January 8, 2017

In case you missed this.

Dateline 2016-12-09, Malaysian Digest:

Petronas Gas Bhd Chairman Tan Sri Shamsul Azhar Abbas, 64, will resign from the company on Jan 1, 2017, after helming the company for about a year, the company announced in a filing to Bursa Malaysia.

Petroliam Nasional Bhd (Petronas) Executive Vice-President and Chief Executive Officer (Upstream) Datuk Anuar Taib, 48, would succeed Shamsul who has expressed intention to resign due to time constraint as he currently served on the board of various Malaysian and overseas companies.

Anuar, 48, joined Petronas in 2012 as Chief Executive Officer of Petronas Development and Production before subsequently promoted to Senior Vice-President of Petronas Upstream Malaysia.

Petronas Gas also announced the resignation of non-independent and non-executive director Datuk N. Sadasivan Pillay, 75, effective Jan 1, 2017.

…

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Posted by Wata

Landmark Opec deal fuels local O&G stocks

January 7, 2017

Did you catch the price rise wave, or mistimed and was caught in the trough?

Dateline 2016-12-02, NST:

Oil and gas (O&G) stocks rallied yesterday after Organisation of the Petroleum Exporting Countries (Opec) agreed on Wednesday to cut output for the first time in eight years.

Among the gainers were Deleum Bhd, Dayang Enterprise Holdings Bhd, UMW Oil & Gas Corp Bhd, SapuraKencana Petroleum Bhd and Uzma Bhd.

Leading the pack was Deleum, with the counter jumping 10.5 sen, or 12.8 per cent, to 92.5 sen, with 4.97 million shares traded.

Crude oil prices steadied around US$53 (RM236.90) a barrel yesterday, holding on to big gains made after Opec and Russia agreed to restrict production.

In the meeting, Opec members agreed to cut oil output by almost 1.2 million barrels per day from January to June next year.

…

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Posted by Wata

Ophir field achieves first oil

January 6, 2017

Dateline 2017-11-11, Asian Oil & Gas:

Octanex said first oil has been achieved at the Ophir field, offshore Malaysia, following commencement of production from the field on 20 October.

Production during this period was constrained to a maximum of 3000 bo/d. A de-bottle necking phase of commissioning is underway, and Octanex expects that the first lifting of Ophir crude will occur in December 2017.

The Ophir field with a water depth of approximately 70m and has been developed via three production wells, a wellhead platform and floating production storage and offload (FPSO) vessel.

…

 

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Posted by Wata

Shell confirms oil leak in Port Dickson

January 6, 2017

Dateline 2016-12-02, Malay Mail:

Shell Refining Company Port Dickson (SRC) confirmed that oil sheen discovered near the SRC jetty in Batu 1, Jalan Pantai Port Dickson, here at 6.30pm yesterday was from its single buoy mooring (SBM).

SRC in a statement here today said SRC immediately activated and mobilised it’s Response Team to the area to investigate the sheen and manage the situation.

“The source of the leak was quickly identified to be from SBM and the team has managed to isolate the source and stop any further leak into the environment. SRC is now focussed on minimising any impact to the environment and clean-up efforts are underway.

“The cleaning activity of the oil sheen and the safety of the community and the responders are our utmost priority. We are working closely with the relevant local authorities such as the Fire and Rescue Department and the Department of Environment on the clean-up efforts,” it said.

…

 

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Posted by Wata

‘More pros than cons to having nuclear plant’

January 5, 2017

Dateline 2016-11-29, The Sun:

Having a nuclear power plant has more advantages for the nation rather than disadvantages, said Malaysian Nuclear Agency (Nuclear Malaysia) Director-General, Datuk Dr. Muhamad Lebai Juri.

However, he added, they have to justify to the government on the need to have such a plant in Malaysia.

Speaking to reporters after officiating the Radiation Protection conference and workshop 2016 here organised by the Malaysian Radiation Protection Association (MARPA) in collaboration with Malaysian Nuclear Agency and Atomatic Energy Licensing Board (AELB) today, he said: “We can develop nuclear power as part of our energy mix strategy like other countries do.”

For that, he added, they need to maximise their energy resources such as hydraulic power first in order to develop nuclear power if they really need it.

Muhamad Lebai said the public need to be educated on the pros and cons of having a nuclear power plant, especially now with technological advancements.

…

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Posted by Wata

Marketing Rounds – Mecomb

January 4, 2017

For all the times I have seen their name on documents, I haven’t actually been to Mecomb’s sanctum sanctorum.

img_20161104_144157

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THHE shifting business focus

January 3, 2017

Dateline 2016-11-28, NST:

TH Heavy Engineering Bhd (THHE) is shifting its business focus from oil and gas to supplying offshore patrol vessels (OPV), said Tabung Haji group managing director and chief executive officer Datuk Johan Abdullah.

He said the company might not be big on oil and gas any more as it wanted to focus on OPV contracts.

“It already has a fabrication yard. In Malaysia, we have only two. In China, 80 per cent of its fabrication yards are empty, which shows how bad it is in terms of oil and gas businesses on fabrication.

“What was being updated to me is that it is going to shift in terms of business focus,” he told the New Straits Times.

He said this when asked about updates on THHE following the arrest of its former CEO and two other personnel by the Malaysian Anti-Corruption Commission (MACC) on Nov 14.

…

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Posted by Wata

Saturday Star 2016-12-31 – Job Opportunities

January 2, 2017

Happy mess up check writing week. IGL has pivoted into training, so book your seats now.

We’re thinking of republishing Young Turks of PETRONAS, but it’s a minimum 500 book printing run. Do I have enough interested persons to purchase?

Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I have a feeling that The Star isn’t the preferred O&G job recruitment portal now. I see more adverts via social media. What do you think, is it a step change that the papers need to embrace?
  • I’m looking for a mech inspector, for a job in China. If you are in between jobs, contact me. As always, there will be a serious pay cut.
  • I’m looking for jobs for 2Q2017. Send me your POs.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? I would suggest visiting Sudu & Garpu, SS15.

Seeing that Joe Dever has passed away, you may want to revisit his books:

Flight from the Dark (Lone Wolf, Book 1), Legends of Lone Wolf Omnibus 1, War of the Wizards (The World of Lone Wolf, Book 4)

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

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