Exxon, Shell advance in Newfield’s Asia auction: sources

September 28, 2013

Dateline Chicago Tribune 2013-08-15:

Energy majors Exxon Mobil Corp and Royal Dutch Shell are among the suitors advancing to the next round of bidding for Newfield Exploration Co’s Malaysian and Chinese oil and gas fields valued at about $1.2 billion, people familiar with the matter said.

Newfield and Hess Corp are among a number of U.S. energy companies unloading ageing and less productive oil and gas fields to invest in more strategic and profitable projects, particularly in and close to their home markets. The moves are driven in part by activist shareholders.

 

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Lundin close to sanction for Bertam offshore Malaysia

September 27, 2013

Dateline Offshore Magazine, 2013-08-07:

Lundin Petroleum has submitted a development plan to Petronas for the Bertam oil discovery offshore Peninsular Malaysia.
The company has a 75% operated interest in the surrounding PM307 license, which also contains the Tembakau gas accumulation.
Lundin expects approval for its plan later this year. Bertam, which has gross 2P reserves of 17 MMboe, is expected to deliver first oil in 2015 and peak at 15,000 b/d.

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Ranhill IPO Probed by Regulator as Malaysia Listing Deferred

September 15, 2013

Probe sounds so obscene… Dateline 2013-07-25, The Star.

Malaysia’s Securities Commission is reviewing Ranhill Energy and Resources Bhd.’s 753 million ringgit ($235 million) initial public offering and investors who subscribed may be offered their money back.

The regulator ordered the Kuala Lumpur-based energy and water group and its adviser Maybank Investment Bank Bhd. to postpone the listing slated for next week after an affiliate got a suspension notice from state-owned Petroliam Nasional Bhd. Proceeds from the share sale are being safeguarded by two banks and the Malaysian Issuing House Sdn., Ranhill Energy said in a statement yesterday.

…

 

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Ranhill Energy IPO ‘back on track’

September 10, 2013

Dateline 2013-07-26, Malaysia Chronicle:

Ranhill Energy and Resources Bhd’s RM753 million initial public offering (IPO) seems to be back on track after Petroliam Nasional Bhd (Petronas) lifted a freeze on a licence owned by an affliate company.

It is understood that Ranhill will meet with key Securities Commission (SC) officials early next week to discuss if the IPO can proceed as originally scheduled.

The stock was due to debut on Bursa Malaysia’s Main Market on July 31.

“The SC will make a decision on whether to allow Ranhill to be listed next Wednesday, or have them reschedule the IPO to a later date,” sources told Business Times.

…

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Books – Young Turks, Tuah Jebat di PETRONAS, Datuk Ismail Hashim

September 7, 2013

You ask, I find.

I have copies of the following books written by Datuk Ismail Hashim, formerly of PETRONAS.

Note: The Young Turks had been in storage for a while. The hard cover and spine are slightly damaged. Please note that these are not 2nd hand books, just previously unloved ones. Give them a good home.

  1. The Young Turks of PETRONAS (hardcover) – RM90 / USD 30 (can only be bought together with another book). Sold out! Keep an eye out for restock (or after our dumpster diving activities)
  2. Tuah Jebat di PETRONAS (hardcover) – RM90 / USD30
  3. The Will to Compete (hardcover) – RM90 / USD30
  4. Pantang di Cabar (hardcover) – RM90 / USD 30

 

Young Turks is the author’s view of the establishment of PETRONAS, whereas The Will is the author’s reminiscing of the establishment of PETRONAS Dagangan.

The books would be of interest to:

  1. Persons interested in the establishment of PETRONAS.
  2. Persons interested in the establishment of local companies.
  3. Persons interested in the history of oil & gas in Malaysia.

Cost includes local postage, via Poslaju. Overseas, contact me for details.

Payment can be made to me:

  1. Maybank 114357143086, Razmahwata bin Mohamad Razalli
  2. PayPal, add another RM5 per book (PayPal transaction fees)

Once payment, is made, send me a copy of the transaction report, together with your name, mailing address, phone number (PosLaju will need it if they can’t find your address), and email. Since I’m not doing this full-time, I’ll fulfill your purchases within one week.

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PETRONAS insists has been transparent about overseas operations

June 25, 2013

Dateline 2013-06-05, Malaysian Insider:

PETRONAS insisted today that it has kept to international standards in disclosing its overseas operations, amid calls for an audit by opposition leaders last week.

Malaysia’s ranking in a revenue management transparency survey dropped to 34th spot this year from 22nd in 2010, which the minister in charge of integrity and corruption, Datuk Paul Low, had attributed to PETRONAS’ overseas agreements disclosures.

“I think we have disclosed a lot of information on all of our overseas projects,” executive vice president of finance Datuk George Ratilal told reporters here, disagreeing with Low.

“Talking of transparency and all that, this is one national oil company that I think have been very transparent in what they do.”

…

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PETRONAS Upbeat On Malaysia’s Oil And Gas Industry With Advent Of New Technologies

June 23, 2013

Dateline 2013-06-05 from Bernama:

PETRONAS is optimistic on Malaysia’s oil and gas industry with the emergence of new technologies that facilitate greater oil and gas field explorations.

Chairman Tan Sri Mohd Sidek Hassan said industry players in the region were investing billions of ringgit to develop new technologies.

“There are more deepwater reserves discoveries (of late) as new technologies have aided previously uneconomical reserves to be revisited,” he told reporters at the opening of The 14th Asian Oil, Gas and Petrochemical Engineering Exhibition (OGA 2013) here today.

…

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Petronas: Defers $20 Billion Petrochemical Plant Decision to 2014

June 15, 2013

Isn’t the reason for deferment obvious? Can you spell “1AkuJanjiLepasUndi?”

Dateline 2012-05-22, Fox Business News.

Malaysia’s Petroliam Nasional Bhd. has deferred for another three quarters a decision to proceed with what the government describes as one of the country’s most important oil-and-gas projects.

A decision about building the $20 billion petrochemical complex in the southern state of Johor has been deferred until the first quarter of 2014, Petronas Chief Operating Officer Wan Zulkiflee Wan Ariffin said on Wednesday. He didn’t give a reason. It had been scheduled to announce if it will go ahead by next month. Petronas is currently conducting a new “front-end engineering design study,” Mr. Zulkiflee told a news conference.

…

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Should Sarawak have less MP seats?

June 12, 2013

Yes, there is an oil & gas angle, bear with me. Dateline 2013-05-26, FMT:

…

The key to improving Sarawak’s socio-economic gap is to redefine the Pertroleum Act 1974.

More money for Sarawak is of course very attractive and indeed makes it sounds as if it’s the first solution to poverty woes.

However, it is pointless to lobby for more money if funds are siphoned away through the unknown channels of corruption

Fact is Sarawak and Sabah have paid more than their reasonable dues to the federal government.

…

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MyCEB Targets RM66.5 Million Economic Impact From OTC Asia 2014

June 8, 2013

From Bernama, dateline 2103-05-20:

The Malaysia Convention & Exhibition Bureau (MyCEB) is targeting an economic impact of RM66.5 million from the Offshore Technology Conference OTC Asia 2014.

The conference, from March 25-28, 2014, at the Kuala Lumpur Convention Centre here, is also expected to welcome 6,600 international delegates to Malaysia, MyCEB said in a statement Monday.

Its Chief Executive Officer Zulkefli Sharif said Asia is increasingly gaining the attention of global players for business events, and Malaysia in particular, is highly regarded as an important port of call for international meetings.

He said the oil and gas sector accounts for around one-fifth of Malaysia’s Gross Domestic Product (GDP) and is included in the country’s Economic Transformation Programme (ETP) outline.

 

 

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