‘Open up PETRONAS’ books’

June 6, 2013

Too bad we can’t open up our elected reps (all of them) offshore bank account books.

From FMT, dateline 2013-05-19:

A Sabah state legislative assembly representative has called for greater  transparency, accountability and creditability in the shadowy world of the nation’s oil wealth that is now only privy to the Prime Minister.

Luyang representative Hiew King Cheu said the need to amend the Petroleum Development Act 1974 is in line with Prime Minister Najib Tun Razak’s declared intentions of creating a more responsible government.

…

Leave a Comment » | business opportunity, Malaysian election | Tagged: , | Permalink
Posted by Wata

Malaysia’s Melaka LNG terminal receives Nigerian commissioning cargo

May 17, 2013

From Platts, 2013-05-03:

Malaysian state-owned Petronas’ LNG terminal at Melaka received its first commissioning cargo onboard the Seri Bijaksana, which arrived and docked at the regasification terminal’s jetty on April 30, Platts vessel tracking data cTrack showed Friday.

The Seri Bijaksana, which is 152,900 cubic meters in size, is owned by MISC Berhad, a subsidiary of Petronas, and was carrying a cargo from Nigeria to the Asia Pacific. Ship tracking data showed that it was diverted when it was halfway through the Strait of Malacca, making a 90-degree left turn to the terminal before arriving on April 30.

…

1 Comment | business opportunity, oil and gas | Tagged: , | Permalink
Posted by Wata

Analysts bullish on oil and gas services provider Uzma

May 10, 2013

Congratulations, Uzma. Payment into the usual Nigerian and Angolan accounts, please.

From the Star, dateline 2013-04-23:

Oil and gas services provider Uzma Bhd‘s share price has been on an uptrend, while the company’s orderbook has been steadily beefed up.

Although not widely covered by analysts, the stock has three “buy” calls and a “hold” call. The stock has risen 42% year-to-date, hitting a 52-week high of RM2.40 last Monday. It closed unchanged at RM2.08.

Last Friday, Uzma announced that it had secured a five-year contract worth RM238mil from ExxonMobil Exploration and Production Malaysia Inc for the provision of oilfield chemicals and associated services.

..

Leave a Comment » | business opportunity, Malaysia | Tagged: | Permalink
Posted by Wata

Malaysia’s Petronas makes higher offer for MISC in $3 billion deal

April 28, 2013

From Reuters, dateline 2013-04-05:

Malaysia’s state owned oil and gas firm Petroliam Nasional Bhd (Petronas) PETR.UL raised the offer price to take over shipping firm MISC Bhd (MISC.KL) in a deal valued at 9.2 billion ringgit ($3 billion).

The revised offer of 5.50 ringgit per share comes after MISC’s other major shareholder, the Employees Provident Fund found the original bid of 5.30 per share to be unattractive.

Petronas did not disclose reasons behind the revised offer on Friday, which is 0.73 percent or four sen higher than MISC’s share close of 5.46 ringgit per share.

…

 

Leave a Comment » | business opportunity, Malaysia, Malaysian election | Tagged: , , | Permalink
Posted by Wata

Former PETRONAS chief named chairman of energy company

April 27, 2013

Dateline 2013-04-05, The Malaysian Insider:

Former Petronas CEO Tan Sri Hassan Marican has been named as chairman of Pavilion Energy Pte, a new energy company under Singapore’s investment fund Temasek Holdings.

Hassan, who left the national oil company at the beginning of 2010 allegedly due to friction with the government, has been accepting directorships with several foreign firms in the energy sector, including as chairman of Singapore Power Ltd in February last year.

According to a Bloomberg report, Hassan was appointed together with chief executive Seah Moon Ming who joined Temasek in March.

The report pointed out that Pavilion Energy was set up with an initial authorised capital of S$1 billion (RM2.47 billion), to capitalise on the growing demands in Asia, especially on liquefied natural gas (LNG).

…

Leave a Comment » | business opportunity, Malaysia | Tagged: , , | Permalink
Posted by Wata

RM12b petroleum royalty demand by Kelantan govt without basis – PMO Read more: RM12b petroleum royalty demand by Kelantan govt without basis – PMO

April 19, 2013

I saw this and wondered, what was PCSB Peninsular Malaysia Operations (PMO) doing, giving out press statements? Dateline 2013-04-02:

The RM12 billion petroleum royalty demand by the Kelantan government is not based on any reasonable grounds, said a statement issued by the Prime Minister’s Office (PMO) here today.

The statement said the demand not only was unreasonable from the legal standpoint but also technicalities related to activities for oil and gas extraction in the area concerned.

“According to the law, the state of Kelantan, just as the state of Terengganu and all other states in Peninsular Malaysia, only have rights to demand petroleum royalty if extraction of oil and gas is done not more than three nautical miles from the low tide line or the shore of the state concerned,” it said.

…

Leave a Comment » | business opportunity, Malaysia, Malaysian election | Tagged: , | Permalink
Posted by Wata

Pertamina takes over PETRONAS gas stations

April 17, 2013

Not strictly Malaysian, but it could have been the Sulu Sultanate who…

Dateline Jakarta Post 2013-04-02:

State-owned oil and gas company PT Pertamina has taken over filling stations previously owned by Malaysia’s PT Petronas Niaga Indonesia after weak sales prompted Petronas close them down.

Pertamina director, Afdal Bahaudin, said on Tuesday that the company had purchased the stations, which are mostly in Java.

“We have purchased fuels stations in selected locations only,” he said.

Afdal declined to reveal the transaction value. He only said that the prices of the stations varied depending on location.

…

1 Comment | business opportunity, Malaysia | Tagged: , | Permalink
Posted by Wata

From The Engineering Floor – HAZID Keywords

March 31, 2013

When a Hazard Identification (HAZID) exercise is conducted, a multi-skilled team of experienced persons come up with credible hazards that could have a safety, health or environmental (SHE) impact.

One thing that you may forget, if you have a large, onshore facility is that in the process of creating your cash cow (aka plant/ facility), you may have impacted the local ecology to a large extent.

I have the privilege of watching what may go wrong if a HAZID hazard is not addressed properly. Look here and here.

Yes, this is not in Malaysia, but I was there. So there.

Leave a Comment » | business opportunity, engineering | Tagged: , , | Permalink
Posted by Wata

PETRONAS in a Dilemma

March 15, 2013

Really? Why doesn’t MTEM come round and get me to give a press statement?

1-2013-02-14 13.29.46

For those of you who missed the hoo ha, and want to get some biased background, visit here and here.

Leave a Comment » | business opportunity, Malaysia, Malaysian election, oil and gas | Tagged: | Permalink
Posted by Wata

Matrade: Government to focus on enhancing existing O&G fields

March 7, 2013

From the Malaysian Insider, dateline 2013-02-27:

The government will continue to focus on efforts to enhance output from existing oil and natural gas fields, in addition to advancing exploration in deepwater areas.

Chief executive officer of the Malaysia External Trade Development Corporation (Matrade) Datuk Dr Wong Lai Sum said to complement the efforts, the government had introduced various new tax and investment incentives, aimed at promoting oil and natural gas exploration and development.

She said Malaysia’s significance in respect of the global oil and gas industry was well recognised, with the country currently ranked at 28th spot among oil producers, with exports of oil & gas products worth RM142.6 billion in 2012.

…

Leave a Comment » | business opportunity, Malaysian election, oil and gas | Tagged: | Permalink
Posted by Wata

« Previous Entries
Next Entries »