September 2, 2012
Dateline 2012-08-15:
ONE of the topics that have dominated media space in recent days has been the oil royalty issue. Putrajaya has pledged to look into a mechanism that will ensure fair distribution of oil and gas revenue to producer states in Peninsular Malaysia. A special committee will be set up to carry out a comprehensive study, taking into account all aspects of the claims, and will make appropriate recommendations to the federal government.
The committee will be chaired by former chief justice Tun Abdul Hamid Mohamad and members will comprise legal experts from within and outside the country as well as representatives from the Terengganu, Kelantan and Pahang governments, according to reports.
With few details for now, one wonders why the committee’s scope covers only the eastern states of Peninsular Malaysia and not also the oil-producing states of Sabah and Sarawak. If that is the case — covering only Terengganu, Kelantan and Pahang — then would the original agreement that paved the way for cash payments for oil and gas discovered in the states, which was governed by the 1974 Petroleum Development Act (PDA), be more relevant?
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business opportunity, Malaysia, oil and gas | Tagged: Kelantan, Pahang, petroleum, royalty, terengganu | 
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Posted by Wata
July 10, 2012
Congratulations, Datuk! Will we be seeing less of you on fb? On another note, did they split up the CEO’s office into sub categories?
Dateline 2012-06-08:
Petronas has appointed Datuk Mohd Anuar Taib as Vice President & Chief Executive Officer of Petronas Development & Production, effective July 1 this year.
The national oil company, in a statement here Friday, said he would head the upstream development and production division of Petronas in Malaysia as well as in 23 countries worldwide.
Mohd Anuar, who is currently the Vice President Malaysia, Upstream International and Chairman of Shell Malaysia, joined Shell in 1990 and will continue to serve Shell until the end of this month. A well engineer by discipline, Mohd Anuar was involved in various technical and business development positions throughout Asia and the United States.
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Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: Anuar Taib, Petronas, Shell | Permalink
Posted by Wata
June 15, 2012
Dateline 2012-05-18:
The three major shareholders of Gas Malaysia Bhd will receive a total of RM734mil from the sale of their shares in the former’s impending initial public offering (IPO).
Gas Malaysia’s IPO will entail only an offer of sale of 333.8 million shares at RM2.20 a piece.
The three main owners of Gas Malaysia stock are MMC-Shapadu (Holdings) Sdn Bhd (55%), Tokyo Gas-Mitsui & Co Holdings Sdn Bhd (25%) and Petronas Gas Bhd (20%). The three will rake in RM403mil, RM183.6mil and RM146.8mil respectively from the sale of Gas Malaysia shares.
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Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: Gas Malaysia, MMC, Petronas, Shapadu, Tokyo Gas | Permalink
Posted by Wata
June 14, 2012
Dateline 2012-05-18:
The listing of SapuraKencana Petroleum Bhd (SapuraKencana) on the Main Market of Bursa Malaysia signifies the successful conclusion of the massive RM11.85 billion merger exercise of two Malaysian oil and gas (O&G) powerhouses, SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd.
According to the company, the merger was initiated in July last year. The merger created Malaysia’s largest O&G service provider, which also ranked among the top five O&G service companies in the world by asset value.
SapuraKencana’s chairman Datuk Hamzah Bakar said, “The O&G industry is now looking for turnkey service providers that can manage complex tasks end to end. Our new, enhanced position backed by a full suite of services and a solid international track record places us in good stead to expand our global footprint while tapping opportunities locally.”
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Posted by Wata
June 13, 2012
Dateline 2012-05-18:
ConocoPhilips, among the world’s biggest oil producer from the United States, has invested US$1.5bil (RM4.6bil) in Malaysia so far for oil production in offshore Sabah.
Prime Minister Datuk Seri Najib Tun Razak said the company’s investment was to realise the 300,000 barrels per day production target in 2016.
“Conoco has invested in three areas off Sabah, but that takes end of 2013 for the first production, but the peak will be in 2016, where they expect the production to touch 300,000 barrels a day, about half of our current production,” said Najib to Malaysian journalists after his meeting representatives of America’s leading corporate companies at Havard Club of New York here.
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Posted by Wata
June 12, 2012
Dateline 2012-05-17:
Roc Oil (ASX: ROC) and its Balai Cluster Risk Service Contract partners in Malaysia have secured US$162 million (A$163 million) in project financing for the pre-development of the project offshore Sarawak.
Sumitomo Mitsui Banking Corporation, Standard Chartered Bank and CIMB Bank Berhad are the lead arrangers of the loan, which matures on 16 December 2014.
Roc has a 48% stake in the project and has thus far directly contributed US$30 million to the project, which is well along its pre-development phase. Total cost of the pre-development phase is estimated to be between US$200 to US$250 million.
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Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: Balai, Roc Oil | Permalink
Posted by Wata
May 31, 2012
Dateline 2012-10-15:
Petron Corp. wants to fully take over a Malaysian oil refiner by offering to buy out its remaining public shareholders for the second time.
Petron, through its international arm Petron Oil and Gas International Sdn, Bhd, has beefed up its stake in Esso Malaysia Bhd to 73.32% from 65% after a recent tender offer to minority shareholders.
Petron chairman and CEO Ramon Ang told reporters they hoped to own 100% of Esso, but not all shareholders accepted their offer.
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Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: EMB, ESSO, Petron | Permalink
Posted by Wata
May 29, 2012
Dateline 2012-05-14:
Gas Malaysia Bhd is expected to debut on the Malaysian bourse on June 11, a source with direct knowledge of the listing told Reuters, after it obtained approval on Monday from Malaysia’s Securities Commission to register its listing prospectus.
The planned listing of the country’s sole supplier of natural gas to the non-power sector was originally scheduled for the fourth quarter of 2011, but was delayed due to non-compliance with the commission’s rules.
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Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: Gas Malaysia | Permalink
Posted by Wata
May 27, 2012
And why would share prices go down? Plant has not been taken offline, we don’t have another supplier of gas…
Dateline 2012-05-11:
Petronas Gas Bhd (PGB)’s share price remained flat at RM17.28 at the end of the morning session today despite the fire at its gas processing plant (GPP) in Kerteh, Terengganu.
The stock hovered between RM17.18 and RM17.28 throughout the morning session.
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3 Comments | business opportunity, Malaysia, oil and gas | Tagged: GPP, Petronas, petronas gas, stock | Permalink
Posted by Wata
May 24, 2012
Dateline 2012-05-10:
Shell Malaysia Trading Sdn Bhd (SMTSB) has signed a sale and purchase agreement with Oman’s National Gas Co SAOG (NGC) to divest its liquefied petroleum gas (LPG) business in Peninsular Malaysia to the latter at an undisclosed amount.
SMTSB managing director Azman Ismail said the divestment was part of its strategy to concentrate on other businesses and streamlined its downstream business.
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2 Comments | business opportunity, Malaysia | Tagged: LPG, Oman, Shell | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 