Is There a Relationship Between the Malaysian Ringgit & Crude Oil Prices?

July 16, 2017

Linkbait. Read according to your blood pressure.

Dateline 2017-06-02, CommodityTradeMantra:

Is There a Relationship Between the Malaysian Ringgit & Crude Oil Prices?

The notion of intermarket relationships is nothing new, as there remain inextricable links between various sectors within the financial marketplace. Take the relationship between stocks and commodities, for example, which is usually defined by an inverse correlation that sees one asset rise while the other declines in value.

The same principle cannot be applied in advanced industrial economies, however, as these nations are largely commodity-based and reliant on natural resources for their growth. In the case of Malaysia, for example, crude oil remains a prominent export and a lucrative commodity, and in this instance the value of stocks is likely to progress along a similar trajectory to commodities.


Petronas Q1 pre-tax profit surges to RM15.5 billion

July 14, 2017

They don’t mention that this was helped by all suppliers having a price race to the bottom. We need to fix prices, perhaps get them into the scale of fees in the Registration of Engineers Act.

Dateline 2017-06-02, FMT:

Petroliam Nasional Bhd’s (Petronas) pre-tax profit for the first quarter ending March 31, 2017, surged more than 100% to RM15.5 billion from RM6.8 billion in the same period last year.

The national oil company said higher earnings for the quarter were primarily driven by higher oil prices and improved margins from upstream and downstream businesses, in tandem with its ongoing transformation efforts that have resulted in heightened cost optimisation and efficiency improvements across its value chain.

Stronger pre-tax profit for the quarter was also mainly due to higher revenue, which benefitted from higher average realised prices and lower net impairment on assets, partially offset by higher taxation, amortisation of oil and gas properties and product costs, it said in a statement today.

 


2 charged with cheating teacher over oil and gas investments

July 8, 2017

Who says that there is no interest in investing in the O&G market? I’ve got RM13.45 to spare, if I skip a KFC Jimat Box lunch.

Dateline 2017-06-02, FMT:

Two men were charged in the Ampang Magistrate’s Court here today with falsely inducing a teacher into handing over cheques amounting to RM350,000 for investments in oil and gas.


No oil in Penang waters, says exco

June 30, 2017

And a follow on from a previous article. And MOGSC gets pulled in.

Dateline 2017-05-25, FMT:

There is no oil in Penang waters, an exco man told the state assembly today, following a DAP rep’s suggestion to halt reclamation and rely on possible oil reserves in the state’s waters for revenue.

Chow Kon Yeow (DAP-Padang Kota) said based on data from a petroleum industry study, there was no oil discovered in the waters of Penang.

Pointing out to an “Oil & Gas Map – Malaysia”, released during a petroleum industry convention in Kuala Lumpur in 2009, he said most of the oil was discovered on the east coast of Malaysia.

“Based on the National Oil and Gas Industries Body 2009 report published by the Malaysian Oil and Gas Services Council, there is no oil in Penang waters,” Chow said in winding up his debate of thanks to the governor’s address today.

 


Hold on, there may be oil in Penang waters, says DAP man

June 24, 2017

I propose DAP create an exploration company. I will enjoy watching get a permit to conduct seismic works Georgetown.

Dateline 2017-05-24, FMT:

Teh Yee Cheu (DAP-Tanjung Bungah) said with the discovery of oil off northern Sumatra not far away, Penang could also have vast reserves.

Penang is planning to reclaim three islands south of Penang Island to fund its RM47 billion transport master plan, which includes transit lines, roads, highways and other modes of transport.

“Say, if vast areas of our sea have crude oil, what would be the state government’s strategy then?

“Maybe a detailed environmental impact assessment could be made to search for oil in Penang?

“Since there is oil off Aceh and northern Sumatra, we too might have great potential.


Repsol’s Bunga Pakma, Kinabalu projects on track

June 22, 2017

Is this an article on ex-EPMI staff?

Dateline 2017-05-24, Borneo Post:

Repsol Oil and Gas Malaysia Ltd’s (Repsol) Bunga Pakma development and Kinabalu redevelopment offshore oil platform projects are on track for their transportation and installation (T&I) phases.

The two projects are within the last legs of their Engineering, Procurement and Construction (EPC) phases which are carried out by OceanMight Sdn Bhd (OMSB), an affiliate of local-based KKB Egineering Bhd, and are scheduled to be completed in the second quarter of financial year 2017 (2QFY17) for the Kinabalu redevelopment project and 3QFY17 for the Bunga Pakma development project.

The Kinabalu redevelopment project entails the construction of a 3,700-tonne wellhead riser platform and a 350-tonne bridge that would link the new facilities to the existing Kinabalu platform owned by Repsol.


AOGC 2017

June 21, 2017

Asia Oil & Gas Conference. Come for the ice cream, stay for the ice cream.