Govt to boost security of oil rigs

November 24, 2017

Ah, I would like to see fisherman find a copy of the ToR.

Dateline 2017-10-04, NST:

THE government is working on a national blue ocean strategy (NBOS) approach by engaging relevant quarters to curb encroachment on waters near offshore oil rigs in Sabah.

Sabah National Security Council (NSC) has information that the problem of fishermen going near the rigs is becoming rampant.

During a recent visit to oilfields on board Malaysian Maritime Enforcement Authority’s (MMEA) vessel KD Arau, Sabah NSC director Datuk Rodzi Md Saad said the approach would include drafting terms of reference to tackle the problem.

“The visit to the oil rigs by various security agencies is one way to understand the problem so we can come up with the NBOS approach.


Petronas prepares life as subdued oil price remains

November 23, 2017

Dateline 2017-09-27, NST:

Fiscal discipline, prudent spending and delivering value over volume are the three values instilled by Petronas to prepare life as oil prices are forecast to average at below US$50 per barrel for the foreseeable future.

Executive Vice-President and Chief Executive Officer (CEO) for Upstream, Datuk Mohd Anuar Taib said based on these principles, the national oil company would continue to undertake portfolio high grading to ensure its assets have the strategic fit of value for the company to grow.

“Although we still put a lot of effort on production and exploration, it is all driven by how much we can afford and what kind of return we will get,” he told Bernama in an interview recently.

For assets seemingly having no strategic fit of value, Petronas, he added, would work on either relinquishing or divestment as was seen in its decision to relinquish Block 1 and 2 in Cuu Long Basin in Vietnam this month.


Petronas reforms bearing fruit

November 21, 2017

Good for them, bad for us little fish?

Dateline 2017-09-25, NST:

THE transformation measures put in place two years ago when the oil and gas industry took a downturn are beginning to show results for Petroliam Nasional Bhd (Petronas).

The national oil company has posted stronger cash position, low gearing and good credit ratings while reducing expenditure by five per cent.

More importantly, Petronas’ net profit more than doubled to RM17.3 billion in the first half of this year from RM6.4 billion a year ago.

This was on the back of RM108 billion revenue compared with RM94 billion in the same period last year.

In a recent interview with NST Business, president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin spoke about the challenges in doing what was right for the company after he took over the helm in April 2015. That was the period when oil prices slumped from US$114 (RM476) a barrel to US$28 a barrel.

He also delved into Petronas’ plans which include building the group’s digital and technological capabilities further, preparing a team of new leaders to ensure its future growth and investment into renewable energy.


Saturday Star 2017-11-18 – Job Opportunities

November 20, 2017

Happy been out of Internet contact for weeks, 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, and they have moved adverts to another online presence (I bought a dead tree edition this week). 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 1Q2018. Send me your POs.

Food choice of the week? Support your local mee bandung.

Thinking about the zombie apocalypse, you need something to jumpstart access to those dodgy Internet sites:

The Knowledge: How to Rebuild Civilization in the Aftermath of a Cataclysm

.


S’wak BN slams Mahathir over oil rights comment

November 14, 2017

Dateline 2017-09-26, FMT:

A senior official in the Sarawak Barisan Nasional has criticised Dr Mahathir Mohamad over his comments on the Petroleum Development Act (PDA) and the unfavourable terms it gives to the state.

Tan Kai, who is a political secretary to Chief Minister Abang Johari Tun Openg, called out the Pakatan Harapan chairman over his reasons for not repealing the PDA in his 22-year tenure as prime minister.

“Mahathir could have easily repealed PDA if he thought that it was not fair to Sarawak, as he had a two-thirds majority all the time,” Tan said in a statement yesterday.

Mahathir, who is also PPBM chairman, had reportedly said that his hands were tied as the PDA was drafted and approved before his time as prime minister, hence he could not do anything about the oil royalty and funds to be given to Sarawak.


Petronas reforms bearing fruit

November 11, 2017

Like..  an increase in the fraction of expats in industry? A decrease? A pushing out of small, local rotiwinner companies?

Dateline 2017-09-25, NST:

THE transformation measures put in place two years ago when the oil and gas industry took a downturn are beginning to show results for Petroliam Nasional Bhd (Petronas).

The national oil company has posted stronger cash position, low gearing and good credit ratings while reducing expenditure by five per cent.

More importantly, Petronas’ net profit more than doubled to RM17.3 billion in the first half of this year from RM6.4 billion a year ago.

This was on the back of RM108 billion revenue compared with RM94 billion in the same period last year.


HERE’S WHY MALAYSIA’S FUEL PRICES KEEP GOING UP, EVEN WHEN THE WORLD’S OIL PRICES GO DOWN.

November 10, 2017

Take this with a pinch of chilli. Though, the article is articulate, and well written.

Dateline 2017-09-21, Cilisos:

While yesterday it had been announced that fuel prices will be dropping 2-4 cents this week, the gomen have been announcing a rise in fuel prices weekly since April. It doesn’t matter whether it’s RON95, RON 97 or diesel, they all went up. It would seem that until yesterday, for the past 10 weeks the prices of RON95 and RON97 made like Taio Cruz and kept going higher, higher, higher off the ground.