Malaysia set to become LPG and LNG hub by 2022, says deputy minister

April 22, 2019

Dateline 2019-03-07, Malay Mail:

Malaysia is set to become the storage and distribution hub of liquefied petroleum gas (LPG) and liquefied natural gas (LNG) in the region within the next three years, Deputy Transport Minister Datuk Kamarudin Jaffar said.

He said the hub was being developed in collaboration with Singapore’s Global Petro Storage Group (GPS) and Norway’s Equinor, both of whom were global players in the industry.

 

 


Malaysia, Brunei express satisfaction over oil and gas collaboration

April 4, 2019

Dateline 2019-03-05, The Star:

Prime Minister Tun Dr Mahathir Mohamad and Brunei’s Sultan Hassanal Bolkiah have expressed satisfaction at the continued collaboration between Petronas and PetroleumBrunei during the Malaysia-Brunei Annual Leaders’ Consultation framework in Putrajaya.
The leaders said they would continue working together to commercialise the Commercial Arrangement Area (CAA) discoveries as soon as possible through the CAA and Production Sharing Agreements (PSA), it said in a joint statement on Tuesday (March 5).


CLIQ Energy to be delisted on March 4

March 26, 2019

Dateline 2019-02-27, The Sun:

CLIQ Energy Bhd will be delisted from Bursa Malaysia on next Monday, March 4, the company said today.
“The entire issued share capital of CLIQ will be removed from the official list of Bursa Securities with effect from 9am, March 4, 2019 pursuant to Paragraph 16.11(1)(d) of the Main Market Listing Requirements of Bursa Securities,” it told Bursa Malaysia in a filing.
CLIQ, which is the second oil and gas special-purpose acquisition company (SPAC) to list on Bursa Malaysia, announced in February 2016 that it would be liquidated after failing to secure its qualifying acquisition within three years.
Trading in its shares was suspended on Oct 5, 2016.


Limited output disruption from fire at Malaysia’s Bintulu LNG plant: sources

March 25, 2019

Dateline 2019-02-25, S&P Global:

Malaysia’s Bintulu LNG plant is expected to experience limited production disruptions or cargo loading delays after a fire broke out at the plant on Friday morning, industry sources told S&P Global Platts.
Authorities at the Petronas facility have gotten the situation under control and there is little likelihood of a significant production impact as a result, according to two sources familiar with the matter.


Oil and gas sector hires more local graduates, trims forex losses

March 21, 2019

Dateline 2019-02-19, NST:

Skilled local workforce has helped major oil and gas (O&G) cushion the global weak oil prices, ringgit fluctuations and foreign exchange (forex losses) over the past few years.

Analysts said companies such as Petroliam Nasional Bhd (Petronas), Sapura Energy Bhd, Alam Maritim Bhd, Barakah Offshore Bhd and others has hired local professionals and technical and vocational education and training (TVET) graduates to reduce costs, which is part of the companies’ cost cutting measures.

Sunway University Business School Professor of Economics Dr Yeah Kim Leng said the O&G sector is a very specialised high technology sector which requires a lot of specialised skills to work at oil rigs and fabrication yards.

“In the early days, these niche areas required foreign expertise and was dominated by expatriates but now firms such as Petronas and Sapura no longer hire foreign professionals but source local engineers from the O&G field.

“This in turn has enabled the country to save a lot in terms of foreign exchange as it is very expensive to pay the foreign engineers.

“Now Malaysia is able to produce its own local oil and gas engineers, technicians and supervisors,” Yeah told NST Business recently.


Local O&G companies continue to be hurt by 2014 oil rout

March 18, 2019

I hurt.

Dateline 2019-02-18, Malaysian Reserve:

The 2014 global oil rout continues to impact the oil and gas (O&G) sector in the country.
Perisai Petroleum Teknologi Bhd’s regularisation plan was rejected by Bursa Malaysia and its share was suspended on Jan 22. The company had appealed the decision on Feb 8 and its official delisting from the Main Market is pending the outcome of the appeal.
CLIQ Energy Bhd distributed RM6.12 million from its trust account to shareholders on Jan 31 after the special-purpose acquisition company failed to secure a qualifying asset within the three-year deadline and will soon be delisted.
Scomi Group Bhd is also reeling from the 2014 oil fiasco.


‘Diversification is key to Malaysia OGSE companies’ long-term survival

March 15, 2019

And congratulations Mohd Yazid Ja’afar .

Dateline 2019-02-08, Sarawak Tribune:

Malaysian oil and gas services and equipment (OGSE) companies must diversify their businesses to remain competitive amidst signs of greater market volatility in 2019, said Malaysia Petroleum Resources Corporation (MPRC).
Deputy chief executive officer Mohd Yazid Ja’afar said while oil prices had risen since the beginning of the year, concerns about a supply glut and weakness in the global economy would keep prices on a tight leash, as evident from the general cautiousness of global oil companies and their continuous push for cost efficiencies.