Musa: Sabah in regular negotiations with Petronas

May 21, 2015

Reading the article, I expect the Sabah Exploration and Production Company to be established soon.

Dateline 2015-04-13, Malay Mail:

Sabah actively negotiates with state oil firm Petronas to maximise petroleum income beyond just oil royalty payment, Chief Minister Datuk Seri Musa Aman told the state assembly today,

Musa said that the state also benefited from active participation in the industry and other equities it holds in Petronas, including a new unexplored oil field off the east coast of Sabah.

“Sabah is in constant discussion with Petronas on how to get more, not only from its oil royalty but also in exploring other forms of profit, including the taking over of a marginal oil field in Sandakan, which has been approved in principle (by Petronas),” he said.

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Chem E Car 2015 – Guest of Honour

May 20, 2015

Deputy Minister of Science, Technology and Innovation Ministry or MOSTI Datuk Dr. Abu Bakar Mohamad Diah

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World Bank urges Indonesia and Malaysia to slash fossil fuel subsidies

May 19, 2015

The WB thinks we still have fossil fuel subsidies. Wait, do we? Fishing vessel diesel, maybe. What else?

Dateline 2015-04-13, World Green:

Emerging and developing economies in East Asia should use the drop in oil prices to curb fossil fuel subsidies as part of a programme that would help reduce national debts and tackle climate change, the World Bank has said.

In a new report on the region today, The World Bank warned fuel prices in Indonesia and Malaysia remain abnormally low, despite some recent efforts to curb fuel subsidies and increase taxes.

The International Energy Agency estimates that $550bn is spent on fossil fuel subsidies a year, which lower the cost of oil, coal and gas production and are blamed for undermining investment in low carbon forms of energy generation, such as renewable energy, and more efficient vehicles. The subsidies can take the form of a price cap at the pump or tax breaks for domestic oil producers, with the price difference made up by national governments.

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Saturday Star 2015-05-16– Job Opportunities

May 18, 2015

Happy Visit Singapore week. Buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). Where are those corporate sponsors? Or throw donations at me.

  • An associate of mine is looking for a well completion engineer, 10 years in the position (no, not position 23b, second variant). Send your CV to me. As per my Facebook posting, idiotic applications, straight to /dev/null.
  • An associate of mine is looking for a technical safety part-time adviser. Needs to be needle sharp with respect to QRAs, and HSE safety cases. A calm demeanor to handle nonsensical questions from young engineers helps as well. Either that, or a drinking problem.
  • An associate of mine is looking for an offshore structural engineer, senior engineer, 5+ years experience, permanent post. Relevant applications + bribery fee can be sent to me, not relevant applications get posted to facepalm.com.
  • An associate of mine is looking for a Senior process engineer, more than 5 yr experience in oil and gas industry, for assignment at PPMSB for approximately 7 months. Tentative duration is to start mid May, ends on 31 Dec. Again, I am running a bribery bid.
  • Hess is still looking for a measurement and allocation engineer (2 I believe). I saw that the ITB is still floating around. If you want me, you know where to find me. Not Celebrity Fitness, if you need a hint.
  • Nothing much in the news.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? Go visit the mee bandung / asam pedas stall in front of the Petaling Jaya Police Station (don’t ask).

Seen the Episode VII new trailer? Ff you say “What is episode Vii?”, I disown you.

Join the Star Wars Fever:

Star Wars Trilogy Episodes IV-VI (Blu-ray + DVD), Star Wars Trilogy Episodes I-III (Blu-ray + DVD), Heir to the Jedi: Star Wars

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Gas pipeline may be entry point for illegals

May 17, 2015

Oi, it’s my idea to stuff things into transborder pipelines to allow for, ahem, liberalised, GST-free trade:

Dateline 2015-04-10, Bornoe Post:

The Sabah Sarawak gas pipeline route could be another way illegal immigrants are entering Sarawak from Sabah via Miri, said state Immigration director Datu Robert Lian.

The pipeline links Kimanis, Beaufort and Sipitang, Sabah to Lawas, Baram and Bintulu. Robert said he would get villagers in the area to report the movements of those who are not locals near their kampungs or longhouses.

He said Miri Airport could also be another entry point as rural air service flights from Lawas are not subject to immigration checks.

“Our Immigration officers stationed at Miri Airport are now beefing up checks on passengers from Lawas to Miri and Miri back to Lawas at Miri Airport to ensure that there are no loopholes for illegals to come to Miri,” he told a press conference on Wednesday.

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Oil to bounce back to US$ 80 in THREE TO FIVE YEARS – Templeton

May 16, 2015

Just in time for nuclear fusion to be practicable.

Dateline 2015-04-10, Malaysia Chronicle:

Global oil prices could bounce back to US$80 (RM290) per barrel over the next three to five years as there is barely 2% imbalance in supply and demand of oil, according to Templeton Global Equity Group executive vice president and portfolio manager Alan Chua.

“Even though US$80 per barrel is not very exciting from where we’re right now, but from US$50 to US$80, it would give a more than 50% gain,” he told a press conference after a fund launch here yesterday.

He said if there is a slight change in supply scenario or the global economy grows stronger, the 2% imbalance will go away quickly.

Chua noted that as funding for new oil and gas investment has come down, the oil supply should be muted in the next few years, with oil prices could easily rebound to over US$80 per barrel.

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Petronas Still a Safe Bet

May 15, 2015

Umm, when did PETRONAS start trading stock? Why did you not tell me? Safe bet for who?

Dateline 2015-04-10, The Establishment Post (who?):

When Petronas posted a huge loss in the last quarter, there was great fear that the economy was going into a nosedive. The state-owned oil and gas company has contributed to the government more than RM800 billion (US$216.5 billion) since it was set up 41 years ago, according to business portal Kinibiz. When Petronas sneezes, there is no denying that Malaysia will catch a cold.

Petronas (Petroliam Nasional Berhad) is Malaysia’s largest single taxpayer and the biggest source of revenue. Over the years, the company has contributed 30 to 45 per cent of the government’s annual revenue. It is Malaysia’s only Fortune 500 company and among the most profitable companies in the world.

So when the Brent crude oil price of US$115 per barrel in June plunged to US$45 in January 2014, there was an air of gloom. In the last quarter of 2014, Petronas saw losses amounting to RM7.3 billion (almost US$2 billion). A drop of this size has never happened since the national oil company started filing financial results on a quarterly basis five years ago. Prior to that, Petronas was earning an average of RM16 billion (about US$4.3 billion) a quarter.

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Construction begins on Shell Malaysia’s oil and gas lab

May 14, 2015

Yea, Chee Tsong. But why not work with universities, or can they run research projects at your pad?

Dateline 2015-04-07, TMI:

Shell Malaysia has started construction of the largest upstream oil and gas (O&G) laboratory in Sarawak for deepwater exploration and production activities.

It will be operational by the end of 2016.

Sarawak Shell Bhd general manager Chok Chee Tsong said the new building showcased the company’s commitment in continuing to invest in the O&G industry in Sarawak and in Malaysia.
He was speaking at the ground-breaking ceremony for the building by state Assistant Minister in the Chief Minister’s office (Promotion of Technical Education), Datuk Len Talif in Miri today.

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Marketing Rounds – Indoor Badminton Court

May 13, 2015

While plowing the depths of Wisma Central to visit an associate company, I was reminded of this little gem. You must be paying serious GST to afford an indoor court.

No court bunnies or queens (which is the politically incorrect term)?

IMG_20150417_111726_HDR

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Tough year ahead for Malaysia’s oil and gas sector

May 12, 2015

Can I adopt a godfather, please?

Dateline 2015-04-07, Malay Mail:

Malaysia’s oil and gas (O&G) sector’s mergers and acquisitions (M&As) this year are expected to fall slightly to US$5 billion (RM18 billion) from US$5.7 billion last year.

Deloitte Malaysia Energy and Resources Leader, Nizar Najib, said some firms may have cashed out to launch acquisitions but the others may not have the means to undertake M&As due to depletion in their order books.

“The acquisitions would likely be more domestic-focused as Malaysian firms were interested to consolidate locally,” he told Bernama at the Deloitte South-East Asia Oil and Gas Summit 2015 here today.

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