I took a trip to Segamat lately. Anyone know of POIs around there?
Marketing Rounds – PETRONAS Gas
April 9, 2014
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Posted by Wata
Petronas pipeline has destroyed rainforest, says Swiss-based advocacy group
April 8, 2014Of course construction destroyed rainforest. But have you seen the risk assessment? I haven’t, those in the know, send me a copy please?
Dateline 2014-03-03, Malaysian Insider:
The Swiss-based rainforest advocacy group Bruno Manser Fund (BMF), in a new attack on Sarawak, claimed the 500km Petronas gas pipeline (SSGP) has left a “trail of destruction” in the rainforest between the Sabah oil and gas terminal (SOGT) in Kimanis to the liquefied natural gas (LNG) plant in Bintulu, Sarawak.
BMF, on its new Sarawak geoportal, said that by shrouding the project in secrecy and for its failure to disclose the exact line of the SSGP, it has given rise for concern.
It claimed the less than transparent project had forced local communities to erect several blockades out of concern for damage to their environment and illegal extraction of timber for the construction of the pipeline within native customary rights (NCR) lands through which the line passes.
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Posted by Wata
Malaysia’s Petronas to sell Vietnam oilfields for $380m
April 6, 2014Alamak! Baru nak jual barang kepada mereka.
Dateline 2014-02-27, AsiaOne:
Petroliam Nasional (Petronas) wants to sell its stakes in five offshore oilfields in Vietnam for a combined US$300 million (S$380 million), two company sources said, as the Malaysian state oil firm streamlines its assets and raises funds for expansion.
Petronas, like many other oil companies, is looking to sell aging and less productive oil and gas fields to invest in more profitable assets. The planned asset sale comes as Petronas taps into North America’s shale boom and further develops Malaysian oil and gas fields.
The two sources did not give further details of the fields. They declined to be identified as they are not authorised to speak to the media.
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Mariculture farm on offshore oil and gas platforms
April 5, 2014No, not marital culture, though come to think of it… Divers, anyone want to buy a platform?
Dateline 2014-02-25, Borneo Post Online:
MOST of the offshore oil and gas platforms in Malaysia are built to last for approximately 25 to 30 years. The decommissioning of platforms is expected to be scaled up between 2013 and 2015, as 600 of the 900 offshore platforms are over 20 years old.
With the cost of decommissioning a conventional medium-sized structure at approximately US$3 million, oil companies are keen to find alternative options such as using the decommissioned platforms for other purposes such as marine culture, hotel and diving resorts, artificial reefs and rigs, marine research centres and control centres. Some of these ideas have been applied successfully, an example being the Seaventures Rig Dive Resort at Sipadan Island, Sabah, which was a platform turned into a hotel resort and diving centre.
The concept of using decommissioned oil rigs for mariculture (deep-sea fish farming) is realistic. The platform serves as an operational hub where all facilities related to farm fishing and crew are provided. It can easily support quarters for crew, storage for food and other supplies, docking facilities and a monitoring spot.
Besides reusing part of the structure as an operational hub, the structure of the platform can be used and manipulated as an anchor for mooring cages and nets near the platform. The structure can also be used as a hatchery, which will reduce transportation and operational costs. Indeed, the options are quite extensive.
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Kampung Halaman 04 – Bandara
April 4, 2014Center of aero commerce.
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Gas Malaysia diversifies into energy business
April 3, 2014Dateline 2014-02-25, The Sun:
Natural gas distributor Gas Malaysia Bhd will expand into the energy business by teaming up with Tokyo Gas’ Energy Advance Co Ltd to provide electricity and steam through a combined heat and power (CHP) system to industries in Malaysia.
Gas Malaysia said the joint venture is in line with its overall strategy of maintaining its key position to be an innovative value added energy solution provider.
“The JV company will diversify Gas Malaysia’s business from gas distribution to energy business,” it told Bursa Malaysia yesterday.
Gas Malaysia will lead a 66:34 JV together with Tokyo Gas Co Ltd’s subsidiary, Energy Advance Co Ltd (ENAC), to develop and operate the CHP system.
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M’SIA TO BE AS RICH AS NORWAY? FORGET IT – Umno’s racist, corrupt ways will PREVENT IT
April 2, 2014If you don’t like the title, send brickbats to the Malaysia Chronicle. And if you read the whole article, you realise the title is link bait.
Dateline 2014-02-23:
Norway is oil rich. It is a very cold country and oil is its greatest resource. Norway is also known as the Land of Millionaires – not only because the national wealth is go great but also because its petroleum revenues have been so well managed and treasured by its governments through the decades that the money have trickled down to the ordinary folk.
There is little wastage or leakage through corruption or inefficient policies that cause market incompetency and uncompetitiveness – for example in countries such as Malaysia, where huge amounts of money have been siphoned out – almost a trillion ringgit over the past decade according to the Global Financial Integrity.
Malaysia is also oil rich. But the great majority of its 28 million people are poor and the greatest wealth is held by perhaps as little as 5% of the population. Sad to say the divide between the rich in Malaysia and the not-rich is growing alarmingly wider by the day. This is due to the policies promulgated by Prime Minister Najib Razak’s Umno party which has ruled the country since 1957. The policies have been widely criticized as being flawed and designed to mask massive corruption by the elite leaders in the guise of helping the predominant ethnic group in the country – the Malays.
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PTT cancels Malaysia venture Projects in China and Indonesia to go ahead
April 1, 2014Investment interruptus? Not a good sign for Pengerang.
Dateline 2014-02-22, Bangkok Post:
The SET-listed PTT Global Chemical Plc (PTTGC), Thailand’s largest petrochemical producer, has decided to cancel its US$200-million petrochemical project in Malaysia due to lower-than-expected returns.
Through a joint venture with the Malaysian national oil and gas company Petronas and Japan’s Itochu Corporation, the downstream petrochemical project in Pengerang, Johor state, is set to produce polyol and poly carbonate for the automotive parts industry.
The three investment partners signed a “head of agreement” in Malaysia in May 2012.
Bowon Vongsinudom, PTTGC’s chief executive and president, yesterday said the feasibility study showed that the project has Internal Rate of Return (IRR) of less than 15%.
”That IRR is not justified under our benchmarked investment return,” he said.
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Murphy mulls US$2b-US$3b sale of M’sian assets
March 30, 2014Dateline 2014-02-21, The Star:
Spurred by the recent sale of Newfield Exploration Co’s Malaysian operations, American oil major Murphy Oil Corp is looking to hive off a 30% stake in its oil and gas (O&G) assets here at a price tag of US$2bil-US$3bil (RM6.62bil-RM9.93bil), sources said.
A sale by Murphy is potentially more lucrative than the one agreed between Newfield and SapuraKencana Petroleum Bhd last year for US$898mil (RM2.97bil), given its much larger production and reserves, O&G executives told StarBiz.
Several parties have expressed interest, including Houston-based Coastal Energy Co,a firm linked to Malaysian investor Taek Jho Low.
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Malaysia’s OIL WEALTH must be controlled by Parliament – Nurul
March 29, 2014Nah, use minyak as your personal piggy bank.
Dateline 2014-02-20, Malaysia Chronicle:
An opposition MP has proposed setting up a sovereign wealth fund to prevent the government in power from abusing Malaysia’s oil riches as a personal piggy bank.
Compared to oil-rich Norway which today has the richest sovereign wealth fund in the world at RM2.7 trillion, PKR MP Nurul Izzah Anwar lamented the fact that Malaysia’s equivalent oil fund, the Petronas-backed Kumpulan Wang Amanah Negara (Kwan), only has RM5.43 billion.
Nurul asked where did Malaysia’s oil wealth go, considering that Petronas had declared an accumulated profit of more than RM700 billion since its inception some 40 years back.
“Petronas cannot continue to serve as a private fund for the prime minister and the cabinet, with the use of nearly 40 percent of the revenue generated by the petroleum revenue in the government budget, compared with Norway which only allows four percent to be used.
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Wata - Malaysian Oil and Gas Engineer 