Petronas CEO calls for end to gas subsidies

July 5, 2012

Woo hoo!

Dateline 2012-06-04:

Petronas is urging Putrajaya to stop gas subsidies, saying today the mechanism hampered transparency and dampened demand for investment.

Tan Sri Shamsul Azhar Abbas, the chief executive of the state oil company, said in his opening address at the World Gas Conference here today that countries with large gas reserves kept rates low to promote economic growth but heavy subsidies ultimately led to energy inefficiency.

“I believe gas prices should be left to be determined by market forces,” he said at the forum that drew 4,500 gas industry professionals from around the world.

“Industry players will have the flexibility to manage their own risks, work to deliver security of supply and meet demand at market prices.”

…

3 Comments | Malaysia, oil and gas | Tagged: , | Permalink
Posted by Wata

Petronas awards LNG project to Technip and Daewoo

July 4, 2012

Dateline 2012-06-05:

Malaysian state oil firm Petronas has awarded the engineering, procurement, construction, installation and commissioning (EPCIC) portion of its first commercial floating liquefied natural gas (LNG) project to a consortium comprising Technip SA and Daewoo Shipbuilding & Marine Engineering Co Ltd.

Petronas said yesterday it has approved plans to build a floating LNG plant offshore in Sarawak state, on Borneo island, and expected the facility to be ready for start-up by the end of 2015.

“It will be moored about 180 kilometres off the coast of Bintulu, Sarawak, and is designed to produce 1.2 million tonnes a year of LNG,” Petronas said in a statement today.

…

Leave a Comment » | Malaysia, oil and gas | Tagged: , , , | Permalink
Posted by Wata

Petronas approves floating LNG plant

July 3, 2012

Dateline 2012-06-05:

Petronas has approved plans to build a floating liquefied natural gas (LNG) plant offshore Malaysia and aims to bring it online in 2015, which, if it were successful, would make it the first such plant in the world.

Petronas’ main competitor in the race to bring the first floating LNG plant online is oil major Royal Dutch Shell which approved its Prelude LNG floating plant last year and has said it intends to bring the plant online by 2017.

The floating LNG plant will allow Petronas to drill and ship gas from fields that were either too small or too remote to be profitable previously, CEO Shamsul Azhar Abbas said at a gas industry gathering in Kuala Lumpur on Monday.

“This is an example where advancement of technology has made it economically feasible to monetise stranded gas in small and scattered conventional fields,” Shamsul said of the project.

…

Leave a Comment » | engineering, investment, Malaysia, oil and gas | Tagged: , , | Permalink
Posted by Wata

BEM: Seminar Proposed Amendments To The Registration Of Engineers Act 1967

July 2, 2012

Be interested in the changes. Register here, and download the form here. Don’t forget to send me a finder’s fee.

Leave a Comment » | engineering, Malaysia | Tagged: , , | Permalink
Posted by Wata

Malaysia Predicted To Become Net Importer Of Oil And Gas In 2017, Says IEA

July 1, 2012

Dateline 2012-06-05:

The International Energy Agency (IEA) in a new report, has predicted that Malaysia would become a net importer of oil and gas in 2017, due to increasing domestic demand.

The IEA’s Executive Director Maria van der Hoeven said Malaysia, which is the world’s third oil and gas exporter at present, would become like neighbouring Indonesia by that year.

“The Medium-Term Gas Market Report 2012, also suggests that China could become the third-largest gas importer behind Europe and Asia Oceania, driving at 2.7 per cent, average annual growth in global gas demand through 2017,” she told reporters at the World Gas Conference 2012 here.

…

Leave a Comment » | Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata

Saturday Star 2012-06-23 – Job Opportunities

July 1, 2012

C’mon. Buy my recommendations, or through my Amazon store. I need the money to pay for my new camera. Where are those corporate sponsors? Or throw donations at me.

If you need my help to submit your CVs, donate to the blog, and I’ll review your CV to see if it is worthy of my (and my associates’) expectations. If you can’t figure out how to donate, no need to ask.

  • I’m looking for a senior process engineer, 7+ years experience. Send your cv here . Also looking for process safety persons, lead piping designer, lead instrument engineer, and other seniors you think will catch my eye.
  • And what, no adverts this week?

May I suggest that readers try Bluestacks? Run your Android apps on your Windows tablet, so you can buy that Win8 tablet (and buy me one) without worrying you won’t have anything to play on it!

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!

You need to improve your Excel massage skills if you want to be an engineer. Here are some words to help you along.

  

Excel 2010 Bible, Excel 2010 Power Programming with VBA (Mr. Spreadsheet’s Bookshelf), Excel for Scientists and Engineers: Numerical Methods

This week’s food promotion is … mee bandung Mooor. If you find nice places around PJ, let me know. I’ve tried the one across from the PJ State Police Station.

Leave a Comment » | engineering, Malaysia, oil and gas | Tagged: , | Permalink
Posted by Wata

Malaysia’s First LNG Re-gasification Terminal Reaches Mechanical Completion Stage

June 30, 2012

First? You mean there’s a second?

Dateline 2012-06-04:

Malaysia’s first liquefied natural gas (LNG) re-gasification facility, developed by Petronas gas processing and transmission arm, Petronas Gas Bhd (PGB), has reached mechanical completion stage.

In a statement today, PGB said it was currently progressing ahead with the preparation to commission the project for commercial operation scheduled for August.

The project, known as Re-gasification Terminal, is located in Sungai Udang, Melaka.

…

Leave a Comment » | engineering, Malaysia, oil and gas | Tagged: , | Permalink
Posted by Wata

PetGas LNG regasification terminal draws interest

June 29, 2012

Dateline 2012-06-01:

A number of companies have expressed interest in using the Petronas Gas Bhd liquefied natural gas (LNG) regasification terminal in Sungai Udang.

Samsudin: ‘We have been approached by a few of them verbally and some have written to us to express interest to use the LNG regasification terminal.’

Petronas Gas managing director and chief executive officer Samsudin Miskon said at a media briefing that the company was in talks with several parties that were interested in using facility.

…

Leave a Comment » | Malaysia, oil and gas | Tagged: , | Permalink
Posted by Wata

Petronas posts 61.7pc profit rise in Q1

June 28, 2012

Dateline 2012-05-31:

Malaysia’s state oil firm Petroliam Nasional Bhd (Petronas) posted a 61.7 per cent increase in first-quarter profit today, saying the rise was mainly due to higher margins and the company’s sale of its stake in Centrica Plc.

The unlisted company said its net profit for the three-month period ended March 31, 2012 rose to RM20.7 billion (US$6.5 billion) from RM12.8 billion a year ago.

Revenue in the three months climbed 14.6 per cent to RM75.2 billion year on year.

…

Read more: Petronas posts 61.7pc profit rise in Q1 http://www.btimes.com.my/Current_News/BTIMES/articles/20120531174059/Article/index_html#ixzz1xHb6SHrT

Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: | Permalink
Posted by Wata

Petronas Signs New PSC With Talisman, Petronas Carigali

June 27, 2012

Dateline 2012-05-28:

Petroliam Nasional Bhd (Petronas) has signed a new production sharing contract (PSC) with Talisman Malaysia Ltd and Petronas Carigali Sdn Bhd.

The PSC, signed on May 23, was for the continuing production, further development and improved recovery of crude oil from the Kinabalu Fields, a number of fields with mature reservoirs located offshore Sabah.

Vice president of petroleum management Ramlan Abdul Malek said the PSC is the first awarded under the new, innovative progressive volume-based (PVB) fiscal terms designed by Petronas to offer value-added incentives for the development and production of mature oil fields in Malaysia.

…

Leave a Comment » | Malaysia, oil and gas | Tagged: , , , , | Permalink
Posted by Wata

« Previous Entries
Next Entries »