Nomura: Malaysia among ‘clear-cut winners’ of rising oil prices

December 31, 2017

Dateline 2017-11-10, The Edge:

Malaysia is among five “clear-cut winners” of rising prices of crude oil due to Malaysia’s position as a net exporter of the commodity, according to Nomura.

In a report today, Nomura said Malaysia, Colombia, Nigeria, Russia and Saudi Arabia are clear-cut winners among emerging markets in anticipation of significantly higher oil prices in 2018. Today, Nomura’s report followed Brent oil’s rise in 2017 from a trough of around US$44 a barrel in June to about US$63 now.

“Malaysia: As a net exporter of oil (0.3% of gross domestic product (GDP)) but an even larger exporter of LNG (liqufied natural gas) (2.6%) – the price of which is closely linked to oil, but with a few months lag – the benefit from higher oil prices is amplified.

“We estimate every US$10 increase in the oil price would widen the trade surplus by about 0.4% of GDP, helping to keep the current account in a comfortable surplus, which now stands at around 2.3% of GDP. The government has removed fuel subsidies, yet still collects oil revenues (14.8% of 2018 budgeted revenue),” Nomura said.

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Repsol expects increased production from Kinabalu block by June next year

December 30, 2017

They need an allocation and measurement engineer to count those extra drops. Who do I contact?

Dateline 2017-11-09, NST:

Repsol Oil and Gas Malaysia Ltd expects an increased production from its Kinabalu block to an average of 16,000 barrels of oil per day (bopd) from the current 11,012 bopd with the new platform there.

Its director (Malaysia Business Unit) Jorge Milathianakis said they expect to reach this capacity by June next year once all 10 wells from the new bridge-linked wellhead platform (KNDW-D) are operational.

Speaking at the media engagement to announce the first oil production from the Kinabalu Redevelopment project, Milathianakis said they have achieve the first oil production from the new platform on October 29.

KNDW-D was successfully installed on June 8 this year, connected to the existing platform (KNDP-A).

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Oil & Gas Significant In Quest To Become High-Income Nation

December 28, 2017

Dateline 2017-11-09, MalaysianDigest:

The oil and gas (o&g) industry remains one of the significant contributors to Malaysia’s economy and revenue in the strive to become a high-income nation by 2020.

Despite facing numerous challenges and dwindling contribution to the government’s revenue, it is still an industry to be reckoned with, considering the sheer size of its workforce and multiplier effect to the economy.

In the medium term, the o&g industry remains a significant contributor to the economy and revenue as the economy progressively expands into other sectors, namely the services industry.

With crude oil prices averaging US$50 per barrel this year, they bolster government’s income and allocation to boost the economy and support programme towards meeting the goal of becoming a high-income nation under the National Transformation Programme.

Crude oil prices are correlated to global economic growth.

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Not true Sabah O&G made collateral

December 26, 2017

Nah, the collateral is when we give up Layang-layang reef.

Dateline 2017-11-09, Daily Express:

Abdul Rahman described claims that Prime Minister Dato’ Sri Najib Razak had collateralised oil and gas blocks off Sabah to the Chinese for a loan of RM100 billion as a total and blatant lie.

He said this in reference to a message which started making its rounds over social media Tuesday afternoon, purportedly to warn Sabahans, Sabah MPs and ADUNs with regard to the Trans Sabah Gas Pipeline (TSGP) project. The message alleged that the Prime Minister has collateralised oil and gas blocks off Sabah to the Chinese for a loan of RM100 billion.

“This is a total and blatant lie perpetrated by irresponsible party who would benefit from people’s anger and mistrust towards the federal and state governments.

“I want to announce here that the TSGP is important for Sabahans, industries and non-industries using gas as fuel.

“All this while we have asked for Sabah gas to be used for industry and the people of Sabah, thus we build TSGP from Kimanis to Kota Kinabalu and from there to Tuaran, Kota Belud, Kota Marudu and then to Sandakan and Tawau.

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Saturday Star 2017-12-23 – Job Opportunities

December 25, 2017

Happy short work 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.

This week, may I suggest you have a peek at Dakwah Corner? They have branches in Subang Parade, PJ Section 14, Ampang Park

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RM4.5b Trans Sabah Gas Pipeline to be funded with loan from China, guaranteed by Malaysia

December 23, 2017

Why not just say, paid by Malaysia?

Dateline 2017-11-08, The Edge:

The Trans Sabah Gas Pipeline (TSGP) will be funded by a soft loan of RM4.53 billion from the Export and Import (EXIM) Bank of China and guaranteed by the Malaysian government, said Minister in the Prime Minister’s Department, Datuk Seri Abdul Rahman Dahlan.

The RM4.53 billion constitutes the total cost of the project, Rahman Dahlan said in a statement today, refuting an allegation on social media that Prime Minister Datuk Seri Najib Razak had collateralised oil and gas blocks off Sabah to China for a loan of RM100 billion.

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Petros still far from picking its CEO

December 22, 2017

Dateline 2017-11-08, The Malaysian Insight:

SARAWAK-OWNED petroleum company, Petroleum Sarawak Bhd (Petros), is no nearer to picking its chief executive officer.

Petros board chairman Hamid Bugo said the board was screening the more than 40 applicants that had responded to its advertisement for the post in local and national newspapers.

“It will take some time. This is a very important position and we want to choose the best person,” he said yesterday after attending Chief Minister Abang Johari Openg’s press conference to announce the appointment of Sarawak Energy Bhd (SEB) to spearhead research on hydrogen fuel and hydrogen fuel cell applications in the state.

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MPs petition Petronas to quit Myanmar over treatment of Rohingya

December 21, 2017

Y’all oilers, where do you stand? This isn’t related to Malaysia waters, but a news item that should put you on a side of the fence. Anyhow, go give support. Now. Run.

Dateline 2017-11-08, FMT:

Forty-seven opposition MPs have petitioned Petronas urging the national oil corporation to pull out from Myanmar until its government recognises the rights of the Rohingya.

PKR’s Pandan MP Rafizi Ramli, who spoke for the group, said they had written to Petronas chief executive officer and president Wan Zulkiflee Wan Ariffin seeking a meeting to discuss the issue.

“Petronas has invested in several projects in Myanmar. However, only the Yetagun gas field in the Andaman Sea is in production.

“Petronas took up a stake in the project after an American investor withdrew,” he told a news conference in Parliament today.

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Shell excel in oil extraction from Sabah deepwaters

December 19, 2017

Is this an advertorial?

Dateline 2017-11-07, NST:

As Sabah contributes about 50 per cent of the country’s oil production and with 60 per cent of production in the state comes from Shell, the oil company hopes to keep oil production competitive and growing sustainably in the next years to come.

Sabah Shell petroleum company general manager Ian Lim said Shell is doing well in oil production performance over the years, particularly in Sabah deep water.

“Within the Shell group, we compete very well. One of the things we are proud of is that in a lot of internal conversation, whenever we talk about business, we talk about which team and asset is producing well.

“The word Sabah deepwaters shows up and it’s really a proud moment as well as recognition to the team and where we are at. Of course, there is still improvement to be made but Shell is on (the right) track,” he said.

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Saturday Star 2017-12-16 – Job Opportunities

December 18, 2017

Happy still on vacation 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

.

Leave a Comment » | Malaysia, oil and gas | Permalink
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