From the Oil & Gas Journal – Global LNG production growth continues to lag expectations

October 22, 2010

Dateline 2010-10-04:

…

Malaysian LNG exports are fairly stable and little changed from last year’s export levels of about 3 bcfd (Fig. 4). Deliveries originating in Malaysia have run 100 MMcfd short of last year’s (roughly one cargo per month), according to Waterborne Energy data for first-half 2010. The Department of Statistics of Malaysia, however, reports that through May of this year the country exported 3.6% more LNG than in the first 5 months of 2009. In the longer run—by 2014—Malaysia anticipates a shortfall of natural gas supply for domestic needs and is exploring the possibilities to build a regasification terminal. Supplies for the terminal will likely come from Gladstone LNG in Australia, the final investment decision for the first train of which is expected in second-half 2010.

…

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

From the Edge – Petronas: Outlook less rosy in 2H

October 21, 2010

Taken from the Edge, dateline 2010-10-10:

Petroliam Nasional Bhd (Petronas) chalked up a nearly 60% growth in net profit to RM12.3 billion in 1QFY11 ended June 30 versus RM7.7 billion a year ago, thanks to higher crude oil prices and bigger sales volume.  

Revenue rose 26.3% to RM58.6 billion from RM46.4 billion in the previous corresponding quarter, while pre-tax profit surged 39% to RM21.4 billion from RM15.4 billion.

However, its CEO Datuk Shamsul Azhar Abbas said the outlook for the second half of FY11 ending March 31 was “less rosy” amidst the uncertainties over the global economy.

“The prospects for a sustainable global recovery in the short and medium term appear questionable,” he told the media when announcing Petronas’ 1QFY11 financial
results yesterday.

…

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

From Platts – Petronas holds ‘competitive and challenging’ outlook for industry

October 20, 2010

Taken from Platts, dateline 2010-10-05:

Petronas expects the oil and gas industry to remain highly “competitive and challenging,” but the company is positioning itself towards a “new reality” with cost optimization, robust growth strategies and operational excellence, the Malaysian national energy company said late Monday.

In a statement that marked the first time Petronas has reported quarterly results, the company said that the current industry environment was “fraught with high costs, elevated trend and volatility of oil prices, and the prospect of margin erosion.” It, however, asserted that it had put in place strategies in all its business segments to deliver a sound performance in the financial year.

The company reported a net profit of MR12.3 billion ($4 billion) in the April-June quarter, the first quarter of fiscal 2010-2011, up nearly 60% from the same period the previous year led by higher oil and gas prices and sales volume for all products, including refined oil products, petrochemicals, gas and LNG.

…

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

From the Borneo Post – Oil Town to get RM120 mln greasing

October 19, 2010

And no, we’re not talking about Kerteh here.

Dateline 2010-10-05:

Mirians tired of the daily traffic jams along the road leading to Pujut 7 bridge can look forward to a solution to the problem in about two years from now.

The Works Ministry has approved a sum of RM120 million for a traffic flow improvement project.

Its minister Datuk Shaziman Abu Mansur announced the approval when observing the traffic congestion problem, particularly during peak hours, in the vital route linking the densely populated northern part of Miri, Pujut and beyond.

…

1 Comment | investment, Malaysia, oil and gas | Permalink
Posted by Wata

Saturday Star 2010-10-17 – Job Opportunities

October 18, 2010

Support me by purchasing my recommendations, or buying through my Amazon store.

First off, 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.

  • AkerSolutions ads say ‘it takes extraordinary talent to see possibilities in impossible surroundings’. A good quote to pick up. Visit them here if you want to see if you are woman enough to meet the challenge.
  • Murphy is looking for a snr deepwater completion engineer, shelf drilling team leader.  Send your applications here.

This week, my book recommendation is unusually not available from Amazon.us, though it is available on the Amazon.co.uk site. It’s a guide called Hajj Made Easy, a useful book I plan to use next month.

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

From The Star – Areas of concern for Petronas

October 17, 2010

Taken from the Star, dateline 2010-10-06:

While Petroliam Nasional Bhd (Petronas) looks set to see healthier earnings in its current financial year ending March 31, 2011, an anticipated slower global growth next year will weigh in on its performance.An area of concern highlighted by the national oil company during its first quarter results media briefing on Monday was the possibility of a double-dip recession and its repercussion on oil prices.

The global financial crisis experienced in 2008 and into 2009 saw downward pressure on the world economy, which consequently pulled down energy demand and prices.

…

You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.

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

From Bernama – Compassionate Payment, Oil Royalty Won’t Affect BN Chances In Galas

October 15, 2010

Taken from Bernama, dateline 2010-10-09:

Issues on the compassionate payment and oil royalty for the people of Kelantan will not affect the chances of Barisan Nasional (BN) to win the by-election for the Galas state seat, said Kelantan Umno Liaison chairman Datuk Seri Mustapa Mohamed today.

He said these issues would not affect the BN chances in the by-election because they were national issues.

“What is important is that at the state level, we have distributed the compassionate payments and the people have already received the money, so this issue is no longer relevant,” he told reporters after attending the Hari Raya gathering organised by the National Chamber of Commerce and Industry Malaysia (NCCIM), here.

…

Bernama’s making hard to copy text from their site, but not impossible.

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

IEM Shout Out – One Day Seminar on Drilling Engineering Overview

October 14, 2010

This is a shout out for the IEM. My Technical Division will be hosting a course on the 27th October, 2010. It will be held at Room 2, 2nd Floor, Wisma IEM, Petaling Jaya.  The course is worth 6.5 CPD or PDP points.

Drilling Engineering Overview shall present the audience with the knowledge and art of drilling wells, especially in Malaysia. It shall be presented in a way that is comprehensible to the engineers who are with or without the oil and gas background. The objectives of the seminar are to provide exposure to audiences the drilling practices and issues as well as to assert the audience with an appreciation of a Drilling Engineer’s work scope.

Drilling discipline in the oil and gas industry tends to be seen as the hard-core engineering and operations in the hostile environment that many potential engineers try to shy away from. This one-day seminar shall try to answer some of the questions that many people have, such as how is the drilling process done, what is it like to be a drilling engineer? The design process explanation shall take you from the Conceptual Design, Detailed Design and Final Design stages. From designing the well trajectory, directional design, casing design, drilling fluids formulation, cementing formulation, perforation, securing and completing the well to ensure that the production reaches the surface safely.

 The course will be presented by En. Razak Yakob. He has been in the oil and gas industry for 14 years working for companies such as ExxonMobil, Halliburton, and Talisman Energy. As a consultant, he has worked in countries such as China, India, Indonesia, Thailand, Algeria and others. Currently, he is an independent consultant providing consultancy for Drilling Engineering to PETRONAS Carigali Sdn Bhd. He graduated from Colorado School of Mines in the United States with a degree majoring in Petroleum Engineering and a minor in  Mechanical Design.

 

Flyers for the above and other events may be obtained here. A map to Wisma IEM is presented here.

I appeal to readers, come on and send yourselves and staff to these courses. I need the support.

4 Comments | engineering, Malaysia, oil and gas | Permalink
Posted by Wata

Saturday Star 2010-10-02 – Job Opportunities

October 13, 2010

Okay, so I’m late one week. It’s the jobs that count, right?

Support me by purchasing my recommendations, or buying through my Amazon store.

First off, 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.

  • FMC Technologies has posts available for contracts engineer, assistant manager – document management subsea systems Asia, Australia, Middle East (AAME) (Singapore), Assembly Engineer, Assistant Production Manager, System/ Field Development engineer, Snr/ lead product design engineers (Singapore). Send your CVs to here or here. Actually, applications for the last two positions should be sent to the second email address, and other applications sent to the first email address. Complicated enough for you?
  • Cool, Emerson’s looking for people. Actually, it’s Daniel Measurement, a company near and dear to my heart (hear that, Daniel folks?). They are looking for a senior instrument engineer, mechanical engineer, test engineer, software engineer. Dynamic applicants to apply here.
  • Technip is looking for an intermediate planning engineer, senior offshore / senior planning engineer, senior rotating equipment engineer, senior mechanical engineer (package), senior HVAC engineer, senior static equipment engineer. Visit here soon.

The week’s food was catered for by Petroserve.

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

IEM Shout Out – Strategic Management Thinking Process Workshop

October 12, 2010

This is a shout out for the IEM. My Technical Division will hosting a course on the 19th and 20th October, 2010. You’ll get to visit TNB’s Integrated Learning Solution – ILSAS at Bangi in addition to getting 13 CPD or PDP points.

Strategic Management Thinking Process will

  • help guide to find the solutions in a systematic way
  • Help to answer the logical questions of What to Change and How to Make the Change
  • Define those actions necessary to improve an organization using current issues or problems
  • Analyse underlying assumptions, logical relationships and develop solutions
  • Consider any issues and its effects which manifest themselves.

The Thinking Processes has been successfully implemented globally to achieve Profitability, Productivity and Accelerated Process of On Going
Improvement in:

  • Manufacturing
  • Services
  • Military and
  • Education

The course will be presented by HJ MOHD FUAD BIN HJ AHMAD
M Sc Statistics, San Diego State University, California, USA, B Art Mathematics (Minor Bus Admin), Chico State University, California, USA Jonah (Theory of Constraints), Avraham Y Goldratt Institute, New Haven, USA

Career

  • Career spans over 19 years in manufacturing industry local and
    overseas
  • Held positions as Business Improvement Consultant, Director of
    Assembly Operations and Human Resources, Theory of
    Constraints’ (TOC) Jonah Licensee and Staff Statistician
  • Involved in achievement of TQM and Total Productive Maintenance (TPM) awards, ISO 9001, ISO18000, ISO14001 certifications

Flyers for the above and other events may be obtained here.

I appeal to readers, come on and send yourselves and staff to these courses. I need the support.

2 Comments | engineering, Malaysia, oil and gas | Permalink
Posted by Wata

« Previous Entries
Next Entries »