From The Star – Oil price up and it is good for Malaysia

August 17, 2010

Taken from the Star, dateline 2010-08-04:

Analysts say this is generally good for nation but it can stoke inflation worries

PETALING JAYA: Crude oil hovered at a three-month high as the weaker US dollar made it cheaper to purchase the same quantity of fuel in other currencies.

Analysts believed a higher crude oil price was generally “good” for Petroliam Nasional Bhd (Petronas) and the country. As a net oil exporter, albeit a small one, the rise in prices will translate into higher earnings from sales overseas, which are under pressure from the ringgit’s 8.4% rise year-to-date.

But the Government also subsidised the bulk of the fuel sold in the domestic market.

…

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

Leave a Comment » | business opportunity, Malaysia | Permalink
Posted by Wata

From Bernama – PetroVietnam Finds Its First Malaysian Offshore Oil

August 15, 2010

Um, when did PetroViet open an office here? Never mind, I found the news article. Also, please notice the agreement came to light in 2003, and this is … 2010?

Dateline 2010-08-05:

PetroVietnam Exploration Production Corporation (PVEP) has reported the first oil extracted at the D30, Block SK305 field offshore Malaysia, according to Vietnam News Agency (VNA).

The field churns out an average 4,730 barrels of crude oil and 7.83 million cubic metres of gas a day. The accumulated production until July 31 reached 170,340 barrels with 282 million cubic metres of gas, PVEP said.

The SK305 project has been implemented under a common co-operation agreement on oil and gas exploitation and exploration between Vietnam ,Malaysia and Indonesia. Its contract came into effect on June 16, 2003.

PCPP Operating Co is a joint venture between the three state-run companies to operate the project. PVEP, an affiliate of Vietnam’s leading PetroVietnam group, holds 30 percent; Petronas Carigali Sdn Bhd, a member of …

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

From Bernama – Malaysia’s O&G Expects To Be Awarded RM10-15 Billion Worth Jobs

August 14, 2010

I’ll believe it when my company’s liquidy increases a hundred-fold. ‘Course, it’s hard not to be able to increase the RM1.32 we have in our bank balance… we find more money down the side of the couch.

Dateline 2010-08-06:

Malaysia’s oil and gas service providers are expected to secure at least RM10-RM15 billion worth of jobs in the next 18 months, said ECMLibra Investment Research.

It said the oil and gas service industry looked promising and vibrant given the line-up of jobs ahead which were expected to be completed between 2013 and 2015.

“The jobs are related to enhanced oil recovery projects, deepwater, onshore downstream and also marginal fields.

“Petronas has already clearly indicated that it was time to step up investments at home given the declining local production and we believe redevelopment projects like Tapis will be the first to go ahead,” ECMLibra said in its research note on Friday.

The research house added that the Tapis would likely take off soon followed by deepwater projects and then the front-end engineering and design jobs.

…

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

Discovery of oil at Canada Hill brings transformation & positive development

August 13, 2010

Ah, an article discussing my most favorite Grand Lady, dateline 2010-08-08:

The discovery of oil at Canada Hill in 1910 not only opened up various opportunities but transformed the place from a small fishing village to a booming city.

THIS IS OUR HISTORY: Goligher (right) briefs Dr Chan on Shell’s achievement and history.THIS IS OUR HISTORY: Goligher (right) briefs Dr Chan on Shell’s achievement and history.

It has also brought transformation in the mindset and perspective of the people on certain aspects especially their future, Deputy Chief Minister Datuk Patinggi Tan Sri Dr George Chan said at the launching of Grand Old Lady Centenary Celebrations at Canada Hill yesterday.

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

Malaysia – Reducing Subsidies

August 12, 2010

I have a few scans from The Star. I find the grammar of the government primer on subsidies impressive, our PM must be hiring better English linguists to spread his message.

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

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

Malaysia Gears up for Deepwater Drive

August 11, 2010

Another shipping magnate will be able to finance his home in Spain soon.

From UpstreamOnline, 2010-07-28:

Malaysia’s state player PETRONAS Carigali will need three drillships between 2010 and 2015 to support the development of deep-water oil and gas fields, the company’s head of deep-water development, Rosli Hamzah said at a conference in Singapore.

Hamzah said two drillships, Transocean’s Deepwater Expedition and Frontier Phoenix are scheduled to arrive in Malaysian waters in September and November, respectively.

AmResearch’s Alex Goh said the average day rates for drillships with rated water depth of over 4000 feet are around $425,000.

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

From Bernama – Penjanabebas Says IPPs Don’t Benefit From Gas Subsidy

August 10, 2010

Oh, I can see this news article causing a look of disbelief on people’s faces. Maybe I should get the IEM to give a talk on the topic, so I can capture peoples’ expressions on my trusty Canon A-1.

Dateline 2010-07-21, taken from Bernama:

The Association of Independent Power Producers in Malaysia (Penjanabebas) on Wednesday said it is unfair to portray its members as beneficiaries of gas subsidy.

It said the cost of gas as a fuel to generate electricity is a component that the IPP industry does not derive any financial benefit from but instead, the savings from gas subsidy is passed on to consumers through the tariffs.

“Under the Malaysian IPP model – in line with the international norm in power purchase agreements – gas costs operate under a “pass” through” mechanism, whereby all gas supplies are provided directly to gas-fired generators at cost determined by the government.

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

Saturday Star 2010-08-07 – Job Opportunities

August 9, 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.

  • AMOGC (A major oil & gas company), Zakum Development Company (ZADCO) is looking for Contracts  Engineer – Operations, Maintenance & Marine + Logistic Services, Contracts & Procurement Engineer – Engineering / Project, Material Engineer. Send your CVs for the first two positions to be sent here, and for the last one to be sent here. Give me a donation, and I’ll tell you what the rates are (or you can hunt round for a copy of Sat’s paper).
  • Ranhill WorleyParsons has a whole page advert. From reading between the lines, I presume they have been awarded another big job, and will be maintaining their Miri office to support one of the PSCs via a long term contract. They want Snr/lead civil/structural eng, snr/lead process design eng (upstream), snr/lead electrical eng,  snr/lead piping engineers (piping and materials), snr/lead rotating eqt engineers,snr/lead mech eng (static equipment/ package), snr/lead instrument engineers,  snr project engineer, project eng, snr project controllers, cost estimators, proposal eng, buyer/expediter, snr piping designers (PDMS). And there are positions in Miri as well. Visit the website, or send your CVs here.
  • Shell is looking for people, though mostly in the subsurface department. Didn’t they just go through a rightsizing exercise? I guess they got rid of some deadwood, and need to fill those shoes. Visit www.shell.com/careers and select Students & Graduates → How Do I Apply for a Career with Shell → 3 Ways to Get a Career With Shell → Option A: Shell Recruitment Day → Apply Now. The ad asks you to quote reference TEA035G, but you know you should quote ‘razmahwata.wordpress.com’.

Kinda busy this week. My apologies if I’ve missed out on other adverts.

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

From Bernama – Tas Offshore’s Revenue Up 154.8 Per Cent To RM139 Million

August 8, 2010

Looks like I’m in the wrong business. Shipbuilding is it, which ties in with the worst-case Hollywood Waterworld scenario. Anyhow, if you are looking for process consultants for your FSO/ FPSOs, contact us.

Dateline 2010-07-29:

Shipbuilder Tas Offshore Bhd recorded a 154.8 per cent increase in turnover for its financial year ended May 31, 2010, at RM139.9 million from RM54.917 million the previous year.

Its pre-tax profit jumped 63.8 per cent to RM11.36 million from RM6.969 million previously.

“The current encouraging crude oil price range of US$75 to US$80 per barrel is deemed favourable for the oil major to expand their offshore deep sea projects and production activities.

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

From Reuters: Sept Tapis climbs on gas oil strength

August 7, 2010

Dateline 2010-07-29:

Prices of Malaysian Tapis crude climbed on Thursday reflecting market-wide support for distillate-rich grades in Asia-Pacific.

September Tapis cargoes were heard to have traded at premiums of about $4.10 to the Tapis APPI, a trader said, up from about $3.70 for lots exchanged earlier in the month.

The shutdown of Taiwan Formosa Petrochemical Corp’s 540,000 barrel per day (bpd) refinery also gave some support to distillate-rich grades in the region, some traders said.

Refiners with no upgrading capacity were looking for high-quality grades such as Tapis to increase fuel output and compensate for the shortfall resulting from the Formosa closure

…

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

« Previous Entries
Next Entries »