Moody’s: Oil and gas loans less than 4% of 6 Malaysian banks’ total loans

April 14, 2017

Dateline 2017-03-03, The Star:

Oil and gas loans made up less than 4% of Malaysian’s six largest banks’ total loan portfolios at end-2016, says Moody’s Investors Service.

The international rating agency said on Friday  that by contrast, the asset quality of the banks’ Malaysian operations remained robust in 2016.

“While a few banks experienced marginal rises in loan impairments from borrowers in the commodities sector, signs of broad asset quality deterioration across the corporate and household sector were absent,” it said.

Moody’s also pointed that the full year 2016 results of the six largest Moody’s-rated Malaysian banks by total assets show continued asset quality deterioration from their overseas loan portfolios, weaker profitability from slower revenue growth, as well as higher credit costs.

The banks assessed in Moody’s report are: Malayan Banking Bhd (A3/A3 stable, a3); CIMB Group Holdings Bhd (Baa1 stable); Public Bank Bhd (A3/A3 stable, a3); RHB Bank Bhd (A3/A3 stable, baa3); Hong Leong Bank Bhd (HLB, A3/A3 stable, baa1); and AmBank (M) Bhd (Baa1 stable, baa3).
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Petrol station retailers against fuel ceiling price’

April 13, 2017

Dateline 2017-03-01, Borneo Post:

Petrol station retailers across the country do not welcome the government’s proposal to impose ceiling price on all fuel grades at petrol stations nationwide, says Sarawak Petroleum Products Agents Association president Edwin Banta.

Retailers are concerned that the ceiling price proposal would create a non uniform price for all fuels sold at petrol stations because this will lead to a price war among petrol brands and also between individual petrol stations, which means petrol stations will have to sacrifice their short term margins.

The Ministry of Finance should continue to fix the pump prices in the market and possibly find a different solution to the current problem which will not lead to more problems, he stressed.

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Malaysia to implement Euro 4M specifications for 95 RON gasoline in Oct 2018

April 12, 2017

Dateline 2017-03-01, S&P Global:

Malaysia has set a timeline of October 1, 2018 to implement Euro 4M gasoline specifications for the 95 RON grade in the country, according to a Malaysian government official.

Malaysia implemented Euro 4M for 97 RON gasoline at retail stations in September 2015, but has yet to make the switch for 95 RON gasoline.

The country plans to implement Euro 5-compliant fuels for 95 RON and 97 RON gasoline on September 1, 2025, and Euro 5 diesel on September 1, 2020, according to the country’s clean fuels roadmap, said Datuk Shahrol Halmi, director of Oil, Gas & Energy at the Performance Management and Delivery Unit in the Prime Minister’s Department.

Oil companies are free to introduce Euro 4M and Euro 5 gasoline and diesel specifications earlier than the stipulated timeline, Halmi said.

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State to tap marginal oilfields

April 11, 2017

Dateline 2017-04-01, Borneo Post:

Turning Bintulu into a gas hub, continuing to exploit small pool reserves and enhancing local participation in both upstream and downstream activities are among the key focus areas to boost Sarawak’s position in the oil and gas sector.

In highlighting this, Chief Minister Datuk Amar Abang Johari Tun Openg said these measures were on top of the government’s persistent push for 20 per cent oil royalty from the federal government and Petronas.

“Oil and gas resources are still available in Sarawak based on a seismic study showing that hydrocarbons are still found in certain exploited areas either in the form of oil or gas,” he pointed out.

As such, he informed that the state government had indicated to Petronas, Sarawak’s interest in continuing to tap into the marginal fields of oil and gas reserves in the state.

Abang Johari was addressing OceanMight Sdn Bhd’s safety achievement celebration for reaching one million man-hours without Loss Time Injury for the EPC Kinabalu Redevelopment Project which was held in its yard at KKB Engineering Bhd, Jalan Bako here.

Marginal fields known as ‘tekih tekih minyak’ by Sarawakians, according to Abang Johari, are small oil and gas reserves that have been exploited and which big oil companies like Shell or Petronas were not interested in tapping further.

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Saturday Star 2017-04-08 – Job Opportunities

April 10, 2017

Happy Wata  is an IEM Council Member Week (and Ir. Abdu Razak Yakob as well), IEM AGM and Annual Dinner. 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. 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 3Q2017. Send me your POs.

Food choice of the week? The nostalgic food stall, near your parents home. McD Bangsar Baru does not count.

Seeing that Joe Dever has passed away, you may want to revisit his books:

Flight from the Dark (Lone Wolf, Book 1), Legends of Lone Wolf Omnibus 1, War of the Wizards (The World of Lone Wolf, Book 4)

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Sarawak keen to turn Bintulu into gas industry hub

April 9, 2017

Dateline 2017-02-28, Malay Mail:

The Sarawak government is striving to turn Bintulu into a gas industry hub, says Chief Minister Datuk Amar Abang Johari Openg.

“We have brought up this (proposal) to the federal government (in our quest) to seek the cooperation of Petronas into making Bintulu a gas hub.

“If Pengerang (Johor) can become a refinery hub, we want Sarawak (Bintulu) to be the gas hub, and I have indicated this to Petronas,” he said.

He was speaking at the 1,000,000 Manhours Milestone Without Any Lost Time Injury for the EPC Kinabalu Re-Development Project Ceremony at Muara Tebas here today.

Abang Johari said the oil and gas industry should be centralised in Bintulu (in northern Sarawak) as its infrastructure and surroundings were feasible to cater to the industrial needs.

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AELB: Malaysian personnel can handle chemical, nuke threats

April 8, 2017

Dateline 2017-02-28, Yahoo News:

 Malaysia has taken a step forward by equipping its personnel with the skills and knowledge in handling possible chemical, biological, radiological, nuclear and explosives (CBRNe) threats.

Atomic Energy Licensing Board (AELB) director-general Hamrah Mohd Ali said the agency had experts trained to handle activities or incidences, especially on radiological and nuclear threats.

“CBRNe (attacks), if they happen in our country, will be coordinated by the National Security Council, but we will take the lead as the technical agency when it is related to radiology and nuclear threats.

“We will continue to improve our knowledge on radiological and nuclear threats through continuous engagement and exercise conducted with international parties, such as the International Atomic Energy Agency.

“We also keep up with the latest and more advance technology to detect new versions of the threats,” he told the New Straits Times.

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Malaysia says Saudi Aramco will invest $7 billion in oil hub

April 7, 2017

Dateline 2017-02-27, Seattle Times:

Malaysian Prime Minister Najib Razak said Monday that oil major Saudi Aramco will invest $7 billion in a mammoth oil processing hub in Malaysia, making it the single largest investor in the Southeast Asian country.

The announcement came on the second day of a visit by Saudi King Salman, who is on a multi-nation tour to boost economic ties with Asia.

Najib said Aramco and Malaysia’s national oil company Petronas, which is leading the project, will sign the agreement Tuesday.

 “This is a significant investment and more details will be announced tomorrow,” Najib told a news conference after meeting with the king. He said Aramco’s investment is a “strong vote of confidence” in Malaysia’s economy and that bilateral relations are at an “all-time high.”
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Pengerang has potential as largest oil and gas hub in Asia

April 6, 2017

Yeah, Yazid!

Dateline 2017-02-24, Malay Mail:

The subdistrict of Pengerang in Johor thrives as a downstream oil and gas industry hub, with investment worth billions of ringgit as a result of brilliant strategies introduced by Johor Petroleum Development Corporation Berhad (JPDC).

JPDC, a subsidiary of Malaysia Petroleum Resources Corporation (MPRC), has a big hand in the development of the Pengerang Integrated Petroleum Complex (PIPC).

The complex situated in Pengerang, which sprawls over 8,093 hectares of land, is an integrated hub with an investment potential of RM221 billion (US$52 billion). Its facilities include liquefied natural gas (LNG) and petrol storage tanks, petrochemical plant, regasification plant, refinery, power plant and facilities to decompose naphthalene.

“JPDC is optimistic that it will attract more investment to PIPC,” said its chief executive Mohd Yazid Jaafar.

 

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Octanex selects FPSO for Ophir oil field development offshore Malaysia

April 5, 2017

Dateline 2017-03-01, Your Oil and Gas News:

Octanex advises that a donor vessel has been secured for conversion into an FPSO for use on the Ophir field, with conversion works to commence shortly.

MTC Engineering (MTCE), an experienced Malaysian oil and gas marine contractor, has purchased an oil tanker, Puteri Bangsa, for conversion into the MTC Ledang FPSO. Engineering design works for the conversion are well advanced and conversion works on the tanker will shortly commence.

The MTC Ledang FPSO will have a small process facility module with capacity for 15,000 barrels of fluid per day and gas flaring and will be capable of storing up to 350,000 barrels of crude. It will be anchored to the seabed at the Ophir field and connected to the Ophir platform via a flexible 8” pipeline. It is contracted to be at the Ophir field at a competitive rate for a period of three years, with a one year extension option.

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