Dateline 2017-02-07, Astro Awani:
The recovery of global oil prices is expected to benefit Malaysian economy as it will lead to domino effect across other sectors and commodities.
According to OCBC Bank, the recovery of oil prices will also be the catalyst for Malaysian export dan supporting the ringgit value.
OCBC Economist Wellian Wiranto said the oil price would hover around US$D65 per barrel by the end of 2017, subsequently contributing positively to national coffers.
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Dateline 2017-02-04, FMT:
The Sarawak government has been urged to take charge of its oil resources to buffer Sarawakians against the cost of rising fuel prices.
Sarawak United People’s Party (SUPP) Youth publicity secretary Milton Foo proposed a separate tier of oil prices for the state as a “temporary mechanism” to ensure “Sarawakians are treated more fairly” in view of the state’s contribution to the country’s oil production.
Foo said petroleum found in Sarawak should belong “to the people of Sarawak.”
“We deserve a separate tier or system of oil prices from Peninsular Malaysia, which should be at least 20% lower since we have contributed so much to petroleum resources in Malaysia,” he said in a statement today.
Sarawak contributes 47% of Malaysia’s total oil production.
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Dateline 2017-02-03, Daily Express:
A second ammonia plant will be built at the Sipitang Oil and Gas Industrial Park (SOGIP) as part of the oil and gas industry’s development in Sabah this year.
Disclosing this, Deputy Chief Minister-cum-Industrial Development Minister Datuk Seri Raymond Tan said the project will see Sabah venturing into the natural gas downstream industry and would cost more than the existing Sabah Ammonia Urea Project (Samur) in Siptang.
“Sabah is looking into developing the oil and gas industry as another prospective area to be ventured into like engaging in natural gas development instead of selling our ample natural gas without value adding.
“What Samur does is turn the natural gas into solid substance like fertilisers and the project is worth about RM6 billion.
“Hence, for this year, Sabah will be venturing into another project which is a different one because Sabah will have a bigger share in setting up the second ammonia plant with the cost being more than RM6 billion,” he said at a Chinese New Year luncheon, Thursday.
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I was honoured to be the IEM representative for UniKl’s Malaysian Engineering Technology Festival (METFEST) on 10th December, 2016.
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Happy Wata IEM VP and Council Candidacy. Vote for me, and spread the word, wilya? 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.
Food choice of the week? I would suggest visiting Cicerello’s, Freemantle. Sponsor my flight and accomodation, so I can go there as well.
Seeing that Joe Dever has passed away, 
Flight from the Dark (Lone Wolf, Book 1)
Leave a Comment » | Malaysia, oil and gas | Tagged: Repsol | Permalink
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Not oil and gas, but an interesting trade to look into.
Dateline 2017-02-02, Borneo Post Online:
Malaysia’s first carbon credit rating company hopes to see other states follow Kelantan’s move after the state has given the company 25 per cent of its land mass for forest preservation and to reduce carbon dioxide (CO2) emissions.
Under the United Nations (UN) collaborative programme – Reducing Environment from Deforestation and Degradation (REDD), Climate Change Protector (CCP) Sdn Bhd was given 396,000 hectares of forest to preserve the flora and fauna of the region.
The company, specialising in renewable and sustainable energy, received the project under UN’s REDD initiative for a 30-year concession period with the Kelantan state government.
CCP chief executive officer Tang Too Siah said the recent memorandum of agreement (MoA) signed on January 9 was the Kelantan state government’s initiative to protect the region from illegal and legal mining activities.
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Leave a Comment » | investment, Malaysia | Tagged: carbon credit, CCP Sdn Bhd, Tang Too Siah | Permalink
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Dateline 2017-02-01, NST:
The bottoming out of oil prices will give impetus to the consolidation of upstream oil and gas (O&G) service providers in Malaysia, said an industry specialist. Frost & Sullivan Asia Pacific vice-president for energy and environment Ravi Krishnaswamy said companies are getting more confident as crude oil prices start to pick up, making mergers and acquisitions (M&As) a more viable option. Smaller companies find it more difficult to survive, especially where digital technology is concerned, as they are not able to invest and grow and meet the global criteria, he added. “The best thing to do for these smaller players is to look for synergies with other bigger players or get acquired as this would be a more resilient approach. “Although Petroliam Nasional Bhd (Petronas) has been very open about the industry’s need to merge and consolidate, it cannot force these companies to do so, hence the need to encourage such activities instead,” Ravi told NST Business recently.
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Dateline 2017-02-20, Reuters:
Malaysian state-owned oil and gas firm Petronas is aiming to sell a large minority stake in a prized upstream local gas project for up to $1 billion as it seeks to raise cash and cut development costs, two sources familiar with the matter said.
Petroliam Nasional Bhd (Petronas) is looking to sell a stake of as much as 49 percent in the SK316 offshore gas block in Malaysia’s Sarawak state, the sources told Reuters, a move that would be among its first major recent sales as it grapples with oil prices that have slumped by half over two-and-a-half years.
That slide has squeezed the cash flows of Petronas [PETR.UL], hurt its earnings and forced it a year ago to announce a 50 billion ringgit ($11.2 billion) cut in capital expenditure over four years.
Petronas, which accounts for a third of Malaysia’s oil and gas revenue, has also cut its dividend. Sources had told Reuters in September it is considering selling its majority stake in a $27 billion Canadian liquefied natural gas (LNG) plant, although the company denied it.
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Leave a Comment » | Malaysia, oil and gas | Tagged: Petronas, Sarawak, SK316 | Permalink
Posted by Wata
Dateline 2017-01-26, Borneo Post:
Despite the global uncertainty brought about by recent events such as Brexit and policy direction of the Trump’s administration, the outlook for energy and environment markets in 2017 is largely viewed to be balanced with a slight positive inclination.
This follows a period of downward revisions to the economic growth forecasts and volatility in financial and commodities markets globally, impacted by the slowdown from China and oil prices slump over a two year period.
The Conference of Parties (COP22) discussions in Marrakech were clouded by Trump’s threat to pull the US out of the COP21 Paris climate change accord.
While it may be difficult for the US to unilaterally scuttle the accord, since most of the world countries have affirmed their commitment to de-carbonisation, the challenge lies in actually meeting the US$100 billion/year financial commitments and also agreement on the transparency of future climate monitoring.
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Leave a Comment » | Malaysia | Permalink
Posted by Wata
Happy Wata IEM VP and Council Candidacy. Vote for me, and spread the word, wilya? 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.
Food choice of the week? I would suggest visiting Cicerello’s, Freemantle. Sponsor my flight and accomodation, so I can go there as well.
Seeing that Joe Dever has passed away,
Flight from the Dark (Lone Wolf, Book 1)
Leave a Comment » | Malaysia, oil and gas | Tagged: Repsol | Permalink
Posted by Wata
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Wata - Malaysian Oil and Gas Engineer 