Tabung Haji slams attempt to link THHE financial performance to MACC arrest

December 24, 2016

Dateline 2016-11-18, NST:

Lembaga Tabung Haji (TH) has reiterated that it will not compromise on corruption, misappropriation and abuse of power.

Such matters, said TH, are viewed seriously, with the company constantly taking steps to enhance its corporate governance and good business practices measures in its operations.

Should such issues arise, TH will extend its fullest cooperation to the relevant authorities, it said.

“On the matter of the allegation linking business challenges faced by TH Heavy Engineering (THHE) to the recent arrest of the former CEO of the company, we believe this is clearly misleading and an attempt to confuse the public,” it said in a statement today.

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Petronas’ net profit soars on lower impairment losses, other factors

December 23, 2016

Dateline 2016-11-16, The Star:

Petroliam Nasional Bhd’s (Petronas) net profit more than tripled (+349%) year-on-year (y-o-y) to RM6.07bil for the third quarter ended Sept 30, 2016, despite a 19% fall in revenue to RM48.74bil.

This was attributed to a much lower net impairment on assets of RM395mil compared with RM5.43bil a year earlier as well as lower product and production costs, favourable foreign exchange rate and lower well costs.

Announcing its interim financial report on its website on Wednesday, the national oil company said that sales volumes of both petroleum products and crude oil declined y-o-y (by 3% and 1% respectively) during the quarter.

For the nine-month financial period, however, Petronas’ net profit was almost halved (-49%) to RM12.25bil on 22% lower revenue of RM146.31bil.

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IEM Shout Out – 2017-01 Two-Day Course on Centrifugal Pump Theory And Application-Basic Principles

December 22, 2016

My technical division will be hosting a 2 day seminar on the 23rd and 24th January, 2017. It is worth TBA CPD points, and held at Wisma IEM. The course will be presented by Ir. Hassanazhari Ahdi. Process engineers, can you please attend?

CENTRIFUGAL PUMP THEORY AND APPLICATION shall provide the audience with the knowledge and principles of pump design, sizing, selection and performance analysis. The course will be beneficial to engineers dealing with pump and will 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 course are to provide exposure to the audiences on understanding of fundamental design of centrifugal pump, the critical pump parameters when evaluating pump selection and making the best decision on specification.

Ir. Hassanazhari Ahdi has been in the oil and gas industry for 27 years working for companies such as Technip, TPVN, KPOC and SDE. His core expertise is in design works, erection, testing, hook-up and commissioning.  Currently, he is an independent consultant providing consultancy for various design offices. He graduated from University of Malaya with a degree in Mechanical in year 1987 and a Masters in Engineering from UTM in year 2006. He has served many major Oil and Gas Companies locally and abroad such as PETRONAS, SHELL, EXXON-MOBIL, QATAR PETROLEUM, QATAR MEARSK OIL, TOTAL, CONOCO-PHILIPSs and CUU LONG.

Register here, or download the form here.

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Analysts have mixed views on Petronas

December 20, 2016

Dateline 2016-11-17, The Star:

Analysts are generally mixed on the performance and outlook of Petroliam Nasional Bhd (Petronas) going forward, amid the uncertainty that blankets the global oil and gas (O&G) sector.

Hong Leong Investment Bank Research (HLIB) said on Thursday that the O&G player registered a 12.7% higher core net profit at RM7.1bil in the third quarter of financial year 2016, on a year-on-year basis (YoY). However, its core net profit for the first nine months of financial year 2016 (9MFY16) dropped to RM24.8bil, down 19.4% YoY.

Core profit after tax for the upstream segment declined by 32.1% YoY in 3QFY16 mainly due to lower realised oil prices in the quarter, consistent with global oil price trend and lower LNG volume due to lower trading volume. This is despite an increase in production volume YoY due to resumption of operations in of Sabah Sarawak Gas Pipeline, higher facilities uptime in Malaysia and Canada and better production from Indonesia and Australia.

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Sarawak’s right to repossess petroleum resources

December 19, 2016

Dateline 2016-11-16, FMT:

By Suarah Petroleum Group

Sarawak came together with Sabah, Singapore, and Malaya, supposedly partners of equal status, to form Malaysia pursuant to the Malaysia Agreement 1963 (MA63), with its territory, including its own continental shelf and all attached resources, intact.

The assurances of this fact and intent in the new federation were stated clearly by the new prime minister himself (fig.1), to allay any doubt as to the nature of the union between the parties concerned: “…When the Borneo territories become of Malaysia, they will cease to be a colony of Britain, and they will not be a colony of Malaya – I thought I made it clear – they will be partners of equal status.”

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Saturday Star 2016-12-17 – Job Opportunities

December 19, 2016

Happy Rogue One. Be inspired by Rogue One, come discover ingress, join the rebellion by contacting.

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 a mech inspector, for a job in China. If you are in between jobs, contact me. As always, there will be a serious pay cut.
  • I’m looking for jobs for 1Q2017. Send me your POs.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? Whatever employees Rabbit B and Rabbit S are eating, looks healthy.

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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Petronas 8th best employer in Asia Pacific O&G industry

December 18, 2016

Dateline 2016-11-15, FMT:

Petronas has been rated as the eighth best employer among major companies in the oil and gas industry in Asia Pacific.

Oil and gas industry talent recruitment service provider Rigzone, which released its 2016 Ideal Employer Survey findings Monday, rated Shell as number one, followed by Chevron, ExxonMobil, BP and Halliburton.

The 2016 Ideal Employer Survey attracted responses from 8,400 people in more than 100 countries.
More than 3,000 oil and gas industry companies were named in the survey, according to a press release from Rigzone.

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Petronas profit jumps quarter-on-quarter on lower impairment costs

December 17, 2016

Dateline 2016-11-16, Reuters:

Malaysian state-owned oil firm Petroliam Nasional Bhd (Petronas) [PETR.UL] said on Wednesday its third-quarter profit after tax rose to 6.1 billion ringgit ($1.40 billion) from 1.6 billion in the second quarter.

The jump was due to lower net impairment on assets and higher average prices for most products, although it was partially offset by lower sales volumes, it said in a statement.

Revenue for the quarter stood at 48.7 billion ringgit, a 1 percent gain from the preceding quarter.

“The current oil price environment continues to pose significant challenges to the industry and the outlook remains uncertain,” Petronas said.
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No decision yet on building nuke power plants in M’sia

December 15, 2016

Build, already.

Dateline 2016-11-04, Daily Express:

The government has yet to make any decision on the construction of nuclear power plants in Malaysia, said Minister in the Prime Minister’s Department Datuk Seri Nancy Shukri.

Although the Economic Transformation Programme (ETP) targeted the nuclear power plant to be operational by 2021, she said the date would be postponed as the government needed to take into account latest developments and prevailing sentiments at home and abroad, especially regarding the impact of March 2011 tsunami on the Japanese nuclear power programme.

“Initial information obtained from the feasibility study shows that the timeline required for the implementation and completion of the nuclear power plant is at least 11 years from the date the government made the decision,” she said when replying to Datuk Noor Ehsanuddin Mohd Harun Narrashid (BN-Kota Tinggi) at the Dewan Rakyat sitting Thursday.

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Marketing Rounds – Recruitment Drive at PP(T)SB

December 14, 2016

In addition to the IEM visit to PP(T)SB, we also helped engineers maneuver there way through the thickets of the IEM membership process. Well, we thought we help, though the listener may have had other ideas. tl;dr: If your application to the IEM/BEM has been quiet for a month, call.

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