Time for Sarawak to set up its own oil company

May 8, 2016

Can I be the first to submit my CV?

Dateline 2016-03-24, Malaysiakini:

The total revenue of 44 petroleum companies around the world in 2015 is worth US$5,674,351 trillion and company Syarikat Petroliam Nasional Bhd (Petronas) was ranked 19th with revenue of US$100.74 billion after Gazprom.

The federal government-owned companies had contributed RM881.3 billion in dividends, taxes, royalties and duties to the federal government and the state government from 1974 until the end of 2014. If we include the foregone revenue (in the form of gas subsidy) totaling RM230.6 billion after regulated gas prices came into effect on May 1997, Petronas total financial contribution to the Malaysian economy could reach RM1.11 trillion in 40 years.

This is equivalent to RM27.75 billion a year or RM2.3125 billion a month!

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Malaysia Flagged As Asia’s Oil, Gas Hub

May 7, 2016

Dateline 2016-03-24, E&P:

Malaysia continues to position itself as a regional hub for oil and gas in Asia as it looks to grow production by 5% annually  by 2020.

Most of the growth is expected to come from enhancing output from existing fields and from new marginal fields coming onstream, delegates at OTC Asia heard.

Deep water is also a key area of growth for the country with nearly $6 billion expected to be invested in such projects by 2020.

Shell’s Malikai tension-leg platform project (TLP) is the latest in a line of deepwater projects in Malaysia, following the Gumusut-Kakap project and Murphy’s Kikeh FPSO scheme.

Malikai is progressing well with the completed TLP having been skidded onto the White Marlin heavylift vessel this week ready for transportation to the field toward the end of April.

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Petronas weathers oil price rout with cost-cutting, deferral of big projects

May 6, 2016

Dateline 2016-03-23, AsiaOne:

THE realities of low oil prices have forced Malaysia’s oil-and-gas (O&G) industry to undertake extensive cost- cutting, in addition to deferring projects demanding large capital expenditure, although national oil company Petronas has braved the global headwinds to press on with two multibillion-dollar projects.

Prime Minister Najib Razak noted at the official opening of OTC Asia (Offshore Technology Conference Asia) 2016 in Kuala Lumpur on Tuesday that Petronas had been forced to employ measures to ride out the storm resulting from an acute and dramatic decline in oil prices over the last two years.

Petronas CEO Wan Zulkiflee Wan Ariffin (commonly known as Wan Zul) said the Malaysian O&G industry has collectively saved RM2.44 billion (S$817 million) by implementing cost-cutting – through which efforts by Petronas towards “internal cash management, cost efficiency and simplification” yielded RM1.4 billion in cost savings alone in 2015.

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Petronas set to complete $235m water project

May 5, 2016

One of those headlines that causes you to do a double take.

Dateline 2016-03-15, The Straits Times:

Malaysia’s national oil company Petronas is completing a RM700 million (S$235 million) water-supply project in two months’ time to secure sufficient water for a massive petroleum complex being built in Pengerang in south-east Johor.

The dam and reservoir project near Kota Tinggi town will also alleviate a “water crisis” for some 100,000 residents in the Kota Tinggi and Pengerang districts, as some 20 per cent of the water collected at the new Sungai Seluyut reservoir will be for public use, officials said yesterday.

The project’s imminent completion comes amid concern in Johor about its high water consumption due to rapid industrialisation and climate change that has lowered reservoir levels.

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5 INCREDIBLE FACTS ABOUT PETRONAS EVERY MALAYSIAN SHOULD KNOW

May 3, 2016

Have a read, and comment. Kudos for someone making a list.

Dateline 2016-03-14, Cilisos (yes):

For most of us, Petronas is just another Malaysian GLC – one that we see every day, and possibly  even give business to on a regular basis – same la… like Unifi, or Tenaga Nasional.

However, you don’t see your former PM geting booted off the board on those other companies.

In fact, Petronas has been in the news recently for cutting 1000 staff, and needing to borrow money! But aside from being Malaysia’s only oil and gas company, what makes Petronas so special, and so important to Malaysians? As we started exploring, we realised one thing – there’s ALOT we don’t know about Petronas, and we should. Why? Because it supplies around 30% of our GDP. Yep. One company pays for 30% (some even say 40%) of Malaysia.

If that blew your mind, wait till you see what else we found out…

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Posted by Wata

Saturday Star 2016-04-30– Job Opportunities

May 2, 2016

Happy short week, week. 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’m looking for jobs for 3Q2016. Send me your POs.
  • Nothing in the papers this week.

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? Any weight loss diet.

Let’s get a bit nostalgic with the book selection.

Wetter, Louder, Stickier: A Baby Blues Collection (Baby Blues Scrapbook), BBXX: Baby Blues: Decades 1 & 2, Bedlam

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Posted by Wata

Malaysia’s Mahathir Mohamad’s role as advisor to Petronas terminated

May 1, 2016

In case you have been asleep the past month.

Dateline 2016-03-11, Reuters:

Former Malaysian premier Mahathir Mohamad post as advisor to the national oil and gas firm Petronas has been terminated, a statement from the Prime Minister’s office said on Friday.

“The Cabinet decided that, since Tun Mahathir is no longer supporting the current Government, he should no longer hold any position related to the Government,” the statement said.

Mahathir joined hands with several opposition leaders last week to sign a “Citizen’s Declaration”, calling for Prime Minister Najib Razak’s resignation.

Mahathir, Malaysia’s longest serving Prime Minister, took on an advisory role at Petronas after stepping down in 2003.

 

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Syed Hamid: Public transport fares not dictated by world oil prices

April 30, 2016

So there.

Dateline 2016-03-10, Malay Mail Online:

Fares for land public transport such as buses and taxis are not dictated by world oil prices even though the latter had been declining of late.

Land Public Transport Commission (SPAD) chairman Tan Sri Syed Hamid Albar said petrol and diesel contributed merely 10 per cent towards the operating costs of companies providing public transport services.

“There are other influencing elements, such as the goods and services tax (GST) imposed on vehicle spare parts.

“Aside from that, the companies have to bear with higher insurance premiums and fluctuating foreign exchange rates,” he told a press conference here today.

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MIDA Remains Optimistic Of Outlook For Oil & Gas Sector

April 29, 2016

It better. Out of curiosity, how does MIDA ‘approve’ O&G manufacturing projects?

Dateline 2016-03-10, Malaysian Digest:

The Malaysian Investment Development Authority (MIDA) is optimistic of the outlook for the oil and gas (O&G) sector, especially for downstream activities.

“We have seen the downturn.. Based on the market indication and the stabilisation of oil prices now, we think there will be more prospects in the industry,” Deputy Chief Executive Officer (CEO) Datuk N. Rajendran told reporters after presenting the Malaysia Book of Records certificate to Upstream Downstream Process & Services Sdn Bhd (UDPS).

The company was recognised by Malaysia Book of Records as the first Malaysian oil and gas company to obtain the MS 1000:2014 Shariah-based quality management system.

Last year, MIDA approved 13 O&G manufacturing projects, worth RM203.7 million, and facilitated three services projects, valued at RM3.7 billion, as well as, three Domestic Investment Strategic Fund projects worth RM84.3 million.

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PETRONAS Names PFLNG SATU in Ceremony at DSME’s Okpo Yard in South Korea

April 28, 2016

Dateline 2016-03-07, Rigzone:

Petroliam Nasional Berhad (PETRONAS) announced Monday that the company’s first floating liquefied natural gas (LNG) facility officially received its name, marking another milestone for Malaysia’s national oil and gas corporation in the global LNG business arena on March 4.

The PFLNG SATU was named at a ceremony held by PETRONAS, together with its strategic partners Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) and Technip, at the DSME shipyard here in Okpo, South Korea.

PETRONAS’ President and Group CEO, Wan Zulkiflee Wan Ariffin said that the floating LNG facility signified a breakthrough achievement not only for the company but also for Malaysia.

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