Big money in oil? I’ll take a pay cut just to get a job now, undergrads say

March 11, 2016

Everyone is taking a paycut, though bottom feeders are getting hit worst.

Dateline 2016-01-19, Malay Mail:

They used to dream of a RM7,000 basic monthly salary in their first year of employment, with thousands of ringgit more just from allowances. But now, petroleum engineering students say they have doubts about their career choice as they witness the oil & gas (O&G) industry lay off tens of thousands of workers worldwide.

Malay Mail Online spoke to several petroleum engineering students who said much of their optimism and confidence for a solid career in the O&G industry has been shaken after seeing the unexpected prolonged oil price rout ravage what was once considered the most stable and lucrative job market.

…

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Posted by Wata

Uggah: Malaysia committed to B10 biodiesel

March 10, 2016

Dateline 2016-01-19, Malaysiakini:

Malaysia is still committed to its plan to raise its biodiesel mandate to 10 percent despite low oil prices, a senior government official said today.

Malaysia’s Plantation Industries and Commodities Minister Douglas Uggah Embas said they were in the final stages of consultation with stakeholders on the B10 programme, which mandates a minimum 10 percent of bio content in diesel, and will submit a cabinet paper on this by the end of February.

…

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Posted by Wata

IEM Shout Out – 2016/04 Full-Day HAZOP Training For Team Members – A Practical Approach

March 10, 2016

My technical division will be hosting a 1 day course on the 31st MAY, 2016. It is worth 6.5 CPD points, and held at (wait for it) Hilton PJ. Since I’m giving it, I expect hoards will have to be turned away at the gates. And it’s a big room, so I need to fill the seats.

A Hazard and Operability study is a formal and systematic and detailed examination of the process and engineering intentions of new or existing facilities which assesses the hazard potential and effects on the facility as a whole when operation is outside of the design envelope, or individual items of equipment malfunction.

This course is designed to educate participants in the HAZOP process from the perspective of a HAZOP team member. It is meant to provide both instruction and workshop sessions so that the participants:

  • Are familiar with the concept of ‘risk’
  • Are familiar with the theory behind HAZOP
  • Are familiar with the actual HAZOP workshop process
  • Have expectations as to what the HAZOP will (and won’t provide)
  • Understand what deliverables can be expected from a HAZOP
  • Have the opportunity to participate in HAZOP exercise in a safe environment
  • Opportunity to share HAZOP experiences

At the end of the session, the participants should:

  • Understand the responsibilities of all parties in the HAZOP
  • Have experience in a HAZOP session.
  • Understand the outcomes from a HAZOP session

Wata has 19 years of experience in the oil and gas industry, in both design and operations.

Register here, or download the form here.

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Posted by Wata

Malaysia should assume worst case for oil, says analyst

March 8, 2016

Dateline 2019-01-19, AsiaOne:

AS Teheran re-enters the oil market, pushing prices to below US$28 (S$40) a barrel and a 12-year low, an analyst has suggested that it may be necessary for Malaysia to pencil in an ultra-conservative average of US$10 oil in its revised Budget, given the rapid pace of decline of oil prices.

Whether the assumption is provocative or overly bearish, independent interest rate and foreign exchange strategist Suresh Ramanathan maintains that the oil-exporting country needs to “be pragmatic”, and that Putrajaya ought to base its oil inference on the worst-case scenario, rather than go with the crowd.

“It should go below consensus and if the numbers turn out better, they can be revised as Putrajaya will be ahead of the curve rather than behind it,” he said.

…

 

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Posted by Wata

Saturday Star 2016-03-05– Job Opportunities

March 7, 2016

Sad lost jobs week. Donate to your favourite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). 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 2Q2016. Send me your POs.
  • An associate of mine is looking for a technical safety part-time adviser. 2 Associates, actually. Needs to be needle sharp with respect to QRAs, and HSE safety cases. A calm demeanor to handle nonsensical questions from young engineers helps as well. Either that, or a drinking problem.
  • Nothing in the papers this week. See Happy note above.

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 Petronas to Slash $11.4 Billion in Capital, Operating Expenses

March 5, 2016

Dateline 2016-01-18, TWSJ:

Malaysia’s state oil firm, Petroliam Nasional Bhd., or Petronas, is planning to slash as much as 50 billion ringgit ($11.4 billion) in capital and operating expenditure over the next four years, according to an internal memo sent to staff by its chief executive officer.

The plan comes as the continuing rout in oil prices has hurt major oil companies world-wide, with the price of Brent crude tumbling to $28 a barrel on Friday. The slide could spell a further drop in Petronas’s revenue and earnings, as some domestic and international projects may become unprofitable.

…

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Posted by Wata

Petron introduces RON100 fuel

March 4, 2016

And how much are you willing to pay?

Dateline 2016-01-15, TMI:

Petron Malaysia Refining and Marketing Bhd today introduced the RON100 fuel into the Malaysian market.

The premium fuel, Blaze 100 Euro 4M, currently retails at RM2.80 per litre and is available in eight service stations in the Klang Valley and Johor with another 30 to 40 stations expected to carry the fuel in the next few months based on customer demand.

Petron has 560 stations nationwide.

…

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Posted by Wata

Oil and gas firms expected to cut capital expenditure by 40%

March 3, 2016

This was last year, by the way. I presume this has increased to 70% by today. And we are fundamentally boring.

Dateline 2015-12-29, The Star:

ANALYSTS are expecting oil and gas (O&G) firms to cut their capital expenditure by up to 40% next year as global oversupply of the commodity continues.

UOB KayHian said earnings risk for O&G companies had not bottomed out and that the global oil majors were expected to slash capital expenditure by between 10% to 40%.

“The sector is still fundamentally unexciting,” said UOB KayHian in a recent report.

Global oil prices hit their 11-year lows at US$36.25 a barrel last week, before it rebounded. The current oil price is a far cry from the US$115 per barrel registered in June 2014.

…

 

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Posted by Wata

Govt open to weekly oil price revision

March 1, 2016

Heck, why not make it daily, or allow oil price wars as mentioned in The Will to Compete?

Dateline 2015-12-31, NST:

There will be a weekly fuel price revision if the government agrees with the idea mooted by the Petrol Dealers Association of Malaysia (PDAM).

Deputy Finance Minister Datuk Johari Abdul Ghani said the government was receptive to the idea, adding that PDAM was expected to submit a proposal to the ministry soon.

The retail fuel prices have been fixed on a managed float system since Dec 1 last year, where retail prices are based on the monthly average world price of crude oil.

…

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

Saturday Star 2016-02-27– Job Opportunities

February 29, 2016

Sad end of Gravity Falls week. Donate to your favourite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). 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 2Q2016. Send me your POs.
  • An associate of mine is looking for a technical safety part-time adviser. 2 Associates, actually. Needs to be needle sharp with respect to QRAs, and HSE safety cases. A calm demeanor to handle nonsensical questions from young engineers helps as well. Either that, or a drinking problem.
  • Nothing in the papers this week. See Happy note above.

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.

During these trying times, perhaps you should focus on self improvement. The following are a good set of books to start automating your uncertainty budget tables.

The Cartoon Guide to Statistics, Hands-On Start to Wolfram Mathematica, Doubt-Free Uncertainty In Measurement: An Introduction for Engineers and Students

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

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