How Much Lower Do Malaysians Want Petrol Price To Be Before They Are Happy?

November 28, 2017

Dateline 2017-10-12, Malaysian Digest:

This week Malaysians were greeted with news of petrol pump prices finally going down 3 sen after seeing consecutive weeks of upward trend.

The most common complaint when prices keep inching upwards is that our country produces oil so it is our right to enjoy cheap petrol.

Is this really the case?

Political analyst Lim Sian See (LSS) sought to give Malaysians the big picture into how much or too little that we fork out for petrol.

In a recent posting on LSS Report  LSS highlights four key points that Malaysians need to understand about our petrol prices.

Firstly, is that due to long term government subsidies, our petrol price is far behind the current inflation rate.


CIA document reveals true intention of Malaysia formation

November 25, 2017

Linkbait. What other CIA documents have you uncovered today?

Dateline 2017-10-04, FMT:

A declassified CIA document, entitled “Implications of dispute over Sarawak continental shelf”, has raised questions on the formation of Malaysia and oil and gas reserves belonging to Sabah and Sarawak.
Sarawak activist Zulfaqar Sa’adi told FMT the document had exposed the real story of what happened in 1969 when Sarawak lost its territorial waters and with it, rich natural resources to the federal government.

The five-page document was believed to have been written in the weeks leading up to the day when the Continental Shelf Act 1966 was extended to the Bornean states.

Sarawak sets sail for O&G push

October 31, 2017

Dateline 2017-09-16, Borneo Post:

AS Sarawak ushers in Malaysia Day, it is a crucial to remember its first milestone in the oil and gas (O&G) industry, which started in Miri 107 years ago.

The first Sarawak Oil Mining Lease was signed by Rajah Charles Brooke in London in 1909, followed by the send-off by Shell of its senior geologist Dr Josef Theodor Erb and former Baram Division Resident Dr Charles Hose to Miri in 1910.

The first exploratory well was drilled on Aug 10, 1910 using an oil rig engineered by a Canadian named McAlpine – the factor contributing to the place being named ‘Canada Hill’.

Oil flowed out two months later.

Sarawak Oilfield Ltd – a subsidiary of the Shell/Royal Dutch Group – was established to run the operations from Lutong. It was renamed Sarawak Shell Oilfield Ltd and later, Sarawak Shell Bhd – marking the company’s long association with Sarawak.

Ex-Caltex operators planning to sue ministry

October 29, 2017

Dateline 2017-09-14, FMT:

Two former Caltex petrol station operators are planning to sue the domestic trade, cooperatives and consumerism ministry (KPDNKK) for claims the ministry did not defend its 2000 circular on implementation of self service at petrol stations across Malaysia.

Former operators Fadzilah Abd Hamid and his wife, Fauziah Ahmad Fadzil, have alleged that this circular had caused their contracts to be terminated by Chevron Malaysia Limited, which owned Caltex stations here.

“We adhered to the April 11, 2000 circular which said we operators do not need to bear any cost for the implementation of the self service system and the oil company is the one which should fork out the money for the system,” he told reporters at a press conference today.

He added Caltex, as it was known then, had ordered them to pay the cost for the system’s implementation, going against the circular’s order.

Sarawak will announce Petros concessions as soon as GE14 is called, says analyst

October 10, 2017

Dateline 2017-08-29, The Malaysian Insight:

SARAWAK is expected to publicise oil concessions, having settled a legal question over ownership of a continental shelf off its shores, as soon as the general election is called, said a prominent political analyst.

Professor James Chin, director at the Asia Institute at the University of Tasmania, was speaking on newly-formed state oil company  Petroleum Sarawak Bhd (Petros), whose board members were announced by the state government last Friday.

“Sarawak recently set up Petros because it is preparing for the day the federal government will recognise that the continental shelf belongs to Sarawak, so there’s a commercial entity ready to take over immediately.

“But the reason why all this is not announced because the election is not yet announced. Once the election is announced, all these concessions will be announced to the public,” he said.


Leaner, meaner Petronas targets key markets for growth

September 19, 2017

So, do we get leaner, meaner expats than the current crop?

Dateline 2017-08-15, NST:

Malaysian state energy firm Petronas will focus on a few select markets for expansion, its CEO told Reuters, as it positions itself as leaner and meaner for a medium-term period of relatively low oil prices.

Hurt by a slump in oil prices, Petroliam Nasional Berhad has cut its costs and its spending, deferring some projects in an effort to help profitability in a tough energy market.

Rather than having its operations “scattered all over the place,” CEO Datuk Wan Zulkiflee Wan Ariffin wants the company’s geographical profile to be concentrated, he said in an interview on Tuesday at the Petronas Towers, the world’s tallest twin towers.

“We must have geographical concentration to be more cost effective,” Wan Zulkiflee said.

For its upstream business, Petronas will focus on South East Asia and Canada, where it already has huge reserves, he said, adding that Mexico – where Petronas has recently picked up three blocks – will be another focus.


Malaysia’s Sarawak State Announces Formation Of Oil And Gas Company Petros

September 3, 2017

Consider this more of recording history, rather than relating news.

Dateline 2017-08-07, Nikkei Asian Review:

Petros, a petroleum exploration and production company owned by a Malaysian state government, has been officially formed, national news agency Bernama reported on Monday citing the state’s chief minister.

Petros was formed by the state of Sarawak to participate in the extraction of oil and gas in Sarawak “while still pursuing its request for a 20% royalty” from national oil company Petroliam Nasional, Bernama reported.