May 13, 2016
Old news, but hey…
Dateline 2016-03-25, Straits Times:
Former Malaysian Prime Minister Tun Abdullah Ahmad Badawi has been endorsed by the Cabinet as the new adviser to state oil and gas company Petronas, Premier Najib Tun Razak announced on Friday (March 25), replacing another former premier Tun Dr Mahathir Mohamad whose services were terminated earlier this month.
Tun Abdullah’s appointment is effective April 1, Malaysia media reported.
“The decision to terminate the appointment of Tun Dr Mahathir Mohamad was made by the Cabinet since he was no longer supporting the present government, especially with the launch of ‘Deklarasi Rakyat’ (Citizen’s Declaration) together with opposition leaders,” Najib said in a statement reported by state news agency Bernama.
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Posted by Wata
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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Posted by Wata
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
March 18, 2016
Eventually, perhaps. I wonder how Khazanah and PETRONAS interact?
Dateline 2016-01-22, The Star:
Standard & Poor’s Ratings Services says its recent revision of its oil price assumptions won’t immediately affect the ratings outlook of Petroliam Nasional Bhd’s (Petronas).
The international ratings agency said on Friday its revisions were US$40 per barrel of Brent crude in 2016 and US$45 in 2017.
However, it stated the recent revision of its oil price assumptions would not have an immediate impact on Petronas (foreign currency A-/Stable/–; local currency A/Stable/–; axAAA/–).
“We expect Petronas to maintain its critical policy role for Malaysia, its large direct and indirect contribution to the country’s budget, and its integral link with the Malaysian government through full state ownership,” it said.
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Posted by Wata
January 14, 2016
Dateline 2015-12-08, Daily Express:
The State Government will continue to further enhance Sabah’s position in the oil and gas industry despite the current economic challenges and decline in the global oil prices.
Sabah’s oil and gas sector is progressively growing and moving towards becoming the region’s important exploration and production centre.
“We, the government recognise the vast potential of this industry that would help accelerate the State’s social and economic development,” said Chief Minister Datuk Seri Musa Aman in his speech delivered by Deputy Chief Minister cum Industrial Development Minister Datuk Raymond Tan during the launching of the Symposium on Unlocking Oil and Gas Potentials in Sabah at Shangri-La’s Rasa Ria Resort and Spa here, Monday.
Currently, he said Sabah produces about 220,000 barrels of oil per day which is almost 40 per cent of the total national oil production of 557,000 barrels of oil per day.
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Posted by Wata
August 30, 2015
Ah, not enough. And where is the expert’s name in the article?
Dateline 2015-07-30, FMT:
The Sabah Government can generate RM7.2 billion a year from wielding ownership of the state’s oil and gas resources under the Federal Constitution Schedule 10 (Part V)(3) compared with the 5 per cent oil royalty of RM1 billion a year. “In fact, the oil royalty was no royalty at all but cash payment.”
Parti Kerjasama Rakyat (Pakar) Secretary-General Zainnal Ajamain was getting to the point that he wanted to make i.e. begging Petronas and the Federal Government for 20 per cent oil royalty, up from the measly present 5 per cent, should not arise. “The emergency laws were repealed on 24 November 2011. This means that we can exercise ownership of our oil and gas resources but provided we give up the 5 per cent so-called royalty option.”
Zainnal recalled that Chief Minister Musa Aman confirmed in the Sabah Assembly last year, in response to a question from Kapayan assemblyman Edwin Bosi, that all land matters within the state’s territorial waters automatically reverted to the Sabah Government following the repeal of emergency laws.
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Posted by Wata
August 9, 2015
Dateline 2015-07-06, TMI:
Liquefied Natural Gas (LNG) plants are unsuitable for Sabah, says Chief Minister Datuk Seri Musa Aman.
“Clearly, Sabah does not produce as much LNG as Sarawak, which has more of it and less oil.
“So an LNG plant in Sabah, such as the one operated by Petronas Bintulu, is not suitable. Sabah in any case has more oil than LNG,” Musa (pic, right) told the Sabah state assembly today.
He was replying to a question by Mohamad Alamin (BN-Bongawan), on why LNG plants were not being built in Sabah, during the First Supplementary Supply Bill 2015 debate.
Musa, who is also Sabah finance minister, said the LNG produced in Sabah would be channelled via the Sabah Oil and Gas Terminal in Kimanis through the Sabah-Sarawak Gas Pipeline to Bintulu’s LNG plant.
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Posted by Wata
July 24, 2015
Anyone have a handle on the 11MP? I would like the TL;DR version, please.
Dateline 2015-06-09, FMT:
The government must ensure that the country’s development is enjoyed equally by all the states, especially those which contribute more to national revenue.
Annuar Musa (BN-Ketereh) said the government should admit that most of the country’s national revenue was derived from oil and gas from waters off Sabah, Sarawak, Terengganu and Kelantan.
“As such, planning and strategy for these states don’t have to be like in our early years of independence.
“Sabah and Sarawak have great potential to contribute to national development,” he said when debating the 11th Malaysia Plan (11MP) in the Dewan Rakyat here, yesterday.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 