June 19, 2012
Dateline 2012-05-21:
Gas Malaysia Bhd, which expects to raise RM734.45 million from its initial public offering (IPO) on June 11, will spend about RM130 million to RM140 million this year to expand its natural gas pipeline network.
Its managing director Datuk Muhamad Noor Hamid said the capital expenditure (capex) will be used to build a 70km to 90km natural gas pipeline in addition to its existing 1,800km network in Peninsular Malaysia. A couple of this pipeline will be built to connect new areas such as Padang Terap (Kedah) and Chuping (Perlis).
“For subsequent years, the capex will taper down to RM40 million to RM30 million per year,” he told a news conference after the launch of its prospectus on Friday.
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Posted by Wata
June 9, 2012
Yeah, we want to know. But no, you don’t have to explain to voters.
Dateline 2012-04-24:
PKR today called on Putrajaya to disclose details behind the settlement reached between Terengganu and Petronas after the former dropped its legal suit against the national oil company in a longstanding oil royalty row.
Party secretary-general Saifuddin Nasution said the Barisan Nasional-controlled state must explain to its voters what were the benefits received from the out-of-court agreement to disprove assumptions that their right to oil royalty was determined by political discretion.
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Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: BN, PKR, Putrajaya, terengganu | Permalink
Posted by Wata
June 2, 2012
Interesting. After the hoohaa with Lynas, we are now thinking of importing a project that was rejected in its home country due to environmental concerns. Seems to be a G to G project.
Dateline 2012-05-15:
A controversial investment project for naphtha cracking that was scrapped in Taiwan may now be set up in Malaysia.
Malaysian Prime Minister Najib Razak announced that a Taiwanese petrochemical company will invest US$ 120 billion in his country for naphtha cracking, oil refining and petrochemical production.
Following the announcement of the Malaysian Prime Minister, Taiwanese Minister of Economic Affairs Shih Yen-shiang said the firm referred to by Mr. Razak was Kuokuang Petrochemical Technology Company.
Kuokuang, in which Taiwan’s state-owned oil refiner CPC Corp. has a large stake, had earlier planned to invest in setting up a naphtha cracking and petrochemical complex in central Taiwan’s Changhua County.
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Posted by Wata
May 25, 2012
Dateline 2012-05-10:
Petronas Gas Bhd recorded net profit of RM333.4mil for its quarter ended March 31, 2012.
Revenue was at RM914.8mil. (There were no financial comparisons due to the changes in financial year from March 31 to Dec 31, effective from the financial period ended Dec 31, 2011).
In filings with Bursa Malaysia, the group said its earnings would remain stable as a result of the fixed fee structure under the Gas Processing and Transmission Agreement.
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Posted by Wata
May 18, 2012
Yes, this is outdated.
Dateline 2012-05-10:
The US$20 billion refinery and petrochemical integrated development (RAPID) project to be undertaken by Petronas in southern Johor will be timely in meeting burgeoning demand for energy and petrochemical products especially in Asia in the next 20 years.
To be launched by His Royal Highness the Sultan of Johor, Sultan Ibrahim Ibni Almarhum Sultan Iskandar on Sunday, the project would also enhance both Malaysia’s and the region’s petrochemical industry, attracting investments from world class oil, gas and petrochemical firms.
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Posted by Wata
May 12, 2012
Ah, near election time.
Dateline 2012-05-05:
THE argument against subsidising the country’s oil and gas has been made time and again, yet the decision to do away with it remains one that no government would be glad to make in a hurry.
One need only point to the recent examples of mass riots in Nigeria and Indonesia, where thousands took to the streets after their governments removed subsidies for fuel, as evidence that no matter the logic, this is hugely unpopular.
Nonetheless, it is a situation the Government has to resolve, and soon, as demand for gas heats up in the region.
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Posted by Wata
May 11, 2012
Been there. And what’s this ‘soon become a rich state’? I thought it already was.
Dateline 2012-05-02:
A petroleum engineering faculty will be set up soon in Universiti Malaysia Sabah (UMS).
Former prime minister Tun Dr Mahathir Mohamad said it was about time that UMS established a new faculty focusing on oil and gas as Sabah would soon become a rich state because of its natural resources.
With the setting up of the petroleum engineering faculty, Dr Mahathir was confident that Sabah would benefit from its oil resources.
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Posted by Wata
May 10, 2012
Yup, you heard it here.
Dateline 2012-04-26:
Petronas confirmed today that the Terengganu government has withdrawn its RM2.8 billion oil royalty suit against oil company and Putrajaya, but stressed it has no links to any out-of-court settlement over the matter.
According to The Edge Financial Daily on Monday, the Barisan Nasional Terengganu government had withdrawn its civil suit against Petronas and the federal government on March 21 but did not provide details of its out-of-court settlement.
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Posted by Wata
May 8, 2012
I say, What¿
Dateline 2012-04-23:
The Terengganu government has dropped its long-standing legal battle with national oil corporation Petroliam Nasional Bhd (Petronas) and the federal government over unpaid oil royalty payments amounting to several billion ringgit.
In response to queries from The Edge Financial Daily, Petronas said the Terengganu government had withdrawn its law suit on March 21 in “respect of the payment of oil and gas royalties”.
The oil corporation, Malaysia’s only Fortune 500 listing, declined to provide details of the settlement.
“We are not in a position to explain the settlement terms as these are under the purview of the federal government and the Terengganu government,” Petronas said.
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Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: oil, Petronas, royalty, terengganu | Permalink
Posted by Wata
May 5, 2012
Ah, a linkage between education and oil, or lack thereof. BTW, here’s an touching article from the SunDaily.
Dateline 2012-04-20:
PARTI Keadilan Rakyat (PKR) raised brows last week when it announced that if Pakatan Rakyat (PR) were to form a government, it would abolish the national higher education fund (PTPTN). The PTPTN was formed in 1997 with the objective of providing loans to students unable to afford fees in local higher education institutions. The larger argument of this proposal is to channel PTPTN funds more effectively to ensure more Malaysians can access education, itself a policy debate that surely must be taking place today.
Public focus, unfortunately, has somewhat shifted away from the issue of higher education itself, following PR leader Anwar Ibrahim’s suggestion that outstanding PTPTN loans of an estimated RM43 billion be written off with Petronas funds. The government however contends that doing so would “squeeze Petronas dry” and kill the goose that lays the golden eggs.
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Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: DSAI, Keadilan, Petronas, PKR, PTPTN | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 