March 3, 2012
50% Royalty? Pleeze…
Dateline 2012-02-16:
Sabah State Reform Party (STAR) on Wednesday said that if Sabah were to receive 50 per cent oil royalty from Petronas, it would not even need Federal allocation to develop the state.
Its Deputy Chairman, Daniel John Jambun said this in response to a statement by Sabah BN Secretary Datuk Abdul Rahman Dahlan who said that Sabah would be compromised if Federal allocation or funds under the Malaysia Plan is reduced so as to pay the proposed 20 per cent oil royalty.
“Abdul Rahman forgot that under the Tenth Malaysia Plan (10MP), Sabah and Sarawak combined, are getting only about RM9 billion as compared to about RM100 billion for the Peninsula.
“At this rate of allocation, Sabah is actually getting less than RM1 billion per year throughout the five-year Malaysia Plan.
“As such, the Federal allocations are not much and hardly fulfil all the development needs of Sabah,” he said in a statement.
…
Leave a Comment » | 
business opportunity, Malaysia, Malaysian election, oil and gas | Tagged: Malaysia Plan, royalty, Sabah, star | 
Permalink
Posted by Wata
March 2, 2012
Here’s a shocker.
Dateline 2012-02-16:
Prime Minister Datuk Seri Najib Tun Razak said the downstream oil and gas industry will continue to be developed further as it can become a new money spinner for the country.
Citing the example of the Sabah Ammonia Urea (SAMUR) Petronas project, he said urea production would bring double value-added benefits to the country’s exports.
“If we compare with the export of crude natural gas, we lose out on value-added benefits,” he told reporters after officiating the ground breaking ceremony for the SAMUR project here today.
Najib, who is also Finance Minister, said 95 per cent of the urea plant’s output of 1.2 million tonnes, per year, would be exported, raking in foreign reserves of some US$4.8 billion, annually.
He said under the National Key Economic Area, the oil and gas sector is forecast to contribute an estimated RM241 billion towards the nation’s Gross Domestic Product, annually, until 2020.
…
Leave a Comment » | business opportunity, Malaysia, Malaysian election, oil and gas | Permalink
Posted by Wata
March 1, 2012
Dateline 2012-02-15:
Ex-Petronas CEO Tan Sri Hassan Marican is set to become chairman of Singapore Power Limited (SP) in June succeeding Ng Kee Choe who will retire on June 12, according to Energy Asia.
The news portal that focuses on the energy industry reported this yesterday, citing the island republic’s utility giant.
Marican, who left the national oil company at the beginning of 2010 allegedly due to friction with the Najib administration, has been accepting directorships with several foreign firms in the energy sector.
Among them are Singapore government-linked companies including SembCorp Industries Limited, SembCorp Marine Limited and Singapore Power, which he joined on February 15, 2011. He is also a director at Sarawak Energy Berhad and US oil and gas giant ConocoPhillips.
…
Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: Hassan Merican, Najib, SembCorp | Permalink
Posted by Wata
February 25, 2012
Dateline 2012-02-15:
The bid by an Umno MP to link the federal development funds to Sabah and the amount of oil royalty paid has triggered an immediate rebuke from the opposition.
The Sabah Progressive Party (SAPP) said that the insinuation by Sabah BN secretary and Kota Belud MP Abdul Rahman Dahlan that Sabah would suffer if the oil royalty was raised as it could lead to a reduction in federal allocation for development was nonsense.
…
Leave a Comment » | Malaysia, Malaysian election | Permalink
Posted by Wata
January 29, 2012
Dateline 2012-01-21:
The Jeffrey Kitingan-led State Reform Party (Star) chapter in Sabah wants the licensing of the oil and gas industry in Sabah to be left in state hands. Currently licensing is under federal control.
This is among several points listed in the party’s ‘Petroleum Masterplan’ which was unveiled here yesterday.
According to Kitingan the “rights of Sabah and the welfare of the people can no longer be compromised by the continued exploitation of its oil resources at the expense of the people of Sabah.”
Leave a Comment » | investment, Malaysia, Malaysian election, oil and gas | Tagged: Sabah | Permalink
Posted by Wata
December 17, 2011
Dateline 2011-12-02:
Malaysian state energy firm Petronas said on Thursday that its second-quarter net profit increased 54.3 percent from the year-earlier period, boosted by higher crude oil prices.
Petronas said in a statement that its profit for the three months ending Sept. 30 was 18.35 billion ringgit ($5.84 billion), up from 11.89 billion ringgit in the same quarter last year.
Revenue for the company, Malaysia’s only Fortune 500 firm, also increased 26.0 percent in the quarter to 71.83 billion ringgit year-on-year despite a “challenging” economic environment, it said.
…
4 Comments | business opportunity, Malaysia, Malaysian election, oil and gas | Tagged: Petronas | Permalink
Posted by Wata
July 19, 2011
I’m dormant, why didn’t they pick me?
Dateline 2011-07-02:
The Perak DAP today lodged a report against the Barisan Nasional state government for misusing its power in awarding a RM5.8 billion project to a RM100 dormant company to import liquified natural gas (LNG) from Qatar.
The project is located in Segari, Manjung.
The report was lodged with the Malaysian Anti-Corruption Commission (MACC).
“This is a clear case of misuse of power by BN in giving this RM5.8 billion project to the RM100 dormant company named Atigas Technology Sdn Bhd,” party state deputy chief V Sivakumar said at a press conference. Also present were two other Pakatan members.
…
3 Comments | business opportunity, Malaysia, Malaysian election, oil and gas | Permalink
Posted by Wata
March 1, 2011
Can a trickle of this wealth reach me?
Dateline 2011-02-14:
Kertih Polymer Park, which is under the East Coast Economic Region (ECER) master plan, will see new major investments for downstream oil and gas projects that could easily exceed RM1bil in the coming months, said ECER Development Council chief executive officer Datuk Jebasingam Issace John.
Jebasingam said one imminent investment would likely be announced by early second quarter and there were two more investments in the pipeline.
“There will be some major investments coming into Kertih Polymer Park as we are in various stages of discussions (with the multinational corporations). We will make announcements soon as we are not able to disclose more information,” he told StarBiz in an interview.
…
You can subscribe to an online version of the paper at the e-browse site.
9 Comments | Malaysia, Malaysian election, oil and gas | Tagged: Kertih | Permalink
Posted by Wata
January 29, 2011
Dateline 2011-01-18:
Malaysia should aim to liberalise the natural gas market by 2013 to allow industry players time to plan ahead to bring in their own supplies while the country is still a net producer.
President of the Association of Water and Energy Research Malaysia, S. Piarapakaran, said Malaysia was expected to become a net gas importer by 2016 based on the current consumption pattern.
“From 1990 to 2008, gas usage in Malaysia increased by 3.9 times to 27,000 ktoe (kilotonne of oil equivalent),” he told Bernama here Wednesday.
Piarapakaran was commenting on the government’s move to reduce subsidies to the energy sector and achieve a market-driven price structure by 2015 under the 10th Malaysia Plan.
…
Leave a Comment » | business opportunity, Malaysian election, oil and gas | Permalink
Posted by Wata
January 26, 2011
Ah, our good friends at RNZ are back in the news. When will their wealth spill over to me? Deposits into my offshore Nigerian dictator ‘I really need to get this money to your account’ account, please.
Dateline 2011-01-06:
KUALA LUMPUR: RNZ Integrated (M) Sdn Bhd has denied it was incapable of undertaking the detailed design work for the Maersk Oil Qatar (MOQ) project for Sime Darby Enginering Sdn Bhd (SDE).
Managing director/chief executive officer Rozali Ahmad said RNZ had achieved ISO9001 certification for provision of engineering, design, procurement assistance and project management services for the development and modification of oil and gas production, installation and process facilities.
“RNZ has the reputation for successful execution of numerous projects in Malaysia, Sudan, India, Vietnam, Turkmenistan, Iran and Qatar,” he told Bernama yesterday.
Rozali said RNZ had been involved in the Sumandak Selatan integrated development project (offshore Sabah), Bunga Tulip A development project (Malaysia-Vietnam border), Tanjong Langsat Port oil development project (Johor), Muglad Basin development project and Bashayer 2 marine terminal (Sudan) and Monopod development project (India).
…
You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.
Leave a Comment » | business opportunity, Malaysian election, oil and gas | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 