Sarawak CM claims Petronas told to withdraw court appeal against paying sales tax

July 8, 2020

Dateline 2020-06-12, Malay Mail:

Putrajaya has directed national oil company Petronas not to proceed with its appeal after losing a court case and being ordered to pay Sarawak the sales tax amounting to RM2.8 billion, Chief Minister Datuk Abang Johari Openg said today.

He said Petronas had filed an appeal of the High Court’s decision on the application for a judicial review against the imposition of the Sarawak Sales Tax on the import of petroleum products before the change of the federal government from Pakatan Harapan (PH) to Perikatan Nasional (PN).


China’s aggression amid global crisis

July 7, 2020

Dateline 2020-07-11, Inquirer:

On April 16, China’s Haiyang Dizhi 8 survey ship reportedly entered waters near Malaysia. The next day, the ship was seen close to the West Capella oil exploration vessel operated by Malaysia’s oil company, Petronas. Malaysia’s foreign minister Hishammuddin Hussein called for disputes in the strategic waterway to be resolved “peacefully.”


Govt has not revoked petrol, diesel price control order, says domestic trade minister

July 5, 2020

Backing down?

Dateline 2020-07-10, Malay Mail:

The government has not revoked the order on ceiling retail prices of petrol and diesel as reported, said Domestic Trade and Consumer Affairs Minister Datuk Alexander Nanta Linggi.

As such, he hoped the public would not make misleading statements about the matter as this could give rise to misunderstandings.

“No no no. Don’t be misled. Don’t misunderstand it. We have not removed the so-called ceiling price, it is the same,” he told a press conference after a survey of barber shops, hair and beauty salons at a mall here, following the government’s decision to allow the sector to resume operations today.


Malaysia’s Sarawak state to pursue sales tax lawsuit against oil firm Petronas

July 4, 2020

Dateline 2020-07-11, Reuters:

Malaysia’s energy-rich Sarawak state will pursue legal proceedings against national oil company Petronas over the non-payment of sales tax, backtracking on a settlement agreement reached last month, national news agency Bernama reported.

Petronas and Sarawak had reached a settlement in May, with the energy company agreeing to pay 2 billion ringgit ($470 million) in back sales taxes, and Sarawak agreeing to drop a civil lawsuit it filed last year to seek the funds.


SHARKS IN THE WATER—PART 3

July 3, 2020

There’s a short para on EMEPMI’s plans in SEA.

Dateline 2020-07-09, Enverus:

With Guyana-Suriname now firmly established as a world-class, likely multi-billion-barrel oil discovery, ExxonMobil will be peering into the future and considering where to place its next bets. Will its crystal ball portend a world in which oil demand has suffered a permanent decrease due to pandemic-related economic slowdown and concomitant opportunistic government policy lurches favoring renewable energy sources? This might incline ExxonMobil toward further expansion of its global natural gas and LNG business.


Putrajaya revokes price ceiling for petrol, diesel

July 2, 2020

Dateline 2020-06-10, Malay Mail:

The Domestic Trade and Consumer Affairs Ministry has rescinded the price control order that restricted RON95 petrol to RM2.08/L and diesel to RM2.14/L.

The revocation was announced in a gazette dated June 3 while the order itself was approved by Domestic Trade and Consumer Affairs Minister Datuk Alexander Nanta Tinggi on April 10.

“The Price Control and Anti-Profiteering (Determination of Maximum Retail Price for Petrol and Diesel) (No. 8) Order 2020 [P.U. (A) 64/2020] is revoked,” the gazette stated.

The price ceiling had been introduced after the Pakatan Harapan coalition won the 14th general election and previously restricted the maximum retail price for RON95 and diesel regardless of global oil price levels.


Petronas CEO to Leave for Role at Malaysia Airlines

July 1, 2020

Dateline 2020-06-08, OE:

Malaysia’s prime minister on Saturday appointed the finance chief at Petroliam Nasional Bhd (Petronas) to take over as chief executive at the state energy company, at a time when lower oil prices and the coronavirus pandemic have hit the firm’s profits.

The government of premier Muhyiddin Yassin has made a series of management changes at state-owned companies and government agencies since coming to power in March following the unexpected resignation of his predecessor, Mahathir Mohamad.

Tengku Muhammad Taufik Tengku Aziz, currently chief financial officer will take over from Wan Zulkiflee Wan Ariffin as Petronas CEO from July 1, the prime minister’s office said.


Malaysia Names Petronas CFO Muhammad Taufik as New CEO

June 23, 2020

So, a change of guard to prevent a tarnished image of the old beloved Great Leader, as the new Great Leader slashes and hashes to meet the bottom line of the Malaysian Beloved Leader?

Dateline 2020-06-06, Financial Post:

(Bloomberg) — Malaysian Prime Minister Muhyiddin Yassin appointed a new chief executive officer at national oil company Petroliam Nasional Bhd., replacing a veteran of almost four decades with the chief financial officer.

Petronas’ President and CEO Wan Zulkiflee Wan Ariffin will become chairman of Malaysia Airlines Bhd., the premier said in a statement on Saturday. He will be replaced by Tengku Muhammad Taufik Tengku Aziz. Both appointments are effective July 1.


CEO of Malaysian oil company Petronas to resign after five years – Bernama

June 22, 2020

Dateline 2020-06-06, Reuters:

The chief executive of Malaysian state energy firm Petroliam Nasional Bhd, or Petronas, will soon step down after five years at the helm, state media reported on Saturday.

Wan Zulkiflee Wan Ariffin will resign as president and chief executive officer, and will be succeeded by an internal candidate, state news agency Bernama said, citing unidentified sources.


Petrogas Relinquishes Interest in Malaysia Onshore Block

June 20, 2020

Interesting.

Dateline 2020-06-02, Steel Guru:

RH Petrogas has announced that its subsidiary RHP (Mukah) Pte. Ltd will not be seeking a further extension of the Block SK331 Production Sharing Contract when its current exploration period expires on 5 June 2020. The Group has arrived at this decision after taking into consideration the block’s geological risks and the magnitude of additional exploratory works required to further appraise the prospectivity of the block, as well as the current challenging business environment facing the oil and gas industry. As such, the Group will be proceeding to relinquish the block, which is located onshore Sarawak, East Malaysia.