Malaysia’s floating LNG vessel stops LNG production ahead of relocation

April 24, 2019

Dateline 2019-03-11, S&P Global:

Malaysia’s floating LNG export vessel PFLNG Satu has stopped producing LNG in preparation for a relocation exercise, national oil company Petronas confirmed in a statement late Friday.”However, as of today, it still remains at the Kanowit gas field, offshore Bintulu, Sarawak. An announcement on this will be made in due course,” Petronas added.
The production halt will have negligible impact on the spot market as the plant’s LNG output has been well below its full capacity, with few cargoes being offered on the market since it started operations, according to a Singapore-based LNG trader.
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Malaysia’s Petronas grows freely, Indonesia’s Pertamina hobbled by Govt intervention

April 23, 2019

Dateline 2019-03-08, The Star:

On the southernmost edge of the Asian landmass and on the shores of the busy shipping lanes of the Singapore Strait, Malaysia’s Petronas is starting up a state-of-the art petroleum processing hub, called RAPID.

The huge complex in Malaysia’s Johor province is currently testing its systems, running crude oil through its fuel processing units and labyrinth of pipes and producing large exhaust gas fires from its flare tower. The flames are clearly visible for miles around, including on Indonesian islands just across the narrow strait.

The 300,000 barrels-per-day (bpd) RAPID or Refinery and Petrochemical Integrated Development will come onstream around May. Among other customers, it will sell fuel to Indonesia, shining a spotlight on the contrast between Petronas and its Indonesian peer Pertamina.
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Malaysia set to become LPG and LNG hub by 2022, says deputy minister

April 22, 2019

Dateline 2019-03-07, Malay Mail:

Malaysia is set to become the storage and distribution hub of liquefied petroleum gas (LPG) and liquefied natural gas (LNG) in the region within the next three years, Deputy Transport Minister Datuk Kamarudin Jaffar said.

He said the hub was being developed in collaboration with Singapore’s Global Petro Storage Group (GPS) and Norway’s Equinor, both of whom were global players in the industry.

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Sabah politician urges Dr M to also review “unfair” oil royalty aside from water issue with Singapore

April 6, 2019

Dateline 2019-03-07, The Independent:

With Malaysian Prime Minister Dr Tun Mahathir Mohamad pressing for an increase in what he considers to be an unfair water price that Singapore pays for water from Malaysia, another Malaysian official is speaking out about a similar situation—this time with regards to the oil royalty agreement with the government of Sabah.
According to Jamawi, the 1976 Petroleum Agreement between Petronas and the government of Sabah is not aligned anymore with the state’s present needs.
The Assemblyman further said that Dr Mahathir has given voice to the dissatisfaction of Malaysia’s government with the current water agreement with Singapore.

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Malaysia, Brunei express satisfaction over oil and gas collaboration

April 4, 2019

Dateline 2019-03-05, The Star:

Prime Minister Tun Dr Mahathir Mohamad and Brunei’s Sultan Hassanal Bolkiah have expressed satisfaction at the continued collaboration between Petronas and PetroleumBrunei during the Malaysia-Brunei Annual Leaders’ Consultation framework in Putrajaya.
The leaders said they would continue working together to commercialise the Commercial Arrangement Area (CAA) discoveries as soon as possible through the CAA and Production Sharing Agreements (PSA), it said in a joint statement on Tuesday (March 5).

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CLIQ Energy to be delisted on March 4

March 26, 2019

Dateline 2019-02-27, The Sun:

CLIQ Energy Bhd will be delisted from Bursa Malaysia on next Monday, March 4, the company said today.
“The entire issued share capital of CLIQ will be removed from the official list of Bursa Securities with effect from 9am, March 4, 2019 pursuant to Paragraph 16.11(1)(d) of the Main Market Listing Requirements of Bursa Securities,” it told Bursa Malaysia in a filing.
CLIQ, which is the second oil and gas special-purpose acquisition company (SPAC) to list on Bursa Malaysia, announced in February 2016 that it would be liquidated after failing to secure its qualifying acquisition within three years.
Trading in its shares was suspended on Oct 5, 2016.

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Gauging the O&G recovery

March 24, 2019

Dateline 2019-02-25, The Edge:

Two months after hitting fresh record lows, share prices in upstream oil and gas (O&G) companies have recouped some losses after crude oil prices staged yet another climb this year.
However, the backdrop is eerily similar to 2018 — Opec extended production cut, which lifted oil prices and consequently the O&G counters regained some shines, share prices rebounded from multi-year lows.

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Give Sabah all its oil and gas revenue: Lind

March 23, 2019

Dateline 2019-02-25, Daily Express:

Senator Datuk Theodore Douglas Lind (pic) has urged that Sabah be given all its oil and gas revenue, instead of just 20pc, as announced by Prime Minister Tun Dr Mahathir recently.
Speaking during a recent debate on the 11th Malaysia Plan Half-Term Study, Lind hailed Dr Mahathir’s announcement but said it should be 100pc because Acts of Parliament that gave powers to the Federal Government such as the Continental Shelf Act 1966 and Petroleum Mining Act 1966 (revised 1972), which existed during the emergency times, had been automatically nullified when the Agong’s emergency declaration on May 15, 1969 was voided by the Dewan Rakyat on Nov 14, 2011 and Dewan Negara on Dec 20, 2011.

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Oil and gas sector hires more local graduates, trims forex losses

March 21, 2019

Dateline 2019-02-19, NST:

Skilled local workforce has helped major oil and gas (O&G) cushion the global weak oil prices, ringgit fluctuations and foreign exchange (forex losses) over the past few years.

Analysts said companies such as Petroliam Nasional Bhd (Petronas), Sapura Energy Bhd, Alam Maritim Bhd, Barakah Offshore Bhd and others has hired local professionals and technical and vocational education and training (TVET) graduates to reduce costs, which is part of the companies’ cost cutting measures.

Sunway University Business School Professor of Economics Dr Yeah Kim Leng said the O&G sector is a very specialised high technology sector which requires a lot of specialised skills to work at oil rigs and fabrication yards.

“In the early days, these niche areas required foreign expertise and was dominated by expatriates but now firms such as Petronas and Sapura no longer hire foreign professionals but source local engineers from the O&G field.

“This in turn has enabled the country to save a lot in terms of foreign exchange as it is very expensive to pay the foreign engineers.

“Now Malaysia is able to produce its own local oil and gas engineers, technicians and supervisors,” Yeah told NST Business recently.

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IEM Shout Out – 2019-03 Technical Visit to HB Laboratories Sdn Bhd

March 19, 2019

My technical division will be hosting a visit on the 26th March, 2019.

HB LABORATORIES SDN BHD is a growing oil field and water treatment chemical company offering cutting-edge specialty chemical technology, innovative solutions and integrated industrial processes management to its customers in the oil and gas industry in Malaysia. HB Laboratories’ core businesses comprise of local chemical products development, manufacturing, marketing, distribution and provision of technical support and services in relation to chemical applications and performance monitoring to its customers. The company aimed at having chemical formulation and manufacturing as the core business activities beginning with supporting local oil chemical service companies and later supporting traders and service companies in the neighbouring regions, with an ultimate goal of becoming its own regional oil full service company.

Register here, or download the form here.

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