March 18, 2019
I hurt.
Dateline 2019-02-18, Malaysian Reserve:
The 2014 global oil rout continues to impact the oil and gas (O&G) sector in the country.
Perisai Petroleum Teknologi Bhd’s regularisation plan was rejected by Bursa Malaysia and its share was suspended on Jan 22. The company had appealed the decision on Feb 8 and its official delisting from the Main Market is pending the outcome of the appeal.
CLIQ Energy Bhd distributed RM6.12 million from its trust account to shareholders on Jan 31 after the special-purpose acquisition company failed to secure a qualifying asset within the three-year deadline and will soon be delisted.
Scomi Group Bhd is also reeling from the 2014 oil fiasco.
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Posted by Wata
March 17, 2019
Dateline 2019-02-18, Malay Mail:
The government is now in the final phase of identifying eligible recipients of targeted petrol subsidies to be implemented in the second quarter of this year.
Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail said this was the result of a series of discussions held with gas station operators and consumer associations.
In addition, the Ministry of Finance will also at any time announce the selected vendor to develop a targeted RON95 petrol subsidy programme implementation system, he said in his speech at the opening of the BHPetrol Sepang-Lukut fuel station owned by Seng Group of Companies here today.
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Posted by Wata
March 16, 2019
Dateline 2019-02-13, The Borneo Post:
The Sarawak government has been praised for introducing its own sales tax for petroleum products.
Stressing that economic growth is about strategy and bold decision, Associate Professor Dr Fatimah Kari of Universiti Malaya (UM) said Sarawak is actually deprived of the profits of the true value of its resources despite being at the top of the country’s social prosperity indicator by virtue of its position as an oil and gas producer.
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Posted by Wata
March 15, 2019
And congratulations Mohd Yazid Ja’afar .
Dateline 2019-02-08, Sarawak Tribune:
Malaysian oil and gas services and equipment (OGSE) companies must diversify their businesses to remain competitive amidst signs of greater market volatility in 2019, said Malaysia Petroleum Resources Corporation (MPRC).
Deputy chief executive officer Mohd Yazid Ja’afar said while oil prices had risen since the beginning of the year, concerns about a supply glut and weakness in the global economy would keep prices on a tight leash, as evident from the general cautiousness of global oil companies and their continuous push for cost efficiencies.
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Posted by Wata
March 14, 2019
Dateline 2019-02-11, Malay Mail:
The oil and gas (O&G) industry, Malaysia’s second highest export earner after electrical and electronics, will continue to be a focus area for the government this year amid the volatility in oil prices.
International Trade and Industry Deputy Minister Ong Kian Ming said while tackling weakening crude oil prices, Malaysia was also giving attention to downstream products.
“We are giving attention to downstream products and do expect (investment) activities due to the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang.
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Posted by Wata
March 12, 2019
Yea, MPRC is still around.
Dateline 2019-02-08, The Star:
MISC Bhd led Malaysia Petroleum Resources Corp’s (MPRC) latest list of Top 100 Malaysian oil and gas services and equipment (OGSE) companies, ranked in order of annual revenue for financial year 2017.
The list showed MISC edging out Sapura Energy Bhd, which was FY2016’s top ranked company. Dialog Group Bhd meanwhile has maintained its position at third place.
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Posted by Wata
February 14, 2019
Dateline 2019-02-04, FMT:
An economist has urged the government to review its special dividend payment from Petronas, saying it may affect the state oil firm’s capital expenditure programmes.
Yeah Kim Leng, a professor of economics at Sunway University, suggested that the government consider other revenue sources such as the monetisation of assets instead of Petronas reserves which may suffer due to the low oil prices.
“If Petronas is unable to carry out its capital expenditure programmes, it may attract negative ratings from international credit rating agencies,” he added.
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Posted by Wata
February 12, 2019
Dateline 2019-01-31, Borneo Post:
Petroliam Nasional Bhd (Petronas) yesterday denied allegations in a blog post and online site that the it gave preferential treatment to certain companies.
An online site alleged that Petronas gave preferential treatment to an oil and gas upstream services provider.
In a statement, Malaysia’s fully integrated oil and gas company said it had filed reports with relevant authorities in regards to the posting and would leave the matter to the authorities for their further action.
“With reference to malicious allegations contained in a post in an unverified online site, Petronas wishes to state, in the strongest terms, that the allegations are unsubstantiated and untrue.
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Posted by Wata
February 11, 2019
Dateline 2019-01-23, S&P Global:
The start-up of the 300,000 b/d Refinery and Petrochemical Integrated Development, or RAPID, project in Malaysia will boost Asia’s refining capacity growth in 2019, increase Saudi crude inflows to the region and add to the supply of refined petroleum products.
The RAPID facility, operated by Pengerang Refining and Petrochemical or PRefChem, a joint venture between state-run Petronas and Saudi Aramco, is among the largest greenfield oil refineries to start operations in Southeast Asia in recent years, supplementing the existing refining hub in adjacent Singapore.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 