Petronas explores renewable energy market

August 25, 2019

When will PETRONAS divest its hydrocarbon assets?

Dateline 2019-07-10, FMT:

Petroliam Nasional Bhd (Petronas) has taken steps to explore new growth areas beyond the conventional oil and gas sectors, says president and group CEO Wan Zulkiflee Wan Ariffin.

Wan Zulkiflee said against the backdrop of demand for more sustainable energy sources, Petronas is considering viable investments in renewable energy, namely in solar, wind and biomass projects on a commercial scale.

“To cater to the growing energy demand, the company has embarked on numerous energy investments anchored to its three-pronged strategy to develop an energy mix that effectively balances the energy trilemma of security, affordability and sustainability of energy supply,” he said at the World Economic Forum’s roundtable discussion on Malaysia’s energy landscape today.


Murphy Oil Corporation Announces Close of Malaysia Portfolio, Executes $300 Million Share Repurchase Program

August 24, 2019

Dateline 2019-07-10, Business Wire:

Murphy Oil Corporation (MUR) (“Murphy”) announced its subsidiary closed the sale to divest the fully issued share capital of the entities primarily conducting Murphy’s operations in Malaysia to a subsidiary of PTT Exploration and Production Public Company Limited (“PTTEP”). The transaction was previously announced on March 21, 2019, with an effective economic valuation date of January 1, 2019. After closing adjustments, Murphy will receive proceeds of approximately US$2.035 billion, and expects to report a gain on the sale of approximately $1.0 billion. Murphy does not anticipate tax liabilities related to the transaction.

“We would like to congratulate PTTEP on the purchase of their new asset. As our talented and committed Malaysia team transitions to their new owner, I am confident they will diligently work to ensure continued success in the country. Also, I would like to thank our long-term partners PETRONAS, PETRONAS Carigali and Pertamina. They too have diligently worked to ensure our long-term success in the region,” stated Roger W. Jenkins, President and Chief Executive Officer.


Growing Champions: Building a culture of resilience in oil and gas

August 23, 2019

I would like the ‘IOT and digitalization for dummies in O&G – but not by vendors, by 2nd tier engineering houses’ talk

Dateline 2019-07-07, The Edge:

It has been an unquestionably turbulent decade for oil and gas (O&G), with startling price swings, changing government policy and shifting political landscapes in major producing nations. So how do operators react to an environment where volatility may be the only constant?

In Boston Consulting Group’s (BCG) recent report entitled “Going digital is hard for oil and gas companies — but the payoff is worth it”, we review the role of digitalisation. With the right tools and the right company culture, digital opportunity may unlock a more resilient future for O&G.

 


Chief minister: Only state govt can issue licences to oil and gas companies operating in Sarawak

August 19, 2019

Dateline 2019-07-05, Malay Mail:

 Chief Minister Datuk Patinggi Abang Johari Openg clarified today said that only the Sarawak state government can issue licences to oil and gas companies operating in its territorial waters.

“We have never given up the licensing right to Petronas. It is in the Malaysian Constitution. It is our right. How can we give up our right? It is just speculation,” he told reporters after handing over Petronas sponsorships for Sarawak students here today.

The chief minister was asked if it is true that the state government has given up its authority to issue licences to oil and gas companies to Petronas.


Petronas to remain as licensing authority in Sarawak’s O&G industry (and rebuttal)

August 17, 2019

For the sake of argument, I am going to publish the rebuttal first:

THE Malaysian Oil and Gas Services Council (MOGSC) wishes to rebutt over a statement printed in The Malaysian Reserve on July 3, 2019, with reference to the oil and gas (O&G) licensing authority in Sarawak. Under no circumstances were we given guidance as mentioned, nor did we mention we received such guidance from Petroliam Nasional Bhd. However, in our many engagements with all the relevant stakeholders, MOGSC is made to understand that at this point in time, no additional licenses are required by service contractors to provide services or products in the O&G industry in Sarawak until further notice. MOGSC has responsibly conveyed this to our members, and we currently look to both stakeholders for further instructions. As the largest umbrella association in the Malaysian O&G industry, representing close to 500 O&G service providers, MOGSC is constantly engaging with relevant stakeholders to seek clarity for the bene t of our members. MOGSC members who provide O&G services spreading over the entire supply chain, look forward to having better clarity on this matter as we continue to provide support in developing our O&G industry in Malaysia.

Dateline 2019-07-03, The Malaysian Reserve:

OIL and gas (O&G) players will be allowed to operate as Petroliam Nasional Bhd (Petronas)-licensed companies in Sarawak as long as they comply with the state’s new requirements.

Malaysian O&G Services Council (MOGSC) president Sharifah Zaida Nurlisha Syed Ibrahim said this was the guidance provided by Petronas, in relation to Sarawak assuming regulatory control over its O&G resources via state-owned vehicle Petroleum Sarawak Bhd (Petros).

“Petronas is talking with Petros to leverage on the current arrangement, whereby O&G companies will be allowed to operate in Sarawak with Petronas licensing as long as they comply with tweaking with regard to localisation.

“Ultimately, the status quo will remain, but with tweaks from Petros to allow for localisation (of certain services and activities),” she told The Malaysian Reserve (TMR).


Azmin: Malaysia supports deal to reduce oil production until March 31, 2020

August 16, 2019

Dateline 2019-07-03, Malay Mail:

Malaysia supports the proposal for the Declaration of Cooperation (DoC) to be extended by nine months to March 31, 2020, at the current agreed production levels to ensure the smooth continuation of the current cooperation.

Minister of Economic Affairs, Datuk Seri Azmin Ali said, despite being a non-member of Organisation of the Petroleum Exporting Countries (Opec) and a small oil-producing country, Malaysia would stand together in solidarity with the oil-producing countries, in continuing the global market stability agenda, which would benefit producing and consuming countries alike.


Children of fishermen, night market traders get Petronas edu sponsorship

August 15, 2019

Dateline 2019-07-01, Daily Express:

” I dream of a stable career to help my family finances so that my father does not have to be a night market trader after this,” said 18-year-old Wan Muhammad Nur Hisyam Wan Zakaria.

Wan Muhammad Nur Hisyam, who will continue his studies in Australia, is grateful that by being selected with 39 other students from Terengganu for this year’s Petronas Education Sponsorship Programme (PESP) has kept his dream alive.

The former Batu Rakit Integrated Boarding School student, who scored 11 A’s in the 2018 Sijil Pelajaran Malaysia (SPM) examination, has received a scholarship worth about RM700,000 from Petronas for five years to further his studies in chemical engineering.

“I am very grateful for this opportunity because I can continue my studies without burdening my parents financially as it will be financed by Petronas. I am determined to make full use of this opportunity in order to have a brighter future,” he said. 



Govt confident of rolling out targeted petrol subsidy this year, says minister

August 14, 2019

Dateline 2019-06-28, Malay Mail:

The government is optimistic that the targeted petrol subsidy for the low-income or B40 group can be implemented this year.

Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail said his ministry and the Finance Ministry have prepared a joint memo on the review of the implementation of the system to be tabled at the Cabinet meeting in the near future.

“We feel that we have found a reasonable implementation method. Even if it is not perfect, the process of finding perfection in terms of implementation will be achieved as we go along,” he told reporters after attending his ministry’s Penang branch Aidilfitri Open House House here today.


Research fellow Dr Suhaila Sepeai has her day in the sun

August 13, 2019

Dateline 2019-06-29, The Star:

Research fellow Dr Suhaila Sepeai’s striving hard to push for solar power as an alternative source for electrical supply.

Instead of pouring over novels and comic books like most children, Dr Suhaila Sepeai and her three siblings grew up reading newspapers and Science magazines. It was her father, health inspector Sepeai Sapuan’s way of nurturing and guiding his children’s curiosity towards Science.

“I grew up during Tun Dr Mahathir’s first tenure as Prime Minister and the focus at the time was Vision 2020 and turning Malaysia into a scientific society. So, instead of novels, my father would have us sift through newspapers and magazines like Dewan Masyarakat, Dewan Siswa and Dewan Kosmik. These helped build my interest in STEM subjects,” says Dr Suhaila, a research fellow at Universiti Kebangsaan Malaysia’s Solar Energy Research Institute (SERI).



Innovation And Collaboration Are The Keys To Malaysia’s Energy Transition

August 11, 2019

Dateline 2019-06-27, Forbes:

Asia continues to be the fastest growing region in the world today. With its stable economic outlook, Malaysia remains at the center of the region’s development. However, rapid changes in the marketplace, stringent regulatory requirements, including environmental laws as well as geopolitical tensions, pose many challenges for businesses.

Despite these uncertainties and challenges, energy demand continues to shift towards Asia. Analysts project that primary energy demand in the region is expected to grow at 2.5 percent per annum and reach 7.1 billion tons of oil equivalent (btoe) in 2035, accounting for 42% of the world’s primary energy demand.