IEM Shout Out – 2019-01 Technical Visit to Pengerang

December 31, 2018

My technical division will be hosting a visit on the 28th January, 2019. Aaand, it’s with MOGEC, y’all all.

IC is PETRONAS’ largest investment in Malaysia, located in Pengerang, Johor and forming part of Johor state’s ambitious Pengerang Integrated Petroleum Complex (PIPC). The PIC project is designed to produce premium differentiated petrochemicals; meeting domestic demand for petroleum products and the Malaysian government’s future legislative requirements on the implementation of Euro 5. With an investment of USD27 billion, PIC supports the Government’s overall Economic Transformation Programme (ETP) and will position Malaysia to capitalize on the growing need for energy and commodity petrochemical products in Asia in the next 20 years.  This will spur the growth of Malaysia’s Oil and Gas downstream sector pushing Malaysia into a new frontier of technology and economic development.

Register here, or download the form here.

Leave a Comment » | engineering, oil and gas | Tagged: , , | Permalink
Posted by Wata

Moody’s changes Petronas’ ratings outlook from stable to negative

December 31, 2018

Now, local banks can lend obscene amounts of money to the golden goose.

Dateline 2018-11-08, FMT:

Moody’s Investors Service has affirmed the A1 domestic issuer and foreign currency senior unsecured ratings of Petronas, but changed the outlook from stable to negative.

The rating agency also affirmed the A1 rating for Petronas Capital Ltd’s senior unsecured notes and the US$15 billion medium-term note (MTN) programme as well as sukuk issued through Petronas Global Sukuk Ltd, but changed its outlook to negative from stable.

Moody’s said the rating action was due to the government’s announcement that Petronas would be paying RM26 billion in dividends in 2018 and RM54 billion (inclusive of a one-off special dividend of RM30 billion) in 2019.

…

Leave a Comment » | oil and gas | Tagged: , | Permalink
Posted by Wata

Push for O&G firms to diversify

December 30, 2018

Dateline 2018-11-09, The Edge:

There may be no chance for Malaysian oil & gas (O&G) firms to rest on their laurels given the anticipated demand preference policy activism towards green energy and renewables, which will eventually result in lower fossil fuel consumption.

“There is a lot of debate about how to fuel the future moving forward,” said Institute for Democracy and Economic Affairs (IDEAS) senior fellow Professor Renato Lima de Oliveira.

“However, renewables have shown impressive gains in competitiveness in recent years, and in some cases, the cheapest sources for electricity generation.

…

Leave a Comment » | oil and gas | Tagged: , | Permalink
Posted by Wata

IDEAS: Gas price normalisation important to drive sector’s growth

December 29, 2018

Dateline 2018-11-08, The Edge:

The process of normalising gas prices between the domestic market and global prices is a critical step towards driving Malaysia’s gas production activities, said IDEAS senior fellow Prof Renato Lima de Oliveira.

The normalisation, which is currently ongoing via the gas cost pass through (GCPT) mechanism, will make domestic sales profitable, thus providing an incentive for oil and gas (O&G) companies to further invest in Malaysia’s gas fields.

“There has been progress towards unifying the selling price of gas for electricity generation for industrial use here, with international prices.

“You need that convergence in order to be profitable to exploit fields here. That is an important mechanism to increase the amount of natural gas [used in the country],” said Oliveira at a forum on Malaysia’s energy policy challenges today.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

5pc tax on petroleum products will affect market, says Azmin

December 28, 2018

Dateline 2018-11-07, The Star:

The Sarawak government’s move to impose a 5 per cent sales tax on petroleum products produced in the state will not only affect Petronas but also the market, said Economic Affairs Minister Datuk Seri Azmin Ali.

He said the matter should be discussed further as any increase in costs due to additional tax would lead to lesser demand as it would be more expensive than products produced in other oil producing countries.

…

 

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Go beyond technical limits, local engineers, technicians urged

December 27, 2018

Dateline 2018-11-08, Borneo Post:

Local engineers and technicians must have the motivation to take on some challenges by going beyond the technical limits of engineering to help solve the problems here.

The Upskilling Sarawak Engineers and Technicians (USET) taskforce chairman Pau Kiew Huai said now with new challenges, engineers and technicians need to think of innovative ways to do things correctly.

He said this during the Institution of Engineers, Malaysia (IEM) conference on plant reliability at Kidurong Club on Tuesday.

He said this is where the taskforce comes in to help in the capability building of engineers and technicians in Sarawak to cope with modern world and the challenge of new technologies.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Diving Komodo 2018-11 1 of 8

December 26, 2018
OLYMPUS DIGITAL CAMERA
OLYMPUS DIGITAL CAMERA
OLYMPUS DIGITAL CAMERA
OLYMPUS DIGITAL CAMERA
OLYMPUS DIGITAL CAMERA
OLYMPUS DIGITAL CAMERA

Leave a Comment » | oil and gas | Permalink
Posted by Wata

Job Opportunity 2018-12 – Process Engineer, 6 Months

December 25, 2018

Someone asked me to look for an offshore operations process engineer, 5-10 years experience, for a 6 months stint in a oil & gas operating company (name withheld). Must have done process in an operations environment. Any names or takers, contact me via comments below.

2 Comments | oil and gas | Tagged: | Permalink
Posted by Wata

Thanks to 1MDB, Petronas now enjoys huge reserves, says Najib

December 25, 2018

There you go.

Dateline 2018-11-06, FMT:

Days after two former ministers blamed 1MDB for Barisan Nasional’s defeat in the May 9 polls, Najib Razak has defended the state investment arm and says it indirectly helped Petronas increase its reserves.

In a Facebook post, the former prime minister said that for 15 years up to 2012, the national petroleum company was forced to subsidise gas that it supplied to independent power producers (IPP).

This led to Petronas incurring losses of over RM10 billion every year.

…

 

Leave a Comment » | oil and gas | Tagged: , , , | Permalink
Posted by Wata

Analysis: Trans-ASEAN gas projects losing relevance amid the fast-paced LNG growth

December 24, 2018

Not a purely Malaysian item, but since some of our longdistance pipelines were meant to be part of the network, it’s interesting.

Dateline 2018-11-07, S&P Global:

An ambitious project to link Southeast Asia with a network of natural gas pipelines is losing relevance to a much faster build-out of LNG import terminals as the region leans increasingly towards seaborne supplies.

The Trans-ASEAN Gas Pipeline was first conceived in the 1980s to boost the region’s energy security using Southeast Asia’s own prolific gas reserves, but was slow to progress like most politically driven large-scale energy projects.

…

Leave a Comment » | oil and gas | Tagged: , | Permalink
Posted by Wata

« Previous Entries
Next Entries »