O&G firms see RM398m export potential

December 3, 2018

INSP is International Sourcing Program.

Dateline 2018-10-09, Malaysian Reserve:

MALAYSIAN companies have recorded a total RM397.9 million of export potential via the International Sourcing Programme (INSP) at the 4th Malaysian Oil and Gas Services Exhibition and Conference (MOGSEC) 2018 that was held between Sept 25 and Sept 26, 2018.

The exhibition saw the participation of 34 Malaysian oil and gas (O&G) companies that were eyeing export markets including the United Arab Emirates, Pakistan, Turkey, Myanmar and Vietnam.

Malaysia External Trade Development Corp (Matrade) CEO Dr Mohd Shahreen Zainooreen Madros (picture) said in a statement the export potential was configured through 86 meetings organised under the INSP.

“The INSP helps a great deal for local companies as they get to meet with the foreign buyers in their home country, giving them a competitive advantage in terms of cost,” he said.

He added that foreign buyers at the INSP this year were sourcing various Malaysian O&G services including equipment and parts, rig cooling services, well-testing support equipment services, vessel monitoring systems, remote monitoring, manpower supply and services, transportation and logistics, services gas, as well as saturation logging and simulation studies.

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MGA advocates expanded role for natural gas

December 2, 2018

Dateline 2018-10-09, Borneo Post:

In support of the government’s efforts to achieve Malaysia’s COP21 targets, the Malaysian Gas Association (MGA) is advocating for the expanded use of natural gas, a clean, efficient and cost-effective fuel, to reduce the country’s carbon emissions and drive social, environmental and economic progress.

Malaysia’s natural gas industry reported a cumulative contribution to the nation’s gross domestic product (GDP) amounting to 4.2 per cent, comprising of domestic sales of natural gas at US$2.45 billion and exports in the form of liquified natural gas (LNG) valued at US$10.56 billion in 2015.

Commenting on the industry, MGA president Hazli Sham Kassim said that given that natural gas is the cleanest burning fossil fuel, the association believes natural gas can play a prominent role in ensuring the country achieves its COP21 promise by supporting the expansion of renewable energy while simultaneously driving Malaysia’s economic progress.

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Higher oil price a boon to upstream activities in Malaysia

December 1, 2018

Is the boon enough to keep me in the business?

Dateline 2018-10-01, Market Pulse:

Rising oil prices will be a boon to the local oil and gas (O&G) sector as production is expected to rise and producers seek to pump more crude from the available and new wells.

Analysts also expect oil companies to free up more of their budget for upstream activities after four years of doldrums and expenditure slashing.

Oanda Corp head of trading for Asia Pacific Stephen Innes said despite the Brent crude price optimism of reaching the US$100 (RM414) per barrel level will be a “short-term phenomenon”, it will facilitate more upstream activity globally.

“Higher oil prices will attract more capital to offshore rigs, which are expensive but profitable near current levels, result in pipeline infrastructure improvement from the US Permian basin, and allow Russia and OPEC to ramp up production.

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Gas players want more clarity on policies

November 30, 2018

Dateline 2018-10-03, The Edge:

A clearer policy by the new Pakatan Harapan government on the country’s energy mix and market pricing for the gas industry is needed, said players in the gas supply chain.

Malaysian Gas Association (MGA) president Hazli Sham Kassim said while there are existing policies in place, more clarity is needed to encourage more investments into the industry.

“We hope to see a clearer policy stance on the energy mix, which will make it easier for our members to plan their investments. For example, there are still international companies reluctant to invest in the gas industry in the peninsula because they are not sure of the market conditions,” Hazli told a media briefing yesterday.

He said this is especially the case as usage of coal increases, potentially reducing gas usage.

“As far as the gas industry in Malaysia is concerned, it is under pressure because of coal production which is expected to increase, [and] of which gas usage is also expected to decline.”

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Malaysia delays implementation of Euro 4M specs for 95 RON gasoline to Jan 2020

November 29, 2018

This is of interest to me as MOGEC is a member of SIRIM ISC H.

Dateline 2018-10-03, Platts:

Malaysia has postponed the implementation of its Euro 4M gasoline specifications for the 95 RON grade to January 1, 2020 from the initial October 1, 2018, according to a government circular to oil companies seen by S&P Global Platts on Tuesday.

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Petronas should conserve finances

November 26, 2018

And what happens to us bottom feeders?

Dateline 2018-10-04, Sun Daily:

IS the decision by Petroliam Nasional Bhd (Petronas), to pay a sharply higher dividend this year to the Federal Government financially prudent and sustainable in the medium term?

Buoyed by a stunning 71.5% jump in net profit to nearly RM23 billion for the first half of this year, the national oil company announced it will pay RM24 billion in dividends to the Federal Government this year – a 50% hike from the RM16 billion level last year.

Higher dividends are financially feasible this year because oil prices have increased markedly and are likely to remain elevated in the short term.

This is due to the combined impact of US sanctions against Iran – resulting in possibly 1.5 million barrels per day (bpd) withdrawn from the market effective Nov 4 this year – hiccups in Venezuela’s oil production and major producer Saudi Arabia’s inability or refusal to raise output immediately to meet this shortfall in supply.

On Monday, Brent crude oil futures closed at US$84.98 (RM351.81)/barrel. Post settlement, prices strengthened to US$85.45 – the first time that prices exceeded the US$85 level since November 2014.

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Oil rally sparking huge interest in Malaysia Oil and Gas

November 24, 2018

Dateline 2018-09-26, Marketpulse:

The rise in the price of crude oil to a four-year high of US$80 (RM331.20) a barrel has lifted over 20 oil and gas (O&G)-related stocks on Bursa Malaysia.

Bloomberg data shows five stocks have risen over 12% since Monday to the close of market yesterday as crude oil prices extended gains on prospects of tighter global supply availability, while 15 others rose between 1% and 10%.

The stock that has increased the most over the span of three trading days was Deleum Bhd which closed at RM1.14 yesterday, 16.92% higher than its close last Friday of 98 sen a share.

The company had recently secured three new contracts from Petronas Carigali Sdn Bhd, Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd for provision of integrated corrosion solution and oilfield services.

Deleum has a market value of RM461.29 million and its stock had returned 27% year-to-date, trading at 14 times its estimated earnings per share for the coming year.

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Malaysia’s RAPID project receives first crude oil cargo

November 23, 2018

Dateline 2018-09-26, O&GJ:

The jointly held Saudi Aramco–Petronas $27-28-billion Pengerang Integrated Complex (PIC) in southeastern Johor, Malaysia, has received its first delivery of crude oil at Pengerang Deepwater Terminal 2, marking the transition into the commissioning phase for startup of the 300,000-b/d refinery and petrochemical integrated development (RAPID) project (OGJ Online, Mar. 29, 2018).

Pengerang Refining & Petrochemical (PRefChem)—an alliance of Petronas and Aramco that includes the two joint ventures Pengerang Refining Co. Sdn. Bhd. and Pengerang Petrochemical Co. Sdn. Bhd.—received a cargo of 2 million bbl of crude supplied by Petronas and Aramco on Sept. 24 that will be used for commissioning and testing activities at the refinery, which are scheduled to begin in October, Aramco said.

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Volatile landscape amid rising oil prices: Petronas

November 22, 2018

Dateline 2018-09-25, NST:

Local oil, gas and energy players are urged to tread carefully and respond cautiously towards the uptrend seen in the crude oil prices, as volatility are expected to continue due to trade wars and geopolitical risks.

Petroliam Nasional Bhd (Petronas) president and chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said despite improving outlook, which saw a spike in Brent oil prices hitting the 4-year high at US$80 a barrel this morning, it is important to be mindful of the unpredictable industry landscape.

“Currently, the outlook for the oil and gas industry is also improving. Year-to-date Brent is at US$72 per barrel, a significant sharp increase from the average of US$54 per barrel in 2017 and the oil and gas sector here seems to be responding positively.
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Sabah to emulate Sarawak in controlling oil and gas laws

November 20, 2018

Dateline 2018-09-10, FMT:

Sabah will look into bolstering laws involving exploration of oil and gas and mining activities in the state, following in the footsteps of its neighbour Sarawak which tightened controls over such matters in July.

Chief Minister Shafie Apdal said he would request the state attorney-general (AG) to look into the matter.

“We are looking into it but I was made to understand by the former AG that we do have that mineral enactment in Sabah. I will ask the (current) AG to look into the details, whether there’s any loopholes in that.

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