Aramco plans to ship first crude oil to Malaysia JV refinery in Oct

November 19, 2018

Did they ship?

Dateline 2018-09-04, Nasdaq:

Saudi Aramco plans to deliver the first crude oil cargo to its joint-refinery project with Petronas in Malaysia in October as the companies prepare for trial runs at the new plant, several sources with knowledge of the matter said on Tuesday.

The project, Refinery and Petrochemical Integrated Development (RAPID), is a $27 billion complex located between the Malacca Strait and the South China Sea, conduits for Middle East oil and gas bound for China, Japan and South Korea.

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Hard work pays off for Petronas education sponsorship recipient

November 18, 2018

Dateline 2018-09-03, Borneo Post:

Nur Maisarah Kusdi, 18, a former SMK Tamparuli student, has always wanted to be an engineer — chemical engineer to be exact and has worked hard to achieve her dream.

“I love Chemistry and Physics. When I was offered the Petronas Education Sponsorship Programme (PESP) to pursue Chemical Engineering at Universiti Teknologi PETRONAS (UTP), I accepted it whole-heartedly although at that time I also had an offer from another institution,” she said.

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Uzma names Abdullah Karim as chairman

November 17, 2018

Dateline 2018-09-03, The Edge:

Uzma Bhd has appointed its independent non-executive director Datuk Abdullah Karim as the group’s new independent chairman.

He replaces Datuk Seri Syed Ali Syed Abbas Alhabshee, who resigned after serving as independent chairman for over 10 years to pursue his personal interest.

Uzma said Abdullah is currently the chairman of the group’s nominating committee and member of the audit committee.

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Petronas to provide input to attract O&G investments

November 16, 2018

Dateline 2018-09-03, The Malaysian Reserve:

Petroliam Nasional Bhd (Petronas) has given its commitment to provide the necessary input to all oil and gas (O&G) stakeholders, particularly on the expected higher oil royalty arrangement, to ensure that Malaysia remains an attractive destination for O&G investments.

Its president and group CEO Tan Sri Wan Zulkiflee Wan Ariffin (picture) said while Petronas is not privy to the discussions taking place between the federal and state governments on related issues, it will continue to provide its views on all possible scenarios.

“What’s important is to remember that we need to keep the O&G industry in Malaysia resilient and Malaysia as an attractive investment destination for foreign O&G companies,” Wan Zulkiflee told members of the press at Petronas’ Kuala Lumpur headquarters last Thursday. “We do not want the production sharing contractors (PSCs) to be impacted because we want Malaysia to still be an attractive investment destination.”

Petronas, as the national energy company, is responsible for the exploration, extraction, refining and marketing of Malaysia’s petroleum resources, which it undertakes via production sharing schemes. This involves the participation of other oil firms in the country’s O&G space, such as Royal Dutch Shell plc, Exxon Mobil Corp and Murphy Oil Corp.

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Will oil royalty finish off Malaysia’s PETRONAS?

November 15, 2018

Dateline 2018-08-31, The Asean Post:

Every time Malaysia’s national oil and gas company PETRONAS declares a profit, the nation’s four oil-producing states will clamour for a bigger slice of the pie than the current five percent royalty they are receiving.

The subject rose again following the unexpected victory of the Alliance of Hope (Pakatan Harapan) in the country’s May 2018 general election, ending the 61-year continuous rule of the National Front (Barisan Nasional). As part of its election manifesto, the Alliance of Hope coalition promised to increase the oil royalty to 20 percent and to review Malaysia’s Petroleum Development Act of 1974 (PDA) if it came into power.

Prime Minister Dr Mahathir Mohamad announced that the new government of Malaysia will pay the oil-producing states 20 percent but it will be calculated based on profits derived from those states, and not revenue.

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Sarawak’s oil, Sarawak’s soil, so let us decide, says Nancy

November 13, 2018

Cool slogan. Can I steal it?

Date 2018-08-29, FMT:

Sarawakians should be the ones dictating how much oil royalty it will get as the oil is in their soil, said Sarawak MP Nancy Shukri.

Nancy, who is Batang Sadong MP, said a lot of Sarawakians were of the view that the state had been enriching West Malaysians and as a result the state had become backward and has not been getting much.

“Sarawakians have been talking. They say, ‘we see the Petronas Twin Towers, but look at us. Where are we?’

“That is why Sarawakians are now very aggressive and protective about their reserves. We explain why the Malaysia Agreement 1963 is still important because Sabah and Sarawak are still very backward in terms of development.

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Future of SMDS depends on three areas

November 12, 2018

Dateline 2018-08-29, Borneo Post:

The future of Shell Middle Distillate Synthesis (SMDS) depends on three areas, says Shell Malaysia chairman Datuk Iain Lo.

One, to remain competitive SMDS must continued its technology development programme.

“We have an active programme in our research labs in Amsterdam and here in Bintulu SMDS to ensure that SMDS can compete with a new generation of coal to liquids plant from China,” he said during the SMDS 25th anniversary gala dinner here on Monday.

Secondly, in terms of product development, SMDS must find more innovative and high value uses for its unique products.

“We rely on our own research and development in the US, our distributors and customers and also learning institutions,” Lo added. “A good example is our collaboration with UNIMAS, which has helped us develop an application in 3D printing for Sarawax.”

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Dr M: ECRL and Sabah gas pipeline projects cancelled

November 10, 2018

Dateline 2018-08-21, NST:

Tun Dr Mahathir Mohamad said the multi-billion East Coast Rail Link (ECRL) and Trans-Sabah Gas Pipeline (TSGP) projects are cancelled for now.

The prime minister said Chinese President Xi Jinping and premier Li Keqiang understood the reasons behind the cancellation of the two Chinese government-backed projects.

“I have explained to them and they understood the situation and accepted them,” Dr Mahathir told journalists at the end of his five-day official visit to China.

“Initially, there were some misunderstandings but now they understood why we do it. I don’t think China wants us to be bankrupt,” said Dr Mahathir.

Dr Mahathir said the projects involved huge amounts of money and Malaysia does not really need them at the moment, amid the country’s financial situation with high debt left by the previous government.

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Hess Corp’s S-E Asia assets attract bid interest

November 9, 2018

Dateline 2018-08-21, The Star:

The South-East Asian offshore natural gas assets of US oil and gas producer Hess Corp, estimated to be worth as much as US$5bil, have attracted takeover interest from firms including Thailand’s PTTEP PCL and Austrian energy group OMV AG, people familiar with the matter said.

Hess, which has a collection of gas fields in North Malay Basin in offshore Malaysia and in the Malaysia-Thailand Joint Development Area (JDA) with 50% equal partner Petronas, has not yet decided whether to sell the assets, according to financial and industry sources.

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Sabah expects RM5 bil in petroleum royalty

November 8, 2018

Dateline 2018-08-14, FMT:

The Sabah government expects no less than RM5 billion annually if petroleum royalty is increased from 5% to 20%.

However, Chief Minister Mohd Shafie Apdal said Petronas had informed the state government that cash payments from oil and gas revenues would depend on various factors.

“Among the factors which determine the amount of royalty include the mechanism and basis for the increments in cash payments which need to be discussed and decided by the relevant parties, estimates of oil and gas output, advanced plans for the development of oil and gas fields and global crude oil prices,” he said.

Shafie, who is also the state finance minister, said this in reply to a question from Dr Joachim Gunsalam (PBS-Kundasang) at the Sabah state assembly here today.

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