Dateline 2018-08-01, Today Online:
Malaysia has appointed Ahmad Nizam Salleh as the new chairman of state-owned oil company Petroliam Nasional Bhd (Petronas) effective immediately, the prime minister’s office said on Wednesday.
Ahmad Nizam has spent most of his 37-year career in the oil and gas industry at Petronas, the office said, and replaces Sidek Hassan.
…
Leave a Comment » | 
oil and gas | Tagged: Ahmad Nizam Salleh, Sidek Hassan | 
Permalink
Posted by Wata
And here’s me thinking, isn’t politics the point of the talks?
Dateline 2018-08-01, Borneo Post:
Chief Minister Datuk Patinggi Abang Johari Tun Openg says the issue of oil royalty needs to be discussed professionally between Petronas, representing the federal government, and Petros, which represents the Sarawak government.
He said politics must not be too dominant in the discussion, which was now ongoing between the two parties.
According to him, the discussion started following the Federal Court decision in June to dismiss Petronas’s proceeding to obtain court declaration to have exclusive ownership on oil and gas resources in the state.
…
Leave a Comment » | oil and gas | Tagged: Abang Johari Openg, PETROS, Sarawak | Permalink
Posted by Wata
Dateline 2018-07-31, Borneo Post:
The Pakatan Harapan (PH) federal government has altered its promise of 20 per cent oil and gas royalty to Sarawak, after the Sarawak government chose not to accept the condition set in their ‘New Deal Agreement’ prior to the 14th general election.
PH Sarawak chairman Chong Chieng Jen, who announced this to reporters outside Parliament in Kuala Lumpur yesterday, said while the oil and gas royalty will be retained at five per cent, the state will receive an additional 20 per cent in oil profits.
According to him, the promises of 20 per cent of oil and gas royalty to Sarawak and 50 per cent of tax revenue collected in Sarawak to be returned to the state come with an underlying condition, in that the Sarawak government must use the funds on education and healthcare development.
…
Leave a Comment » | oil and gas | Tagged: Chong Chieng Jen | Permalink
Posted by Wata
Really?
Dateline 2018-07-31, The Star:
Petroliam Nasional Bhd has launched a new vendor development scheme to nurture local entrepreneurs to overcome high-entry barriers to the oil and gas industry and create a pool of vendors who can generate value.
The national oil company said on Tuesday the scheme, called VDPx, would be under the company’s existing vendor development programme (VDP). It will carried out together with major industry players in the country.
Petronas said this was was part of its initiative to boost the capabilities of local companies in Malaysia’s oil and gas (O&G) industry.
Under the VDPx, the six petroleum arrangement contractors (PACs) and 12 O&G service and equipment (OGSE) companies, will replicate Petronas’ VDP programme, to reach out to more local vendors and further amplify its benefits to the industry as well as the nation.
…
Leave a Comment » | oil and gas | Tagged: Petronas, VDP, VDPx | Permalink
Posted by Wata
Can I have these T&C with my contracts? Pay first, finish work when MACC comes a-knockin.
Dateline 2018-07-28, Malay Mail:
No further decision has been made regarding the operation of the Trans-Sabah Gas Pipeline (TSGP) project after the suspension notice was issued on July 3, said Energy, Technology, Science, Climate Change and Environment Minister Yeo Bee Yin.
The ministry was still discussing what happened to RM3.5 billion paid for the TSGP project when the actual work had not been completed, she said.
…
Leave a Comment » | oil and gas | Tagged: TSGP, Yeo Bee Yin | Permalink
Posted by Wata
To keep interest in engineering alive for the next generation (and for some great social media videos), please send your school brood to the KLESF, and participate in the IEM event.
Leave a Comment » | oil and gas | Tagged: KLESF, Mines | Permalink
Posted by Wata
Dateline 2018-07-27, Daily Express:
Deputy Chief Minister Datuk Seri Wilfred Madius Tangau expressed unhappiness with the Federal Government for deciding and announcing about oil royalty without first consulting oil producing states, including Sabah.
He stressed that the need for mutual agreement was clearly stated in the Petroleum Development Act 1974.
He was commenting on reports quoting Economic Affairs Minister Datuk Seri Mohamed Azmin Ali as saying that the Federal Government could not immediately implement its promise to pay 20 per cent royalty to oil-producing states as the PDA carries out calculation based on gross profit and not net profit.
He said the Federal Government will only implement its promise after amendments are made to the PDA 1974.
However, Madius suggested there is need to further discuss with Sabah on the matter.
…
Leave a Comment » | oil and gas | Tagged: Mohamed Azmin Ali, PDA, Wilfred Madius Tangau | Permalink
Posted by Wata
Leave a Comment » | diving, oil and gas | Tagged: tenggol | Permalink
Posted by Wata
Dateline 2018-07-25, FMT:
The federal government will only implement its promise to pay 20% royalty to oil-producing states after amendments are made to the Petroleum Development Act 1974, said Economic Affairs Minister Mohamed Azmin Ali.
“It cannot be carried out immediately as the act carries out calculation based on gross profit and not net profit.
“Due to that, if the government wants to increase the oil royalty to 20%, it will take time as an amendment is needed,” Azmin (PH-Gombak) told Dewan Rakyat today.
…
Leave a Comment » | oil and gas | Tagged: Mohamed Azmin Ali, PDA | Permalink
Posted by Wata
Dateline 2018-07-25, Borneo Post:
Chief Minister Datuk Patinggi Abang Johari Tun Openg has revealed that Petronas met him after it failed to get the application for leave from the Federal Court.
He, however, declined to reveal what was discussed during the meeting.
“Yes, they did come to see me recently, after the Federal Court’s decision, but I cannot reveal what was discussed during the meeting.
“Of course, we discussed some of the win-win-proposals together. We are not that greedy.
“Okay that is our right. Petronas wants to take and sell the oil, which is our right, so they have to negotiate with us,” he told a press conference after launching the Land and Survey Department’s Innovation and Integrity Day here yesterday.
…
Leave a Comment » | oil and gas | Tagged: Abang Johari Openg, Petronas | Permalink
Posted by Wata
You are currently browsing the archives for the oil and gas category.
Paypal donations accepted.
Wata - Malaysian Oil and Gas Engineer 