Petronas expects balance in oversupplied LNG market in 2023

September 17, 2017

Dateline 2017-08-15, Reuters:

Malaysian state energy company Petroliam Nasional Berhad [PETR.UL] expects the global liquefied natural gas (LNG) market to remain oversupplied until as late as 2023, its chief executive said on Tuesday.

Rising LNG production over the last two years, mainly from Australia and the United States, has exceeded demand and depressed prices. Asian spot LNG prices LNG-AS are now down by around 70 percent from early 2014.

Petronas, as the company is better known, only last month scrapped a proposed $29 billion LNG terminal project in western Canada, saying market conditions made the project “economically unviable”.

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UPDATE: Malaysia Petronas Gas 2Q Net Profit Up 5.3% As Margin Improves

September 16, 2017

Dateline 2017-08-15, Nikkei Asian Review:

Petronas Gas, the gas processing arm of Malaysia’s national oil and gas firm Petronas, said Tuesday its second quarter net profit grew 5.3% on year on higher gross profit and improved margin across all segments.

Net profit for the three months ended Jun. 30 stood at 425.33 million ringgit ($98.99 million) compared to 403.75 million ringgit a year ago, the company said in an exchange filing. Quarterly revenue rose 4.9% to 1.17 billion ringgit from 1.12 billion ringgit a year earlier.

Petronas Gas said it expects performance to remain stable amidst the challenging economic environment on the back of its strong and sustainable income streams from existing Gas Processing Agreement, Gas Transportation Agreements and Regasification Service Agreement signed with Petroliam Nasional.

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Saturday Star 2017-09-09 – Job Opportunities

September 11, 2017

Happy stay in office week. IGL has pivoted into training, so book your seats now.

We’re thinking of republishing Young Turks of PETRONAS, but it’s a minimum 500 book printing run. Do I have enough interested persons to purchase?

Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I have a feeling that The Star isn’t the preferred O&G job recruitment portal now, and they have moved adverts to another online presence (I bought a dead tree edition this week). I see more adverts via social media. What do you think, is it a step change that the papers need to embrace?
  • I’m looking for jobs for 4Q2017. Send me your POs.

Food choice of the week? Support your local mee bandung.

Book choice of this week, Chemical Engineering Process Simulation, authors are Nishanth Chemmangattuvalappil Denny Ng Kok Sum Rafil Elyas Cheng-Liang ChenI,Lung Chien Hao-Yeh Lee. I intend to get a signed first edition, and place it in my Charles Dickens first edition cabinet.

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Why Malaysia’s Readying for a Lower-Energy Future: QuickTake Q&A

September 9, 2017

Dateline 2017-08-09, Bloomberg:

Malaysia is the world’s third-largest exporter of liquefied natural gas and the only net exporter of energy among Asia’s major economies. So it stands to reason that energy prices and output levels hold great sway over the economy, and Malaysia’s currency. Unfortunately for the Southeast Asian nation, oil prices have tumbled and domestic production is close to peaking. That’s hurt the ringgit, which remains stubbornly correlated to oil prices even as Malaysia’s oil-related revenues fall, and pushed the authorities to seek ways to compensate.

1. How big a hit has Malaysia taken?

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IEM Shout Out – 2017-10 Two-Day Course on Presentation Skills for Engineers & Technical Personnels

September 5, 2017

My technical division will be hosting a 2 day course on the 4th and 5th October 2017. It is worth 12 CPD points, and held at Wisma IEM. The course will be presented by Ir.Danaraj Chandrasegaran.

Learning Outcomes

At the end of the course participants will:
• Acquire better core presentation fundamentals.
• Will understand all the possible use cases for adopting Prezi in their own work processes.
• Will be able to create a basic Prezi presentation.
• Understand the purpose and value of powerful presentations
• Analyses audience needs and create presentations accordingly
• Set objectives and plan an appropriate structure
• Use your improved platform skills to answer audience questions with confidence
• Create an action plan to fine tune your presentation skills following feedback from the facilitator

Danaraj Chandrasegaran P.Eng MIEM CEng MIMechE. He is a Chartered Engineer and has honours degree in Mechanical Engineering from University of Technology Malaysia. He also holds a MEng degree in Mechanical Engineering from University of Malaya. He also presently a committee member with The Institution of Engineers Malaysia and Institution of Mechanical Engineers (UK) Malaysia Chapter. Since starting his career as a Mechanical Engineer, Danaraj has had a varied service; both in front line project execution as well as in technical, training, and management functions. His career has a diverse outlook on project execution ranging from building construction, marine, mining and energy industry; as a mechanical engineer. He has worked on several large-scale projects worldwide such as Shell Malikai TLP and Barzan Offshore Project. In addition, had edited and completed many large writing projects such technical reports, operating manuals and technical papers in the oil and gas industry.

Register here, or download the form here.

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Saturday Star 2017-09-02 – Job Opportunities

September 4, 2017

Happy unplanned holiday week. IGL has pivoted into training, so book your seats now.

We’re thinking of republishing Young Turks of PETRONAS, but it’s a minimum 500 book printing run. Do I have enough interested persons to purchase?

Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I have a feeling that The Star isn’t the preferred O&G job recruitment portal now, and they have moved adverts to another online presence (I bought a dead tree edition this week). I see more adverts via social media. What do you think, is it a step change that the papers need to embrace?
  • I’m looking for jobs for 4Q2017. Send me your POs.

Food choice of the week? Any halal meal in HK. During a typhoon.

Book choice of this week, Chemical Engineering Process Simulation, authors are Nishanth Chemmangattuvalappil Denny Ng Kok Sum Rafil Elyas Cheng-Liang ChenI,Lung Chien Hao-Yeh Lee. I intend to get a signed first edition, and place it in my Charles Dickens first edition cabinet.

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One of Malaysia’s largest gas pipelines and Punj Lloyd’s largest EPCC Pipeline Project – Sabah Sarawak Gas Pipeline of Petronas sees financial closure

August 31, 2017

Dateline 2017-08-04, Equitybulls:

Undulating mountains, dense rainforests and unrelenting weather, nothing deterred Punj Lloyd from completing one of the largest pipelines of Malaysia. Worth US$822 million, the prestigious contract for the construction of the 512 km, 36 inch dia pipeline was awarded to Punj Lloyd by Petronas for transporting gas from the Sabah Oil and Gas Terminal to the Petronas LNG Complex at Bintulu, Sarawak. July 2017 saw the challenging project achieve financial closure.

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Petronas Sets Aside RM10b For Enhanced Oil Recovery Projects In Sarawak

August 29, 2017

Dateline 2017-08-03, MalaysianDigest:

Petroliam Nasional Bhd’s upstream subsidiary, Petronas Carigali Sdn Bhd (PCSB), has set aside RM10 billion for its enhanced oil recovery (EOR) projects located offshore Sarawak.

Expected to be completed by the year 2020, the EOR in the Bakor and Baronia fields, would be jointly carried out with Sarawak Shell Bhd.

PCSB Sarawak Oil-Malaysia Assets head, Anuar Ismail, said the company is upbeat that the investment will yield return despite uncertainties in the global oil prices.

“It is business as usual for Petronas although we are adopting prudent spending. We are trying to reduce our operating cost as much as possible to maximise our income,” he told reporters when met the PCSB headquarters here today.

Anuar also gave his assurance that retrenchment is not in the cards although Petronas is trying to control its operating cost from increasing.

He said there are a total of 1,200 employees stationed at oil rigs in the state.

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Saturday Star 2017-08-26 – Job Opportunities

August 28, 2017

Happy typhoon week. IGL has pivoted into training, so book your seats now.

We’re thinking of republishing Young Turks of PETRONAS, but it’s a minimum 500 book printing run. Do I have enough interested persons to purchase?

Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I have a feeling that The Star isn’t the preferred O&G job recruitment portal now, and they have moved adverts to another online presence (I bought a dead tree edition this week). I see more adverts via social media. What do you think, is it a step change that the papers need to embrace?
  • I’m looking for jobs for 4Q2017. Send me your POs.

Food choice of the week? Any halal meal in HK. During a typhoon.

Book choice of this week, Chemical Engineering Process Simulation, authors are Nishanth Chemmangattuvalappil Denny Ng Kok Sum Rafil Elyas Cheng-Liang ChenI,Lung Chien Hao-Yeh Lee. I intend to get a signed first edition, and place it in my Charles Dickens first edition cabinet.

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

North Malay Basin platforms deliver first gas

August 27, 2017

Dateline 2017-07-27, Offshore Mag:

Gas production has started from the Hess-operated North Malay Basin full-field development in the Gulf of Thailand, following hookup of the topsides for the central processing platform.

Commissioning activities continue.

Hess expects its net production to ramp up shortly to around 165 MMcf/d.

North Malay Basin comprises nine gas fields in block PM302 with combined recoverable reserves of over 1.5 tcf of gas and over 20 MMbbl of condensate.

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