Saturday Star 2016-04-23– Job Opportunities

April 25, 2016

Happy stayin’ alive week. Donate to your favourite 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’m looking for jobs for 3Q2016. Send me your POs.
  • Nothing in the papers this week.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? Any weight loss diet.

Let’s get a bit nostalgic with the book selection.

Wetter, Louder, Stickier: A Baby Blues Collection (Baby Blues Scrapbook), BBXX: Baby Blues: Decades 1 & 2, Bedlam

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

More challenging environment ahead for O&G sector

April 24, 2016

Heck, if it gets even more challenging, us bottom feeders will have to pay clients to execute their work.

Dateline 2016-03-04, Borneo Post:

Analysts envisage a more challenging operating environment ahead for the oil and gas (O&G) sector in Malaysia.

The research arm of Kenanga Investment Bank Bhd (Kenanga Research) affirmed that domestic outlook remains sluggish this year with Petroliam Nasional Bhd (Petronas) slashing up to a total of RM20 billion from its capital expenditure (capex) and operating expenditure (opex), indicating further slowdown in contract awards to the local services players.

“Earlier on Monday, Petronas announced its financial year 2015 (FY15) results with core net profit plunging 45 per cent year-on-year (y-o-y) and cash flow from operations contracted by 33 per cent compared to the previous year,” it said.

“On top of that, Petronas is set to lay off 1,000 staff under the group-wide transformation plan to be more cost efficient.

…

 

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Posted by Wata

Lundin makes gas find off shore of Malaysia

April 23, 2016

Lundin seems to be a good place to work, with continuing new on exploration and finds.

Dateline 2016-03-03, Marketwatch:

Swedish oil producer Lundin Petroleum AB (LUPE.SK) said Thursday it has completed the Maligan exploration well in Block SB307/SB308, offshore East Malaysia.

The company said the well encountered significant gas shows and it has now been plugged and abandoned. It will be expensed in the first quarter of 2016.

Lundin Malaysia holds 65% working interest in SB 307/308. Partners are DYAS B.V. with a 20% working interest and PETRONAS Carigali Sdn Bhd with a 15% working interest.

Swedish oil producer Lundin Petroleum AB (LUPE.SK) said Thursday it has completed the Maligan exploration well in Block SB307/SB308, offshore East Malaysia.

The company said the well encountered significant gas shows and it has now been plugged and abandoned. It will be expensed in the first quarter of 2016.

Lundin Malaysia holds 65% working interest in SB 307/308. Partners are DYAS B.V. with a 20% working interest and PETRONAS Carigali Sdn Bhd with a 15% working interest.

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Posted by Wata

Malaysian state oil giant may borrow to finance spending

April 22, 2016

Apparently, PETRONAS is not cash rich.

Dateline 2016-03-01, Nikkei Asian Review:

Malaysia’s state-owned oil and gas producer Petronas said Monday it has made additional expenditure cuts and may borrow to weather “challenges” in 2016 as the sharp fall in crude oil prices continues to hurt earnings.

Petronas’ net loss improved to 4.69 billion ringgit ($1.1 billion) in the October-December quarter, from 9.87 billion ringgit in the same period in 2014, partly helped by a stronger U.S. dollar against the ringgit. However, for the full year, net profit plunged 64.5% to 13.15 billion ringgit on revenue of 247 billion ringgit. The company blamed this on lower average prices recorded across all products, along with Brent crude’s 47% fall to $52.46 per barrel in 2015.

Oil’s sharp fall, which began in mid-2014, hit Petronas’ upstream business the hardest. But its downstream business saw a 60% increase in net profit, on higher refining margins and sales volumes for its petrochemical products.
…

 

 

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Posted by Wata

Malaysia’s Petronas to cut about 1,000 positions after strategic review

April 21, 2016

Old news, but hey, I report the olds.

Dateline 2016-03-01, Reuters:

Malaysia’s Petronas announced it is making about 1,000 positions redundant and is reshuffling some senior executives after a strategic review, as the state-owned oil and gas company tries to cope with the hit from a plunge in oil prices.

Petronas, or Petroliam Nasional Bhd, is one of the biggest employers of Malaysians and has a staff of about 51,000 people, according to its 2014 annual report.

A 70 percent slump in crude prices since mid-2014 has been squeezing the finances of oil companies globally, including those of Petronas, which makes up about a third of the Malaysian government’s oil and gas revenue.

Earlier this week, the company posted a quarterly net loss and confirmed plans to cut spending by 50 billion ringgit ($12.0 billion) over the next four years.

…

 

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Posted by Wata

Shout Out – Technical Visit to Aker Solutions Manufacturing Centre, Port Klang

April 19, 2016

My Technical Division will be arranging a Trip to visit Aker on the 5th May, 2016. It is worth some CPD points (don’t know why the page says 0).

Aker Solutions is a global provider of products, systems and services to the oil and gas industry. Their engineering design and technology bring discoveries into production and maximize recovery from each petroleum field. They employ approximately 15,000 people in 20 countries. Aker Solutions portfolio of oilfield stretches all the way from the reservoir to the wellstream processing systems generating marketable and valuable hydrocarbon products.

The Aker Solutions Manufacturing Centre in Port Klang assemble oil and gas production equipments and systems. Some of the items that have been manufactured are topsides process packages, subsea structures, subsea christmas tree, subsea control module, subsea wellheads, and drilling and production risers. In this visit, visitors will be able to learn how the manufacturing centre is operated and maintained.

…

Register here, and you can download the form here.

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

Saturday Star 2016-04-16– Job Opportunities

April 18, 2016

Happy Miri week. Donate to your favourite 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’m looking for jobs for 3Q2016. Send me your POs.
  • Nothing in the papers this week.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? Any weight loss diet.

Let’s get a bit nostalgic with the book selection.

Wetter, Louder, Stickier: A Baby Blues Collection (Baby Blues Scrapbook), BBXX: Baby Blues: Decades 1 & 2, Bedlam

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

Petronas posts $704 million fourth-quarter net loss, confirms spending cuts

April 17, 2016

Dateline 2016-02-29, Reuters:

…

Malaysia’s Petroliam Nasional Bhd, or PETRONAS, reported a fourth-quarter net loss on Monday and announced spending cuts for the next few years, as the state oil company braces for a prolonged period of low oil prices.

Petronas reported a net loss of 2.96 billion ringgit ($704.3 million) for the October-December period, compared with a loss of 7.3 billion ringgit a year ago. The company attributed the net loss to impairment of assets caused by low oil prices.

Revenue for the quarter was 60.1 billion ringgit, down nearly a quarter from 79.4 billion ringgit for the corresponding period a year ago.

The 70 percent slump in crude oil prices since mid-2014 has been squeezing the finances of unlisted Petronas, which accounts for about a third of the Malaysian government’s oil and gas revenue.

…

 

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

Conquering the fear of failure

April 16, 2016

Inspirational stories, for these tough times in the O&G sector.

Dateline 2016-02-29, FMT:

…

Since then, two very enterprising Malaysian firms from my native oil and gas sector have come forward to share their experiences.

ProEight started as an engineering consultancy. After thoroughly understanding their position in the market and identifying gaps, the firm developed their own products. Today, their portfolio of mechanical seals and pumps is not only one of the best in class, their after sales service in the region is unparalleled.

…

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

MALAYSIA As jobs dry up, oil and gas workers rely on Petronas’ Pengerang project for a lifeline

April 14, 2016

As the song says, “So true, funny how it seems..“, and matches my call for classical engineering degrees, rather than needle-sharp niche ones.

Dateline 2016-02-28, Malay Mail Online:

State oil giant Petronas’ flagship project in Johor’s south-eastern tip of Pengerang has become a life raft for many oil and gas workers as contracts and new job opportunities dried up across the board over the past year.

The building of a new oil refinery and petrochemical plant, for which work started in 2012 and started picking up pace beginning last year, has taken in a growing number of oil and gas workers from all over the country.

“I took a pay-cut to work in Pengerang. It was either this or nothing at all for me,” said Thilak Jaganathan, a 28-year-old safety inspector.

…

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

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