Murphy Closes Sale of 30% of its Malaysian Oil, Gas Assets to Pertamina

April 3, 2015

Apa khabar, Bapak2 dan Ibu2?

Dateline 2015-01-30, Rigzone:

Murphy Oil Corporation announced Thursday that its wholly owned subsidiaries, Murphy Sabah Oil Co., Ltd. and Murphy Sarawak Oil Co., Ltd. (collectively Murphy), have closed on the second phase of the sale of 30 percent of Murphy’s Malaysian oil and gas assets to PT Pertamina Malaysia Eksplorasi Produksi (Pertamina).

The second phase covers the remaining one-third of the transaction or 10 percent of Murphy’s Malaysian oil and gas assets. The first phase for two-thirds of the transaction closed on Dec. 18, 2014. The total transaction for 30 percent of Murphy’s Malaysian oil and gas assets had an aggregate sale price of $2.0 billion, subject to normal closing adjustments, with an effective date of Jan. 1, 2014.

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Maslan confident oil won’t dip below US$40/barrel

April 2, 2015

Pick up your Lumia 530, and Cortana “oil price”. Then Cortana “who sells seashells by the seashore?”

Dateline 2015-01-29, FMT:

Deputy Finance Minister Ahmad Maslan has expressed his confidence that the crude oil price will not fall below US$40 a barrel this year. He said instead, it would not exceed the crude oil price assumption of US$55 a barrel used by the government in the 2015 Budget revision as announced recently.

“If the price of oil were to fall below US$40 a barrel, oil companies will not be able to produce oil because the cost will be higher than the revenue.

“I am confident that the Organisation of the Petroleum Exporting Countries (OPEC) will also not allow the price to fall below that level,” he told Bernama after an interview on the ‘Dalam Radar’ programme over Radio24.

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Marketing Rounds – Food in Lahat

April 1, 2015

More food in Lahat.

IMG_20150127_114053 IMG_20150127_121850 IMG_20150127_121858

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‘Low oil price needs relook at strategies’

March 31, 2015

Dateline 2015-01-29, Borneo Post Online:

With the high supply, advancement of technology and slowing demand in the crude oil industry, it is necessary for industry players to relook at their strategies and approaches.

According to Mazuin Ismail, vice president of Technical Global, Upstream Business, Petronas Malaysia, demand is slowing and Organization of the Petroleum Exporting Countries (OPEC) is not being able to control it too much.

As such, the period of low oil price is likely to persist over the next few years.

“When we look at the prolonged period of oil price, we believe this will ‘stress test’ the industry because of the lower price. We have seen how it is reported that capital flight as much as US$500 billion has taken place.

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Saturday Star 2015-03-28 – Job Opportunities

March 30, 2015

Happy GST day. Please don’t audit me. Buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). Where are those corporate sponsors? Or throw donations at me.

  • Nothing in the papers today.
  • An associate of mine is looking for a technical safety part-time adviser. Needs to be needle sharp with respect to QRAs, and HSE safety cases. A calm demeanor to handle nonsensical questions from young engineers helps as well. Either that, or a drinking problem.
  • Hess is still looking for a measurement and allocation engineer.
  • Nothing else 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? How if you visit Vietnam, how about visiting and updating GoHalalVietnam! for your food needs. For your other needs, talk to your local tour guide/ concierge / man on the street.

As crude prices are low, you need all the help you can get to nail that elusive 2k job:

Social Engineering: The Art of Human Hacking, Ghost in the Wires: My Adventures as the World’s Most Wanted Hacker, The Art of Deception: Controlling the Human Element of Security

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Malaysia hab ERCS di Asia Tenggara

March 29, 2015

Who is Wild Geese? And do I see an OIMS badge?

SYARIKAT Wild Geese Group Sdn. Bhd. (Wild Geese) yang menyediakan pusat perkhidmatan maklum balas kecemasan (ERCS) khas untuk pemain industri minyak dan gas dunia membuka habnya di negara ini baru-baru ini.

Perkhidmatan yang berpangkalan di Kuala Lumpur itu merupakan yang pertama di Asia Tenggara dan kedua di seluruh dunia dijangka memberi kelebihan kepada pelantar minyak dan gas di sekitar Malaysia serta negara serantau.

Ketua Pegawai Eksekutif Kumpulan Wild Geese, Tim Allsop berkata, kewujudan hab itu berfungsi sebagai perkhidmatan luaran untuk tindak balas kecemasan di pelantar bertujuan meminimumkan jumlah kecederaan dan menyelesaikan kecemasan pada kadar segera.

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Oil and gas worry in Labuan

March 27, 2015

Are part of the layin’ and slashin’?

Dateline 2015-01-23, Daily Express:

The continuing downtrend in crude oil prices which has dumbfounded even the industry’s biggest players is causing an uncomfortable feeling among hundreds here depending on the sector.

Especially now that the world’s leading oil-field services company Schlumberger is laying off 9,000 workers and slashing its global workforce by seven per cent and Halliburton, another giant, laying off 1,000 workers in the “Eastern Hemisphere”.

Both these companies have a strong presence here and have been in operation for years. Halliburton even has its own warehouse and hundreds of workers under its payroll, most of whom are highly paid.

There are about 5,000 people engaged in the oil and gas sector with the Asian Supply Base (ASB) alone having 9,000 direct staff and another 4,000 employees with supporting companies mostly using the base.

Apart from Halliburton and Schlumberger, there are production sharing companies like Shell, Petronas, Murphy Oil, Nippon Oil, Armeda Hazz, Newfield and Petronas-Carigali.

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Putrajaya’s 2015 oil price forecast ‘not unreasonable’, analysts say

March 26, 2015

Now, check the actual price of oil.

Dateline 2015-01-22, Malay Mail:

Economists and industry observers have supported Putrajaya’s move to pegging its revised Budget 2015 to an optimistic oil price forecast of US$55 (RM198.5) per barrel, saying it was not an unreasonable estimate.

Although acknowledging that global prices have already dropped below US$50 per barrel instead of recovering, the analysts said predicting an annual price would be “inherently difficult” and agreed that US$55 is a realistic forecast.

“According to the most recent figures from oil futures markets, prices are expected to average about US$54 per barrel in 2015. The assumption (of US$55 per barrel), therefore, does seem realistic,” said World Bank’s senior economist for Malaysia Dr Frederico Gil Sander.

“Nevertheless, it is important for the government to be prepared in case of both higher and lower prices of oil.”

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Marketing Rounds – Light Snack

March 25, 2015

Hey, when in Lahat …

IMG_20150127_104336 IMG_20150127_104252 IMG_20150127_104253

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Anniversary – Exxon Valdez

March 24, 2015

EPMI engineers never forget.

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