Can some trader tell me why this is important, and how it affects the rakyat? And interpret the ‘said’ as ‘CYA’.
Dateline 2012-04-19:
Petroliam Nasional Bhd., the Malaysian state oil company known as Petronas, sold a cargo of its Penara crude to Royal Dutch Shell Plc (RDSA) and a shipment of Labuan to Exxon Mobil Corp., said two traders who participate in the market, declining to be identified because the information is confidential.
Leave a Comment » | 
Malaysian election, oil and gas | Tagged: Exxon, Petronas, Shell | 
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Posted by Wata
Dateline 2012-04-12:
Malaysia’s huge fuel subsidy bill, estimated at RM20 billion last year, is overdue for an overhaul. While reforms are imminent, few expect any of it can happen until the general election (GE) is over.
An indication of how far off we are from real market prices is plainly seen at the pumps.
Last week, the price of the market-driven RON97 petrol blend was increased by 10 sen to RM2.90 a litre. The more widely-used RON95 blend and diesel selling prices were kept at RM1.90 a litre.
It was estimated that the cost of petrol is at least RM2.80 a litre based on the crude oil price of US$120 a barrel.
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Posted by Wata
Dateline 2012-04-28, and I’m being paid too low…
The government of Malaysian Prime Minister Najib Razak launched the Economic Transformation Programme (ETP) in September 2010 with the ambitious goal of doubling income per person to $15,000 to reach developed-nation status by 2020.
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The ETP aims to consolidate Malaysia’s oil and gas (O&G) offshore fabricators to become more competitive regionally. OSK said this could benefit Kencana Petroleum Bhd (>> Kencana Petroleum Berhad) and Malaysia Marine of Heavy Engineering Bhd (>> Malaysia Marine & Heavy Engnrg Sdn Bhd), the remaining two listed larger fabricators. Offshore services firms such as Bumi Armada (>> Bumi Armada Bhd) are seen gaining from investments in the energy sector.
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Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: Bumi Armada, ETP, Kencana, MMHE | Permalink
Posted by Wata
Dateline 2012-04-09:
Deputy Prime Minister Muhyiddin Yassin today ridiculed Pakatan Rakyat’s plan to abolish the students’ loan scheme and offset it using the oil income, saying the idea would bankrupt the country’s oil company Petronas.
He called the idea mooted by Opposition Leader Anwar Ibrahim an irresponsible populist measure proposed without considering the repercussions.
Weak exports and domestic market makes oil Malaysia’s major income contributor. Muhyiddin claimed Petronas would have to spend as much as RM43 billion to offset the loans, something the country can’t afford.
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Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: Pakatan, Petronas, PTPTN | Permalink
Posted by Wata
Dateline 2012-04-09:
The oil and gas industry is set to play a leading role in stimulating growth for Sabah within the North Asia and the Brunei-Indonesia-Malaysia-Philippines East Asia Growth Area (BIMB-EAGA), said Chief Minister Datuk Seri Musa Aman.
He said Sabah is strategically located between the two major economic regions.
“One is the affluent markets of North Asia including Japan, Korea, Taiwan, Hong Kong and China, and second is the growth of developing markets within the BIMP-EAGA,” he said in his remarks when opening the 2012 Sabah Oil and Gas Conference and Exhibition here Monday.
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Posted by Wata
Dateline 2012-04-09:
Esso station operators in the Klang Valley claim that their businesses have been affected when they did not receive petrol and diesel supplies from the oil company lately.
The disruption in the supply of the commodity raised questions among operators of the petrol stations whether the problem was linked to the change in management following the take-over of Esso Malaysia Bhd by Petron Oil and Gas International Sdn Bhd.
Petron Oil and Gas International, a unit under San Miguel Corporation, acquired 65 percent interests in ExxonMobil International Holdings Inc including Esso petrol stations and the Esso oil refinery in Port Dickson in the transaction that was reported to have been concluded on March 30.
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Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: EMB, ESSO, Petron | Permalink
Posted by Wata
Dateline 2012-04-08:
Datuk Seri Anwar Ibrahim has insisted that Malaysia’s oil revenue could cover shortages in the country’s education bill, dismissing Datuk Seri Najib Razak’s claim yesterday that abolishing a federal student loan scheme would cost taxpayers RM43 billion.
The opposition leader, speaking at a rally in Stadium Melawati here last night, also disputed the figure given by Najib and said his calculations were much lower.
The prime minister was reported as saying yesterday that Anwar’s proposal to abolish the National Higher Education Fund Corporation (PTPTN) loan scheme was not feasible as it would cost the government RM43 billion, thus incurring an additional tax burden on Malaysians.
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Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: education, oil | Permalink
Posted by Wata
Dateline 2012-04-05:
Petronas said today its proposed Refinery and Petrochemical Integrated Development (RAPID) project, to be located in Pengerang, Johor, is progressing as scheduled.
In a statement, Petronas said RAPID’s proposed refinery would have a capacity of 300,000 barrels per standard day and it would supply feedstock for RAPID’s petrochemical complex as well as produce gasoline and diesel that meet European specifications.
The RAPID project aimed to capitalise on the growing need for speciality chemicals and to meet the demand for petroleum and commodity petrochemical products in the Asia Pacific region by 2016.
First announced by Prime Minister Datuk Seri Najib Tun Razak on May 13, 2011, the project has achieved several important milestones in the past few months.
Following the announcement, a detailed feasibility study on the proposed project was undertaken and completed in October 2011, it said.
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Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: Pengerang, RAPID | Permalink
Posted by Wata
Dateline 2012-04-02:
Fluor Corporation announced today following a formal signing ceremony in Kuala Lumpur, Malaysia, that it was awarded a contract by PETRONAS Gas Berhad, a subsidiary of PETRONAS, to provide front-end engineering and design (FEED) services for a new liquefied natural gas (LNG) regasification terminal in Malaysia. The new terminal will supply gas to an adjacent 300-megawatt combined cycle power plant in the town of Lahad Datu, Sabah. Fluor booked the undisclosed contract value in the first quarter of 2012.
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Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: bintulu, Flour, LNG | Permalink
Posted by Wata
This is a shout out for the IEM. My Technical Division will hosting a course on the 23rd and 24th May, 2012. It will be held at TUS room, Wisma IEM, Petaling Jaya. The course is worth 13.5 CPD or PDP points.
This course is designed to provide an appreciation of ASME and ISO welding codes and standards to those engineers involved in manufacturing and fabrication industries using arc welding technologies. Its objective is to help engineers understand how to apply these welding codes and standards to ensure the welds meet the quality requirements set by these codes and standards. The course will also provide general guidelines in applying and interpreting the rules along with case study.
Please register here. You can download the registration form here.
A map to Wisma IEM is presented here. It’s the building labelled ‘Putri Nursing College.’
I appeal to readers, come on and send yourselves and staff to these courses. I need the support.
Leave a Comment » | Malaysia, oil and gas | Tagged: welding | Permalink
Posted by Wata
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Wata - Malaysian Oil and Gas Engineer 