Petronas To Award Additional Licenses To Develop Marginal Fields

April 8, 2012

Dateline 2012-04-02:

Petroliam Nasional Bhd (Petronas) will be awarding additional licences this year to develop marginal fields to bolster crude oil and gas production to further stimulate growth in the Oil, Gas and Energy sector.

The additional licenses would also support to maintain production at 650,000 barrels per day, the Performance Management & Delivery Unit (Pemandu) said in the Economic Transformation Programme Annual Report 2011 released today.

This move to develop small fields through innovative solutions is part of the entry point projects (EPPs) in the Oil, Gas and Energy (OGE) industry under the National Key Economic Areas (NKEA).

Having passed the Petroleum Income Tax Act last year to introduce new tax incentives for the oil and gas sector to unlock and monetise stranded O&G resources, the Act would be utilised to incentivise new players to enter the marginal field development segment, the report said.

Among licenses awarded in 2011 were risk service contracts to Sapura Kencana Petroleum Bhd and Petrofac Energy Developments Sdn Bhd.

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Posted by Wata

Malaysia’s Bumi Armada, MISC vying for Hess job

April 6, 2012

Dateline 2012-03-19:

Malaysian shipping firms Bumi Armada Bhd and MISC Bhd are front runners for a contract to supply a floating, production, storage and offloading vessel to U.S-based oil and gas firm Hess Corp , the Edge Malaysia reported on Saturday.

Bumi Armada has partnered with Singaporean offshore services firm Ezra Holdings Ltd and MISC has joined hands with Malaysian offshore oil and gas firm Ramunia Holdings Bhd to bid for the job, the business weekly reported, quoting unidentified industry sources.

“It should be announced soon, the latest by the end of this month, if Hess wants the job to start by year-end,” the paper quoted an oil and gas official as saying.

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Posted by Wata

Petronas Carigali’s gas price hike to raise domestic selling prices

April 4, 2012

Dateline 2012-03-17:

Petronas Carigali Sdn Bhd’s (Petronas Carigali) agreement to buy natural gas from Natuna at a revised price of US$6 per million British thermal units (mmBtu) will expedite the process of raising domestic gas selling prices, which are heavily subsidised at present.

Theoretically, the adjusted Natuna price was 31 per cent higher than the price currently paid by the power segment (US$4.57 per mmBtu) but two per cent lower than industrial segment’s of US$6.12 per mmBtu, said Maybank Investment Bank Bhd (Maybank IB) in its report yesterday.

“While a hike in gas prices is inevitable, policymakers have yet to come out with a concise gas price blueprint,” it highlighted.

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Posted by Wata

Oil price remains a concern

April 3, 2012

Dateline 2012-03-17:

The elevated price of crude oil, which translates into higher costs, will continue to be the main concern among Asean economies as they face a slowdown in growth due to a drop in exports.

For Malaysia, economists are now leaning towards no change in the benchmark interest rate, which has been kept at 3% since May last year when the overnight policy rate (OPR) was raised by 25 basis points.

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Posted by Wata

Saturday Star 2012-03-31 – Job Opportunities

April 2, 2012

Support me by purchasing my recommendations, or buying through my Amazon store. I need the money to pay for running this site. Corporate level sponsors are encouraged.

If you need my help to submit your CVs, donate to the blog, and I’ll review your CV to see if it is worthy of my (and my associates’) expectations. If you can’t figure out how to donate, no need to ask.

  • I’m looking for a senior process engineer, 7+ years experience. Send your cv here . Also looking for process safety persons, lead piping designer, lead instrument engineer, and other seniors you think will catch my eye.

 

May I suggest that readers install the Waze app on their phones? And use it as much as possible? It says its a “a social mobile application providing free turn-by-turn navigation based on the live conditions of the road. 100% powered by users, the more you drive, the better it gets. Join the community of drivers in your area today!” It’s definitely getting better for the Klang Valley area, though we need more users from East Malaysia.

Support your local bookshop! Visit Bookalicious at The Summit Subang, good selection of imported books. I think they focus on trilogies, quadrilogies, and otherologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Maybe I should say that next time I visit them. Those of you who have dropped my name, thanks!

BTW, did I tell you that I am the Secretary of MOGEC?

For those of you who have a healthy skepticism to my industry, these books are for you:

  

Why We Hate the Oil Companies: Straight Talk from an Energy Insider, The Party’s Over: Oil, War and the Fate of Industrial Societies, Barbarians of Oil: How the World’s Oil Addiction Threatens Global Prosperity and Four Investments to Protect Your Wealth (Agora Series)

This week’s food promotion is … masak asam pedas. If you find nice places around PJ, let me know. I’ve tried the one across from the PJ State Police Station, and the shop next to Dewan MPSJ in PJ State.

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

Rosen Scares Me

March 31, 2012

I really hope their intelligent pigs don’t get up and transform. For the low down, visit Rosen here.

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Posted by Wata

Petronas proposes gas price mechanism

March 30, 2012

Dateline 2012-03-06:

Petroliam Nasional Bhd (Petronas) has proposed a pricing mechanism for natural gas once the regasification terminal in Melaka comes into operation in August.
“We have sat down with three [deputy ministers] a few weeks ago, and we proposed a review of the formula. It is now being brought to the Economic Council. So, we are waiting for that,” said president and CEO Datuk Shamsul Azhar Abbas at the national oil corporation’s financial results announcement yesterday.
The terminal will allow Petronas to import gas to make up for the current shortage. A pricing mechanism is necessary as currently Petronas’ supply of gas is heavily subsidised.
With the additional supply of imported gas, local prices will slowly rise to be on par with international market prices.

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Posted by Wata

Petronas sees growth slowdown until 2014

March 27, 2012

I think we should focus on tin and electronics again. What say you?

Dateline 2012-03-06:

Petroliam Nasional Bhd (Petronas), which posted one of the highest ever nine-month results ended Dec 31, forecasts that growth will slow down this year and next due to production issues.

The national oil company, whose new financial year starts from Jan 1 this year from April 1 before, posted a 10.8% rise in net profit to RM55.6bil on higher margins for the nine-month period compared with the previous corresponding period while revenue jumped 26.9% to RM222.8bil due to higher realised prices and improved liquefied natural gas sales volume.

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Posted by Wata

Saturday Star 2012-03-24 – Job Opportunities

March 26, 2012

Support me by purchasing my recommendations, or buying through my Amazon store. I need the money to pay for running this site. Corporate level sponsors are encouraged.

If you need my help to submit your CVs, donate to the blog, and I’ll review your CV to see if it is worthy of my (and my associates’) expectations. If you can’t figure out how to donate, no need to ask.

  • I’m looking for a senior process engineer, 7+ years experience. Send your cv here . Also looking for process safety persons, lead piping designer, lead instrument engineer, and other seniors you think will catch my eye.
  • Petrofac is looking for an offshore installation manager, production superviosr, maintenance supervisor, production technician, e&i technician, mech technician, turbo machinery technician, deck foreman, deck crew. Contact them here.
  • I see that Qatar Petroleum is looking for lots of heads / kepala / rais. That would be for EOR, Operations, Surveillance, snr geologist, geophysicist, petroleum engineer, petrophysicist, res engineer, petroleum engineer, geologist. Apply here or visit the website.
  • Kencana Petroleum is looking for project managers, engineering manager, procurement manager, HU&C manager, QA/QC manager, planning/scheduling manager, project HSE manager.  Send an email here.

May I suggest that readers install the Waze app on their phones? And use it as much as possible? It says its a “a social mobile application providing free turn-by-turn navigation based on the live conditions of the road. 100% powered by users, the more you drive, the better it gets. Join the community of drivers in your area today!” It’s definitely getting better for the Klang Valley area, though we need more users from East Malaysia.

Support your local bookshop! Visit Bookalicious at The Summit Subang, good selection of imported books. I think they focus on trilogies, quadrilogies, and otherologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Maybe I should say that next time I visit them. Those of you who have dropped my name, thanks!

BTW, did I tell you that I am the Secretary of MOGEC?

For those of you who have a healthy skepticism to my industry, these books are for you:

  

Why We Hate the Oil Companies: Straight Talk from an Energy Insider, The Party’s Over: Oil, War and the Fate of Industrial Societies, Barbarians of Oil: How the World’s Oil Addiction Threatens Global Prosperity and Four Investments to Protect Your Wealth (Agora Series)

This week’s food promotion is … masak asam pedas. If you find nice places around PJ, let me know. I’ve tried the one across from the PJ State Police Station, and the shop next to Dewan MPSJ in PJ State.

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

Petronas posts RM53b net profit on efficiency gains

March 25, 2012

Dateline 2012-03-05:

State oil firm PETRONAS Group has posted RM53 billion net profit for the nine months ended December 31, 2011, excluding gains, owing to higher margins from improved plant performance.

Group revenue also improved by 26.9 per cent from the 2010/11 financial year to RM222.8 billion on the back of higher realised prices and improved gas sales volume.

Gross operating profit after tax surged 30 per cent to RM52.4 billion from the previous financial year, with the group’s energy and production division recording the highest incremental contribution on stronger crude prices.

…

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

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