From the Star – Analysts snuff out oil & gas excitement

January 30, 2011

Dateline 2011-01-19:

PETALING JAYA: It is understandable that when Prime Minister Datuk Seri Najib Tun Razak announced billions of ringgit worth of investment in the oil and gas industry to enhance oil extraction from marginal fields, there was quite a bit of excitement generated among industry players as well as in the stock market.

The announcement was made on Jan 11 in the third update of the Economic Transformation Programme (ETP) with investments (some of it ongoing) by Petroliam Nasional Bhd (Petronas) together with partners Exxon Mobil Corp and Shell Malaysia totalling over RM15bil.

While the stock market was already on an uptrend, oil and gas counters became the focus of investors over the two days following the announcement. For example, the share prices of Kencana Petroleum Bhd and SapuraCrest Petroleum Bhd were at their highest for the year on Jan 12.

There are now expectations that Petronas would award multi-billion ringgit contracts for the development of marginal oil fields by the end of this month to several consortia comprising local and foreign companies, which could involve the parties taking equity stakes in joint ventures.

…

You can subscribe to an online version of the paper at the e-browse site.

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From Bernama – Call to Liberalise Natural Gas Mart by 2013

January 29, 2011

Dateline 2011-01-18:

Malaysia should aim to liberalise the natural gas market by 2013 to allow industry players time to plan ahead to bring in their own supplies while the country is still a net producer.

President of the Association of Water and Energy Research Malaysia, S. Piarapakaran, said Malaysia was expected to become a net gas importer by 2016 based on the current consumption pattern.

“From 1990 to 2008, gas usage in Malaysia increased by 3.9 times to 27,000 ktoe (kilotonne of oil equivalent),” he told Bernama here Wednesday.

Piarapakaran was commenting on the government’s move to reduce subsidies to the energy sector and achieve a market-driven price structure by 2015 under the 10th Malaysia Plan.

…

 

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From the Sun – OSK cuts profit forecast for PETRONAS Gas

January 28, 2011

And this is the latest article where the BeC fire is mentioned:

Dateline 2011-01-21:

OSK Research has warned that Petronas Gas Bhd’s profits for the second half of its financial year ending March 31, 2011 (FY11) were unlikely to match its stellar first-half performance as a result of the Bekok C gas platform fire, offshore Terengganu, in December.

Due to the loss of some 5% of gas supply from Bekok which would affect its gas processing and transmission revenue as well as revenue from extracting propane and butane, OSK Research cut its net profit forecast for Petronas Gas by 0.4% for FY11, 3% for FY12 and 1.4% for FY13, which in turn reduced its target price slightly to RM13.54 from RM13.65.

…

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From the Star – Oil prices soar and hurt

January 27, 2011

Dateline 2011-01-09:

Oil prices surged toward the last quarter of 2010 to trade above US$90 (RM276.12) a barrel, raising concerns of higher food and fuel prices, reduced purchasing power and threatening the global economic recovery.

…

You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.

4 Comments | business opportunity, Malaysia, oil and gas | Permalink
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From the Star – RNZ Integrated says it has the expertise for oil project

January 26, 2011

Ah, our good friends at RNZ are back in the news. When will their wealth spill over to me? Deposits into my offshore Nigerian dictator ‘I really need to get this money to your account’ account, please.

Dateline 2011-01-06:

KUALA LUMPUR: RNZ Integrated (M) Sdn Bhd has denied it was incapable of undertaking the detailed design work for the Maersk Oil Qatar (MOQ) project for Sime Darby Enginering Sdn Bhd (SDE).

Managing director/chief executive officer Rozali Ahmad said RNZ had achieved ISO9001 certification for provision of engineering, design, procurement assistance and project management services for the development and modification of oil and gas production, installation and process facilities.

“RNZ has the reputation for successful execution of numerous projects in Malaysia, Sudan, India, Vietnam, Turkmenistan, Iran and Qatar,” he told Bernama yesterday.

Rozali said RNZ had been involved in the Sumandak Selatan integrated development project (offshore Sabah), Bunga Tulip A development project (Malaysia-Vietnam border), Tanjong Langsat Port oil development project (Johor), Muglad Basin development project and Bashayer 2 marine terminal (Sudan) and Monopod development project (India).

…

You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.

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Saturday Star 2011-01-22 – Job Opportunities

January 25, 2011

Support me by purchasing my recommendations, or buying through my Amazon store.

First off, 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.

Synergy is looking to fill the following positions:

Contact us if you have the qualifications and the interest. Only shortlisted candidates will be contacted.

And there’s nothing else. Maybe it’s to compensate for last week’s plethora of positions.

 

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BeC – What Happened?

January 24, 2011

I’ll do the weekly job roundup tomorrow, had a leaking water pipe, so that took (and still is a) priority.

Last we heard about the incident, 6 people were injured, but this was way back in Dec. Anyone have any updates? Rumor has it that there is no gas flowing from the platform, due to the extent of damage.

2 Comments | Malaysia, oil and gas | Tagged: , | Permalink
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From the Daily Express – Quarter of the nation’s crude oil from Sabah

January 23, 2011

Dateline 2011-01-09:

Kota Kinabalu: Sabah contributed more than quarter of the nation’s crude oil last year.

Chief Minister, Datuk Seri Musa Aman said the State chipped in about 26.9 per cent of the country’s overall crude oil output, which totaled more than 637,000 drums daily.

The oil and gas industry was one of the main contributors to Sabah’s economic sustainability, he said, adding many large-scale projects in the sector have been developed.

“These includes the Kikeh Oil Field, which is the first offshore deepwater oil field in Malaysia and the Sabah Oil and Gas Terminal (SOGT) in Kimanis as the industry’s hub in the State’s West Coast,” he said during the Petronas Petroleum Technology Institute (Instep) 2010 Convocation, Saturday.

“I am confident the sector has the potential to grow even further in future.”

In the same breath, Musa said such development could only be achieved with skilled and experienced labour such as those produced by national oil company Petronas.

…

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From Bernama – DPMM Sabah And SOGCA Ink MoU With Naim To Cooperate In SOGT Project

January 22, 2011

And… SOGT is still is the news. When they going to bury that puppy and move on? Oh, and when is the SOGT design consultant allowed to make good with PETRONAS?

Dateline 2011-01-11:

KOTA KINABALU — A memorandum of understanding (MoU) was inked Tuesday between NCSB Engineering Sdn Bhd, the Malay Chamber of Commerce Malaysia (DPMM) Sabah chapter and the Sabah Oil and Gas Contractors Association (SOGCA).

The MoU is to mark the collaboration in future projects under the Sabah Oil and Gas Terminal (SOGT) in Kimanis.

A subsidiary of Sarawak-based conglomerate Naim Holdings Bhd, NCSB Engineering has partnered Samsung Engineering Co. Ltd in a joint venture (JV), whereby, the companies were awarded the RM2.4 billion contract to built the SOGT by Petronas Carigali last year.

…

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From the WSJ – Exxon, Shell to Invest $5 Billion in Malaysia

January 21, 2011

Dateline 2011-01-11:

Energy companies Exxon Mobil Corp. and Royal Dutch Shell PLC plan to invest a total of about $5 billion in Malaysia, the government said Tuesday.

The agreements come as Malaysia seeks to attract $444 billion in investments by 2020.

The largest deal disclosed Tuesday involves units of Exxon and Malaysian company Petroliam Nasional Bhd., or Petronas. ExxonMobil Exploration & Production Malaysia Inc. and Petronas Carigali intend to invest more than 10 billion ringgit, or about $3.25 billion, in new oil and natural-gas assets in the South Asian nation, the Malaysian government said in a written statement.

Shell’s local arm, Shell Malaysia, plans to invest 5.1 billion ringgit to upgrade, expand or build facilities in the country.

…

Malaysia, which produced 657,700 barrels of oil and condensates per day as of Jan. 1, 2010, is expected become a net oil importer by 2013.

..

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