From the Star – Sabah and Sarawak Left Out

October 30, 2010

Pouring oil on the fire, dateline 2010-10-19: Is it politically correct to bring out at this point that I need a work permit to ply my trade in Sabah and Sarawak?

DAP national publicity secretary Tony Pua has claimed that Sabah and Sarawak will remain marginalised because most projects under Budget 2011 are for peninsular Malaysia.

Of 39 prominent projects stipulated in the Budget, Pua said only eight were based in the two states and that the value of all projects in the peninsula amounted to a massive RM109.74bil.

“In contrast, Sabah and Sarawak’s amounted to a meagre RM9.55bil or just 8% of the total value,” he told reporters at Parliament lobby.

Pua said in the oil and gas sector, Sabah and Sarawak had contributed 44.5% in terms of crude oil and 64.1% of natural gas production in 2007.

“Based on the Ninth Malaysia Plan mid-term review, the two states remained the poorest in the country. It is hard to imagine that it was only in 1970 when Sabah was the second richest state in the country.”

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

Talisman Invests in 14 GeoSc, Eng Students.

October 28, 2010

Taken from the CSR digest, dateline 2010-10-20:

Talisman Malaysia Limited held the 2010 Talisman Malaysia Limited Scholarship Award Presentation Ceremony recently at the Mandarin Oriental hotel in Kuala Lumpur. Officiating the event was YB Datuk Haji Omar bin Abd. Rahman, Deputy Secretary General (Management), Ministry of Higher Education, Malaysia. Also attending the ceremony was Vice President of Operations and Engineering and Acting Country Manager Talisman Malaysia Limited, Jim Tarlton.

…

4 Comments | Malaysia, oil and gas | Permalink
Posted by Wata

From the Star – Uzma wins Oil Contract

October 27, 2010

I know the fellas at Uzma are smart, but this news release must rank among those most empty of information. Do you buy or sell Uzma share?

Taken from the Star, dateline 2010-10-23:

Oil and gas contractor Uzma Bhd told Bursa Malaysia yesterday its wholly owned unit has received a letter of award from a national oil company as one of the contractors appointed to do subsurface studies for “routine and enhance oil recovery services’’ for an intial period of three years.Uzma did not named the national oil firm, disclosed any financial details with regards to the appointment. “It should be noted that the subsurface contract does not constitute or imply a commitment by the oil firm to award any specific volume of works to Uzma.”

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

2 Comments | business opportunity, Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata

Saturday Star 2010-10-23 – Job Opportunities

October 25, 2010

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.

  • There’s a full page ad for Saudi Aramco Total (SATORP). Maybe I should drop by when I am in-country next month. The positions are too numerous to list here. You can apply via email here or here. Or key in your resumes online here. Login under candidate login and password at the website.
  • I see that QatarGas is looking for people.They are looking for a Head of Shutdown, Snr Mech Tech, Snr Instrument Tech, Snr F&G Tech, Snr Elec Tech, Snr Metering Tech,  Meridium Function Support (CMMS) Eng. Apply here. or snail mail to No. 68 & 70 Fraser Business Park, Jalan Metro Pudu 2, Off Jln Yew, 55200 Kuala Lumpur.

 

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

From Bloomberg – Petronas Chemicals Said to Plan $4 Billion IPO

October 24, 2010

From Bloomberg, dateline 2010-10-12:

Petronas Chemicals Bhd., the petrochemicals unit of Malaysia’s state oil company, may raise as much as $4 billion in the Southeast Asian nation’s biggest initial public offer, said two people familiar with the matter.

Banks advising on the sale set an indicative price of 5.20 ringgit per share, said the people, who spoke on condition of anonymity. The company had originally planned to raise about $2 billion, people with knowledge of the matter said in June.

Petronas Chemicals is one of two Petroliam Nasional Bhd. units slated for a listing this year. Malaysia Marine & Heavy Engineering Bhd., a maritime heavy engineering group, said in a prospectus Oct. 6 that it aims to raise as much as 2.04 billion ringgit ($655 million) this month.

…

3 Comments | business opportunity, Malaysia, oil and gas | Permalink
Posted by Wata

From Bloomberg – Petronas Sets Tapis Crude Oil Price Factor at Record for a Second Month

October 23, 2010

From Bloomberg, dateline 2010-10-12:

Petroliam Nasional Bhd., Malaysia’s state oil and gas company, increased a price-adjustment factor for its benchmark Tapis crude to a record for a second month.

Petronas, as the Kuala Lumpur-based company is known, raised the factor to $4.20 a barrel for October, up 10 cents from September, said an official today, asking not to be identified because of corporate policy. Last year, the adjustment factor averaged $2.48.

The increase follows a recovery in profit for turning light crude such as Tapis into gasoil, or diesel. The product’s premium to Dubai crude, the Asian benchmark, ended September trading at $11.97 a barrel, the first monthly gain in three, according to brokers PVM Oil Associates. This crack spread climbed to $13.38 today, the highest since Aug. 3.

Petronas includes the Tapis adjustment factor in its formula for calculating monthly crude official selling prices. The other component is the average of twice-weekly assessments compiled by the Asian Petroleum Price Index, a Hong Kong-based panel of traders.

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

From the Oil & Gas Journal – Global LNG production growth continues to lag expectations

October 22, 2010

Dateline 2010-10-04:

…

Malaysian LNG exports are fairly stable and little changed from last year’s export levels of about 3 bcfd (Fig. 4). Deliveries originating in Malaysia have run 100 MMcfd short of last year’s (roughly one cargo per month), according to Waterborne Energy data for first-half 2010. The Department of Statistics of Malaysia, however, reports that through May of this year the country exported 3.6% more LNG than in the first 5 months of 2009. In the longer run—by 2014—Malaysia anticipates a shortfall of natural gas supply for domestic needs and is exploring the possibilities to build a regasification terminal. Supplies for the terminal will likely come from Gladstone LNG in Australia, the final investment decision for the first train of which is expected in second-half 2010.

…

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

From the Edge – Petronas: Outlook less rosy in 2H

October 21, 2010

Taken from the Edge, dateline 2010-10-10:

Petroliam Nasional Bhd (Petronas) chalked up a nearly 60% growth in net profit to RM12.3 billion in 1QFY11 ended June 30 versus RM7.7 billion a year ago, thanks to higher crude oil prices and bigger sales volume.  

Revenue rose 26.3% to RM58.6 billion from RM46.4 billion in the previous corresponding quarter, while pre-tax profit surged 39% to RM21.4 billion from RM15.4 billion.

However, its CEO Datuk Shamsul Azhar Abbas said the outlook for the second half of FY11 ending March 31 was “less rosy” amidst the uncertainties over the global economy.

“The prospects for a sustainable global recovery in the short and medium term appear questionable,” he told the media when announcing Petronas’ 1QFY11 financial
results yesterday.

…

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

From Platts – Petronas holds ‘competitive and challenging’ outlook for industry

October 20, 2010

Taken from Platts, dateline 2010-10-05:

Petronas expects the oil and gas industry to remain highly “competitive and challenging,” but the company is positioning itself towards a “new reality” with cost optimization, robust growth strategies and operational excellence, the Malaysian national energy company said late Monday.

In a statement that marked the first time Petronas has reported quarterly results, the company said that the current industry environment was “fraught with high costs, elevated trend and volatility of oil prices, and the prospect of margin erosion.” It, however, asserted that it had put in place strategies in all its business segments to deliver a sound performance in the financial year.

The company reported a net profit of MR12.3 billion ($4 billion) in the April-June quarter, the first quarter of fiscal 2010-2011, up nearly 60% from the same period the previous year led by higher oil and gas prices and sales volume for all products, including refined oil products, petrochemicals, gas and LNG.

…

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

From the Borneo Post – Oil Town to get RM120 mln greasing

October 19, 2010

And no, we’re not talking about Kerteh here.

Dateline 2010-10-05:

Mirians tired of the daily traffic jams along the road leading to Pujut 7 bridge can look forward to a solution to the problem in about two years from now.

The Works Ministry has approved a sum of RM120 million for a traffic flow improvement project.

Its minister Datuk Shaziman Abu Mansur announced the approval when observing the traffic congestion problem, particularly during peak hours, in the vital route linking the densely populated northern part of Miri, Pujut and beyond.

…

1 Comment | investment, Malaysia, oil and gas | Permalink
Posted by Wata

« Previous Entries
Next Entries »