Apparently Malaysia Can’t Afford Fuel Subsidies Anymore

April 19, 2022

Expansion and maximizing use of public transport will help delay the climate crisis. And making non-burp durians, important research work, that.

Dateline 2022-03-14, Carlist.my (yup):

Last week, Finance Minister Tengku Zafrul Abdul Aziz expressed his intention to review the fuel subsidies currently in place due to the sharply rising global price of crude oil, which recently has exceeded US$120 per barrel (RM503.16), stimulated by the ongoing Russian-Ukrainian conflict.

A recurring concern of many lately has been the price of fuel, or more specifically how much the price of crude oil has to rise until the Malaysian government is seemingly no longer willing to offer the Rakyat the heavily subsidised RON95 at RM2.05/litre that has been the norm for the past year.

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Malaysia’s Kimanis oil exports to fall in May on field maintenance

April 18, 2022

Dateline 2022-03-11, Reuters:

Exports of Malaysia’s flagship Kimanis crude oil are set to fall to six cargoes in May, down two from April, due to maintenance at oilfields offshore Sabah, a preliminary loading schedule showed on Friday.

Shell , operator of the oilfields that produce Kimanis, declined to comment. Oilfields equity owner Petronas (PETR.UL) did not immediately respond to a request for comment.

The Sabah Oil and Gas Terminal (SOGT), which processes oil and gas produced from the region’s offshore fields, will be shut in mid-May for brief maintenance, a source with knowledge of the matter said.

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Petronas still driving Malaysia’s upstream

April 17, 2022

Dateline 2022-03-08, Petroleum Economist:

The state-owned firm is doing most of the running, but IOCs are also active as the country seeks to sustain both production and LNG exports in particular
Malaysian state-owned Petronas’ policy of pressing on with offshore development despite the pandemic began to reap dividends around the turn of the year, with reports of several new finds and fresh drilling activity off the coast of Sarawak state.

The firm announced another offshore gas discovery in the area in January, at Hadrah-1in Balingian province. The success of the wildcat followed similar finds at Sirung-1 and Kulintang-1 last year.

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Woman engineer excels in oil and gas industry

April 15, 2022

Dateline 2022-03-07, The Borneo Post:

Having women in a male-dominated industry is an advantage to any organisations.

Senior Operations Support Engineer for Sabah Deepwater Operations (Gumusut Kakap and Malikai fields) of Shell Malaysia, Joyee Cheah said the nature of being a woman helps her contribute back to the largest natural gas producer in the country.

“I am leaning towards benefits of being a woman who tends to be a detailed person, a good listener, giving importance to your thoughts, able to provide a diverse perspective and contributions back to the team,” she said.

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Johor caretaker MB: State govt to ensure Muar becomes oil and gas hub

April 14, 2022

What now?

Dateline 2022-03-06, Malay Mail:

The Johor government wants to make Muar district located in the northern part of the state as an oil and gas (O&G) hub with the involvement of private investors.

Johor caretaker Mentri Besar Datuk Hasni Mohammad said the development, spanning a 920-hectare area, was set to be a game changer for the district.

There were also plans to turn Muar into Malaysia’s Furniture City, besides addressing the issues of illegal factories as well as raw materials supply for the furniture industry, he said.

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Minister: Soaring oil prices gives Malaysian govt room to continue fuel subsidies

April 13, 2022

Dateline 2022-03-06, The Malay Mail:

The soaring world crude oil prices currently gives some room to the government to continue providing fuel subsidies, says Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed.

However, he acknowledged that the price hikes due to the conflict between Russia and Ukraine would also see a rise in prices of other goods, especially imported items such as wheat and corn.

He said the government would continue to monitor the situation, adding that it would definitely pose a challenge to the country’s financial management.

“(The increase in oil prices) will increase revenue but some of the revenue will have to be channelled elsewhere. Estimates have not been made, but at the moment it only depends on assumptions.

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Aker Solutions says charge against manager Ahmad Hatta ‘groundless’

April 8, 2022

Dateline 2022-02-18, The Edge:

Norway-based Aker Solutions’ Malaysian operating unit Aker Solutions Malaysia Sdn Bhd said on Friday the oil and gas support services group considers the charge on Friday against Aker Engineering Malaysia manager Ahmad Hatta Kamaruzzaman, who is accused of giving false material information to the Companies Commission of Malaysia, as “groundless”.

In a statement, Aker Solutions Malaysia said the group remains committed to cooperating with local authorities in the countries where its operates.

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COLUMN | IT’S ALL COMING BACK TO ME NOW: SAPURA ENERGY

April 7, 2022

Dateline 2022-03-21, Baird Marine:

After looking at the ignominious end of Swire Pacific Offshore, the offshore supply vessel owner sold for a pittance to rival Tidewater (here), we turn our attention this week to another troubled Asia offshore powerhouse: Sapura Energy.

Here’s another business that has run out of room to manoeuvre.

The biggest but maybe not the best
Sapura is the biggest offshore construction company in Asia, the biggest rig owner in Asia outside of China, and a significant domestic producer of oil and gas in Malaysia via a joint venture with Austria’s OMV.

The company owns a swag bag of offshore construction assets, including its flagship Sapura 3500 DP3 derrick lay barge, plus five other derrick lay vessels, three fabrication yards in Malaysia, including Labuan Shipyard, a DP subsea construction vessel (117m LOA Sapura Constructor), three dive support vessels, two anchor handlers, six accommodation vessels including the 300-passenger, eight point moored Sarku-300, which is being advertised for sale), five ROVs, a launch barge, and two survey vessels. Sapura also owns a fifty per cent stake in a deepwater pipelay company in Brazil in conjunction with Seadrill, which owns six magnificent Dutch-built flexlay construction vessels there, each fitted with 250-tonne, active heave compensated cranes rated for 3,000 metres of water depth (here).

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Random Promo – Loving Reaper

April 6, 2022

Disclaimer – I have no financial interest, I am a Patreon backer of the author, Jenny Jinya.

Have a look at her work at Loving Reaper, and see if it doesn’t tug your heartstrings if you have any joy in pets and animals. Buy her hardcopy compilation.

https://www.instagram.com/p/CXrWXKnqCmL/

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Malaysia’s Sapura Energy served with ‘winding up petitions’ for five key subsidiaries

April 4, 2022

May we have some words from the current leadership, one of which is from an NOC, which is still tindasing us small fry?

Dateline 2022-02-15, Upstream Online:

Cash-strapped Malaysian offshore engineering and construction player Sapura Energy has been served with “winding-up petitions” for several subsidiaries that involve outstanding claims from vendors and other service companies.

In signs of deepening financial trouble, Sapura informed the Bursa stock exchange on Monday about the predicament of five of its wholly owned subsidiaries.

Those served with petitions include Sapura Fabrication Sdn Bhd, Sapura Project Services Sdn Bhd, Sapura Subsea Services Sdn Bhd, Sapura Offshore Sdn Bhd and Sapura Pinewell Sdn Bhd, the company said in an announcement to the stock exchange.

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