Singaporean cars can’t buy RON 95 fuel in Malaysia, but what about diesel, which is also subsidised?

July 13, 2022

For the love of Gentleminions, put subsidies into public transport, and other public utilities.

Dateline 2022-05-17, pualtan.org:

The reopening of the Malaysia-Singapore land border on April 1 saw no shortage of traffic heading into the country, and with it, plenty of reports of Singaporean motorists refuelling with RON 95 petrol at Malaysian fuel stations during the first week of the reopening.

This action is of course not allowed, as foreign-registered vehicles (including motorcycles) are prohibited from buying RON 95 – which is heavily subsidised by the Malaysian government – under a ban that has been in place since August 1, 2010.

…

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

Explain RM2.7bil injection into Sapura when you were govt, Najib tells PH

July 9, 2022

Man, I missed a good fight in May, shades of (no, not dirty white) Rumble in the Jungle.

Dateline 2022-05-15, FMT:

Former prime minister Najib Razak wants Pakatan Harapan (PH) to explain why it pumped RM2.7 billion into Sapura Energy Bhd (SEB) in 2019, despite knowing that its former CEO Shahril Shamsuddin was given a huge compensation the year before.

He was referring to the amount injected into the company by Perbadanan Nasional Bhd that made the GLC the largest shareholder in the oil and gas company.

…

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

Sarawak in talks with Norway to form sovereign fund, says Abang Johari

July 8, 2022

Ah, another 1MDB, which used to be a Terengganu sovereign fund. Book those URLs now, ladies.

Dateline 2022-05-13, The Edge:

Sarawak will engage seriously with Norway in an earnest effort towards the successful formation and management of its own sovereign wealth fund, Sarawak Premier Tan Sri Abang Johari Tun Openg said.

Given the widely acclaimed success of Norway’s sovereign wealth fund that had been managed with the highest standard of governance since its inception in 1996, it is a standard Sarawak needs to benchmark on, he pointed out.

…

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

Taking over Sapura Energy will depend on financial situation, says Tok Pa

July 7, 2022

Wait, what? PETRONAS is proposing this? What about our fabrication yards?

Dateline 2022-05-14, FMT:

The government must look at the country’s financial performance before considering the proposal for Petroliam Nasional Bhd (Petronas) to take over Sapura Energy Bhd (Sapura Energy) to prevent the oil and gas company from going bankrupt.

Economic affairs minister Mustapa Mohamed said careful consideration must be taken as the oil and gas industry is a strategic industry and taking into account that Sapura Energy is the world’s second largest integrated oil and gas service provider.

…

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

Petronas-Aramco refinery in Malaysia restarts after 2-year closure: source

July 6, 2022

Dateline 2022-05-11, Arab News:

 A 300,000 barrel-per-day refinery-petrochemical complex in Malaysia run as a joint venture between Petronas and Saudi Aramco has restarted after a more than two-year closure, a source with knowledge of the matter said.

The complex in Pengerang, Johor, is resuming operations at a time when refining margins in Asia are at record levels, buoyed by a fuel demand recovery as more economies across Asia, except for China, ease COVID-19 restrictions.

…

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

Petronas-Aramco refinery in Malaysia restarts after 2-yr closure – source

June 17, 2022

Dateline 2022-05-12, Reuters:

A 300,000 barrel-per-day refinery-petrochemical complex in Malaysia run as a joint venture between Petronas and Saudi Aramco has restarted after a more than two-year closure, a source with knowledge of the matter said.

The complex in Pengerang, Johor, is resuming operations at a time when refining margins in Asia are at record levels, buoyed by a fuel demand recovery as more economies across Asia, except for China, ease COVID-19 restrictions.

…

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

Cover Story: Petronas seeks to clear the air

May 24, 2022

And PETRONAS will give lip service, no? I don’t see rates going up.

Dateline 2022-04-28, The Edge:

…

While most of the news was positive, there were also allegations made by the Malaysian Oil & Gas Services Council (MOGSC) and Malaysia OSV Owners’ Association (MOSVA) that Petronas had been squeezing them to cut corners and, as a result, the national oil company generated huge profits at the expense of O&G players.

Both MOGSC and MOSVA wrote to Petronas in February, stating their grouses. The Edge, which was given a copy of their letters, ran a story on the issues raised by the two organisations last month.

…

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

My Say: Cyber risks in Malaysia’s oil and gas industry

May 23, 2022

Dateline 2022-04-28, The Edge:

There are two fronts in the Russian invasion of Ukraine: one is the physical fighting and airstrikes and the other is in cyberspace, where cybersecurity experts are battling disinformation, psychological warfare and cyberattacks. Cyberattacks of this nature can and have led to power outages, railway disruptions, interruption of electoral polling systems and, in the case of the war in Ukraine, a disruption of its biggest fixed-line telecommunications network and the ever-present threat of a cyber catastrophe.

The oil and gas (O&G) industry is not immune to these kinds of vulnerabilities. The May 2021 Colonial pipeline hack in the US not only compromised the business’ networks and shut down its operations but also deprived the East Coast of a pipeline that supplied nearly half the region’s fuel. Russia’s invasion of Ukraine on both the physical and cyber fronts have exacerbated fears of future cyberattacks by malicious actors on critical energy infrastructure to gain financial, criminal or geopolitical advantage. Findings from the State of Ransomware 2021 revealed that 43% of energy, O&G and utility firms have admitted to paying ransom for ransomware assaults. Another 23% of these firms expect to be affected by ransomware in the future.

…

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

Malaysia’s Petronas sees higher demand as focus turns to energy security

May 22, 2022

Dateline 2022-04-27, Zawya:

Malaysian state energy firm Petronas is seeing growing demand for gas as the world lifts COVID-19 restrictions and prioritises energy security due to Russia’s invasion of Ukraine, its chief of upstream operations told Reuters on Wednesday.

Petronas, the world’s fourth-biggest producer of liquefied natural gas (LNG), has seen high demand from Europe, Japan and South Korea since last year, said Adif Zulkifli.

“We are producing the maximum that we can now. There’s a lot of requests for more cargoes in Bintulu,” said Adif, referring to Petronas’ massive LNG complex in the eastern state of Sarawak.

“To increase production is not as easy,” because of under-investment in recent years, he said.

…

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

Govt to kick off 15 initiatives this year to grow OGSE industry

May 20, 2022

Hahahahahaha.

Dateline 2022-04-26, The Edge:

The Economic Planning Unit (EPU) and Malaysia Petroleum Resources Corporation (MPRC) plan to kick off 15 initiatives this year under the National Oil & Gas, Services and Equipment (OGSE) Industry Blueprint 2021-2030.

Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said the 15 initiatives, aimed at strengthening and growing the OGSE industry, will continue to address systemic issues confronting the sector, specifically in the areas of technology, talent, and funding.

“EPU, alongside MPRC, will continue to work closely with ministries, agencies, Petronas, industry players and relevant stakeholders to realise the vision and goals set out in the OGSE blueprint,” he said at the second steering committee meeting for the blueprint.

…

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

« Previous Entries
Next Entries »