Petronas sees positive outlook for next three years on oil price recovery, pandemic SOP relaxation

March 10, 2022

Ah, what about the effect of Malaysia’s shrinking population to pandemic kills? And this is just the NOC? How about paying industry living wages? Seen the pay of your (and mine) cleaning staff lately?

Dateline 2021-12-28, The Edge:

Petroliam Nasional Bhd (Petronas) said on Tuesday (Dec 28) it expects a positive outlook for 2022 to 2024 for the national oil company on a recovery in crude oil prices, as well as relaxation of Covid-19 standard operating procedures (SOPs) and directives besides an increase in plug and abandonment projects for planned retirement of oil and gas wells.

Petronas said the information in its latest activity outlook report, which covers 2022 to 2024, is accounted for when a specific activity begins and not by contract award.

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Random Promo – Bichi Mao

March 9, 2022

Disclaimer – I have no financial interest, I am a Patreon backer of the artist, Bichi Mao.

Have a look at their work see if it doesn’t tug your heartstrings. Purch their merch.

Everything has its own priority, when you reach animals and have the means, please manage pet breeding, support trap, neuter and release programs and your local animal shelter.

http://nstagram.com/p/CY_wSkMP1Gv/

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Posted by Wata

Strong petrochemicals demand drives project starts in Malaysia

March 8, 2022

Did they take this wholesale from PETRONAS’ outlook?

Dateline 2021-12-28, Hydrocarbon Engineering:

Malaysia is likely to witness start of operations of 31 petrochemicals projects from 2021 to 2025 driven by robust demand for petrochemicals, according to GlobalData.

GlobalData’s ‘Global Petrochemicals New-Build and Expansion Projects Outlook, 2021-2025’ report reveals that out of 31 projects expected to commence operations in Malaysia, polyethylene projects would be at three, followed by polypropylene and benzene with two each.

Bhargavi Gandham, Oil & Gas Analyst at GlobalData, comments: “Petrochemicals consumption is on the rise in Malaysia leading to supply-demand mismatch. This is leading to growth in investments and establishments of joint ventures to boost petrochemicals capacity in the country.”

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EnQuest ordered to pay Malaysian contractor $17.1 million

March 6, 2022

Dateline 2022-01-04, Upstream:

UK company EnQuest has been ordered to pay Malaysian contractor Barakah Offshore Petroleum nearly 71.6 million ringgit ($17.1 million) following an adjudication claim over offshore works.

Barakah launched legal action against EnQuest’s Malaysian subsidiary last year in relation to work carried out by Barakah under a 2018 letter of award for the provision of the Pan Malaysia Maintenance, Construction & Modification (PM-MCM) contract EN17051.

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Malaysia’s Petronas, Sabah state launch masterplan for gas development

March 5, 2022

Dateline 2022-01-04, Channel Asia:

Malaysia’s state oil firm Petronas and the resource-rich state of Sabah on Tuesday (Jan 4) launched a masterplan to develop the state’s natural gas resources, including the construction of a liquefied natural gas (LNG) plant.

The Sabah Gas Masterplan is the result of a joint study between the state and Petronas, both parties said in a joint statement.

It entails the construction of an LNG plant with a capacity of 2 million tonnes per annum (MTPA) at the Sipitang Oil and Gas Industrial Park, which will provide opportunities for Sabah to expand its LNG distribution across the state, they said.

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Posted by Wata

Random Promo – Loving Reaper

March 3, 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.

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Posted by Wata

Shout Out – MOGEC 2022-03

March 3, 2022

📢 1 week to go ! 🤩
📢 Book your seat before closing date ! 🤩

*Book your seat for MOGEC webinar by Ms Chin Foong Ling from ERM *

Title: Climate Change Risk and Net Zero Action
Date: 10th March 2022 (Thursday)
Time: 3.00pm
Platform: MS Teams

Free admission for MOGEC member
Rm40 for Non Member

To register for the webinar, kindly fill up the registration form at this link -> https://tinyurl.com/MOGECMAR

Thank you

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Posted by Wata

Random Promo – Bichi Mao

March 2, 2022

Disclaimer – I have no financial interest, I am a Patreon backer of the artist, Bichi Mao.

Have a look at their work see if it doesn’t tug your heartstrings. Purch their merch.

Everything has its own priority, when you reach animals and have the means, please manage pet breeding, support trap, neuter and release programs and your local animal shelter.

https://www.instagram.com/p/CZKKGwxPKR7/

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

Malaysia’s Petronas awards six upstream exploration blocks

February 28, 2022

Dateline 2021-12-22, Energy Voice:

Malaysia’s Petronas has awarded six of the 13 offshore exploration blocks offered in the recently concluded Malaysia Bid Round (MBR) 2021.

The six blocks, awarded to both existing and new players, are Blocks SB412, 2W, X, SK427, SK439 and SK440. These awards are subject to the signing of the production sharing contracts (PSCs) between the relevant parties by the first quarter of 2022, Petronas said today.

The MBR 2021 themed “Grow Your Energy Portfolio With Us” was virtually launched on 26 February 2021, with over 250 potential and existing investors streaming live from North America, Europe and Asia Pacific.

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Malaysia’s Petronas says COVID-19 variants to keep oil demand uncertain

February 27, 2022

What are we recovering from? Are we O&G supplicants hoping that the world will continue consuming carbon based fuels like there is no Kyoto Protocol?

Dateline 2021-12-28, Reuters:

Malaysia’s state energy firm Petronas said on Tuesday that it anticipates recovery in oil demand from the impact of the coronavirus pandemic to remain fragile and uncertain in the next few years.

The industry was optimistic about economic recovery but remained cautious and needed to be ready to face oil price volatility, Petronas said in its activity outlook report for 2022-2024.

“The path towards sustained oil demand recovery remains fragile and uncertain due to the emergence of new COVID-19 variants that trigger fresh waves of lockdowns,” the custodian of Malaysia’s petroleum resources said.

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