Petronas, Hess said agreed to amend gas sale agreement

July 14, 2021

Dateline 2021-06-07, The Edge:

Petroliam Nasional Bhd (Petronas) and US-based Hess Corp’s subsidiary Hess Malaysia are said to have agreed to amendments made to their existing upstream gas sales agreement (UGSA) to include the sale and purchase of gas produced from the North Malay Basin (NMB) oil and gas field located offshore Peninsular Malaysia.

In a statement today, Hess Corp said the UGSA governs the sale and delivery of gas from the NMB project to Petronas and helps Hess Corp meet its supply and sale commitments in Peninsular Malaysia.

Zhiyong Zhao, vice president of Hess Asia, said in the statement: “The amended UGSA delivers access to new gas supplies that are critical to Malaysia’s economic prosperity and energy security.”

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Repsol Sells E&P Assets in Malaysia, Vietnam to Hibiscus Petroleum

July 13, 2021

Dateline 2021-06-01, Offshore Engineer:

Spanish oil company Repsol is set to sell its oil and gas exploration and production assets in Malaysia and in Block 46 CN in Vietnam to Malaysia-based Hibiscus Petroleum for an undisclosed fee.

Repsol said that the sale of its upstream assets in Malaysia and in Block 46 CN in Vietnam supported its plan to reduce its presence from 25 to 14 core countries.

Repsol said it was concentrating its upstream activity on 14 key projects centered around producing basins and executed through lean modular development, prioritizing value over volume.

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Petronas chases new gas reserves as it gears up Malaysia drilling campaign

July 11, 2021

Dateline 2021-06-01, Upstream:

Malaysia’s national upstream company Petronas Carigali is forging ahead with field development work offshore East Malaysia, where it will bring on stream new gas reserves later this year.

Petronas as early as this week is set to start the development drilling campaign for its Bakau non-associated gas (NAG) development offshore Sarawak.

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Shout Out – IEM Chillax 2021-07

July 9, 2021

You gotta attend. Ir. Abdul Razak Yakob will be chillin’.


WEBINAR – “Sembang Chillex Kejuruteraan Bersama IEM”
Venue:Digital Platform
Date & Time:10 Jul 2021 (2:00 PM – 5:00 PM)
CPD/PDP:0
Organised By Standing Committee on Activities
The “Sembang Chillex Kejuruteraan bersama IEM” (https://youtu.be/hYq8fLkXtYc) Series aims to:

•    promote engineering as a profession to young Malaysians
•    inform the public about the engineering profession and availability of various disciplines in Malaysia
•    inform the public on differences in the work of the engineers, engineering technologists, and engineering technicians
•    guide the young Malaysians to choose the suitable engineering discipline aligned to their interest
•    provide the guidance on how to check the accreditation status of the institute of higher learning (IHL) and its programs for the student’s engineering interest
•    encourage students to take up Science and Mathematics so that they can join the engineering profession

The first session of this Series would focus on:
•    Choosing Engineering as a Profession
•    Choosing an engineering discipline

Meet our Panel:
* Moderator – Ir. Fam Yew Hin (Mechanical Engineer)
Panelists:
* Ir. Ts. Dr M. Dewika Naidu (Chemical Engineer)
* Ir. Yau Chau Fong (Electrical Engineer)
* Ir. Rusnida bt Talib (Civil Engineer)
* Ir. Abdul Razak bin Yakob (Petroleum Engineer)

Register the next generation here! https://www.myiem.org.my/events/eventregistration.aspx?id=18391

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Malaysia fresh lockdown hit on petrochemical ops likely limited

July 9, 2021

Dateline 2021-05-31, ICIS:

Malaysia will go on a nationwide lockdown for two weeks from 1 June, but petrochemical production will continue and is likely be spared from any major disruption given its classification as an essential sector.

For some local downstream plastic manufacturers, however, the lockdown may cause a manpower crunch.

The lockdown was announced on 28 May, following a sharp rise in new coronavirus cases in the country, with only essential economic sectors and services allowed to operate.

“This decision was made after taking into account the current situation of the COVID-19 outbreak in Malaysia, with daily cases surpassing 8,000 and over 70,000 active cases,” Malaysian Prime Minister Muhyiddin Yassin said.

The country reported five straight days of record hikes in coronavirus cases, with overall infections at more than 565,500 with 2,729 deaths as of 30 May, according to health ministry data.

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Posted by Wata

Malaysia fresh lockdown hit on petrochemical ops likely limited

July 7, 2021

Dateline 2021-05-31, ICIS:

Malaysia will go on a nationwide lockdown for two weeks from 1 June, but petrochemical production will continue and is likely be spared from any major disruption given its classification as an essential sector.

For some local downstream plastic manufacturers, however, the lockdown may cause a manpower crunch.

The lockdown was announced on 28 May, following a sharp rise in new coronavirus cases in the country, with only essential economic sectors and services allowed to operate.

“This decision was made after taking into account the current situation of the COVID-19 outbreak in Malaysia, with daily cases surpassing 8,000 and over 70,000 active cases,” Malaysian Prime Minister Muhyiddin Yassin said.

…

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Shout Out – 2021-07 AER Going Global With MATRADE’S SEF

July 5, 2021

I’m the MC for this presentation, so expect PG-15, innuendos and double enders. The event will be at 11am, 6th July, online

You can join here: https://docs.google.com/forms/d/e/1FAIpQLSfLf1JgtdsfFoj-CKgg2F5BQFNT9bed_b8hZ0SgnEVNK4SMig/viewform

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Malaysia: Offshore supply vessels in illegal STS oil transfer at Kemaman; arrested

July 2, 2021

It says offshore supply vessels, but not obvious in the text. Clickbait?

Dateline 2021-05-27, Manifold Times:

The Malaysia Maritime Enforcement Agency (MMEA, or Malaysian Maritime) on Tuesday (25 May) said it has arrested two offshore supply vessels over an illegal ship-to-ship (STS) oil transfer operation at the waters around Kemaman port.

A MMEA patrol boat detected the two ships approaching each other in a suspicious condition around 3.4 nautical miles from Kuala Kemaman and an arrest was made to the parties at 11.30am (local time) on Monday, said Kemaman Maritime Zone Director, Maritime Commander Rashidilhadi bin Abd Rashid.

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Did China Just Sound The Death Knell For Venezuela’s Oil Industry?

July 1, 2021

There’s a Malaysian twist here, just hold your horses.

Dateline 2021-05-21, Oilprice:

China has announced that it will impose taxes on heavy sour crude, a move that could hit Venezuela hard as it continues to struggle with U.S. sanctions and a dilapidated oil industry. Media reports suggest as many as 400,000 bpd of Venezuelan oil could be orphaned as new Chinese tax laws make it impossible for the country to export its crude to Asia. New regulations expected to come into place on June 12 would make the profit margins on Venezuelan oil too low to warrant its current export route.

Venezuela has not been exporting oil directly to China since 2019, largely due to the U.S. sanctions that continue to restrict the country’s oil exportation. However, China has been importing Venezuelan oil via Malaysian refineries, where it is mixed with fuel oil or bitumen before continuing on to China. China’s new rules could add around $30 per barrel to this “diluted bitumen”, making it economically inviable. Light cycle oil (LCO) and mixed aromatics will also be taxed under the new scheme.

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Amid rising ESG pressure, Malaysia prepares oil and gas firms for green economy (subscription required)

June 29, 2021

Dateline The Business Times, 2021-05-21:

AS a major energy exporter, Malaysia is taking steps to help oil and gas companies transition to a low-carbon economy at a time when investors and consumers increasingly demand cleaner energy and climate action.

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