Dateline 2021-01-04, Market Screener:
Malaysia’s state energy firm Petronas said on Monday it expects to resume full production at its Baram facilities, off the state of Sarawak on Borneo island, in the third quarter after halting output in October following an accident.
Petronas declared force majeure at its Miri crude oil terminal on Oct. 29 as a result of the ship collision on Oct. 27 at the Baram field, a company spokesman told Reuters.…
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Dateline 2020-12-30, FMT:
A former Malaysian employee of Norway’s largest oil services company Aker Solutions has sued the firm, saying it tried to stop her from speaking to authorities about its business practices, an accusation the company denies.
Seetha Kumarasamy, formerly a legal director with the firm, said in a Nov 20 Kuala Lumpur court filing seen by Reuters that Aker Solutions had sued her in 2018 to suppress evidence and prevent her from speaking out amid a corruption probe into the firm’s dealings with Petronas.
Aker Solutions, in a court filing last week, denied the allegation and accused Seetha of breaching her confidentiality obligations to the firm.
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I didn’t know you could do force majare on a grade. 2020 Uni grads, go find a lawyer!
Dateline 2020-12-24, The Edge:
Malaysia’s Petroliam Nasional Bhd (Petronas) has declared force majeure on two crude oil grades following production issues, four trade sources said yesterday.
The disruption to Miri and Cendor crude supplies has reduced Malaysia’s oil exports this month and supported spot prices in the region.
Miri crude production was reduced after a ship hit an oil production platform off Sarawak in late October, the sources said.
It was not immediately clear when Miri’s output could return to normal.
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Dateline 2020-12-19, The Edge:
On the 83rd floor of the Petronas Twin Towers last week, Tengku Muhammad Taufik Tengku Aziz, the president and CEO of Petroliam Nasional Bhd (Petronas), met up with The Edge for a two-and-a-half-hour session, the longest thus far any CEO of the oil company has had with us.
And the hours seemed to pass quickly with humorous exchanges and banter, but all questions were answered and peppered with facts on the oil company and its direction. It was a frank and good interview.
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Dateline 2020-12-02, The Borneo Post:
A plan is in the works to implement a gas distribution system for houses, commercial businesses and industries in Kuching and Samarahan.
Chief Minister Datuk Patinggi Abang Johari Tun Openg said the system will be similar to the piped gas grid the Gas Distribution Systems in Bintulu and Miri.
“This is something which cannot take place ‘kinek kinek’ (immediately). It takes time, it is in the planning stage. It is something I want to do but I cannot reveal (more details about it) yet.
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Dateline 2020-12-01, The Diplomat:
2020 has been a rough year for oil companies. In April, with the sudden stop in economic activity due to COVID-19 shutdowns, the price of U.S. crude fell to below zero for the first time in history. Oil companies were essentially forced to pay to store excess crude for a while, and with the global economy still reeling the rebound in demand has been sluggish. Still, the market price for crude bounced back pretty quickly, likely on hopes that this downturn will be short-lived. While it remains below its pre-pandemic price, it has recovered quite a bit since its April lows, with a barrel of West Texas Intermediate fetching $45.53 last week.
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Dateline 2020-11-30, Upstream:
The Chinese Coast Guard (CCG) and Royal Malaysian Navy have been involved in yet another standoff over oil and gas drilling in the South China Sea as tensions mount between regional powers over resources in the strategic sea area.
The CCG vessel 5402 in mid-November approached the Borr Drilling-owned jack-up Gunnlod, which is working for Thailand’s national upstream company PTTEP on Block SK 410B off Sarawak, East Malaysia, according to the Asia Maritime Transparency Initiative (AMTI) of the Center for Strategic & International Studies (CSIS).
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Dateline 2020-11-20, Energy Voice:
The eastern Malaysian state of Sarawak, home to the country’s LNG export complex, will soon open onshore acreage for bidding, as it hopes to revitalise its onshore oil and gas industry after taking regulatory control from the federal government.
Since the 1970s, significant oil and gas reserves have been discovered offshore Sarawak, which have helped supply one of the world’s largest LNG plants in Bintulu.
Although there has been significant exploration onshore since the 1980s, results have been modest. Still, Sarawak remains hopeful that new investment will help prove fresh commercial reserves by applying new technologies.
Moreover, Sarawak, after winning a recent battle against the federal government and Petronas for greater control of its natural resources, will now start offering onshore acreage through open auction, as well as direct negotiation. Two onshore blocks, covering the Miri and Limbang, as well as Lawas areas – SK 433 and SK 334 – will be open for bidding in the coming months, the state announced on 30 October 2020.
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Leave a Comment » | oil and gas | Tagged: bintulu, Lawas, Limbang, Sarawak, Sk334, SK433 | Permalink
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Can I join in, for old time’s sake? Us ex-Esso folks have some payback comin’.
Dateline 2020-11-17, The Edge:
SEVERAL local oil and gas (O&G) companies are understood to be interested in acquiring Exxon Mobil Corp’s assets in Malaysia, which are up for sale, but are said to be more comfortable forming consortiums to bid for these assets because of the hefty price tag of US$2 billion to US$3 billion (RM8.26 billion to RM12.39 billion).
A controlling shareholder of one of the larger companies says, “We are always on the lookout for assets, [but] no one company can go it alone [acquisition of Exxon Mobil’s assets], and no sensible management will make such a [risky] decision.”
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So, can I hold dual citizenship? Malaysia and Sarawak?
Dateline 2020-11-13, Malay Mail:
A committee has been formed to facilitate negotiations between the state government, the federal government and Petroliam Nasional Berhad (Petronas) to ensure greater participation of the state in the oil and gas sector, Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan said in the state assembly today.
He said negotiations on commercial solutions for the matter are still ongoing among the three parties.
“The state government is fully committed to taking control of the exploration and mining of oil and gas within the territorial boundaries of the state,” he said in his winding-up speech for the debate on the State Budget 2021.
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Leave a Comment » | Malaysian election, oil and gas | Tagged: Awang Tengah Ali Hasan, Petronas, Sarawak | Permalink
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Wata - Malaysian Oil and Gas Engineer 