Baru Bian concerned over Mulu, Baram gas pipe leak

March 16, 2020

Dateline 2020-01-13, Malay Mail:

Ba’Kelalan state assemblyman Baru Bian today expressed his concern at the latest report of a fourth leakage along the Petronas Sabah Sarawak Gas Pipeline (SSGP) which occurred between Long Kawa and Ba Selulung in Mulu, Baram yesterday evening.

“I am also equally relieved that no one was hurt in this major incident,” the federal works minister said.

He said he was informed that SSGP Block Valve 112 was shut down about 2am at dawn this morning, as pressure dropped at both upstream and downstream Block Valve 112, indicating pipeline leakage and rupture.

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Petronas says fire at east Malaysian gas pipeline under control

March 15, 2020

Dateline 2020-01-13, Reuters:

Malaysia’s state energy firm Petronas said on Monday that a fire on the Sabah-Sarawak Gas Pipeline in East Malaysia had been controlled.

The fire has been brought under control and Petronas “is closely monitoring the situation”, the company said in a statement.

A fire and rescue department official earlier reported that an explosion had taken place the 500-kilometre long pipeline on Sunday.

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Shell Presses Ahead with Malikai Phase 2

March 14, 2020

Dateline 2020-01-13, OE:

Oil giant Shell has made a decision to invest in the second phase of its Malikai deepwater development offshore Malaysia.

In an announcement on Monday, Shell’s Malaysian subsidiary Sabah Shell Petroleum Company, the operator of the Malikai Tension-Leg Platform (TLP) located offshore Sabah, said the second phase would involve the drilling of two additional oil-producing wells and four water injection wells to enhance Malikai’s expected recoverable oil volumes.

The company said the move was is part of Shell’s continued investment in the country’s deepwater potential, and was expected to contribute to Malikai’s production in the second quarter of 2021. The development deploys the same single-combo riser technology that was used for the first time during Malikai Phase 1. The company did not provide the financial details of the project.

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Sarawak green-lights oil exploration by state-owned Petros

March 13, 2020

Dateline 2020-01-13, Malay Mail:

The state government has issued a permit to state-owned Petroleum Sarawak Berhad (Petros) to undertake oil and gas exploration on-shore in the Miri and Limbang Divisions, Chief Minister Datuk Patinggi Abang Johari Openg said today.

He said the permit was issued in accordance with the Sarawak Land Code and the Federal Constitution.

“Oil and gas resources belong to Sarawak. It is our right to explore these resources,” he said at the launch of the “Sarawakku Sayang” programme here.

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Analysts offer retrospective on recent oil price hike

March 12, 2020

Dateline 2020-01-12, Malay Mail:

Oil prices have declined from recent highs and are now trading at levels more reflective of the market’s fundamentals as fears over the US-Iran conflict subside.

The global benchmark Brent crude ended last week down 45 cents at US$64.92 (RM264) per barrel, while West Texas Intermediate crude oil fell 52 cents to settle at US$59.04.

Most analysts believe the easing of military tension between both countries provided relief not only to global equities but also oil-importing countries.

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Repsol Weighs Potential Sale of Malaysian Assets

March 11, 2020

Dateline 2020-01-10, Rigzone:

Repsol SA is exploring options for its Malaysian upstream operations including a potential sale as the Spanish oil company reviews its global portfolio, according to people familiar with the matter.

The Malaysian assets could attract interest from other energy companies in the region, the people said, asking not to be identified because the matter is private. The asset review comes as Repsol is working on a new strategic plan, which is expected to be presented in the first half of the year.

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B20 biodiesel programme debuts in Langkawi

March 10, 2020

Dateline 2020-01-09, Malaysian Reserve:

THE B20 biodiesel programme has begun in Langkawi, Kedah, for the transportation sector beginning Jan 1, 2020, said Primary Industries Minister Teresa Kok (picture).

In a statement yesterday, Kok said the next state or federal territories to implement the B20 programme is Labuan, Sabah, which will also be introduced this month.

“We would like to announce that Langkawi has begun using the B20 biodiesel blend of methyl ester for the transportation sector.

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2010 > 2019: Decade of Disruption – Oil and gas — a tale of two extremes

March 9, 2020

The maths in the title is atrocious. Par for interns?

Dateline 2020-01-06, The Edge:

THE 2010s have certainly been volatile for the oil and gas sector. The first half presented the best years in the business, followed by one of the largest oil price shocks in modern history, which humbled the industry into accepting the “lower for longer” prices seen today.

Two narratives pushed crude oil prices to two extremes: few predicted that the US’ venture into shale oil would propel the country back onto the top producers list, and the response of market leader Saudi Arabia to this development that shook the industry.

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Oil & gas contract awards set to recover this year

March 8, 2020

Dateline 2020-01-05, The Sun:

Contract awards for the oil & gas sector are expected to recover after a decline in Q4 2019, said AmInvestment Research (AmResearch).

Malaysia’s 2019 contract awards slid 6% year-on-year (yoy) to RM11.5 billiion due to slower order flows in Q4, which fell 35% quarter-on-quarter (qoq) and halved yoy to RM2.2 billion.

This followed multiple awards to Sapura Energy, Malaysia Marine & Heavy Engineering Holdings (MMHE) securing a RM2.5 billion Kasawari central processing platform job and Bumi Armada’s 30% stake in ONGC’s KG-DWN 98/2 FPSO charter in the previous quarter.

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Postponement of Petrol Subsidy Programme generates mixed reaction from economists

March 6, 2020

Dateline 2020-01-04, Malay Mail:

The decision by the government to postpone the implementation of the Petrol Subsidy Programme (PSP) this month has elicited mixed reaction from economists.

The postponement was to enable briefing sessions to be continued to create awareness and prepare the public for the implementation of the programme, according to the Domestic Trade and Consumer Affairs Ministry.

The ministry in a statement dated December 30, 2019, said its decision would provide time for the registration of subsidy beneficiaries, which will be undertaken by the Finance Ministry.

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