Minister says RON95 subsidy nearly RM100m a week at current oil price

December 24, 2019

Why not subsidise, enforce and improve public transport? I think RM100m a week can go a long way to enforce rules, plus the sweet, sweet money from fines, penalties, product placement, and influencer endorsement.

Dateline 2019-10-15, Malay Mail:

The price ceiling for RON95 petrol required a subsidy of almost RM100 million per week at the prevailing oil price, said Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail.

“Concerning the weekly cost to maintain the price of RON95 petrol at RM2.08 a litre, the Finance Ministry estimates an amount of RM99.76 million is needed to maintain the retail price of RON95,” he said during Question Time at the Dewan Rakyat this morning.

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R&D push by govt comes at bearish time for oil & gas industry

December 23, 2019

I want some of that sweet, sweet money. My thesis is ‘stress testing the most popular websites on the internet’ (Dilbert reference here) and sadly, I’d probably get the money.

Dateline 2019-10-15, Malay Mail:

The research and development (R&D) push by the government comes at a time when the global oil and gas (O&G) industry is bracing for a bearish year in 2020, as supply and demand balances show persistent surpluses against a slowing global economy, Malaysia Petroleum Resources Corporation said.

Deputy chief executive officer Mohd Yazid Ja’afar said the US-China trade war is deepening and oil majors continue to demand for cost effective and low-carbon technologies.

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Oil royalty paid as before, Azmin tells Kelantan

December 22, 2019

Dateline 2019-10-15, Malay Mail:

The federal government has maintained the existing method for oil royalty payments to Kelantan, Economic Affairs Minister Datuk Seri Azmin Ali said.

He said the government has agreed for the funds to be channelled directly to state coffers and consistent with the Federal Constitution.

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Rakan Segari wants written guarantee on cancellation of refinery project

December 21, 2019

What refinery? Dateline 2019-10-13, Malay Mail:

Rakan Segari, a coalition of several non-governmental organisations (NGOs), is working with the fishing community and residents here in the hope of getting a written assurance from the state government that no oil refinery will be developed in Segari.

Its representative Meor Razak Meor Abdul Rahman, who is also Sahabat Alam Malaysia (SAM) researcher, said although Perak Mentri Besar Datuk Seri Ahmad Faizal Azumu had issued a statement, there was no guarantee it would not be built.

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Sabah, Sarawak to link up on oil and gas reserves

December 20, 2019

Aaaannd PETRONAS doesn’t come to the table?

Dateline 2019-10-14, FMT:

With strong reserves in natural gas and crude oil, Sabah and Sarawak are to strengthen their relationships in the oil and gas industry and capitalise on Indonesia setting up its new capital in Kalimantan, the chief ministers of the two states said today.

Sabah chief minister Shafie Apdal and his visiting Sarawak counterpart Abang Johari Openg said they were eager to solidify their working relationship in the oil and gas industry, which is crucial to both economies.

Shafie said the two states share common interests and could transform their social economies if they combined their strengths.

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A more progressive solution than fuel subsidy

December 19, 2019

Dateline 2019-10-14, FMT:

Domestic Trade and Consumer Affairs Minister Saifuddin Nasution Ismail has finally announced the targeted Petroleum Subsidy Programme (PSP), mooted almost a year ago.

In this scheme, RON95 petrol will be floated and Cost of Living Aid (BSH) recipients will receive between RM48 (for motorcycle owners) and RM120 (for car owners) every four months.

The move will cost the government approximately RM65.4 million a month or RM784 million annually.

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Dr M: The rich can’t take advantage of new targeted fuel subsidy scheme

December 18, 2019

Hahahaahahahahaha. Reaaaaalllly, 1MDB nation?

Dateline 2019-10-11, Malay Mail:

Tun Dr Mahathir Mohamad has commended the new Targeted Subsidy Programme (PSP) for petrol as it will ensure that only the correct group will receive the benefit.

Addressing a press conference after the tabling of Budget 2020 in Parliament today, the prime minister said that the RM30 fixed amount which will be deposited into the accounts of eligible car owners will ensure that the rich will not benefit from the subsidy.

“The subsidy’s fixed amount of RM30 is deposited into the accounts of car owners.

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Helium-filled balloons explode at fitness event in Putrajaya, 16 hurt

December 17, 2019

I put this in as a safety reminder, and a blatent example where in Malaysia, the press supports bad science and lack of fact checking. Please invite me to show you how helium can cause an enormous non-explosion.

Dateline 2019-10-12, Malay Mail:

There were anxious moments at Dataran Putrajaya this morning when helium gas inflated balloons used as props for a fitness event exploded, injuring 16 participants, including children.

Nine children and seven adults, some of whom were participants and the rest visitors, were hurt during the incident at the tail end of the Education Ministry’s 2019 National Sports Month event.

The victims, aged between four and their 30s, were rushed to the Putrajaya Hospital where some are still being treated at the Emergency and Trauma Department.

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Fuel subsidy programme to begin in January

December 16, 2019

Dateline 2019-10-12, The Star:

The RM2.2bil fuel Targeted Subsidy Programme (PSP) will be launched in January next year and is expected to benefit more than eight million motorists.

Finance Minister Lim Guan Eng said individuals who owned not more than two cars and two motorcycles were eligible to receive PSP for one vehicle.

The qualifying criteria is for the passenger car to have a 1,600cc engine and below or 1,600cc and above which is more than 10 years old.

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2020 Budget: RM2.2 billion for targeted fuel subsidy scheme

December 15, 2019

Dateline 2019-10-11, NST:

The government will allocate RM2.2 billion for the proposed Fuel Subsidy Programme (PSP), which is set to benefit more than eight million motorists nationwide.

Motorists in Sabah and Sarawak, meanwhile, will continue to enjoy a fuel price ceiling of RM2.08 per litre for RON95 and RM2.18 per litre for diesel, said Finance Minister Lim Guan Eng in his 2020 Budget speech today.

“Should the Sabah or Sarawak governments wish to participate in the PSP, the federal government is ready to accept the request.

“Individuals who own no more than two cars and two motorcycles are eligible to receive PSP for (only) one vehicle. All luxury vehicles will not qualify to receive the targeted subsidies,” he said.

He said the PSP will be launched in Peninsular Malaysia in January next year, with two eligible recipient categories.

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