Saudi Aramco stands by Malaysia mega-refinery, Petronas says

November 19, 2019

Dateline 2019-09-20, Nikkei Asian Review:

Malaysia’s state oil company Petronas said on Friday that recent attacks on a key Saudi oil facility will not affect Saudi Aramco’s $7 billion investment in a refinery complex in the southern state of Johor.

Saudi Aramco acquired a 50% stake in the Rapid project’s refinery and cracker plants in 2017, agreeing to supply up to 70% of the crude feedstock for the refinery operations, which are scheduled to begin commercial production later this year.

“We do not foresee any impact on supplies to Rapid from Saudi Aramco,” Petronas President and CEO Wan Zulkiflee Wan Ariffin told reporters in Kuala Lumpur.

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Malaysia’s Petronas says Q2 profit rises 8%

November 18, 2019

Dateline 2019-09-20, Reuters:

Malaysia’s state-owned energy firm Petroliam Nasional Bhd reported an 8% increase in second-quarter profit on Friday because of a weaker Malaysian ringgit, though that was partially offset by higher product costs.

Petronas, as the company is known, said profit after tax for April-June rose to 14.7 billion ringgit, up from 13.6 billion ringgit ($3.25 billion) in the same period a year earlier.

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Malaysia’s Petronas sees tough times ahead despite higher oil, LNG sales

November 17, 2019

Dateline 2019-09-20, S&P Global:

Petronas said Friday that rising sales of petroleum products and LNG helped the state-run Malaysian firm post profit and revenue growth in the first half of 2019, but warned that ongoing trade tensions, sluggish demand and slowing global growth could pose challenges in the second half.

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Malaysia’s Petronas says Q2 profit rises 8%

November 16, 2019

Dateline 2019-10-20, Reuters:

Malaysia’s state-owned energy firm Petroliam Nasional Bhd reported an 8% increase in second-quarter profit on Friday because of a weaker Malaysian ringgit, though that was partially offset by higher product costs.

Petronas, as the company is known, said profit after tax for April-June rose to 14.7 billion ringgit, up from 13.6 billion ringgit ($3.25 billion) in the same period a year earlier.

Revenue at the firm decreased marginally to 59.1 billion ringgit from 59.2 billion ringgit, mainly due to lower average realised prices for petroleum products and liquefied natural gas. ($1 = 4.1790 ringgit) (Reporting by Rozanna Latiff; editing by Christian Schmollinger)

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End of Malaysia’s old PPA regime

November 15, 2019

I say, sustainable batteries is the new wave.

Dateline 2019-09-19, Borneo Post:

KUCHING: The possibility of a 10-year masterplan to reform the domestic power industry called MESI 2.0 will spell the end of the Power Purchase Agreement (PPA) era.

Although there is still lack of details, the Energy, Technology, Science, Climate Change and Environment Minister Yeo Bee Yin did reveal some insights during a briefing.

Affin Hwang Investment Bank Bhd (AffinHwang Capital) said there will be drastic changes to the PPA for new power plants, as the government intends to shorten the tenure of a PPA from the typical 21-years previously.

“The new PPAs will also no longer be entitled to lock-up guaranteed electricity payments, as moving forward, independent power producers (IPPs) are able to procure their own fuel source, and the single buyer would then in theory procure electricity from the cheapest generator.

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Maritime pilots claim LNG terminal near cruise port dangerous

November 14, 2019

May I suggest that perhaps that the safety report wasn’t read or couldn’t be bothered to be read by some stakeholders?

Dateline 2019-09-13, Malay Mail:

The Maritime Pilots of Malaysia (MPM) organisation is concerned that the planned Liquefied Natural Gas (LNG) terminal at Pulau Indah, Port Klang is a violation of public and port safety due to its location near a cruise ship terminal.

Its president and chairman Martin Lim said that while it lauded the government’s efforts in bringing in investment of the LNG terminal and storage facility, the nature of the development needed more consideration due to its hazardous nature.

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Dive Tenggol 2019-10 1 of 3

November 13, 2019
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About half of new gas resources to be kept as feedstock, says Sarawak CM

November 12, 2019

Dateline 2019-09-11, FMT:

About 40℅ to 50% of new findings of gas resources in Sarawak must be retained as feedstock for gas- related industries in the state, Sarawak Chief Minister Abang Johari Openg said today.

He said this was to ensure Sarawak had sufficient gas feedstock to drive downstream activities of the natural gas industries in Sarawak, particularly the petrochemical industries.

Abang Johari announced this during the launch of Sarawak’s first methanol plant – Sarawak Petchem – at Tanjung Kidurong in Bintulu here, today.

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Sapura-OMV venture expects East Malaysian gas field output by year-end

November 11, 2019

Dateline 2019-09-06, Reuters:

A joint venture between Malaysia’s Sapura Energy and Austrian energy group OMV will achieve first production at an East Malaysian gas field in the fourth quarter of the year, the business said on Friday.

SapuraOMV, the joint venture, holds a 40 percent stake in the SK408 block, while a unit of Malaysian state energy company Petronas and a subsidiary of Shell hold 30 percent each.

Peak production from the block will be achieved by 2023, SapuraOMV’s chief executive, Muhammad Zamri Jusof, told reporters.

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Malaysia’s PrefChem offers gasoil cargo for September

November 10, 2019

History, I know.

Dateline 2019-09-04, Reuters:

Malaysia’s Pengerang Refining and Petrochemical (PrefChem), a joint venture between Petronas and Saudi Aramco, has offered 300,000 barrels of gasoil for a mid-September loading, two industry sources said on Wednesday.

The cargo would load Sept. 12-14, the Singapore-based sources said, with the tender closing on Wednesday.

This is one of the first gasoil cargoes coming out of PrefChem, trade sources said, after the refinery restarted a crude distillation unit (CDU) last month.

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