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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Minister: Malaysia set to maximise green industry, renewable energy potential in 2020

March 5, 2020

Dateline 2020-01-03, Malay Mail:

Malaysia is set to maximize the potential of its green industry and renewable energy sector in 2020 to attain its objective of becoming South-east Asia’s green technology hub in the near future.

The commitment was spelt out by Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin who is determined to drive Malaysia to become a leader in the industry.

“We have done a lot about the renewable energy and green industry because we have a very clear target to achieve,” she said.

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Petronas Mulls Global Bond Sale After Five-Year Hiatus

March 4, 2020

Dateline 2020-01-03, Bloomberg:

Petroliam Nasional Bhd., Malaysia’s state-owned oil company, is considering selling global bonds for the first time in nearly five years, according to people with knowledge of the matter.

Petronas, as the company is known, asked banks to submit pitches for the proposed dollar-denominated, benchmark-sized bonds last month and is expected to pick advisers soon, said the people, asking not to be identified as the discussions are private.

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More oil and gas contracts for Malaysian players in Q1 2020: Report

March 3, 2020

Dateline 2020-01-03, Business Times:

MALAYSIAN oil and gas service providers can expect contract awards to improve in the first three months of the new year, compared with the decline in 2019 – on the back of not just seasonal lumpiness in the first and fourth quarters, but also momentum from longer-term projects.

That’s according to a recent report by AmBank analyst Alex Goh, who noted that Saudi Aramco has picked Sapura Energy and Malaysia Marine & Heavy Engineering Holdings for its long-term agreement programme – opening up the field to offshore projects in Brazil, Mexico, the Middle East and West Africa that may be worth as much as US$150 billion over the next decade.

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As 2020 comes a-knocking, whither Malaysia’s nuclear power plan?

March 2, 2020

Dateline 2020-01-03, Malay Mail:

Whatever happened to Malaysia’s plan to have our own nuclear plants by 2030?

As the year 2020 approaches, I for one cannot help but notice how this project has yet to see the light of day.

The plan was first introduced in 2012, and was led by the Malaysia Nuclear Power Corporation (MNPC) that was established a year prior.

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Sarawak’s oil for Sarawak

March 1, 2020

Dateline 2019-12-26, FMT:

Suarah Petroleum Group (SPG) would like to refer to the various statements by the CEO of Petronas, Wan Dzulkiflee Wan Ariffin, and Prime Minister Dr Mahathir Mohamad, as reported recently.

SPG reiterates the bigger picture that our stance, and we believe that of the Sarawak government as well, is based on the inequitable distribution of wealth and continuing poor management of Sarawak’s oil and gas resources that is the genesis of the situation which now manifests in our current disagreement with the federal government and Petronas.

To say or imply in any way that Sarawak’s demands are driven by short-term objectives or simply wanting larger royalty now is an over-simplification and misinformation that certain parties have put forward to mask the genuine and legitimate concerns of Sarawak that underpin SPG’s and the Sarawak government’s position.

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Sarawak CM: Petros to manage domestic gas business under Petronas soon

February 29, 2020

Dateline 2020-12-24, Malay Mail:

Chief Minister Datuk Patinggi Abang Johari Openg today said that Petroleum Sarawak Berhad (Petros) will soon be tasked with managing a domestic gas business that is now placed under the Petroliam Nasional Berhad (Petronas).

He said Petros, apart from being vested with the regulatory power over state’s oil and gas resources by the Oil Mining Ordinance 1958, is to ensure the state’s participation in the upstream and downstream activities of the oil and gas industry.

“The next few years will see more involvement of Petros as more investments are expected in the oil and gas and petrochemical industries in the state,” he said in his Christmas Eve’s message.

The chief minister also stressed that the state will continue to introduce new revenue streams to fund its development programmes.

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PETRONAS to develop four marginal fields

February 28, 2020

Jom, let’s have bids by a kampung or daerah cooperative. 1HLDB anyone?

Dateline 2019-12-24, The Edge:

PETROLIAM Nasional Bhd (Petronas) has launched a new licensing round for four marginal field clusters, with the bidding process open from October 2019 to May 2020, according to the national oil firm’s Activity Outlook 2020-2022.

Described as discovered resources opportunities (DRO) clusters, they are the Diwangsa and Rhu-Ara shallow water clusters located off the shores of Peninsular Malaysia, and the Kerisi and Bambazon clusters located offshore Sabah.

The Diwangsa cluster comprises four fields about 275km off the shores of Kemaman, Terengganu, while the Rhu-Ara cluster comprises two fields 150km from the shores of Pahang.

The Kerisi cluster, 115km from the shores of Sabah, contains four fields with water depths averaging 1,200m to 1,500m. The Bambazon cluster comprises two shallow water fields around 20km offshore northwest Sabah.

It has been six years since the national oil firm shelved the development of marginal oilfields in the country.

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Govt needs to develop use of LNG for transport sector: Expert

February 27, 2020

Who is Rafe? Not a lot of description in the article.

Dateline 2019-12-21, The Sun:

The government needs to take steps to develop the use of liquefied natural gas (LNG) as fuel for the transport sector as it is the cleanest and most suitable fossil fuel in today’s environmentally-friendly era.

Subject matter expert, LNG development (bunkering) Mohd Rafe Mohamed Ramli said the use of LNG would help the country reduce greenhouse gas emissions by 45% by 2030.

He said LNG is suitable for commercial vehicles such as lorries, trucks and express buses as they consume a lot of fuel.

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Commercial oil production begins at Layang field offshore Malaysia

February 26, 2020

Dateline 2019-12-20, Oilfield Technology:

JX Nippon Oil & Gas Exploration Corporation’s subsidiary, JX Nippon Oil & Gas Exploration (Malaysia) Limited, the Operator of Block SK10 offshore Sarawak, Malaysia together with PETRONAS Carigali Sdn Bhd, commenced commercial oil production from Layang Field on 3 December 2019.
Layang Field (“Layang”), in addition to its natural gas production since May 2017, commenced oil production by using a Floating Production, Storage and Offloading System (FPSO) named “FPSO Helang”.

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