Calmer O&G environment should drive up prices

January 21, 2019

Dateline 2018-12-14, Borneo Post:

 The calmer operating environment in the oil and gas (O&G) sector should drive up oil prices, analysts observed.

In a report, the research arm of AffinHwang Investment Bank Bhd (AffinHwang) noted that a total of 1.2 million barrels of oil per day (mmbpd) will be removed from the oil market for six months from January 2019 onwards, representing 1.2 per cent of the total supply.

It also pointed out that the Organisation of Petroleum Exporting Countries (OPEC) members pledged to cut 800,000 bpd of output, while the rest of countries including Russia with a lion’s share, will cut 400,000 bpd.

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Fixing of floor price for oil bodes well for Malaysia

January 20, 2019

Dateline 2018-12-14, The Star:

Amid an uncertain oil and gas (O&G) environment, it would seem that a floor price for crude oil has been fixed at US$60 per barrel since the collective agreement by global oil producers to cut supply.

This development bodes well for Malaysia, both the government and local O&G industry players, as it signifies some clarity ahead.

While the crude oil price assumption of US$70 per barrel used for the tabling of Malaysia’s Budget 2019 may be high, it is still well within the US$60 to US$70 per barrel range. Tumbling crude oil prices would create increasing challenges for the government to finance Budget 2019.

According to the recently published Petroliam Nasional Bhd (Petronas) Activity Outlook for 2019 to 2021, Petronas has raised its assumed oil price on a planning basis to between US$60 and US$70 per barrel for 2019.

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Oil prices to remain volatile in 2019, says Petronas

January 19, 2019

Did the papers just extract phrases from the Outlook?

Dateline 2018-12-11, FMT:

National oil and gas (O&G) company Petronas today said it expects volatility seen in oil prices this year to persist in 2019 as well.

In its annual Petronas Activity Outlook (PAO) report for 2019-2021 released today, Petronas shared its perspective on industry trends, demand outlook and activities in the upstream and downstream sectors.

“Petronas, in this edition of the PAO, maintains its prudent view on the industry outlook and will respond with cautious optimism particularly on new capital projects,” it said in a statement today.

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Malaysia’s Petronas says cautious on new projects amid market volatility

January 18, 2019

Dateline 2018-12-11, Xinahunet:

Malaysian state-owned oil and gas company Petronas said Tuesday that it expects market volatility to persist next year, and remains cautious on new capital projects.

“Greater market volatility is expected to persist in 2019. Petronas maintains its prudent view on the industry outlook and will respond with cautious optimism particularly on new capital projects,” Samsudin Miskon, vice president of the group’s procurement, said in an activity outlook report for the period 2019-2021.

Oil prices have been fluctuating this year, with Brent crude oil prices rising to 86 U.S. dollars per barrel in early October, from 67 U.S. dollars per barrel at the beginning of the year. However, the prices declined by 30 percent to 57 U.S. dollars in early December due to oversupplied market.

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Dr Mahathir : Malaysia moves towards greener diesel

January 17, 2019

Dateline 2018-12-11, The Edge:

Malaysia is going for a greener diesel in February next year.

Prime Minister Tun Dr Mahathir Mohamad today launched the B10 Biodiesel Programme that will see the fuel – comprising 10% palm oil biodiesel and 90% fossil diesel – used by all types of diesel vehicles in the transportation sector beginning Feb 1, 2019.

The use of 10% palm oil biodiesel in Malaysia for vehicles such as four-wheel-drive vehicles, lorries and buses will reduce the emission of greenhouse gases by 1.6 million tonnes of carbon dioxide equivalent per year, he said.

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Diving Komodo 2018-11 4 of 8

January 16, 2019
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Online hiring in O&G industry still flying high

January 15, 2019

Dateline 2018-12-12, FMT:

The oil and gas industry in Malaysia has recorded 19 consecutive months of year-on-year growth, up 13% in October according to the latest Monster Employment Index (MEI).

On a six-month basis, the sector recorded positive growth of 8%.

The only other industry monitored by the MEI which registered positive growth and online recruitment activity in the same period was the IT, telecom/internet service provider and business process outsourcing/information technology enabled service sector, which recorded growth of 25%.

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Murphy Oil Reportedly Receives Big Bid For Malaysian Assets

January 14, 2019

Dateline 2018-12-10, Seeking Alpha:

Murphy Oil Corporation (NYSE:MUR) has reportedly received a bid from an unknown third-party that is seeking to buy its Malaysian oil & gas assets for US$2 billion-US$3 billion. The division is a material cash flow generator to Murphy Oil Corporation as the upstream player pumped 46,700 BOE/d net out of Malaysia during the third quarter of this year (61% liquids cut). Murphy Oil Corporation also has several very promising growth prospects in the region, including an ongoing floating liquefied natural gas development in Block H. The firm would need to receive a generous offer to part with those opportunities. Let’s dig in.

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Malaysia cuts oil output by 15,000 barrels a day in line with Opec decision

January 13, 2019

Dateline 2018-12-08, Malay Mail:

Malaysia will reduce its total oil output by 15,000 barrels per day from next year following the decision of Organisation of the Petroleum Exporting Countries (Opec) to cut production levels.

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O&G stocks may be heading for better 2019?

January 12, 2019

Ho ho ho.

Dateline 2018-12-04, NST:

Oil and gas stocks may be headed for a better year in 2019 as crude oil price claw back the current losses to trade over US$70 per barrel from January onwards.

The energy index, which represents the stocks, rebounded on Monday from its one-year low as crude oil price rose, but the index may continue to stay volatile until the end of the year, analysts said.

They said this gives investors the opportunity to hunt for bargains.

The looming weakness in current crude oil price stems from concerns over a global supply glut, exacerbated by waivers given by the United States to continue purchasing oil from Iran, one of the analysts said.

Brent crude oil price marked its eighth week of losses after declining marginally by 0.2 per cent last week to US$58.71 per barrel.

Brent crude has traded around US$66 per barrel on average for the last one month.

On Monday, the Brent rebounded 4.86 per cent to US$62.35 as at 2pm.

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