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Diving Komodo 2018-11 5 of 8
January 23, 2019
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Posted by Wata
Petronas Wants Malaysia to be Regional LNG Bunkering Hub
January 22, 2019Dateline 2018-12-14, MarineLink:
Malaysian oil and gas company Petronas plans to introduce liquefied natural gas (LNG) bunkering operations at the country from the second half of 2019.
“As a major player in the LNG business, PETRONAS is well-positioned to support the strategic intent for Malaysia to become the regional LNG bunkering hub,” it said in the Petronas Activity Outlook 2019-2021 report.
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Calmer O&G environment should drive up prices
January 21, 2019Dateline 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, 2019Dateline 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, 2019Did 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, 2019Dateline 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, 2019Dateline 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, 2019Dateline 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, 2019Dateline 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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Wata - Malaysian Oil and Gas Engineer 