O&G firms see RM398m export potential

December 3, 2018

INSP is International Sourcing Program.

Dateline 2018-10-09, Malaysian Reserve:

MALAYSIAN companies have recorded a total RM397.9 million of export potential via the International Sourcing Programme (INSP) at the 4th Malaysian Oil and Gas Services Exhibition and Conference (MOGSEC) 2018 that was held between Sept 25 and Sept 26, 2018.

The exhibition saw the participation of 34 Malaysian oil and gas (O&G) companies that were eyeing export markets including the United Arab Emirates, Pakistan, Turkey, Myanmar and Vietnam.

Malaysia External Trade Development Corp (Matrade) CEO Dr Mohd Shahreen Zainooreen Madros (picture) said in a statement the export potential was configured through 86 meetings organised under the INSP.

“The INSP helps a great deal for local companies as they get to meet with the foreign buyers in their home country, giving them a competitive advantage in terms of cost,” he said.

He added that foreign buyers at the INSP this year were sourcing various Malaysian O&G services including equipment and parts, rig cooling services, well-testing support equipment services, vessel monitoring systems, remote monitoring, manpower supply and services, transportation and logistics, services gas, as well as saturation logging and simulation studies.

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MGA advocates expanded role for natural gas

December 2, 2018

Dateline 2018-10-09, Borneo Post:

In support of the government’s efforts to achieve Malaysia’s COP21 targets, the Malaysian Gas Association (MGA) is advocating for the expanded use of natural gas, a clean, efficient and cost-effective fuel, to reduce the country’s carbon emissions and drive social, environmental and economic progress.

Malaysia’s natural gas industry reported a cumulative contribution to the nation’s gross domestic product (GDP) amounting to 4.2 per cent, comprising of domestic sales of natural gas at US$2.45 billion and exports in the form of liquified natural gas (LNG) valued at US$10.56 billion in 2015.

Commenting on the industry, MGA president Hazli Sham Kassim said that given that natural gas is the cleanest burning fossil fuel, the association believes natural gas can play a prominent role in ensuring the country achieves its COP21 promise by supporting the expansion of renewable energy while simultaneously driving Malaysia’s economic progress.

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Higher oil price a boon to upstream activities in Malaysia

December 1, 2018

Is the boon enough to keep me in the business?

Dateline 2018-10-01, Market Pulse:

Rising oil prices will be a boon to the local oil and gas (O&G) sector as production is expected to rise and producers seek to pump more crude from the available and new wells.

Analysts also expect oil companies to free up more of their budget for upstream activities after four years of doldrums and expenditure slashing.

Oanda Corp head of trading for Asia Pacific Stephen Innes said despite the Brent crude price optimism of reaching the US$100 (RM414) per barrel level will be a “short-term phenomenon”, it will facilitate more upstream activity globally.

“Higher oil prices will attract more capital to offshore rigs, which are expensive but profitable near current levels, result in pipeline infrastructure improvement from the US Permian basin, and allow Russia and OPEC to ramp up production.

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Gas players want more clarity on policies

November 30, 2018

Dateline 2018-10-03, The Edge:

A clearer policy by the new Pakatan Harapan government on the country’s energy mix and market pricing for the gas industry is needed, said players in the gas supply chain.

Malaysian Gas Association (MGA) president Hazli Sham Kassim said while there are existing policies in place, more clarity is needed to encourage more investments into the industry.

“We hope to see a clearer policy stance on the energy mix, which will make it easier for our members to plan their investments. For example, there are still international companies reluctant to invest in the gas industry in the peninsula because they are not sure of the market conditions,” Hazli told a media briefing yesterday.

He said this is especially the case as usage of coal increases, potentially reducing gas usage.

“As far as the gas industry in Malaysia is concerned, it is under pressure because of coal production which is expected to increase, [and] of which gas usage is also expected to decline.”

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Malaysia delays implementation of Euro 4M specs for 95 RON gasoline to Jan 2020

November 29, 2018

This is of interest to me as MOGEC is a member of SIRIM ISC H.

Dateline 2018-10-03, Platts:

Malaysia has postponed the implementation of its Euro 4M gasoline specifications for the 95 RON grade to January 1, 2020 from the initial October 1, 2018, according to a government circular to oil companies seen by S&P Global Platts on Tuesday.

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BEM Open Day 2018-11

November 28, 2018

If you want to know more about how to be registered as a graduate engineer, technologist, clerk of works, engineering consultancy practice, and basically how to not run afoul of the law (in addition to other interesting stuff) turn up. Run, don’t walk. If you see me, say hi. The schedule can be obtained here.

Taken from bem.org.my:

The Board of Engineers Malaysia (BEM) will be organising BEM OPEN DAY 2018 on 4th December 2018 & 5th December 2018 offering many programmes including Stakeholders Engagement Session, Mini Seminars (free of charge), Exhibition booth, Help-Desk @ consultation clinic & STEM Competition.

The Board wish to invite all registered engineers, engineering technologists and inspectors works and general public including university graduates, students, parents, teachers to attend BEM Open Day 2018 and participate in all our programmes. Grab this golden opportunity to meet us in BEM, clear your doubts and gather as much information as possible. Register and Renew online during BEM Open Day 2018.

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IEM-Standards Malaysia-Suruhanjaya Tenaga Electro Technical Symposium 2018-11

November 28, 2018

While waiting for the next CAFEO Export Acceleration Mission 2019 in Jakarta, take the edge of with this. The Symposium is on the 4th and 5th December, 2018 at Connexion Conference and Exhibition Centre, KL. Register at www.iese.my
IESE2018 Brochure 18112018-page-001

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Diving Tenggol 2018-09 Pt 3 of 6

November 28, 2018
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Nuclear option should stay

November 27, 2018

Yes, it is an excellent deterent I look forward to when we have backyard reactors.

Dateline 2018-10-04, NST:

PRIME Minister Tun Dr Mahathir Mohamad recently lamented our traumatic experiences with radioactive materials (amang) during his special address at the recent Conference of Power and Electricity Supply Industry 2018 (CEPSI 2018).

He said that until today, scientists still haven’t delivered an acceptable solution for the radioactive waste problem and then stressed that nuclear power should never be an option for Malaysia.

This feels like we are unwittingly turning the clock back to the 80s. This is because nuclear power is now widely acknowledged as the only proven solution for carbon-free base load electricity generation. Nuclear power was so popular in the last decade that there was even a brief period of global nuclear renaissance when climate change felt inevitable and the hike in crude oil prices seemed unending. Unfortunately, the Fukushima nuclear accident in 2011 put a spanner in the works. Nevertheless, 436 nuclear power reactors are still in operation in 31 countries around the globe. In addition, 55 new reactors are currently under construction. Even Japan, which closed down or suspended the operations of all of its nuclear power plants after the Fukushima disaster, has restarted a few plants to meet domestic electricity demands.

Germany, on the other hand, decided in 2000 to shut down all of its nuclear power stations. It now imports electricity from (ironically) nuclear-powered France while sweating over a creeping increment of carbon index due to higher reliance on fossil fuels.

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Petronas should conserve finances

November 26, 2018

And what happens to us bottom feeders?

Dateline 2018-10-04, Sun Daily:

IS the decision by Petroliam Nasional Bhd (Petronas), to pay a sharply higher dividend this year to the Federal Government financially prudent and sustainable in the medium term?

Buoyed by a stunning 71.5% jump in net profit to nearly RM23 billion for the first half of this year, the national oil company announced it will pay RM24 billion in dividends to the Federal Government this year – a 50% hike from the RM16 billion level last year.

Higher dividends are financially feasible this year because oil prices have increased markedly and are likely to remain elevated in the short term.

This is due to the combined impact of US sanctions against Iran – resulting in possibly 1.5 million barrels per day (bpd) withdrawn from the market effective Nov 4 this year – hiccups in Venezuela’s oil production and major producer Saudi Arabia’s inability or refusal to raise output immediately to meet this shortfall in supply.

On Monday, Brent crude oil futures closed at US$84.98 (RM351.81)/barrel. Post settlement, prices strengthened to US$85.45 – the first time that prices exceeded the US$85 level since November 2014.

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