Azmin: Govt needs to ‘recalibrate’ finances before paying oil royalty

December 16, 2018

Should be up measurement engineers’ alley.

Dateline 2018-11-01, Malay Mail:

Economic Affairs Minister Datuk Seri Azmin Ali today said that the government needs to recalibrate its finances first before it can pay the balance of the oil royalty payment owed to the Terengganu due to the nation’s current fiscal position.

During his winding up speech on the Midterm Review of the 11th Malaysian Plan (RMK11), Azmin said the federal government is not delaying the payment but had no choice and had to “recallibrate its finances”.

“I give my commitment that the new government under the leadership of His Most Honourable Langkawi will ensure we keep our promises,” Azmin replied to Kuala Nerus MP (PAS) Datuk Mohd Khairuddin Aman Razali who wanted to know when the state will receive its Petronas oil royalty.

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Petronas makes U-turn on gas delivery charges

December 15, 2018

Why not just go to another supplier?

Dateline 2018-10-31, FMT:

Petronas Dagangan Bhd has announced that there will be no price increase for its Gas Petronas Home Delivery (GPHD) service and the delivery charges remain the same.

The decision was made after taking into consideration public feedback and concerns on the adjustment of the delivery charges, it said in a statement today.

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Commercial gas production begins at Malaysia’s Beryl gas field

December 14, 2018

Dateline 2018-10-24, Interfax:

JX Nippon Oil & Gas Exploration started commercial gas production from the Beryl gas field offshore Sarawak in Malaysia last month, the Japanese company said on Tuesday.

Beryl lies in the shallow waters of Block SK10.

Output will be supplied via undersea pipelines to Malaysia LNG’s Tiga plant in Bintulu, which is partly owned by JX Nippon Oil & Energy.

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Oil royalty dispute to hinder Sarawak

December 13, 2018

Dateline 2018-10-23, Malaysian Reserve:

Not many appreciate the fact that Malaysia is currently one of the largest oil and gas (O&G)-producing nations in Asia, producing about 720,000 barrels of oil per day in 2017 — accounting for about 9.8% of Asia’s oil production and 73 billion cu m of natural gas in 2017, the highest in South-East Asia.

According to the Department of Statistics Malaysia (DoSM), the country’s GDP stood at RM1.17 trillion in 2017 with mining and quarrying (97% crude oil, condensates and natural gas) contributing about 9% or RM98.4 billion to the economy.

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Diving Tenggol 2018-09 Pt 5 of 6

December 12, 2018
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Budget 2019 is based on US$70 oil

December 11, 2018

Dateline 2018-10-18, The Star:

The government is estimating the 2019 Budget allocation based on average crude oil price of US$70 per barrel, although the benchmark Brent crude oil was nearing US$80 per barrel currently, said Prime Minister Tun Dr Mahathir Mohamad.

Elaborating further, he said allocation for the country’s development would be reduced, as it was unavoidable, but the operation budget would be maintained.

“For the 2019 Budget, we have to use our revenue, to that extent, to pay debts. We (however) cannot reduce the operation budget, it has to go on.

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Queen of Perak presents IChemE Awards to outstanding young engineers

December 10, 2018

Dateline 2018-10-17, The Chemical Engineer:

HER Royal Highness Zara Salim, Queen of Perak, presented two promising chemical engineers with trophies at the IChemE Malaysia Awards on 15 October.

HRH Zara Salim is the Royal Patron of IChemE in Malaysia, and, as a chemical engineer herself, a passionate advocate of the profession. She presented Sime Darby Plantation’s Chew Chien Lye with the Young Industrialist Award for his work in process improvement, which has boosted profits while reducing energy and wastewater at the organisation. She also gave Ong Wee Jun the Young Researcher Award.

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Arroyo cites Malaysia-Thailand deal as model for joint exploration

December 9, 2018

Dateline 2018-10-17, BusinessWorld:

SPEAKER Gloria Macapagal-Arroyo said a 1979 agreement between Malaysia and Thailand was a model for joint offshore energy exploration, holding it up as a possible way forward in the development of resources in the disputed South China Sea.

“One good practice of such cooperation is the 1979 Malaysia-Thailand agreement to jointly explore oil and gas in a disputed offshore zone in the Gulf of Thailand,” Ms. Arroyo said in a speech at the 139th International Parliamentary Union (IPU) General Assembly in Geneva.

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Indonesia and Malaysia Lead in Upcoming Oil and Gas Projects Count in Southeast Asia to 2025, Says GlobalData

December 8, 2018

Will you ask the next gen of workforce to come and bathe in O&G?

Dateline 2018-10-17, OilVoice:

A total of 47 crude and natural gas projects are slated to commence operations in six countries across Southeast Asia over the period 2018 to 2025. Among the countries, Malaysia and Indonesia are set to lead in terms of planned and announced oil and gas projects during the forecast period, says leading data and analytics company GlobalData.

Of the total crude and natural gas projects, 22 are planned projects with identified development plans and 25 are early-stage announced projects that are undergoing conceptual studies and that are expected to get approved for development.

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Standing firm over oil and gas

December 7, 2018

Dateline 2018-10-14, Borneo Post:

Chief Minister Datuk Patinggi Abang Johari Tun Openg has reiterated that Sarawak will not compromise on regulatory rights over its oil and gas activities.
He said the state had amended its Oil Mining Ordinance (OMO) 1958 to further strengthen the regulatory rights over oil and gas activities in Sarawak.
“I would like to assure you once again that we will not compromise on the issue of Sarawak oil and gas. The oil and gas are ours and the OMO 1958 gave us full control over oil and gas in our state.
“Other parties (industry players) can develop our resources and our gas but they cannot do so if they do not have licences issued by the State of Sarawak through PETROS (Petroleum Sarawak Bhd),” he said during the parade and rally in conjunction with Sarawak Yang di-Pertua Negeri Tun Abdul Taib Mahmud’s 82nd birthday celebration at Dataran Tun Tuanku Haji Bujang here yesterday.

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