Listing of Petronas unlikely

August 17, 2018

Dateline 2018-06-13, The Edge:

ONCE again, there is talk of a possible flotation of national oil company Petroliam Nasional Bhd (Petronas). Speculation about such a move makes the rounds every few years. Listing Petronas, it is said, could be one way to help cut down the country’s debt, which has breached the RM1 trillion mark, or a little more than 80% of gross domestic product.

But will it take place?

“It was first mooted some 10 years or so ago by merchant bankers when the government was looking to attract foreigners to invest in Malaysia … it was the same time Synergy Drive (which later morphed into Sime Darby Bhd around 2007) was created. It involved the merger of Kumpulan Guthrie, Golden Hope and Sime Darby. A plantation giant was created but did it achieve what it was supposed to do? Did foreign investors come flocking in?” asks a director of an oil and gas company.\

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Sabah should join Sarawak to fight Petronas

August 16, 2018

Dateline 2018-06-13, FMT:

It was reported on June 5 that Petronas had gone to court to seek a declaration that under the Petroleum Development Act 1974 (PDA), the national oil company had exclusive rights over oil and gas resources in Malaysia.

Petronas’ move is in response to Sarawak’s announcement on March 7 that it had assumed full control of oil and gas resources within its territorial boundaries.

The legal test initiated by Petronas is shaping up to become a battle royale between a corporate body and a founding state of Malaysia.

After the Cabinet meeting on June 6, Prime Minister Dr Mahathir Mohamad said the federal government would leave it to the court to decide on the dispute between Sarawak and Petronas, clearly washing his hands over what could be a tenacious battle between federal and state rights.

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Diving: Tenggol 2018-04 Pt 2 of 3

August 15, 2018
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Sapura Energy discovers ninth gas discovery offshore Sarawak

August 14, 2018

Dateline 2018-06-11, NST:

 Sapura Energy Bhd’s subsidiary Sapura Exploration and Production (Sarawak) Inc (Sapura E&P), together with its partners Sarawak Shell Bhd and Petronas Carigali Sdn Bhd, has discovered its ninth gas exploration well in offshore Bintulu, Sarawak.

The discovery followed the completion of its 2017 drilling campaign within the SK408 Production Sharing Contract (PSC).

In an exchange filing today, the Pepulut-1 exploration well was drilled and encountered high quality reservoir, which is located in Block SK408.

“This successful gas discovery is attributed to the strength and capabilities of our exploration, subsurface and drilling teams whose combined expertise has resulted in a number of significant discoveries.

“This series of successful results is founded on our work in understanding the geologic fundamentals of the region” said its president & group chief executive officer Tan Sri Shahril Shamsuddin.

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Sabah pipeline row: Get your facts right, says Ongkili

August 13, 2018

Dateline 2018-06-10, FMT:

A former federal energy minister, Maximus Ongkili, has criticised Sabah DAP for making wild accusations about the Trans Sabah Gas Pipeline project recently highlighted for allegedly dubious financial transactions.

Ongkili hit out at state DAP secretary Chan Foong Hin for making comments on the issue without having enough facts to support his statement.

“Get your facts right first (and) do justice to your MP job,” he said. Chan is the MP for Kota Kinabalu.

“Obviously he does not know about the Kimanis-Sandakan pipeline project,” said Ongkili, accusing Chan of political immaturity and DAP leaders of being “political novices in government”.

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Musa wants state AG to intervene in Petronas’ oil claim

August 12, 2018

Dateline 2018-006-10, FMT:

Sabah Barisan Nasional chairman Musa Aman says he will instruct the state attorney-general to make an application for the state government to intervene in Petronas’ legal bid to claim ownership over the country’s petroleum resources.

Musa, who signed off as the chief minister, said in a statement that this was to safeguard Sabah’s oil and mineral resources.

“We will deploy all available resources of the state government to ensure that the best interest of Sabah is defended always,” he said.

Petronas is seeking a Federal Court declaration that, among others, that based on the Petroleum Development Act, 1974, it effectively has the exclusive authority over all petroleum activities in Malaysia.

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Diving: Tenggol 2018-04 Pt 1 of 3

August 8, 2018
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ChemECar 2018-07 Pt 2 of 2

August 1, 2018
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ChemECar 2018-07 Pt 1 of 2

July 25, 2018
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Laws covering oil and gas industry in Sarawak upstream and downstream

July 24, 2018

Dateline 2018-07-10, Borneo Post:

Constitutional position

Sarawak boundaries

Article 1(3) FC stipulates that territory of Sarawak would be the territory immediately before Malaysia Day and Sarawak’s boundaries shall not be altered except by a law passed by the State Legislature.

State legislative powers to issue permits and licenses for prospecting for mines; mining leases and certificates. Sarawak government and not federal Parliament or the federal government has the executive powers to issue such permits, licenses or leases for petroleum exploration, prospecting or mining.

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