The PETRONAS-Sarawak oil intrigue

July 23, 2018

Dateline 2018-06-09, The Star:

SIX DAYS after former prime minister Datuk Seri Najib Tun Razak announced the dissolution of Parliament, Petroliam Nasional Bhd (Petronas) received a letter from the Attorney General (AG) of Sarawak, which it knew it had to act on.

The letter effectively aimed to relieve Petronas as the undisputed guardian of oil and gas (O&G) resources in Malaysia and its powers to be shared with the state government-owned Petroleum Sarawak Bhd (Petros).

Officials familiar with the matter say the biggest fear for Petronas was that its role as the authority for any O&G exploration works would be compromised not because of inadequate laws, but the weak political strength of the federal government.

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Petronas oil claim: Seek ‘win-win’ solution for all

July 22, 2018

Dateline 2018-07-08, FMT:

Suarah Petroleum Group views the current developments in Sarawak oil and gas issues with great concern. Being an active contributor in this journey in redressing oil and gas equity and revenue for Sarawak, we call on all parties for clear heads to prevail and ask them to reduce the political “one-upmanship” between Sarawak and the newly elected federal government.

We also reiterate our mission to provide professional advice and services to maximise Sarawak’s socio-economic benefit and safeguard its rights in the oil and gas industry for its present and future generations.

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Sabah will pursue 20% oil royalty demand, assures Shafie

July 21, 2018

Dateline 2018-07-07, FMT:

Sabah Chief Minister Shafie Apdal has maintained that the state will work on its demand for 20% oil royalty from the federal government in line with his party’s manifesto for the recent general election.

“What we’ve spelled out in the manifesto, our 20% oil royalty, we’ll pursue it,” the Parti Warisan Sabah president said on the sidelines of an event here today.

Shafie had said on April 27, while launching the party’s 13-point manifesto, that Warisan would ensure the oil royalty due to the state increased from the current 5% to at least 20% if it won the state in the polls.

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Malaysia investigates Chinese gas pipeline deals for fraud, possible corruption

July 20, 2018

Dateline 2018-06-07, Taiwan News:

Malaysia’s Anti-Corruption Commission has begun an investigation into two gas pipeline projects contracted to a Chinese company on suspicion of fraud and violation of contract terms.

Malaysia’s Finance Minister, Lim Guan Eng will head to Beijing to discuss the deals and other infrastructure projects with a mandate to potentially terminate some of the agreements, according to the Nikkei Asian Review.

Lim said that it was “highly suspicious” that around 88 percent of the cost of the two pipeline projects had been paid to the China Petroleum Pipeline Bureau (CPPB), despite only 13 percent of the work being done.

The Finance Ministry also alleges that the awarding of the contract did not follow protocol, leading to a case being filed by Malaysia’s Anti-Corruption Commission.

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States to get oil royalties back, Terengganu MB says

July 19, 2018

Dateline 2018-06-07, Malay Mail:

Putrajaya has agreed to pay royalties to all oil-producing states, Terengganu MB Ahmad Samsuri Mokhtar said today.

He said the assurance was given by Prime Minister Tun Dr Mahathir Mohamad during the first National Finance Council meeting under the Pakatan Harapan (PH) government here earlier that was also attended by Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail and the mentris besar of Kelantan, Perak, and Johor as well as the secretaries-general of ministries.

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Ninth gas discovery offshore Sarawak will enhance SK408’s viability

July 17, 2018

Dateline 2018-06-13, Borneo Post:

Sapura Energy Bhd (Sapura Energy) and partners Sarawak Shell Bhd (Sarawak Shell) and Petronas Carigali Sdn Bhd’s (Petronas Carigali) ninth gas discovery offshore Sarawak is expected by analysts to further enhance the viability of the SK408 project cluster by leveraging on the common infrastructure, pipelines and facilities .

In a filing on Bursa Malaysia, Sapura Energy through wholly-owned subsidiary, Sapura Exploration and Production (Sarawak) Inc (Sapura E&P) and the group’s partners Sarawak Shell and Petronas Carigal announced its ninth gas discovery offshore Sarawak, following the completion of its 2017 drilling campaign within the SK408 Production Sharing Contract (PSC).

Sapura Energy announced that the Pepulut-1 exploration well located offshore Bintulu, Sarawak in Block SK408 was drilled and encountered high quality reservoir.

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Sabah should join Sarawak to fight Petronas

July 16, 2018

Aaand where are they selling the tickets for this tag team grudge match? And why is the reporter’s pic in the article, showing him wearing a bulletproof vest? ‘Battle royale’ with 3 participants? Fortnite, much?

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.

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Natural gas tariff for non-power sector to go up from July 1

July 15, 2018

Dateline 2018-06-13, The Sun:

Gas Malaysia Bhd has announced a higher average effective natural gas tariff for the non-power sector in Peninsular Malaysia at RM32.69/MMBtu from July 1 to Dec 31, 2018, 17 sen or 0.5% higher than the RM32.52/MMBtu from Jan 1 to June 30, 2018.

It said in a filing with the stock exchange that the average natural gas base tariff is set at RM31.92/MMBtu for the second half of the year. However, under the gas cost pass through (GCPT) mechanism, a surcharge of 77 sen/MMBtu will apply to all tariff categories due to the higher actual gas costs against the reference gas costs in the base tariff.

The natural gas tariff revision was approved by the government via a letter from the Energy Commission dated June 12.

For Category A (Residential), the effective tariff rate, however, fell 0.5% to RM23.80/MMBtu from RM23.92/MMBtu. For the other categories, the effective tariff rate will range from RM30.50/MMBtu to RM33.32/MMBtu.

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PH has urged Sarawak government to amend PDA

July 14, 2018

Dateline 2018-06-06, NST:

Sarawak Pakatan Harapan has urged the state government to amend the Petroleum Development Act 1974 (PDA).

Its chairman Chong Chieng Jen said if this was not done, the ownership and control of oil and gas industry in Sarawak would remain with Petroliam Nasional Bhd (Petronas).

He said the Chief Minister Datuk Patinggi Abang Johari Abang Openg had refused to do so and insisted that PDA was irrelevant in Sarawak.

“He (Abang Johari) has been saying the PDA is irrelevant and claimed that the state has the full regulatory authority over the upstream and downstream aspects of the oil and gas industry, with the establishment of the Petroleum Sarawak Berhad (Petros).

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Has Sarawak been shortchanged?

July 13, 2018

You mean, has Sarawak been hoodwinked by a fly by night, quick fingered, sleight of hand working man?

Dateline 2018-06-06, Borneo Post:

HAS the PH government broken its promises to the people of Sarawak and Sabah vis-à-vis its Pakatan Harapan Book (Buku Harapan), outlining the four-party coalition’s election manifesto?

As events unfolded with the first bombshell dropped on Sarawak on Monday by Petronas in a suit, seeking legal redress to its oil and gas rights in the state, let us take a look specifically on petroleum rights.

First, let it be known that Petroleum Development Act 1974 (PDA 1974) empowers the Prime Minister to make regulations for the purpose of putting into effect the provisions of PDA 1974 in the conduct or the carrying on of any business or services relating to the explorations, exploitations, winning or obtaining of petroleum.

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