Nomura: Malaysia among ‘clear-cut winners’ of rising oil prices

December 31, 2017

Dateline 2017-11-10, The Edge:

Malaysia is among five “clear-cut winners” of rising prices of crude oil due to Malaysia’s position as a net exporter of the commodity, according to Nomura.

In a report today, Nomura said Malaysia, Colombia, Nigeria, Russia and Saudi Arabia are clear-cut winners among emerging markets in anticipation of significantly higher oil prices in 2018. Today, Nomura’s report followed Brent oil’s rise in 2017 from a trough of around US$44 a barrel in June to about US$63 now.

“Malaysia: As a net exporter of oil (0.3% of gross domestic product (GDP)) but an even larger exporter of LNG (liqufied natural gas) (2.6%) – the price of which is closely linked to oil, but with a few months lag – the benefit from higher oil prices is amplified.

“We estimate every US$10 increase in the oil price would widen the trade surplus by about 0.4% of GDP, helping to keep the current account in a comfortable surplus, which now stands at around 2.3% of GDP. The government has removed fuel subsidies, yet still collects oil revenues (14.8% of 2018 budgeted revenue),” Nomura said.

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Repsol expects increased production from Kinabalu block by June next year

December 30, 2017

They need an allocation and measurement engineer to count those extra drops. Who do I contact?

Dateline 2017-11-09, NST:

Repsol Oil and Gas Malaysia Ltd expects an increased production from its Kinabalu block to an average of 16,000 barrels of oil per day (bopd) from the current 11,012 bopd with the new platform there.

Its director (Malaysia Business Unit) Jorge Milathianakis said they expect to reach this capacity by June next year once all 10 wells from the new bridge-linked wellhead platform (KNDW-D) are operational.

Speaking at the media engagement to announce the first oil production from the Kinabalu Redevelopment project, Milathianakis said they have achieve the first oil production from the new platform on October 29.

KNDW-D was successfully installed on June 8 this year, connected to the existing platform (KNDP-A).

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Malaysia’s Hibiscus Petroleum Aims Up To 5000 Barrels/Day Output By FY20-Official

December 29, 2017

Dateline 2017-11-09, Nikkei Asian Review:

Malaysia’s Hibiscus Petroleum, an oil and gas exploration and production company, is aiming daily oil output up to 5,000 barrels from its Anasuria Cluster by the end of the fiscal year to Jun. 30, 2020, its managing director said Thursday.

“We hope to maintain at least 85% average facility uptime at Anasuria cluster,” Kenneth Gerard Pereira said at a news conference. This would help the company maintain cost of production at $15.4 per barrel at least through this financial year, he said.

“The current oil price is a sweet spot for us,” he said, and the company is comfortable under this operating environment as it estimates global Brent crude oil price to stay between $58 per barrel and $68 a barrel, Pereira added.

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Oil & Gas Significant In Quest To Become High-Income Nation

December 28, 2017

Dateline 2017-11-09, MalaysianDigest:

The oil and gas (o&g) industry remains one of the significant contributors to Malaysia’s economy and revenue in the strive to become a high-income nation by 2020.

Despite facing numerous challenges and dwindling contribution to the government’s revenue, it is still an industry to be reckoned with, considering the sheer size of its workforce and multiplier effect to the economy.

In the medium term, the o&g industry remains a significant contributor to the economy and revenue as the economy progressively expands into other sectors, namely the services industry.

With crude oil prices averaging US$50 per barrel this year, they bolster government’s income and allocation to boost the economy and support programme towards meeting the goal of becoming a high-income nation under the National Transformation Programme.

Crude oil prices are correlated to global economic growth.

…

 

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Tenggol – 2017-10 Pt 2 of 4

December 27, 2017

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Not true Sabah O&G made collateral

December 26, 2017

Nah, the collateral is when we give up Layang-layang reef.

Dateline 2017-11-09, Daily Express:

Abdul Rahman described claims that Prime Minister Dato’ Sri Najib Razak had collateralised oil and gas blocks off Sabah to the Chinese for a loan of RM100 billion as a total and blatant lie.

He said this in reference to a message which started making its rounds over social media Tuesday afternoon, purportedly to warn Sabahans, Sabah MPs and ADUNs with regard to the Trans Sabah Gas Pipeline (TSGP) project. The message alleged that the Prime Minister has collateralised oil and gas blocks off Sabah to the Chinese for a loan of RM100 billion.

“This is a total and blatant lie perpetrated by irresponsible party who would benefit from people’s anger and mistrust towards the federal and state governments.

“I want to announce here that the TSGP is important for Sabahans, industries and non-industries using gas as fuel.

“All this while we have asked for Sabah gas to be used for industry and the people of Sabah, thus we build TSGP from Kimanis to Kota Kinabalu and from there to Tuaran, Kota Belud, Kota Marudu and then to Sandakan and Tawau.

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Saturday Star 2017-12-23 – Job Opportunities

December 25, 2017

Happy short work week. IGL has pivoted into training, so book your seats now.

We’re thinking of republishing Young Turks of PETRONAS, but it’s a minimum 500 book printing run. Do I have enough interested persons to purchase?

Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I have a feeling that The Star isn’t the preferred O&G job recruitment portal now, and they have moved adverts to another online presence (I bought a dead tree edition this week). I see more adverts via social media. What do you think, is it a step change that the papers need to embrace?
  • I’m looking for jobs for 1Q2018. Send me your POs.

Food choice of the week? Support your local mee bandung.

This week, may I suggest you have a peek at Dakwah Corner? They have branches in Subang Parade, PJ Section 14, Ampang Park

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Oil & Gas Significant In Quest To Become High-Income Nation

December 24, 2017

High income, but probably not high value added services. Now, when 4D becomes linked to your paycheck, and a list of all plate numbers of vehicles involved in accidents are made available via a an app on Android, Blackberry, Windows Phone and Symbian…

Dateline 2017-11-09, Malaysian Digest:

The oil and gas (O&G) industry remains one of the significant contributors to Malaysia’s economy and revenue in the strive to become a high-income nation by 2020.

Despite facing numerous challenges and dwindling contribution to the government’s revenue, it is still an industry to be reckoned with, considering the sheer size of its workforce and multiplier effect to the economy.

In the medium term, the O&G industry remains a significant contributor to the economy and revenue as the economy progressively expands into other sectors, namely the services industry.

With crude oil prices averaging US$50 per barrel this year, they bolster government’s income and allocation to boost the economy and support programme towards meeting the goal of becoming a high-income nation under the National Transformation Programme.

…

 

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RM4.5b Trans Sabah Gas Pipeline to be funded with loan from China, guaranteed by Malaysia

December 23, 2017

Why not just say, paid by Malaysia?

Dateline 2017-11-08, The Edge:

The Trans Sabah Gas Pipeline (TSGP) will be funded by a soft loan of RM4.53 billion from the Export and Import (EXIM) Bank of China and guaranteed by the Malaysian government, said Minister in the Prime Minister’s Department, Datuk Seri Abdul Rahman Dahlan.

The RM4.53 billion constitutes the total cost of the project, Rahman Dahlan said in a statement today, refuting an allegation on social media that Prime Minister Datuk Seri Najib Razak had collateralised oil and gas blocks off Sabah to China for a loan of RM100 billion.

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Petros still far from picking its CEO

December 22, 2017

Dateline 2017-11-08, The Malaysian Insight:

SARAWAK-OWNED petroleum company, Petroleum Sarawak Bhd (Petros), is no nearer to picking its chief executive officer.

Petros board chairman Hamid Bugo said the board was screening the more than 40 applicants that had responded to its advertisement for the post in local and national newspapers.

“It will take some time. This is a very important position and we want to choose the best person,” he said yesterday after attending Chief Minister Abang Johari Openg’s press conference to announce the appointment of Sarawak Energy Bhd (SEB) to spearhead research on hydrogen fuel and hydrogen fuel cell applications in the state.

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