Oil, Gas and Energy sector to see five per cent annual growth till 2020

August 18, 2017

Dateline 2017-07-11, NST:

Malaysia’s Oil, Gas and Energy (OGE) sector is targeted to grow five per cent annually until the year 2020.

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the government had mapped out various policies and incentives to spearhead the growth of the OGE sector as it is one of the key result areas in the ongoing Economic Transformation Programme (ETP).

“And as part of the ETP that will propel Malaysia forward into a truly developed nation, the OGE sector is targeting a five per cent annual growth until 2020.

“Entry Points Projects such as Enhanced Oil Recovery, regional storage solutions, and unlocking of premium gas demand among others, are targeted to contribute RM131 billion in incremental Gross National Income, and generate about 52,000 jobs by 2020.

Zahid was speaking at the 16th Asian Oil, Gas and Petrochemical Engineering Exhibition 2017 before launching the event.

…

 

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

Malaysia’s petroleum and natural gas sector posts 12.5pc annual growth for 2010-2015, says statistics dept

August 17, 2017

Dateline 2017-07-10, Malay Mail:

Malaysia’s petroleum and natural gas industry has registered a compound annual growth rate (CAGR) of 12.5 per cent from 2010 to 2015, with the number of establishments engaged in the industry rising to 157 from 87 over the period, said the Department of Statistics Malaysia (DoS).

In a statement today, it said the value of gross output amounted to RM120.4 billion compared with RM105.9 billion in 2010 (CAGR: 2.6 per cent).

“Extraction of crude petroleum and natural gas group recorded the largest value of RM108.9 billion, contributing 90.4 per cent, while support activities for petroleum and natural gas extraction group registered RM11.5 billion in 2015 (9.6 per cent),” it said.

…

 

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

Diving – Tenggol 2017

August 16, 2017

Leave a Comment » | diving | Tagged: | Permalink
Posted by Wata

Venturing upstream through Petros

August 15, 2017

Historical, but hey. Though, my memories of state owned industries being successful is not that great. And I would be more interested in the O&G roadshow. And the PSC terms for Petros.

Dateline 2017-07-05, Borneo Post online:

The state-owned oil and gas (O&G) company is expected to commence operations early next year.

According to Chief Minister Datuk Amar Abang Johari Tun Openg, ‘Petroleum Sarawak’ – or Petros – is going to be ‘100 per cent owned’ by the state government, which would then work together with national petroleum company Petronas.

“Hopefully, the name (Petroleum Sarawak) is OK – nobody will be using that name, Petros.

“The company is expected to be in operations within six month because we must get our side ready for us to get involved in the upstream oil and gas activities,” he told reporters after the launch of Board of Engineers Malaysia (BEM) roadshow here yesterday.

Abang Johari, who is also in-charge of Sarawak O&G, said at the moment the state does not have its own company that solely looks after upstream operations.

…

 

Leave a Comment » | Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata

Saturday Star 2017-08-12 – Job Opportunities

August 14, 2017

Happy Paka 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 4Q2017. Send me your POs.

Food choice of the week? Mango Shake at Masjid an-Naim, Sura Jetty, Dungun.

Book choice of this week, Chemical Engineering Process Simulation, authors are Nishanth Chemmangattuvalappil Denny Ng Kok Sum Rafil Elyas Cheng-Liang ChenI,Lung Chien Hao-Yeh Lee. I intend to get a signed first edition, and place it in my Charles Dickens first edition cabinet.

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

The dilemma of fuel dealers

August 13, 2017

Dateline 2017-06-30, Sinchew:

Following the introduction of weekly ceiling fuel pricing mechanism, coupled with the continuously falling retail prices — the fifth straight fall this week — many petrol dealers in the country are suffering losses, and they hope the government will do something to help them out of the current doldrums.

There are a total of 3,500 gas stations in the country, but since the government abolished fuel subsidies and implemented the weekly floating pricing policy, many of them begin to encounter difficulty in sustaining their businesses.

From what we know, since the monthly ceiling fuel pricing mechanism was introduced in 2014, some 30 to 40 petrol stations have wound up their businesses. With the implementation of weekly pricing, more are expected to go under. Some 80 petrol stations have already closed down during the last two years and the dealers are worried more will do so if fuel prices keep dropping.

Among the reasons for the closures are minimum wage scheme, rising energy cost, 1% credit card fee, low commissions and falling oil prices.

…

 

Leave a Comment » | engineering | Permalink
Posted by Wata

‘Revive Labuan Shipyard’ call

August 12, 2017

I remember when Labuan was where all the torch to metal action was, in addition to humourous stories about the actions of personnel stationed there.

Dateline 2017-06-29, Daily Express:

A political actvist suggested that the Government help revive Labuan shipyard and bring back its glory years when it was a leading contributor to the local economy rather than the oil and gas sector.

Lau Seng Kiat, who was an Independent candidate in the 2004 general election, said during its heydays the shipyard stood out as a regional leader with some 3,000 employees including subcontractors, vendors and others benefiting from the contractors of the company. “The oil and gas sector was not in full bloom yet.”

Sabah Shipyard as it was then called and now Labuan Shipyard & Engineering Sdn Bhd (LSE), was established in 1972 and much earlier than the Asian Supply Base (ASB). The yard has impressive state-of-the-art facilities and built 16,500 dwt palm oil/chemical tankers for MISC which were said to be the largest built in the country.

It also supplied power barges to the Philippines, Pakistan and SESB to fast track industrial development.

The yard also built cement and log carriers and tugboats.

“But due to lack of continued support the shipyard slipped from its position and was overtaken by the oil and gas boom,” said Lau.

..

Leave a Comment » | investment, Malaysia | Tagged: , | Permalink
Posted by Wata

Online hiring dips further despite oil-and-gas uptick

August 11, 2017

Are you one of the sixteen percenters?

Dateline 2017-06-29, Malay Mail:

Malaysian firms’ online recruitment has contracted for yet another month despite the oil-and-gas sector enjoying registering a 16-per cent growth in hiring, according to Monster.com.

In its monthly Monster Employment Index (MEI), overall online hiring in May fell 14 per cent from the same time last year.

Past index records show that April and March online recruitment figures both suffered a 11 per cent year-on-year decline, with no expansion in February and a mere 2-per cent growth in January.

With its hiring in May, the oil-and-gas industry emerged as the best-performing sector “for the first time ever”, the company said.

…

Leave a Comment » | investment, Malaysia | Permalink
Posted by Wata

Interview: Malaysia’s Petronas creating new LNG demand to ease supply glut

August 10, 2017

Dateline 2017-06-28, Platts:

The LNG markets have gone through sweeping changes over the past three years, with growing production and changing buying patterns forcing suppliers to be more creative, flexible and willing to take risks, and Malaysia’s Petronas seems determined to lead this trend, as the company explores new ways of expanding its customer base.

In an interview on the sidelines of the 19th Asia Oil and Gas Conference in Kuala Lumpur in May, vice president for LNG trading and marketing Ahmad Adly Alias and chief executive officer with Petronas LNG Ezhar Yazid Jaafar said Petronas is adjusting its business model to create new demand centers, by expanding to emerging markets and across the LNG value chain through joint venture partnerships.

“We want to become a solutions provider,” Alias said. “The market has now changed because the US model has taken a different approach, adding more liquidity and flexibility, so Petronas is also becoming more progressive, willing to change the way we operate.”

…

Leave a Comment » | Malaysia, oil and gas | Tagged: , | Permalink
Posted by Wata

Diving – Tenggol 2017

August 9, 2017

Leave a Comment » | diving | Tagged: | Permalink
Posted by Wata

« Previous Entries
Next Entries »