Saturday Star 2017-04-29 – Job Opportunities

May 1, 2017

Happy ‘Already Seeing Dates for Ramadhan in Shops’ 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. 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 3Q2017. Send me your POs.

Food choice of the week? The nostalgic food stall, near your parents home. McD Bangsar Baru does not count.

Seeing that Joe Dever has passed away, you may want to revisit his books:

Flight from the Dark (Lone Wolf, Book 1), Legends of Lone Wolf Omnibus 1, War of the Wizards (The World of Lone Wolf, Book 4)

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

Prudent spending helps Petronas control earnings decline

April 30, 2017

Dateline 2017-03-17, FMT:

Petronas has managed to control its decline in earnings in the wake of low crude oil prices due to cost optimisation initiatives, ratings agency Moody’s said yesterday.

It described Petronas’ 6.7% decline in its earnings before interest, tax, depreciation and amortisation (ebitda) to RM70.4 billion for 2016 over 2015 as a “modest” decline.

“This is a modest earnings decline, considering that the crude oil prices have decreased by around 17% year-on-year, with Brent averaging US$43.69 per barrel (bbl) in 2016, as compared with US$52.46 per bbl in 2015,” Moody’s said in a report.

However, Petronas’ upstream earnings for 2016, measured by profit after tax, improved by 88%, The Sun Daily reported.

This, Moody’s said, was mainly due to operating costs reduction and lower impairment losses, compared with 2015.

Petronas’ crude oil and natural gas entitlement volumes increased by 10.5% to 1,794 barrels of oil equivalent per day (boed), the report said.

…

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

SEC expands gas distribution network

April 29, 2017

Dateline 2017-03-17, Daily Express:

Sabah Energy Corporation Sdn Bhd (SEC) is expanding its gas distribution network to reach out to new segments of energy users through the building of a plant that converts natural gas from its gaseous form to liquid, the first of its kind in Malaysia.

The State Government-linked company is embarking on the project in partnership with China’s Zhangjiagang Furui Special Equipment Co. Ltd (FURUISE) through the setting up a company known as SEC Gas Sdn Bhd.

The company is to build, own and operate the plant which will be located at the Kota Kinabalu Industrial Park (KKIP).

When launching the SEC’s third phase gas distribution initiative Thursday, Chief Minister Datuk Seri Musa Aman praised the company for taking the initiative to breathe fresh air to the State not only in the form of bringing new technology but also expanding the benefits of natural gas to a wider spectrum of energy consumers.

…

 

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Posted by Wata

Petronas not affected by weaker oil price

April 28, 2017

Dateline 2017-03-17, Malaysia Outlook:

The recent oil prices pull-back will not affect Petroliam Nasional Bhd’s (Petronas) spending given that the local oil major has pegged its capital expenditure (capex) budget at an average US$45 per barrel.

According to Kenanga Research, the Petronas capex was a conservative figure compared with the US government’s Energy Information Administration forecast of US$54 per barrel.

“However, capex and operating expenditure allocations will remain rather selective as Petronas will continue to prioritise on managing its cash flow amid tight capex spending,” Kenanga said in its report this week.

Oil prices have weakened by 9% to US$51.4 per barrel within a week after a few months of stabilisation, largely due to reignited concerns on building oil stocks and revival of rigs count in the United States coupled with the moderation of oil demand growth.

…

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Posted by Wata

Malaysia’s Petronas warns on 2017 outlook despite swing to Q4 profit

April 27, 2017

Dateline 2017-03-14, Reuters:

Malaysia’s Petroliam Nasional Bhd warned on Tuesday of a cautious outlook for 2017, although sharp cutbacks in expenses by the state-run oil major allowed it to swing to a fourth-quarter profit from a loss in the year-ago period.

Petronas maintained what it called a “conservative” outlook for this year – despite also posting a higher profit for 2016 – saying it expects oil prices to remain uncertain and that it will continue to pursue lower costs.

Petronas, as the company is known, is relying on lower operating expenses, job cuts and project rollbacks to help it navigate through a low oil price environment.

Malaysia relies on its only Fortune 500 company for nearly a third of its oil and gas-related revenue. Petronas is one of the country’s largest employers with a workforce of over 50,000.

…

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

IEM – AGM

April 26, 2017

At the last AGM, thanks to you, myself and Ir. Abd Razak have been appointed to Council. We shall see how long we last before we are caught transfering funds to Bermuda.

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

Malaysia Petchem JV Search Continues After Saudis Join Hub

April 25, 2017

Dateline 2017-03-14, Bloomberg:

Petronas Chemicals Bhd., a unit of Malaysia’s state energy company, said it’s in talks with petrochemical firms from Asia and Europe to invest in a $27 billion oil refining and petrochemical project, sustaining hope the country can find a partner after at least three previous deals fell through.

Companies from Japan, South Korea, China, Taiwan and Italy have expressed interest in joining the Refinery and Petrochemicals Integrated Development, or RAPID, said Chief Executive Officer Sazali Hamzah, declining to identify them. Earlier plans by Petronas Chemicals’ parent, Petroliam Nasional Bhd., to develop petrochemical plants at the complex in the southern state of Johor with Evonik Industries AG, BASF SE and Kuokuang Petrochemical Technology Co. never materialized.

…

 

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

Saturday Star 2017-04-22 – Job Opportunities

April 24, 2017

Happy Pertabalan 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. 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 3Q2017. Send me your POs.

Food choice of the week? The nostalgic food stall, near your parents home. McD Bangsar Baru does not count.

Seeing that Joe Dever has passed away, you may want to revisit his books:

Flight from the Dark (Lone Wolf, Book 1), Legends of Lone Wolf Omnibus 1, War of the Wizards (The World of Lone Wolf, Book 4)

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

Malaysia O&G services, equipment firms’ combined profit down 52% in FY15

April 23, 2017

Let’s see.. Yup, this is a optimistic reduction.

Dateline 2017-03-07, Astro Awani:

Malaysia Petroleum Resources Corp (MPRC) disclosed that overall profit for the Malaysian oil & gas services and equipment (OGSE) companies here slumped by more than half to 3.1 billion ringgit in financial year 2015. This is considering how badly the O&G sector was hit following the crude oil price crash.

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

Malaysia’s Petronas Swings to Profit Amid Higher Oil Prices

April 22, 2017

Dateline 2017-03-14, Bloomberg:

Petroliam Nasional Bhd., Malaysia’s state oil company, swung to a profit last quarter amid higher oil prices and as the company recorded lower impairment costs.

Net income was 9.42 billion ringgit ($2.1 billion) in the three months through December, from a loss of 4.69 billion ringgit a year ago, the company said Tuesday. Revenue fell 2.6 percent to 58.6 billion ringgit.

While cost-cutting helped improve performance and the global oil market is expected to rebalance, the outlook remains uncertain, Chief Executive Officer Wan Zulkiflee Wan Ariffin told reporters in Kuala Lumpur. “We are preparing ourselves for a very uncertain second half of this year.”

…

 

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

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