Manager sought over employee’s death

March 4, 2017

We categorically deny that this involves any of our companies.

Dateline 2017-02-01, Daily Express:

Police are looking for a manager of an oil and gas company over the death of an employee.

R. Satesh, 27, from Sabak Bernam, Selangor, is being sought for help in the investigations into the death of Indian national Joseph Kishore Gilbert, 42.

Sentul OCPD Asst Comm R. Munusamy said the victim was found in a weakened state at a condominium in Jalan Kasipillay here around 5am on Jan 19.

“His body was covered in bruises and he was taken to hospital but died,” he said at a press conference at the district police headquarters Tuesday.

olice arrested four people, aged 27 to 39, following the death. Two of them were from the oil and gas company and the other two were medical professionals.

ACP Munusamy said police believe the victim was beaten up at the company office, which was located in the same condominium, shortly before he was found.

“We are still waiting for the post-mortem report but the 51 bruises all over his body pointed to the victim being beaten with a thick cable wire.

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Expert: Price pick-up will spur consolidation

March 3, 2017

Dateline 2017-02-01, NST:

The bottoming out of oil prices will give impetus to the consolidation of upstream oil and gas (O&G) service providers in Malaysia, said an industry specialist. Frost & Sullivan Asia Pacific vice-president for energy and environment Ravi Krishnaswamy said companies are getting more confident as crude oil prices start to pick up, making mergers and acquisitions (M&As) a more viable option. Smaller companies find it more difficult to survive, especially where digital technology is concerned, as they are not able to invest and grow and meet the global criteria, he added. “The best thing to do for these smaller players is to look for synergies with other bigger players or get acquired as this would be a more resilient approach. “Although Petroliam Nasional Bhd (Petronas) has been very open about the industry’s need to merge and consolidate, it cannot force these companies to do so, hence the need to encourage such activities instead,” Ravi told NST Business recently.

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Exclusive: Petronas considers $1 billion stake sale in offshore gas project – sources

March 2, 2017

Dateline 2017-02-20, Reuters:

Malaysian state-owned oil and gas firm Petronas is aiming to sell a large minority stake in a prized upstream local gas project for up to $1 billion as it seeks to raise cash and cut development costs, two sources familiar with the matter said.

Petroliam Nasional Bhd (Petronas) is looking to sell a stake of as much as 49 percent in the SK316 offshore gas block in Malaysia’s Sarawak state, the sources told Reuters, a move that would be among its first major recent sales as it grapples with oil prices that have slumped by half over two-and-a-half years.

That slide has squeezed the cash flows of Petronas [PETR.UL], hurt its earnings and forced it a year ago to announce a 50 billion ringgit ($11.2 billion) cut in capital expenditure over four years.

Petronas, which accounts for a third of Malaysia’s oil and gas revenue, has also cut its dividend. Sources had told Reuters in September it is considering selling its majority stake in a $27 billion Canadian liquefied natural gas (LNG) plant, although the company denied it.

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Diving – El Nido 5oo5

March 1, 2017

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O&G service industry ripe for consolidation with bottoming out of oil prices

February 28, 2017

Dateline 2017-01-26, Borneo Post:

Despite the global uncertainty brought about by recent events such as Brexit and policy direction of the Trump’s administration, the outlook for energy and environment markets in 2017 is largely viewed to be balanced with a slight positive inclination.

This follows a period of downward revisions to the economic growth forecasts and volatility in financial and commodities markets globally, impacted by the slowdown from China and oil prices slump over a two year period.

The Conference of Parties (COP22) discussions in Marrakech were clouded by Trump’s threat to pull the US out of the COP21 Paris climate change accord.

While it may be difficult for the US to unilaterally scuttle the accord, since most of the world countries have affirmed their commitment to de-carbonisation, the challenge lies in actually meeting the US$100 billion/year financial commitments and also agreement on the transparency of future climate monitoring.

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Saturday Star 2017-02-25 – Job Opportunities

February 27, 2017

Happy Wata  IEM VP and Council Candidacy. Vote for me, and spread the word, wilya? 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.

  • Repsol is looking for people, Maintenance Engineer, Pipeline Inspection Engineer, Engineering and Integrity Manager. Visit their website, or send mail here. Did they get new acreage, or they letting go of the old guard?
  • 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 2Q2017. Send me your POs.

Food choice of the week? I would suggest visiting Cicerello’s, Freemantle. Sponsor my flight and accomodation, so I can go there as well.

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)

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Malaysia’s Petronas says RAPID project on track for 2019 start-up

February 26, 2017

Dateline 2017-01-26, Yahoo! Finance:

Malaysia’s state oil firm Petroliam Nasional Berhad said on Thursday its new $27 billion refining and petrochemical complex project in the southeast Asian country is on track for start-up in 2019.

Sources familiar with the matter told Reuters on Wednesday that Saudi Aramco had shelved its plans for a partnership with the company, known as Petronas, on the Refinery and Petrochemical Integrated Development (RAPID) project, raising questions about its future.

RAPID, located within the Pengerang Integrated Complex in the southern Malaysian state of Johor, is designed to have a 300,000-barrel-per-day oil refinery and a petrochemical complex with a production capacity of 7.7 million metric tonnes.

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Under fire, Tabung Haji says received RM1.06b from oil and gas investments

February 25, 2017

Stop. Picking. On. TH.

Dateline 2017-01-26, Malay Mail Online:

Pilgrimage fund Lembaga Tabung Haji (TH) said today it recorded a RM1.06 billion cumulative revenue from all its investments in the oil and gas sector, amid claims that it may have lost RM700 million from the move.

TH said its diversified investments in various sectors have enabled it to cover the increasing costs of Haj operations and subsidy for Malaysian pilgrims every year since 2000, which is expected to rise to around RM200 million this year.

“TH is a long term investor in the oil and gas industry. TH first made investment in this sector in 2001 and has recorded a respectable cumulative RM1.06 billion income from all our investments therein,” TH said in a statement here.

The company however did not specify the amount of profit from its investments into the industry.

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MNPC striving to table bill to safeguard nuclear power

February 23, 2017

Dateline 2017-01-24, Malaysiakini:

The Malaysia Nuclear Power Corporation (MNPC) hopes the bill to safeguard the country’s nuclear power will be tabled in Parliament next year at the latest.

The bill, which will replace the Atomic Energy Licensing Act 1984 (Act 304), will pave the way for the country to have its own nuclear power generator as early as 2030.

MNPC chief executive officer Mohd Zamzam Jaafar said even though the government had decided against having a nuclear power generator before 2030, its development programme was still progressing to ensure that the country would have clean energy sources by then.

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Diving – El Nido 4oo5

February 22, 2017

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