IAEA Delivers Report on Nuclear Power Infrastructure Development to Malaysia

April 20, 2017

As a Council member of the IEM, I want the nuclear prolification portfolio.

Dateline 2017-03-06, IAEA:

The International Atomic Energy Agency (IAEA) delivered the final report of a mission that reviewed Malaysia’s infrastructure development for a nuclear power programme.

The Integrated Nuclear Infrastructure Review (INIR) mission took place in October 2016 at the invitation of the Government of Malaysia. It reviewed the status of development of the 19 infrastructure issues using the Phase 1 criteria of the IAEA’s Milestones Approach.

“We appreciate Malaysia’s transparency and cooperation throughout the process of conducting this mission,” said Dohee Hahn, Director of the Division of Nuclear Power at the IAEA Department of Nuclear Energy. “Strengthening government commitment and enhancing public awareness will help Malaysia in its decision on whether to embark on a nuclear power programme.”


MPRC study shows Malaysian O&G companies more resilient than regional peers

April 19, 2017

Kipidap, as Rani Kulup would say.

Dateline 2017-03-06, The Edge:

The abrupt steep fall in global oil prices that has forced industry players to adjust to the “new normal” — low crude prices coupled with high cost pressures, Malaysian oil and gas services and equipment (OGSE) companies in fact fared better than regional and international players.

Speaking at the exclusive briefing organised by Malaysia Petroleum Resources Corp (MPRC), Malaysian Offshore Vessels Owners’ Association president Amir Hamzah Azizan said that the analysis showed the national oil and gas (O&G) industry is still resilient and stands a greater chance compared with other markets to rise from the current industry downturn.

“Let’s see this as an opportunity for our industry and country to rise from this downtrend. The landscape is changing globally but there is still great value in the industry,” Amir said.

 


MALAYSIA GONNA START CHANGING PETROL PRICE EVERY WEEK? WON’T THAT SUSAHKAN US MORE?

April 18, 2017

Dateline 2017-03-14, Cilisos:

Just 3 years ago, Malaysia was still a country with petrol subsidies, but that all changed when the gomen decided they weren’t going to pay for those subsidies anymore. Malaysia then moved to a float system, where the prices of petrol locally would be determined monthly by the prices worldwide.

For the longest time, our Editor-In-Chief had been wanting for one of us writers to write about how these monthly petrol prices in Malaysia are calculated. Sadly, it kept getting postponed either because of something more current or we just forgot. In fact, our saudara at SOSCILI ended up writing about it before us.

With the price of petrol and diesel going up in the past 2 months, we thought it would be a good time to translate their article. But as soon as this writer started researching about the topic, we realised that some major changes are coming where petrol prices are concerned.


Saturday Star 2017-04-15 – Job Opportunities

April 17, 2017

Happy The Last Jedi trailer 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.

  • KPOC is looking for a Project Engineer, Control and Instrumentation Reliability Engineer. Visit their LinkedIn page or email them here.
  • 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)


No way out but to consolidate

April 16, 2017

Less than 4,000 SWEC licensed companies? There must be more SWEC registered companies.

Dateline 2017-04-06, The Edge:

Consolidation in the Malaysian oil and gas (O&G) industry — which had 3,956 Petronas-licensed companies as at 2015 — is deemed necessary to brave the current industry downturn.

“Malaysia is an O&G country and it is fundamental for us to develop the industry so that it can remain strong even post-downturn,” Malaysian Offshore Vessels Owners’ Association president Amir Hamzah Azizan told The Edge Financial Daily during an exclusive briefing organised by Malaysia Petroleum Resources Corp.

“Not all companies will survive because there is just not enough [work] to help them sustain. We should encourage the right partnerships to support and build capable local O&G players to compete and survive in this sphere,” he said.

To elaborate, Amir said when a big cake has shrunk to be a cupcake, the share would have to go to the efficient players so that they would be stronger to shape up the industry.


What’s the deal in RAPID?

April 15, 2017

Dateline 2017-03-04, The Star:

Tan Sri Shamsul Azhar Abbas, then president and CEO of Petroliam Nasional Bhd (Petronas), played host to several key personnel from Saudi Arabia’s state-owned oil company Aramco when they visited Malaysia.

He hired several helicopters, taking the group to get an aerial view of the upcoming 22,000-acre Pengerang Integrated Petroleum Complex (PIPC) in Johor in the hope of convincing them about the huge potential of the development.

According to an industry insider, Shamsul was hoping to replicate the business model adopted by Canada’s oil giant Progress Energy Resources Corp – which is famed for having a successful strategy in diversifying risk and improving the viability of its projects by paring down stakes in its 100%-owned projects to other significant oil players – on Petronas’ projects in Pengerang.

So, after showering the Aramco’s people with some Malaysian hospitality, the insider says, Shamsul began to share his vision for Petronas’ Refinery and Petrochemical Integrated Development, or Rapid, project.


Moody’s: Oil and gas loans less than 4% of 6 Malaysian banks’ total loans

April 14, 2017

Dateline 2017-03-03, The Star:

Oil and gas loans made up less than 4% of Malaysian’s six largest banks’ total loan portfolios at end-2016, says Moody’s Investors Service.

The international rating agency said on Friday  that by contrast, the asset quality of the banks’ Malaysian operations remained robust in 2016.

“While a few banks experienced marginal rises in loan impairments from borrowers in the commodities sector, signs of broad asset quality deterioration across the corporate and household sector were absent,” it said.

Moody’s also pointed that the full year 2016 results of the six largest Moody’s-rated Malaysian banks by total assets show continued asset quality deterioration from their overseas loan portfolios, weaker profitability from slower revenue growth, as well as higher credit costs.

The banks assessed in Moody’s report are: Malayan Banking Bhd (A3/A3 stable, a3); CIMB Group Holdings Bhd (Baa1 stable); Public Bank Bhd (A3/A3 stable, a3); RHB Bank Bhd (A3/A3 stable, baa3); Hong Leong Bank Bhd (HLB, A3/A3 stable, baa1); and AmBank (M) Bhd (Baa1 stable, baa3).