Rafizi’s day in court will put Sapura Energy under scrutiny

August 8, 2022

Dateline 2022-06-05, FMT:

Former Sapura Energy Berhad CEO Shahril Shamsuddin, upset with remarks by Rafizi Ramli, has taken the former Pandan MP to court.

Rafizi had issued the statements because he disagreed with Najib Razak’s suggestion on March 21 that the government inject funds to save Sapura Energy.

He said he would defend his remarks about Shahril’s remuneration in court, adding that what he had said was to “protect public interest”.

PM Ismail Sabri: Oil and gas industry is backbone of Terengganu economy

August 5, 2022

Oo, looks like another 1MDB in the making, how do I get in at the ground floor?

Dateline 2022-06-04, Malay Mail:

Terengganu has undergone a rapid development transformation process with the implementation of various types of projects worth hundreds of millions of ringgit, said Prime Minister Datuk Seri Ismail Sabri Yaakob.

He said the oil and gas industry, especially in Kerteh and Kemaman, was the backbone of the Terengganu economy, which not only attracted many foreign investors but also increased local employment opportunities.

Rising tide does not lift all boats in O&G sector

August 4, 2022

Yup, I and some of my fellow OGSE seem to have been set adrif, ala USS Indiapolis. At least the sharks just ate you, not toy with you.

Dateline 2022-06-03, The Edge:

Given the high crude oil prices at above US$90 per barrel, not all domestic oil and gas (O&G) companies made handsome profits in the first quarter of 2022 (1Q22), although an increasing number of analysts have turned optimistic on the sector’s prospects ahead.

A random check on 35 O&G-linked companies by The Edge revealed that 23 companies or 66% of them posted year-on-year growth while 22 or 63% posted quarter-on-quarter improvements. However, 12 companies or 34% were still loss making in the quarter.

Tap into huge potential of ‘mini’ power plants

August 3, 2022

Dateline 2022-05-30, FMT:

I say we go for Rolls Royce mini fusion (or fission) plants.

The government is aiming to achieve 40% renewable energy capacity by 2035 with a focus on green energy, including solar, hydro, and bio energy.

This aim, as outlined in the Malaysia Renewable Energy Roadmap (MyRER), is noble and progressive.

The reality is that while renewable energy is the buzzword for governments, NGOs, and climate change experts alike, it is not a new concept in Malaysia.

For many years, the government has supported efforts to increase renewable energy uptake in Malaysia.

Sarawak aiming to cut greenhouse gas emissions by 45% in eight years

August 2, 2022

Our children are still screwed.

Dateline 2022-05-26, The Star:

The Sarawak government is conducting a climate change policy study with a view to developing strategies for a significant reduction of greenhouse gas emissions in the state.

Deputy Premier Datuk Amar Awang Tengah Ali Hasan said it would also help the state draw up low-carbon society blueprints for its cities and towns.

“It will also include adaptation strategies to address climate change phenomena such as floods, droughts and threats to biodiversity,” he told the state assembly in his winding-up speech on Thursday (May 26).

Serba Dinamik receives writ of summons from Malaysian Trustees Bhd, confirming The Edge’s story

August 1, 2022

Can be retitled as ‘I told you so’.

Dateline 2022-05-26, The Edge:

Serba Dinamik Holdings Bhd said on Thursday (May 26) that it received a writ of summons from Malaysian Trustees Bhd on May 18.

The company was responding to a Bursa Malaysia query seeking clarification on The Edge’s story entitled: “Serba Dinamik slapped with suit seeking repayment of RM100m after defaulting on debt papers”.

In a filing with Bursa on Thursday, the oil and gas service provider reiterated that it is taking steps to procure the support of Malaysian Trustees regarding the application for a court-convened meeting of its creditors and the application for a restraining order to be granted over the company.

IEM Shout Out – Internships 2022-07

July 29, 2022

For those of you looking for internships, IEM has the following advert for internships. Contact sarita@iem.org.my, or call +60379684011 +6079684022 for an appointment. Tell them Ir. Wata said, you want to be Special Assistant to VPs Razak and Yau 🙂 (seriously, don’t say that).

Renewable energy trading within Asean power grid important for sustainability – TNB

July 28, 2022

Dateline 2022-05-26, NST:

Collaboration in energy trading, especially generated from renewable sources among the Asean power grid will be important for sustainability and energy adequacy, said Tenaga Nasional Bhd (TNB).

Dr Noor Miza Muhamad Razal, project director at the Project Management Office Sustainability Pathway 2050 Strategy and Ventures Division, said grid-interconnection would be good for power systems anywhere beyond energy transfer as it offers a measure of stability to the systems.

However, this depends on the respective countries whether they consider internal consumption of renewable energy (RE) as better when it comes to addressing the sustainability agenda, she said during a virtual briefing on TNB’s Sustainability Pathway today.

Petronas: Decarbonising fossil fuel the way to go

July 27, 2022

Dateline 2022-05-26, The Edge:

OVER the years, there has been much debate on whether low-carbon solutions such as carbon capture technology are relevant in the light of renewable energy adoption and the energy transition.

The recent energy crunch, which saw oil and gas prices skyrocket amid high demand, and pushed some countries to even revisit coal for power generation, has proved that fossil fuel use cannot be avoided in the near term.

This means it is even more pertinent to explore technologies that allow carbon reduction and offset during the energy transition, says Petroliam Nasional Bhd (Petronas) vice-president and chief sustainability officer Charlotte Wolff-Bye.

Get going on old plan for targeted fuel subsidies, says economist

July 26, 2022

Why is it that petrol dealerships say they always lose, no matter what the government implements?

Dateline 2022-05-23, FMT:

The government should get going with its plan for targeted fuel subsidies which was hatched 10 years ago, says an economist, amid fears over the rising costs of subsidies.

Universiti Tun Abdul Razak economist Barjoyai Bardai said disputes over the subsidy mechanism had held back the plan, particularly over who qualified for the fuel subsidies based on engine capacity.