Terengganu received RM1b in oil royalty last year, says MB

May 17, 2019

Dateline 2019-04-03, Malay Mail:

Terengganu received RM1.053 billion in oil royalty payment from the federal government last year, Mentri Besar Dr Ahmad Samsuri Mokhtar told the State assembly today.

He said the payment was made in stages, with RM603 million made before the 14th general election, RM100 million on Aug 21, RM200 million on Oct 8 and RM150 million on Dec 12.

He was responding to an oral question from Bazlan Abdul Rahman (BN-Batu Rakit) on the petroleum and gas royalty given to Terengganu last year.

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PM: Johor govt aware of STS transfer hub project

May 16, 2019

Dateline 2019-04-03, Malaysia Reserve:

The Johor government is aware of the US$180 million (RM734.4 million) ship-to-ship (STS) transfer hub development in the waters of Johor, said Tun Dr Mahathir Mohamad.

The prime minister (PM) said Johor Mentri Besar Datuk Osman Sapian is aware of the project and the development planned in the waters of the state.

“He had mentioned about this when he met me yesterday. This project has been discussed over a long time…I thought everyone knows about it,” he said at the signing ceremony between KA Petra Sdn Bhd and Hutchison Port Holdings Ltd in Putrajaya yesterday.

Dr Mahathir was responding to claims by Gerakan Muafakat Johor that the Johor state government has no knowledge of the project.

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Diving 2019-03 Morotai 2 of 8

May 15, 2019
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Balancing energy cost and sustainability

May 14, 2019

Dateline 2019-04-03, The Star:

There has been some discussion in the media recently on electricity tariff and how the downward movement of international coal and gas prices in recent months should be reflected in lower tariffs. This has been suggested by various bodies representing both domestic and non-domestic consumers.

Taking a step back, it is perhaps a good time to review the entire tariff setting process and how fuel prices affect this.

This brings us to imbalance cost pass through (ICPT) that has been adopted by many other countries to maintain stability in domestic markets and protect them from international volatility. Usually the adoption of an ICPT mechanism is the first step towards liberalisation of the utility market, as mentioned by industry observers.

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Read more at https://www.thestar.com.my/news/nation/2019/04/03/balancing-energy-cost-and-sustainability/#BJCBUS9mRShCQtpV.99

 

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Petronas to have Malaysia’s second floating LNG facility ready by Q1 2020

May 13, 2019

Dateline 2019-04-02, Reuters:

State-owned Petroliam Nasional Bhd, or Petronas, expects to have its second floating liquefied natural gas (LNG) facility in Malaysia ready by the first quarter of next year, its chief executive, Wan Zulkiflee, told the LNG2019 conference in Shanghai on Tuesday.

Malaysia had said in October last year that the facility would be operational by July 2020.

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Dr M: ‘Buy in Singapore’ if you want cheaper gas

May 12, 2019

Dateline 2019-04-02, Malay Mail:

Malaysia will not follow Singapore in cutting liquefied natural gas (LNG) prices, Prime Minister Tun Dr Mahathir Mohamad said today.

When asked about the republic’s move to lower prices in line with the commodity’s global decline, Dr Mahathir said LNG price was already low in Malaysia due to price support from the government.

“Singapore has reduced its prices? Then please buy in Singapore.

“We are already selling it at a subsidised price and it is very low — lower (prices) than even in the big oil-producing countries — what more can you ask?” he said in jest.

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Malaysia’s Petronas is Looking Near and Far for Gas and Oil

May 11, 2019

Dateline 2019-04-01, JPT:

As Malaysia’s largest company, chief revenue generator, and primary energy producer, Petronas has a keen interest to develop hydrocarbons wherever it can find them.

This means Petronas is looking within its home country, around Southeast Asia, and to the Americas in an effort to maintain its forecast average yearly production of 1.7 million BOE/D over the next 5 years. It is also exploring new partnerships with other global operators that offer regional and technical expertise.

Petronas, whose upstream portfolio consists primarily of natural gas, wants to both accelerate its exploitation of the hydrocarbon and add more oil to the mix.

Back home, the integrated company—the world’s third-largest LNG seller—continues to target domestic gas to leverage its control of the gas value chain all the way to its petrochemical and LNG liquefaction plants. Petronas’ LNG facilities include its 30-million tonnes/annum (mtpa) complex in Sarawak, and the world’s first floating LNG facility, the 1.2-mtpa PFLNG Satu. A second floating LNG facility is expected to be ready for sail away by 2020.

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