June 22, 2020
Dateline 2020-06-06, Reuters:
The chief executive of Malaysian state energy firm Petroliam Nasional Bhd, or Petronas, will soon step down after five years at the helm, state media reported on Saturday.
Wan Zulkiflee Wan Ariffin will resign as president and chief executive officer, and will be succeeded by an internal candidate, state news agency Bernama said, citing unidentified sources.
June 21, 2020
Dateline 2020-06-04, H2 View:
Alternative energy company MBR Global has announced plans to integrate hydrogen fuel cells in its micro-grid project that will supply power to two remote villages in Malaysia.
For the project, MBRG has ordered FCM801 and FCM802 fuel cell modules from UK-based fuel cell company Intelligent Energy.
The fuel cell systems will provide 1.2kW and 2.5kW of power respectively, into a renewable energy based microgrid to supply backup power to a number of homes which are off grid.
June 20, 2020
Dateline 2020-06-02, Steel Guru:
RH Petrogas has announced that its subsidiary RHP (Mukah) Pte. Ltd will not be seeking a further extension of the Block SK331 Production Sharing Contract when its current exploration period expires on 5 June 2020. The Group has arrived at this decision after taking into consideration the block’s geological risks and the magnitude of additional exploratory works required to further appraise the prospectivity of the block, as well as the current challenging business environment facing the oil and gas industry. As such, the Group will be proceeding to relinquish the block, which is located onshore Sarawak, East Malaysia.
June 19, 2020
Dateline 2020-05-30, Eurasia Review:
When a Chinese survey ship deployed close to a Malaysian-contracted oil exploration vessel in Malaysian waters in mid-April, tensions in the South China Sea went up a notch. United States and Australia sent warships to the area to send a message to China – that Southeast Asian nations should be free to exploit resources off their own coasts.
Yet Malaysia itself kept its counsel. The government scarcely issued a word of protest over China’s actions. And then, a month after the Chinese ship had arrived, the Malaysian-contracted drillship West Capella returned to port, and China’s Hai Yang Di Zhi 8 went on its way.
June 18, 2020
Dateline 2020-05-28, The Edge:
The Ministry of Energy and Natural Resources (KeTSA) via the Energy Commission (EC) will open a competitive bidding process for Large Scale Solar (LSS) programme by Malaysia Electricity Industry to Attract Renewable Energy Investment (LSS@MenTARI) starting on May 31.
Its Minister Datuk Dr Shamsul Anuar Nasarah said under LSS@MenTARI, some 1,000 megawatts (MW) of solar quota will be offered through the bidding process, and is open to fully-owned local companies or with at least 75 percent local shareholding for companies listed on Bursa Malaysia.
June 17, 2020
Dateline 2020-05-27, The Edge:
Battered by plunging oil prices, local upstream oil and gas services companies were hit by another piece of negative news last Friday – that Petroliam Nasional Bhd (Petronas) plans to cut its annual capital expenditure by 21%, despite having said earlier that it would keep to what it had budgeted for previously.
The announcement places Petronas among oil majors like Exxon Mobil, Royal Dutch Shell, Saudi Aramco and Petrobras that have announced capex cuts ranging from 20% to 30% this year.
June 16, 2020
Dateline 2020-05-22, FMT:
Fire broke out at a storage tank of an oil refinery in Port Dickson this afternoon.
A spokesman of the Negeri Sembilan Fire and Rescue Department said no casualties were reported.
He said 38 firemen from three stations, from Port Dickson, Teluk Kemang and Seremban 2, together with members of the Hazardous Material Unit (Hazmat), were sent to the scene after receiving an emergency call at 4.15pm.
“The fire affected a 10,000-litre capacity oil tank. Fire-fighting operations are ongoing.”
Meanwhile, Hengyuan Refining Company Bhd said the fire occurred at one of the crude tanks at its premises.
June 15, 2020
Change of pace. I’m presenting a free webinar at 10.30am on the 17th June, under the auspices of IESB. Brochure is more sparse than a typical IEM brochure, but hey? And they don’t have the presentation on their website. And they got my name wrong first try. Sigh, can you attend my courses, so that I can get all this under my iron fist?
June 14, 2020
Dateline 2020-05-22, OE Digital:
Malaysia’s Uzma Energy Ventures has said that the Tanjong Baram small field risk service contract between Petronas and Uzma & EnQuest joint venture has been terminated.
The contract’s objective was to develop and produce petroleum from the Tanjong Baram field, offshore Sarawak, Malaysia.
It was signed in March 2014, and was been terminated in March 2020, but Uzma informed of the termination on Friday, May 22, as it had to wait for Petronas’ approval.
Uzma said that it, together with Enquest, exercised its right for the mutual termination of the Tanjong Baram small field risk service contract
with PETRONAS, following the occurrence of “economic cut-off” in accordance with the terms of the contract.
June 13, 2020
Dateline 2020-05-22, The Edge:
Petroliam Nasional Bhd, which reported a 68% year-on-year fall in its first quarter profit after tax (PAT) today, is slashing its capital expenditure for the financial year ending Dec 31, 2020 by 21% from its initial estimate of around RM50 billion, as it faces challenges driven by the pandemic outbreak that has led to a supply-demand shock in the oil market this year.
The national oil giant said it will strive “as far as practically possible” to minimise the impact of the cuts to its Malaysian capex programme, previously planned at RM26 billion-RM28 billion this year.