Analysts have mixed views on Petronas

December 20, 2016

Dateline 2016-11-17, The Star:

Analysts are generally mixed on the performance and outlook of Petroliam Nasional Bhd (Petronas) going forward, amid the uncertainty that blankets the global oil and gas (O&G) sector.

Hong Leong Investment Bank Research (HLIB) said on Thursday that the O&G player registered a 12.7% higher core net profit at RM7.1bil in the third quarter of financial year 2016, on a year-on-year basis (YoY). However, its core net profit for the first nine months of financial year 2016 (9MFY16) dropped to RM24.8bil, down 19.4% YoY.

Core profit after tax for the upstream segment declined by 32.1% YoY in 3QFY16 mainly due to lower realised oil prices in the quarter, consistent with global oil price trend and lower LNG volume due to lower trading volume. This is despite an increase in production volume YoY due to resumption of operations in of Sabah Sarawak Gas Pipeline, higher facilities uptime in Malaysia and Canada and better production from Indonesia and Australia.

…

Leave a Comment » | Malaysia | Tagged: | Permalink
Posted by Wata

Sarawak’s right to repossess petroleum resources

December 19, 2016

Dateline 2016-11-16, FMT:

By Suarah Petroleum Group

Sarawak came together with Sabah, Singapore, and Malaya, supposedly partners of equal status, to form Malaysia pursuant to the Malaysia Agreement 1963 (MA63), with its territory, including its own continental shelf and all attached resources, intact.

The assurances of this fact and intent in the new federation were stated clearly by the new prime minister himself (fig.1), to allay any doubt as to the nature of the union between the parties concerned: “…When the Borneo territories become of Malaysia, they will cease to be a colony of Britain, and they will not be a colony of Malaya – I thought I made it clear – they will be partners of equal status.”

…

Leave a Comment » | Malaysia, Malaysian election | Permalink
Posted by Wata

Saturday Star 2016-12-17 – Job Opportunities

December 19, 2016

Happy Rogue One. Be inspired by Rogue One, come discover ingress, join the rebellion by contacting.

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.

  • 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 a mech inspector, for a job in China. If you are in between jobs, contact me. As always, there will be a serious pay cut.
  • I’m looking for jobs for 1Q2017. Send me your POs.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? Whatever employees Rabbit B and Rabbit S are eating, looks healthy.

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)

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

Petronas 8th best employer in Asia Pacific O&G industry

December 18, 2016

Dateline 2016-11-15, FMT:

Petronas has been rated as the eighth best employer among major companies in the oil and gas industry in Asia Pacific.

Oil and gas industry talent recruitment service provider Rigzone, which released its 2016 Ideal Employer Survey findings Monday, rated Shell as number one, followed by Chevron, ExxonMobil, BP and Halliburton.

The 2016 Ideal Employer Survey attracted responses from 8,400 people in more than 100 countries.
More than 3,000 oil and gas industry companies were named in the survey, according to a press release from Rigzone.

…

Leave a Comment » | Malaysia, oil and gas | Tagged: , | Permalink
Posted by Wata

Petronas profit jumps quarter-on-quarter on lower impairment costs

December 17, 2016

Dateline 2016-11-16, Reuters:

Malaysian state-owned oil firm Petroliam Nasional Bhd (Petronas) [PETR.UL] said on Wednesday its third-quarter profit after tax rose to 6.1 billion ringgit ($1.40 billion) from 1.6 billion in the second quarter.

The jump was due to lower net impairment on assets and higher average prices for most products, although it was partially offset by lower sales volumes, it said in a statement.

Revenue for the quarter stood at 48.7 billion ringgit, a 1 percent gain from the preceding quarter.

“The current oil price environment continues to pose significant challenges to the industry and the outlook remains uncertain,” Petronas said.
…

Leave a Comment » | Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata

Petronas to add Kimanis crude to Malaysian crude oil basket from January 2017

December 16, 2016

Dateline 2016-11-09, Reuters:

Malaysian state oil firm Petronas will add its Kimanis crude into the current crude oil basket from January, changing the way it sets its monthly crude official selling prices (OSP), according to a document sent to customers and seen by Reuters.

Petronas will add the Kimanis crude grade to the basket that is currently made up of its three flagship grades Labuan, Kikeh and Miri Light crude.

The oil firm will continue to price its crude against dated Brent and will publish monthly OSPs by adding an alpha to the monthly average of Platts dated Brent.

 

 

Leave a Comment » | Malaysian election, oil and gas | Tagged: , | Permalink
Posted by Wata

No decision yet on building nuke power plants in M’sia

December 15, 2016

Build, already.

Dateline 2016-11-04, Daily Express:

The government has yet to make any decision on the construction of nuclear power plants in Malaysia, said Minister in the Prime Minister’s Department Datuk Seri Nancy Shukri.

Although the Economic Transformation Programme (ETP) targeted the nuclear power plant to be operational by 2021, she said the date would be postponed as the government needed to take into account latest developments and prevailing sentiments at home and abroad, especially regarding the impact of March 2011 tsunami on the Japanese nuclear power programme.

“Initial information obtained from the feasibility study shows that the timeline required for the implementation and completion of the nuclear power plant is at least 11 years from the date the government made the decision,” she said when replying to Datuk Noor Ehsanuddin Mohd Harun Narrashid (BN-Kota Tinggi) at the Dewan Rakyat sitting Thursday.

…

Leave a Comment » | Malaysia, nuclear | Tagged: | Permalink
Posted by Wata

Marketing Rounds – Recruitment Drive at PP(T)SB

December 14, 2016

In addition to the IEM visit to PP(T)SB, we also helped engineers maneuver there way through the thickets of the IEM membership process. Well, we thought we help, though the listener may have had other ideas. tl;dr: If your application to the IEM/BEM has been quiet for a month, call.

Leave a Comment » | Malaysia, oil and gas | Tagged: , , , | Permalink
Posted by Wata

Setting up gas distribution network

December 13, 2016

I like the photo accompanying the article. Were the reporters give a heads up to pose?

Dateline 2016-11-02, Borneo Post:

The state government plans to introduce legislation on the distribution and reticulation of gas in Sarawak either at the next State Legislative Assembly (DUN) sitting this Nov 21 to 30, or the one after that.

Chief Minister Datuk Patinggi Tan Sri Adenan Satem said the proposal was made in view of the distribution and reticulation of gas in the state for consumers’ usage not being properly regulated.

“There appears to be a vacuum and there’s no proper law with regard to the distribution and reticulation of gas in the state. This is a state power within Sarawak and we intend to introduce the legislation in the coming DUN sitting, or the one after that,” he said during a press conference held after the signing of contract on ‘E6 Field Development Project (Fabrication of E6DP – A Substructure and Topsides) for Sarawak Shell Bhd’ between the management of Shell Companies in Malaysia (Shell) and Brooke Dockyard and Engineering Works Corporation (Brooke Dockyard) at a hotel here yesterday.

…

Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: | Permalink
Posted by Wata

Saturday Star 2016-12-10– Job Opportunities

December 12, 2016

Happy Ingress L9. Be inspired by Rogue One, come join the rebellion, contact me.

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.

  • 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 putting together a porfolio of engineers for a waste water oleo treatment plant. If this is your line of work, send your CVs in. Note that I prefer engineers in between jobs, as there is a serious pay cut involved if the job goes ahead.
  • I’m looking for a mech inspector, for a job in China. If you are in between jobs, contact me. As always, there will be a serious pay cut.
  • I’m looking for jobs for 1Q2017. Send me your POs.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? Whatever employees Rabbit B and Rabbit S are eating, looks healthy.

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)

Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata

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