Chemical Engineers never forget.
Anniversary – Bhopal Disaster
December 3, 2016
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Posted by Wata
Tabung Haji’s oil and gas woes
December 2, 2016Don’t know about you, but I’m not taking my money out of Tabung Haji.
Dateline 2016-10-25, The Edge:
LEMBAGA Tabung Haji does not seem to have had much luck in investing in the oil and gas sector. The pilgrim fund is probably among the biggest victims of the beleaguered O&G outfit Perisai Petroleum Teknologi Bhd.
Bluntly put, Perisai is just one of Tabung Haji’s many failed investments in the sector, which is experiencing a severe downturn.
On Oct 4, Tabung Haji sold 1.75 million Perisai shares, trimming its equity interest to 76.43 million shares or 6.06%.
That day, Perisai’s share price traded between 8.5 sen and 10 sen, which means at the higher end, the pilgrim fund would have got a mere RM175,000 from the share sale.
Ironically, prior to the sale of the 1.75 million shares, Tabung Haji’s last transaction in Perisai shares was almost exactly a year ago — on Oct 7, 2015 — when it sold 600,000 shares. The pilgrim fund’s investment loss would not have been as bad if it had sold more shares then.
To recap, Tabung Haji surfaced as a substantial shareholder in Perisai on Dec 23, 2014, after it bought 1.2 million shares, bumping up its holding to 79.88 million shares or 6.7%.
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Leave a Comment » | investment, Malaysia, oil and gas | Tagged: Perisai Petroleum Teknologi, Tabung Haji | Permalink
Posted by Wata
Malaysia’s Petronas to pay 13 bln ringgit government dividend in 2017
December 1, 2016Dateline 2016-10-21, Yahoo! (yodel it):
Malaysian state oil company Petroliam Nasional Berhad will pay the government a dividend of 13 billion ringgit ($3.11 billion) next year, lower than 2016 levels, the country’s second finance minister Johari Abdul Ghani said on Friday.
Petronas, as the company is known, has said it will pay 16 billion ringgit to the government this year.
Addressing reporters after tabling the country’s 2017 budget, Johari also the budget was based on an oil price assumption of $45 a barrel.
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Marketing Rounds – Brunei
November 30, 2016Don’t confuse a donkey pump with Donkey Kong. Nintendo will be really upset. BTW, can someone gift me the NES classic edition?
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Dr M vows Kelantan will get oil royalties
November 29, 2016Yeah, baby.
Dateline 2016-10-15, FMT:
In an effort to win the support of the Kelantanese, former premier Dr Mahathir Mohamad has vowed to pay oil royalties to the state government should the Barisan Nasional Federal Government be defeated.
Speaking to a 5,000-strong crowd at a ceramah here last night, Dr Mahathir gave his guarantee that Kelantan would enjoy the oil royalties which the state government had been demanding.
“If we win, then we can give the royalties,” he said to cheers from the crowd.
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Saturday Star 2016-11-26– Job Opportunities
November 28, 2016Happy belated Palawan Week, and happy catch up week.
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 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? Any weight loss diet.
Let’s get a bit nostalgic with the book selection.
Wetter, Louder, Stickier: A Baby Blues Collection (Baby Blues Scrapbook), BBXX: Baby Blues: Decades 1 & 2
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Shout Out – 2016-12 MOGEC LUNCH AND TALK 2016
November 27, 2016MOGEC NETWORKING LUNCH AND TALK 2016 by Tan Sri Dato’ Seri Haji Megat Najmuddin Bin Datuk Seri Dr Haji Megat Khas on “Whither Malaysia – Where Are We Heading?”, on 7th December 2016 @ RSGC, Kuala Lumpur.
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Shell said to weigh sale of over $1b Malaysia LNG stake
November 27, 2016Hibiscus or CLIQ in the bidding?
Dateline 2016-10-14, The Star:
Royal Dutch Shell Plc is considering a sale of its stake in a Malaysian liquefied natural gas export plant, which could fetch more than $1 billion, people familiar with the matter said.
The Anglo-Dutch energy giant is gauging interest in its 15 percent stake in MLNG Tiga Sdn., which owns an LNG terminal in Sarawak on the island of Borneo, according to the people.
Malaysia’s state-owned Petroliam Nasional Bhd., which holds 60 percent of MLNG Tiga, has pre-emptive rights on the stake, one of the people said, asking not to be identified as the process is private.
The sale may draw interest from private-equity firms, the people said. MLNG Tiga, set up in 1995, is the third plant to be built in the Petronas LNG complex in Bintulu, Sarawak, according to its website.
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Palm oil-based drilling fluid soon
November 26, 2016Interesting. Where can I invest?
Dateline 2016-10-13, The Star:
A local oil and gas company is lending its industry expertise to Universiti Teknologi Malaysia (UTM) to develop what is believed to be the world’s first palm oil-based drilling fluid.
The collaboration between the university’s UTM-MPRC Institute for Oil and Gas, which is a recognised industrial centre of excellence, and Lekir Energy Sdn Bhd, is aimed at developing the green technology from one of Malaysia’s natural resources and provide a more environmentally-friendly alternative.
UTM deputy vice-chancellor (research and innovation) Prof Dr Ahmad Fuzi Ismail said the revolutionary fluid would take up two to three years to develop with the complementing efforts and expertise in renewable energy from both parties.
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Hibiscus to buy Shell’s operatorship of four oil fields offshore Sabah
November 25, 2016And that settles my thoughts as to when Hibiscus was going to spend its money, and who would want to buy the Shell Sabah blocks.
Dateline 2016-10-12, The Star:
Shell has reached an agreement to sell its 50% equity interest in the 2011 North Sabah enhanced oil recovery (EOR) production sharing contract (PSC) to Hibiscus Petroleum Bhd’s indirect unit SEA Hibiscus Sdn Bhd for US$25mil (RM104.8mil).
The amount excludes post completion adjustments and reimbursements to Shell.
Currently, Sabah Shell Petroleum Co (25%) is the operator, partnering with Shell Sabah Selatan (25%) and Petronas Carigali Sdn Bhd (50%) in the PSC, which includes the Labuan Crude Oil Terminal, and the fields of St Joseph, South Furious, SF30 and Barton, all located offshore Sabah.
Total oil production (on a 100% PSC basis) averaged 18 kilobarrels (kbbls) per day last year, according to statements from Shell and Hibiscus.
Leave a Comment » | investment, Malaysia, oil and gas | Tagged: EOR, Hibiscus, North Sabah, PCSB, Shell, SSPC | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 