MOGSEC offers good platform for O&G firms to showcase products, services

November 10, 2016

If you parse the sentence incorrectly, you wonder why Sharifah is called the First Lady. Is her husband Mr. President now?

Dateline 2016-09-29, NST:

Since it was first held in 2012, the Malaysian Oil and Gas Services Exhibition and Conference (MOGSEC) has become a prominent showcase for the local oil and gas (O&G) industry.

Jointly organised by Malaysian Oil and Gas Services Council (MOGSC) and Malaysian Exhibition Services Sdn Bhd, the third edition of the exhibition this year promises another excellent platform for local products and services providers to showcase their capabilities.

The event will also demonstrate the country’s strategic position as a hub for O&G services.

MOGSC first lady president Sharifah Zaida Nurlisha said MOGSEC 2016 is an excellent platform for those in the industry to update themselves on technological front as it will showcase local and home-based expertise, products and services from service providers in the oil, gas and energy industries.

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Marketing Rounds – Write Up from an Intern

November 9, 2016

I got one of my interns to write up their experiences with IGL. The following is posted verbatim:

I believe that everything that happens in our life, happens for a good reason. After applying for a few companies and not getting a positive reply, I received an email from Ir.Razmahwata who is the director of IGL Services Sdn Bhd. I was thrilled and thankful that I have finally secured a place for my internship. Many of my friends discouraged me from joining a small company since we will get a smaller allowance..haha..:) But for me personally, internship is not about earning money, it’s about earning valuable experiences. Therefore, I accepted Ir.Razmahwata’s offer. Just like many other students, I was really nervous thinking whether I will be able to adapt to the real working environment. However, the moment I entered my office, I was welcomed by Ir.Razmahwata with a pleasant smile followed by my other colleagues. I took around a week to adapt my new atmosphere. I learnt how to work under stress, multitask, the importance of communication skills, responsibility but I also learnt that the most important criteria for a successful person is the right attitude. Right attitude is extremely important not only because it will make people really comfortable being around us but it also enables us to learn new things in life easily.

Being an intern in IGL Service Sdn Bhd has been a great experience for me. This is because the employees were really friendly with each and other and they were always willing to help each and other even when they are busy. I was really impressed with each one of them who were always willing to guide me and correct me when I am wrong. Moreover, Ir.Razmahwata has been a great inspiration to me. The desire to become a successful engineer grew stronger after talking to him and listening to his advice. Furthermore, all IGL Service Sdn Bhd employees consider themselves as a part of a big family. This has made my internship in IGL Service Sdn Bhd more fun and interactive. I will definitely miss being an intern in IGL Services Sdn Bhd because it has given me so many beautiful memories to be cherished for a lifelong.

Even though saying thank you is not enough to describe my gratitude towards IGL Services Sdn Bhd, I would still  want to thank Ir.Razmahwata for accepting me as an intern in the company and guiding me and thank you very much to all my colleagues who accepted me as a part of IGL family. IGL Services Sdn Bhd has made my internship experience really valuable and great.

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Malaysian banks brace for hit from oil and gas sector, but not as exposed as Singapore lenders

November 8, 2016

Dateline 2016-09-26, Straits Times:

Malaysian lenders are bracing for a hit to profits this year as they bump up provisions for sour loans to the local oil and gas services sector that has been battered by the slump in energy prices and cutbacks in projects.

The problem mirrors pain playing out in neighbouring Singapore, where the collapse of oilfield services firm Swiber Holdings Ltd has stoked concerns about the size of the city state’s biggest lender DBS Group Holdings’ exposure to the industry.

Last month, Malaysia’s Perisai Petroleum Teknologi , an offshore oil and gas services provider, said it was aiming to renegotiate terms with bondholders on a S$125 million bond.

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Saturday Star 2016-11-05– Job Opportunities

November 7, 2016

Happy recover from baaaad flu week. Why didn’t you tell me there was an influenza vaccine around?

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.

  • A mate of mine is looking for a MD/EngMan type person to help run his engineering company (the main business is skid manufacturing). He can’t handle the work volume, so you know that his oil & gas company is bucking the trend, and has a bright future ahead. If I know you, send your CV’s to me. If I don’t know you, send your CV along anyway, but note I will contact your references. I am not getting a commission for this ad, you know.
  • 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 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, Bedlam

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Oil bet gone wrong: rusting tankers and rigs clog up Asian waters

November 6, 2016

Dateline 2016-09-22, Reuters:

Some 15 km (9 miles) from the bustling port of Singapore, a rusting tanker as big as the world’s largest aircraft carriers lies idle in a muddy estuary flanked by mangrove trees on the coast of southern Malaysia.

The 340-metre (1,115 ft) “FPSO Opportunity”, a hulking so-called Floating Production, Storage and Offloading (FPSO) vessel capable of drilling for oil in deep waters, is currently surplus to requirements along with scores of other rigs, tankers and support vessels in an era of cheap oil.

The fleet of mothballed giant vessels anchored around Southeast Asian waters is the physical fallout of an oil downturn heading into its third year, and a stark reminder of how badly the industry miscalculated market conditions.

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Extract from “Tuah Jebat” – Warisan Perintis

November 5, 2016

 

Unit Tindakan Khas (UTK) telah mengakhiri era kewujudan mereka apabila termaktub semua perjanjian PSC yang selebihnya. Pada masa mereka merangka dan merundingkan PSC, yang turut tertubuh ialah Jabatan Pemasaran Antarabangsa atau “International Marketing Department (IMD)” bagi mengagih minyak mentah ke pasaran antarabangsa dan Jabatan Pemasaran Dalam Negeri atau “Domestic Marketing Department (DMD)” untuk penjualan bahan petroleum di dalam negeri, khususnya melalui stesen-stesen servis.

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Visit here and buy books so I have some spending money.

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Posted by Wata

Bad days for national oil companies to continue, Fitch says

November 5, 2016

Dateline 2016-09-21, Zee Biz:

The National Oil Companies (NOCs) in South and South-East Asia unlikely to return to positive free cash generation in the next two years, said a Fitch Ratings report.

Most of the NOCs reported poor financial result for the first half or first quarter ended on June 30 due to a fall in average oil and gas prices from a year ago. Revenue and EBITDA declined over this period for Malaysia’s Petroliam Nasional Berhad (PETRONAS); Thailand’s PTT Public Company Limited; and India’s Oil and Natural Gas Corporation Limited (ONGC) and Oil India Limited.

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Petronas’ oil rig-making unit stays in the red for fourth straight quarter

November 4, 2016

Dateline 2016-10-28, Nikkei Asian Review:

Malaysia Marine and Heavy Engineering, an oil rig builder controlled by state oil and gas company Petronas, suffered its fourth consecutive quarter of losses due to fewer and lower-valued projects.

Net loss for the three months ended September 30 totaled 4.5 million ringgit ($1.1 million) compared to net profit of 17.0 million ringgit a year earlier, the company said. Quarterly revenue fell nearly 24% year-on-year to 333.5 million ringgit from 436.3 million ringgit.

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International schools hit by oil & gas crash, says ISC

November 4, 2016

You know what happened to the schools in Kerteh once the big spending expats were relocated out? Now the whole nation know what it feels like.

Dateline 2016-09-20, The Pie News:

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Enrolments will be hit as parents sending their children to international schools employed in professions related to the these industries are made redundant, the group said.

The Middle East in particular is expected to be affected by 1-2% fall in enrolments, according to ISC Research.

“Some have cut back on their staffing for this new year”

Malaysia and Singapore are also likely to feel the brunt of dropping oil & gas prices, with schools that enrol a large proportion of expatriates over locals more likely to be affected, said Richard Gaskell, director for international schools at ISC Research.

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Malaysian Energy Firm Petronas Plans Several Hundred More Job Cuts

November 3, 2016

Out of date, but be scared.

Dateline 2016-09-20, Wall Street Journal:

Malaysia’s national oil company is looking to cut several hundred more jobs as it continues to grapple with weak oil prices, according to two people familiar with the matter.

Petroliam Nasional Bhd., known as Petronas, is planning the job cuts at its publicly listed operations, according to the people.

The company, which provides most of the government’s oil and gas revenue, said in March that it was cutting 1,000 jobs. This came after Petronas said it would slash spending by some $11.4 billion over the next four years, following similar moves by major global oil companies including Royal Dutch Shell PLC facing the crude-price downturn.

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