RAM Rating: Varying fortunes for local oil and gas players

July 16, 2016

Dateline 2016-06-14, FMT:

RAM Ratings has indicated varying fortunes for local oil and gas (O&G) players.

“Among the 31 listed domestic O&G players, more than two-thirds posted year-on-year (y-o-y) declines in pre-tax profit last year, with about a quarter incurring losses.

“However, their fortunes vary according to the sub-segment or type of services within the sector,” said RAM Ratings’ Head of Consumer and Industrial Ratings Kevin Lim, in a statement today.

Based on their performance, the aggregate drop in revenue last year came up to a moderate 18% although pre-tax profit plummeted 57%, exacerbated by the impairment of assets and intangibles.

The collapse in crude prices and persistently weak outlook led to the cancellation of USD400 billion worth of projects for the global oil and gas (O&G) sector.

RAM Ratings said Petronas, too, has been scaling back both its capital expenditure (capex) and operational expenditure (opex) since 2015, as have other international oil companies operating in Malaysia.

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Shell’s first TLP set for Malikai field duty

July 15, 2016

Dateline 2016-06-13, NST:

Shell Malaysia has unveiled the country’s first tension-leg platform (TLP), which is set to sail to Malikai field offshore Sabah soon. The platform was designed and fabricated by Malaysians. Shell holds a 35 per cent stake in the Malikai project, with Conocophillips and Petronas Carigali owning 35 and 30 per cent, respectively. “The deepwater business is under pressure like others in the industry. Now that we have built this capability in Malaysia, we have a responsibility to sustain these skills and talent so that they stay relevant. “It will take strong collaboration and partnership to open up new frontiers and deliver value and create wealth for Malaysia, as well as the companies participating in these ventures.

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IEM Shout Out – Technical Visit to PETRONAS Penapisan Sdn Bhd

July 14, 2016

This is a shout out for the IEM. My technical division will be hosting a trip to PETRONAS Penapisan (Terengganu) Sdn Bhd. It will be on the 25th August, 2016. You will be anointed with 3 CPD / PDP hours. If you with to visit the site, come and register.

PETRONAS Penapisan (Terengganu) Sdn Bhd – PP(T)SB was incorporated in 1982 to meet a need to process and add value to the indigenous crude from offshore Terengganu, as well as to secure reliable, efficient, safe and cost effective supply of refined petroleum products to the PETRONAS Group of Companies. PP(T)SB has proven its capability in providing efficient, safe, reliable uninterrupted supply of petroleum products such as gasoline, LPG, diesel, jet fuel, naphtha and Low Sulphur Waxy Residue (LSWR) to its domestic customers and also exported to several overseas destinations.

 

Register here and get the flyer here.

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Marketing Rounds – Tarawikh Places

July 13, 2016

During Ramadhan, I had the opportunity to go to Surabaya for work, and explore some new tarawikh stops.

IMG_20160620_184151

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Shout Out – HAZOP Training 2016/08

July 12, 2016

My organization (not IEM this time) has a course on HAZOP on the 16th August, 2016. It is worth 6.5 CPD points, and held at (wait for it) Hilton PJ. Since I’m giving it, I expect hoards will have to be turned away at the gates. And it’s a big room, so I need to fill the seats.

A Hazard and Operability study is a formal and systematic and detailed examination of the process and engineering intentions of new or existing facilities which assesses the hazard potential and effects on the facility as a whole when operation is outside of the design envelope, or individual items of equipment malfunction.

This course is designed to educate participants in the HAZOP process from the perspective of a HAZOP team member. It is meant to provide both instruction and workshop sessions so that the participants:

  • Are familiar with the concept of ‘risk’
  • Are familiar with the theory behind HAZOP
  • Are familiar with the actual HAZOP workshop process
  • Have expectations as to what the HAZOP will (and won’t provide)
  • Understand what deliverables can be expected from a HAZOP
  • Have the opportunity to participate in HAZOP exercise in a safe environment
  • Opportunity to share HAZOP experiences

At the end of the session, the participants should:

  • Understand the responsibilities of all parties in the HAZOP
  • Have experience in a HAZOP session.
  • Understand the outcomes from a HAZOP session

Wata has 19 years of experience in the oil and gas industry, in both design and operations.

Register here.

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Saturday Star 2016-07-09– Job Opportunities

July 11, 2016

Eid Mubarak.

Donate to your favorite charity (for this month, choose other than 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’m looking for fresh meat-ish, to help with a peak work period.
  • Nothing in the papers today.
  • I’m looking for jobs for 4Q2016. 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

1 Comment | Malaysia, oil and gas | Permalink
Posted by Wata

Anniversary – Seveso Disaster

July 10, 2016

Process Safety Engineers never forget.

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Malaysia facing surplus of gas as output jumps

July 9, 2016

Dateline 2016-06-13, Interfax:

Malaysia’s domestic gas supply could jump by 25% over the next five years, but with the fuel losing market share to coal in the power mix, the challenge will be finding a use for it.

Malaysia has significant gas potential, which could see production rise by around 42.5 million cubic metres per day between 2016 and 2020, Edi Saputra, a specialist in Southeast Asian gas and power at energy research company Wood Mackenzie, told Interfax Natural Gas Daily. The figure includes supplies from probable developments.

But at the same time as production is growing, gas is starting to lose market share to coal in terms of power generation. Woodmac estimates coal will increase its share of the fuel mix for power from 47% to 65% by 2020.

However, the fall in global gas prices could change things. New-build coal power plants made economic sense when oil was near $100 per barrel and gas was selling at $14-15/MMBtu. But lower gas prices will make the fuel more competitive during the post-2020 phase of development as there is little difference between the cost of new-build gas versus coal, Graham Tyler, a Singapore-based senior director at consultancy Galway Group, toldInterfax Natural Gas Daily.

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Petronas employs increasing number of Sarawakians

July 8, 2016

Dateline 2016-06-10, Borneo Post:

There is an increasing number of Sarawakians being employed by Petronas in line with the company’s expansion of the upstream sector in the state.

Assistant Minister for Industrial Development (Investment and Promotion) Datuk Julaihi Narawi, said Petronas was commited to developing human capital and gave priority to the locals.

He told the State Legislative Assembly yesterday that the number of employees in the upstream sector in the state had increased by 10 per cent to 4,400 this year, compared to 4,000 in 2015.

From the 4,400 employess 71 per cent were Sarawakians, he said, adding that 313 were Sarawakians from the increased figure of 400 this year.

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IEM Shout Out – Technical Visit To Technical Visit to PETRONAS Penapisan (Terengganu) Sdn Bhd

July 7, 2016

This is a shout out for the IEM. My Technical Division will be having a visit on Sunday 21st August, 2016.  Trip starts at 7.00am.

PETRONAS Penapisan (Terengganu) Sdn Bhd – PP(T)SB was incorporated in 1982 to meet a need to process and add value to the indigenous crude from offshore Terengganu, as well as to secure reliable, efficient, safe and cost effective supply of refined petroleum products to the PETRONAS Group of Companies. PP(T)SB has proven its capability in providing efficient, safe, reliable uninterrupted supply of petroleum products such as gasoline, LPG, diesel, jet fuel, naphtha and Low Sulphur Waxy  Residue (LSWR) to its domestic customers and also exported to several overseas destinations. PP(T)SB has been entrusted to manage and operate the Aromatics plant complex, which is owned by 70% PETRONAS Chemical Aromatics Sdn Bhd (PC AROMATICS) and 30%  Mitsubishi Corporation & JX Nippon Oil & Energy Corporation – (MJPX Co. Limited), that produces paraxylene and benzene. Quality and HSE ranks high in PP(T)SB’s business operations as it strives to ensure that existing petroleum products specifications are met and employees are regularly trained on strict HSE measures to inculcate and maintain high level of awareness on the impact of the refinery’s operations to natural surroundings. Towards this end, PP(T)SB received the MS ISO 9002, ISO 14001, ISO/IEC 10725 and received several national level HSE awards such as MSOSH Gold Award, Notable Achievement and Terengganu State Award in Prime Minister’s Hibiscus Award 2012/2013.

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You can register here and download the flyer here.

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