Saturday Star 2016-02-06– Job Opportunities

February 8, 2016

Happy Umrah Week. Donate to your favourite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). 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’m looking for jobs for 2Q2016. Send me your POs.
  • An associate of mine is looking for a technical safety part-time adviser. 2 Associates, actually. Needs to be needle sharp with respect to QRAs, and HSE safety cases. A calm demeanor to handle nonsensical questions from young engineers helps as well. Either that, or a drinking problem.
  • Nothing in the papers this week. See Happy note above.

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.

During these trying times, perhaps you should focus on self improvement. The following are a good set of books to start automating your uncertainty budget tables.

The Cartoon Guide to Statistics, Hands-On Start to Wolfram Mathematica, Doubt-Free Uncertainty In Measurement: An Introduction for Engineers and Students

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

Malaysia’s Petronas set to ride another year of oil turmoi

February 7, 2016

Dateline 2016-01-05, MENAFN:

Malaysian fuel company Petronas Dagangan Bhd, the country’s top-performing stock in 2015, will focus this year on managing inventories to help cut operating costs and sustain dividend payments as it anticipates continued oil market turmoil.

Its strategy to mitigate any further decline in oil prices is similar to last year, when it slashed the number of days it holds inventory for by 30%, Managing Director Mohd Ibrahimnuddin Mohd Yunus said in a December 31 interview.

The company operates the country’s biggest network of retail stations and supplies fuel to factories, vessels and airplanes – – leaving the value of its fuel inventories vulnerable to oil price drops.

“We constantly manage our inventory at an optimal level,” Mohd Ibrahimnuddin said at his office at the Petronas twin towers in Kuala Lumpur. “At these levels, we were able to ride out crude oil prices that have dropped significantly.”

…

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

Big oil to cut investment again in 2016

February 6, 2016

And this was when crude was / is / will be (referring to HHGTTG grammar guide) USD37/ barrel.

Dateline 2016-01-04, FMT:

With crude prices at 11-year lows, the world’s biggest oil and gas producers are facing their longest period of investment cuts in decades, but are expected to borrow more to preserve the dividends demanded by investors.

At around $37 a barrel, crude prices are well below the $60 firms such as Total, Statoil and BP need to balance their books, a level that has already been sharply reduced over the past 18 months.

International oil companies are once again being forced to cut spending, sell assets, shed jobs and delay projects as the oil slump shows no sign of recovery.

US producers Chevron and ConocoPhillips have published plans to slash their 2016 budgets by a quarter. Royal Dutch Shell has also announced a further $5 billion in spending cuts if its planned takeover of BG Group goes ahead.

…

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

Platts to start assessing price of Malaysia’s Kimanis oil from Feb

February 5, 2016

Dateline 2015-12-31, The Star:

Oil pricing agency Platts will publish daily price assessments for Malaysia’s Kimanis crude starting from Feb. 9.

The grade has “emerged in recent months as one of the most widely traded light, sweet grades in the Asia Pacific spot market,” Platts said in a note on its website released late on Wednesday.

The price assessments for Kimanis cargoes for lifting on a free-on-board basis from Sabah will be published as an outright number at the close of Asia and London markets and as a differential to Dated Brent at Asia’s close, the agency said.

The crude, with an API gravity of 38.61 degrees and a sulphur content of 0.06 percent, is produced at the Gumusut-Kakap oil project off East Malaysia’s state of Sabah.

…

 

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

PETRONAS’ PFLNG1 Facility is 95% Complete, On Track to Commence Ops in 2016

February 4, 2016

Just in time. Is there a rumor that PETRONAS may sell the PFLNG1 strengthen their cash position?

Dateline 2015-12-31, Rigzone:

Malaysia’s national oil company Petroliam Nasional Berhad (PETRONAS) announced that the PETRONAS Floating LNG1 (PFLNG1) facility is on track to commence operations in 2016.

“The PFLNG1 has reached a 95 percent overall progress in its construction and will come on stream in 2016. All project updates of the PFLNG1 will be officially announced by PETRONAS in due course,” the company said in a press release Tuesday.

PETRONAS’ first Floating Liquefied Natural Gas (FLNG) facility will be deployed at the Kanowit field, located 124 miles (200 kilometers) offshore Bintulu, Sarawak, East Malaysia, at a water depth of approximately 262 feet (80 meters).

The PFLNG1 vessel, which will produce 1.2 million tons of LNG per year, will play a significant role in PETRONAS’ efforts to unlock gas reserves in Malaysia’s remote and stranded fields to help meet the growing demand for gas.

…

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Posted by Wata

Tales from The Engineering Floor – Asnaf

February 3, 2016

So, I was at the closest Lembaga Zakat Selangor, since my current company is my first employer in 20 years that pays zakat.

A client calls up while I was there, and I tell them that I was at the payment office.

They go quiet for a while, and then say, “I know the oil & gas market is tough, but I didn’t think that you would be an asnaf.”

Go pay your zakat (corporate or otherwise), and spread the wealth.

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

Oil and gas industry likely to consolidate amid low oil prices, says Deloitte

February 2, 2016

Dateline 2015-12-21, The Malay Mail:

The oil and gas industry is expected to consolidate amid the pervasive low oil prices which have led to reduced investments and slower production rates, said Deloitte Malaysia.

“The effect has been highlighted by mature oil fields, marginal oil fields and high cost of exploration that runs long term for potential deep water assets, which have a high break-even point.

“Falling oil prices are forcing oil and gas companies to seriously review the economics or defer these capital-intensive projects,” its Energy & Resources Leader Nizar Najib said in a statement.

Nizar said although new refining projects in Sabah and Johor will significantly increase Malaysia’s refining capabilities as part of the government’s agenda to become a regional oil and gas hub by 2020, falling oil prices, consolidation in the industry and subdued domestic consumption may have a negative impact on the sector, at least in the medium term.

…

Leave a Comment » | business opportunity, Malaysia | Permalink
Posted by Wata

Govt focusing on TPA framework to liberalise gas market

February 2, 2016

Add more meters, please, so I can do an uncertainty calculation.

Dateline 2016-04-27, The Star:

The Government is focusing on getting the necessary framework in place for third party access (TPA) to pave the way for the liberalisation of the gas market in Peninsular Malaysia.

It will also push for rationalisation and subsequent deregulation of gas price in a move towards a market-based pricing of energy, the Performance Management and Delivery Unit (Pemandu) said in the National Transformation Programme Annual Report 2015 released on Tuesday.

“The advent of market liberalisation will facilitate the entry of new industry players, encourage more efficient utilisation, and benefit customers by enabling competitive gas pricing,” the report said.

…

 

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

Saturday Star 2016-01-30– Job Opportunities

February 1, 2016

Happy Umrah Week. Donate to your favourite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). 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’m looking for jobs for 2Q2016. Send me your POs.
  • An associate of mine is looking for a technical safety part-time adviser. 2 Associates, actually. Needs to be needle sharp with respect to QRAs, and HSE safety cases. A calm demeanor to handle nonsensical questions from young engineers helps as well. Either that, or a drinking problem.
  • Nothing in the papers this week. See Happy note above.

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.

During these trying times, perhaps you should focus on self improvement. The following are a good set of books to start automating your uncertainty budget tables.

The Cartoon Guide to Statistics, Hands-On Start to Wolfram Mathematica, Doubt-Free Uncertainty In Measurement: An Introduction for Engineers and Students

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

PETRONAS Carves Role as a Pioneer in Southeast Asia’s Offshore EOR

January 31, 2016

Nice to see PETRONAS in the news, in a positive light. Kipidap! (that’s to annoy my children). Though on second reading… 2014?

Dateline 2015-01-29, Rigzone:

Southeast Asia’s largest offshore Enhanced Oil Recovery (EOR) project, costing $2.5 billion, became operational at Malaysia’s Tapis field in September 2014, marking the culmination of a three decade-long journey for the country’s national oil company (NOC) Petroliam Nasional Berhad (PETRONAS).

The firm became interested in EOR in 1986 when a study was made for Malaysian oilfields. But another decade passed before the first EOR evaluation took place at the Dulang field offshore Terengganu. In 2002, PETRONAS designated EOR as a strategic project, a move enabling the initiative to secure the necessary direction and funding, paving the way to realize the Tapis project.

The Tapis project, undertaken by PETRONAS Carigali Sdn Bhd and ExxonMobil Exploration and Production Malaysia Inc. in a 50:50 joint venture, is also one of the world’s largest water alternating gas (WAG) offshore EOR developments.

…

 

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

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