If you were wondering where the oil & gas industry stores floaters in the off season, wonder no more.
These were the entries to the UTP OGCE competition, and they were from secondary schools. Us jaded old timers could do well to learn from the young ‘uns. Give some love to your local school, whether monetary, time or engaging the minds of that generation.
Leave a Comment » | 
Chemical, Malaysia, oil and gas | Tagged: ogce, UTP | 
Permalink
Posted by Wata
Sod that, let’s go back to laissez faire. Read The Will to Compete.
Dateline 2015-12-24, FMT:
The Petrol Dealers Association of Malaysia has suggested to the Finance Ministry to revise oil prices weekly according to the retail price.
Deputy Finance Minister Johari Abdul Ghani in a statement today said that the association had met with him recently and voiced their concerns on the current managed “float system.”
Under this system, oil companies send large quantities of petrol to operators if they predict that retail oil prices will drop in the following month, and vice versa.
“Oil companies are taking advantage of this system. If the proposed system is implemented, price hikes would not be too significant for both operators and customers,” he said.
He added that if current issues were not addressed, it could cause more than 3,200 fuel station operators – 70 per cent of whom are Bumiputera entrepreneurs, to suffer losses.
…
Leave a Comment » | engineering | Permalink
Posted by Wata
Happy 30 dollars a barrel week (we really, really hope). 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.
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
I’ve been saying this since mid-Nov 2015. Maybe not in Malaysia, though.
Dateline 2015-12-22, Borneo Post:
Although the upstream sub-segment of the oil and gas (O&G) value chain remains depressed as exploration and production (E&P) capex are being reduced by many major oil producers, Malaysia’s downstream sub-segment industry is expected to remain robust.
MIDF Amanah Investment Bank Bhd (MIDF Research) said moving into 2016 and into 2017, works and activity levels at the RM90 billion Refinery and Petrochemical Integrated Development (RAPID) Project within the Pengerang Integrated Petroleum Complex (PIPC) are expected to be at its peak.
“As such, key beneficiaries are oil and gas companies which have downstream specialties such as KNM Group Berhad and Muhibbah Engineering Berhad,” it detailled in a report yesterday.
“Channel checks indicate that there could be a possibility of reallocation of staff by Petronas towards its downstream segments to prepare for the commencement of RAPID in Pengerang by 2019.
…
Leave a Comment » | investment, Malaysia | Tagged: RAPID | Permalink
Posted by Wata
Dateline 2015-12-21, Borneo Post:
The oil and gas (O&G) industry will still likely face headwinds ahead as uncertainties of oil prices continue, driven by various global events.
The research arm of CIMB Investment Bank Bhd (CIMB Research) in a recent report, pointed out that recently, the industry has been hit by three events that will likely affect oil prices.
“Brent and WTI have both declined to US$37.19 (down 3.3 per cent) and US$35.74 (down 4.3 per cent) respectively overnight on news of surprising weekly build-up in US crude inventories coupled with the Federal Reserve’s 0.25 per cent rate hike announcement earlier this morning.
“This was further exacerbated by the proposal that US may lift the 40-year ban on crude oil exports. Investors have been bracing themselves for these decisions where the hike would support the dollar, and make oil (priced in dollars) more expensive to other currency holders,” the research team explained.
…
Leave a Comment » | Malaysia, oil and gas | Permalink
Posted by Wata
Nuclear, Nuclear.
Dateline 2015-12-18, Borneo Post:
The oil and gas industry has been sluggish in 2015 and prevailing low oil prices will continue to cast a bleak outlook in the medium-term.
From the peak of US$112 per barrel reached in June last year, Brent, the global benchmark, almost halved its price, plunging to US$61.31 in June this year.
It has been steadily falling to below US$50 per barrel since August before dropping to US$36.33 on Dec 14, slightly above the low of US$36.20 seen during the 2008 financial crisis.
The weak oil price trend is caused by the oil supply glut following the booming shale industry in the United States while the Organisation of the Petroleum Exporting Countries (OPEC) refused to cap its production, estimated at about 31 million barrels per day (bpd).
…
Leave a Comment » | business opportunity, Malaysia, oil and gas | Permalink
Posted by Wata
Hess, do you know about this? Isn’t Ezra the same group as Perisai?
Dateline 2015-12-16, Business Wire:
EMAS Offshore Limited (“EMAS”) (OSE:EMAS) has entered into a letter of undertaking with Ezra Holdings Limited (“Ezra” or the “Buyer”) on 15 December 2015 (the “Undertaking”). Pursuant to the Undertaking, Ezra undertakes to buy from EMAS its entire 12.13 % stake in Perisai Petroleum Teknologi Bhd (“Perisai“). Perisai is a Malaysian-based upstream oil & gas provider and is listed on the Main Market of the Bursa Malaysia Securities Berhad. EMAS acquired the 12.13% stake in Perisai on 21 August 2013 as part of the consideration when EMAS sold its 51% stake in EMAS Victoria (L) Bhd to Perisai.
…
Leave a Comment » | investment, Malaysia | Tagged: Emas, Ezra, Perisai Petroleum Teknologi | Permalink
Posted by Wata
I was honoured to be appointed a Judge during the event (Stallone voice now, “I AM DELAW!“).
I was a Judge for the Paper competition. Some interesting ideas cropped up during the presentation.
Leave a Comment » | engineering | Tagged: ogce, UTP | Permalink
Posted by Wata
Dateline 2015-12-14, The Star:
The price of piped gas in Peninsular Malaysia, which will be increased by RM1.50 per million metric British thermal units (mmBtu) for January-July 2016, is still sold below the market price, said Tenaga Nasional Bhd (TNB) chairman Tan Sri Leo Moggie.
However, under an agreement between TNB and Petroliam Nasional Bhd (Petronas), gas is supplied at RM15.20 per mmBtu for the first 1,000 million standard cu ft per day (mmscfd) compared with the liquefied natural gas (LNG) market price of RM46.041 quoted by Petronas for the period from October to December 2014.
He said under the Government’s subsidy rationalisation programme, the piped gas price would be revised gradually every six months until it reached the market price.
“However, at the moment it is still subsidised (by the government),” he told a press conference after TNB’s AGM in Kuala Lumpur on Monday.
…
Leave a Comment » | business opportunity, Malaysia | Tagged: gas, Petronas, TNB | Permalink
Posted by Wata
Happy ITB 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.
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
Paypal donations accepted.
Wata - Malaysian Oil and Gas Engineer 