Petronas picks new board member, changes committee heads

October 25, 2015

Tahniah, Datuk Omar. Let’s go for teh tarik someday.

Dateline 2015-09-24, The Star:

Petroliam Nasional Bhd (Petronas) has made some changes to its board, bringing in the former head of the Securities Commission (SC), Tan Sri Zarinah Anwar, and shuffling the heads of some of its board committees.

It is speculated that more board changes are in the offing for the national oil company, with a few new ones to come in while some existing board members may leave when their terms end.

Petronas recently saw a change of guard in the form of the departure of Tan Sri Shamsul Azhar Abbas at its helm, with the reins being handed over to new CEO Datuk Wan Zulkiflee Wan Ariffin. StarBiz had speculated that some board changes would be in the offing following this.

The new changes are reflected in Petronas’ website today.

Datuk Mohd Omar Mustapha has replaced Datin Yap Siew Bee as chairman of Petronas’ remuneration committee, while Datuk Muhammad Ibrahim was made chairman of the audit committee replacing Krishnan Menon.

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Posted by Wata

Malaysia’s PETRONAS Spent $116M on Talent Management Last Year

October 24, 2015

And how much will they allow service providers to spend on ‘talent management’?

Dateline 2015-09-23, Rigzone:

Malaysia’s national oil company Petroliam Nasional Bhd (PETRONAS) spent about $115.9 million (MYR 500 million) on talent management as well as on leadership training and competency building last year, the firm’s top executive said Tuesday, as reported by national news agency Bernama.

“It is quite a significant sum, but we take it as a long-term investment,” PETRONAS President and CEO Wan Zulkiflee Wan Ariffin said at the CPA Congress 2015 in Kuala Lumpur.

Besides making a hefty investment in nurturing talents, the company also spent a lot of time looking at succession planning and developmental needs of its 51,000 employees.

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Posted by Wata

Deepwater project passes on skills to Malaysian O&G

October 23, 2015

Dateline 2015-09-22, Borneo Post Online:

The Petroliam Nasional Bhd (Petronas), Shell and Technip-MMHE Joint Venture (TMJV) for the safe integration of the topsides of its Malikai deepwater platform onto the hull at Pasir Gudang, Johor provided much-needed education and skill to enhance Malaysia’s oil and gas talent.

According to Simon Ong, managing director of Shell Global Solutions Malaysia, Projects and Technology, the project was necessary as Malaysia needs the oil to sustain the revenue and energy needs of the country.

With them now having almost a full suite of deepwater technology, Ong said this will position Malaysia to be the hub of deepwater in the region as aspired by Petronas.

“This is a very important milestone for us in Malaysia,” he said in a recent site visit.

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Posted by Wata

EM Shout Out – Technical Visit to Solar Farm Kompleks Hijau Solar, Gading Kencana Sdn Bhd

October 22, 2015

This is a shout out for the IEM. My Technical Division will hosting the visit on Wednesday the 28th Oct, 2015.

Gading Kencana Sdn Bhd has successfully commissioned a 8-MW solar farm on a 6.86 hectar land in Bemban, Melaka with an investment cost of  RM 86-million. The solar farm has a total output of 10,120 MWh annually. It is enough to power some 1,800 local households. The electricity produced is being purchased by  Tenaga Nasional Bhd at 80 cents per kilowatt hour of electricity under the Feed-in Tariff (FiT) scheme managed by Sustainable Energy Development Authority Malaysia (SEDA) and the Energy Commission.

You can register here. Flyers may be obtained here.

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Posted by Wata

IEM Dinner 2015 Part 1/3

October 21, 2015

I don’t know if I’ve published these or not. Consider it a reminder to join the IEM.IMG_7051 IMG_7052 IMG_7045 IMG_7047

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Posted by Wata

Volatility in the O&G market

October 20, 2015

Dateline 2015-09-19, Borneo Post Online:

Malaysia’s O&G industry had once experienced the positive impact of stable global oil prices as throughout 2013 and the first part of 2014, the local bourse (Bursa Malaysia) saw a rapid rise in the listing of O&G companies while O&G projects both domestic and international came at a steady rate.

However, by the later half of 2014, the price of crude oil took a nose dive and subsequently, the global O&G industry entered a new downturn, with many O&G companies especially those involved in the upstream segment, recording lower profits.

According to Bloomberg, since its peak in June 2014, the US benchmark West Texas Intermediate (WTI) crude oil price fell nearly 40 per cent. By December 2014, the WTI crude prices dropped to less than US$50 per barrel, with Brent oil prices following suit.

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Posted by Wata

Saturday Star 2015-10-17– Job Opportunities

October 19, 2015

Happy HAZOP 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 1Q2016. 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 much in the news. Has The Star dropped out of favour? I see more job adverts on the facebook private groups.

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? Alfalfa.

Seen the Episode VII new trailer? If you say “What is episode Vii?”, I disown you.

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

Malaysian oil and gas companies feel the pinch

October 18, 2015

Isn’t this article about 6 months late? University students, plan your careers now.

Dateline 2015-09-15, The Star:

Apart from the value of the ringgit to the US dollar, the other closely watched number if the price of crude oil.

For Malaysia, a net exporter of oil and gas, the price of crude oil has a major implication on the Malaysian economy.

The Government’s Budget is premised on the average price of Brent crude oil at US$55 a barrel and right now, the average for the year is close to that. With Brent trading below that number, it is very likely that the average for the year is going to come in lower than what the Government had forecast months ago when it revised its budget for 2015.

But the implication does not stop at the Government’s fiscal position. The collapse of the price of crude oil has had a major effect on companies, employment and the economy.

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Leave a Comment » | Malaysia | Permalink
Posted by Wata

Petronas safety problems no surprise at home

October 17, 2015

I… have no comment. Oh, did I mention I have a PETRONAS license for safety services?

Dateline 2015-09-15, Vancouver Sun:

Malaysians wouldn’t be as surprised as Canadians to learn that Petronas, a global energy company critical to B.C.’s LNG future, has been struggling with major safety and structural integrity issues in its offshore oil and gas operations, according to a Malaysian environmental consultant.

Eugene Lee, who wrote a 2013 report on the lack of transparency surrounding the state-owned company, said he was unaware of the internal audit obtained by The Vancouver Sun outlining safety issues so serious they were “almost certain” to lead to “catastrophic” incidents.

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Posted by Wata

Is it time to buy oil and gas stocks?

October 16, 2015

Nah, wait till 2H2016.

Dateline 2015-09-14, The Star:

IT is often regarded that the best time to accumulate a stock is when nobody is looking at it. Would that hold true for oil and gas [O&G] stocks whose prices have been beaten down in the wake of the collapse of oil prices?

“Yes and no, perhaps one can start looking at certain O&G companies that are not so directly impacted by the oil price and those that are in the brownfield segment,’’ said a senior analyst.

The analyst added that earnings for KNM and Dialog were more tied to jobs related to the massive Refinery and Petrochemical Integrated Development (Rapid) project by Petronas at Pengerang, Johor.

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Posted by Wata

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