Petronas Gas Q2 Pre-Tax Profit Falls To RM527.10 Mln

September 4, 2015

Dateline 2015-08-04, Malaysia Reserve:

Petronas Gas Bhd’s pre-tax profit for the second quarter ended June 30, 2015, fell to RM527.10 million from RM578.92 million in the corresponding quarter of 2014.

Revenue declined to RM1.08 billion from RM1.10 billion previously due to lower utilities revenue.

In a filing to Bursa Malaysia, Petronas Gas said the lower revenue was due to electricity tariff rebate effective March 1, 2015.

Petronas Gas expected its 2015 performance for gas processing, gas transportation and regasification segments to remain stable.

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Even Big Oil Is Admitting Oil Prices WON’T Rebound Soon

September 3, 2015

Nah, as soon as we have happy with 1MDB, the prices will rebound. I say 3Q 2015. And the Chronicle copied the article verbatim, even the embedded ads. Did your reporter work for an oil & gas engineering house?

Dateline, 2015-08-02, Malaysia Chronicle:

Chevron acknowledged on Friday what the other major oil companies have been reluctant to say publicly: Cheap oil is here to stay, perhaps for years.

“We lowered our long-term price outlook,” Chevron Chief Financial Officer Pat Yarrington told investors during the company’s second-quarter earnings call. Although she declined to offer specifics, she suggested that the oil majors will just have to get used to low oil prices.

After Chevron and the other two U.S. “supermajors” — ConocoPhillips (COP – Get Report) and Exxon Mobil (XOM – Get Report) — reported disastrous earnings this week, they tried to appease investors with dividends and major spending cuts.

The most important factors for Chevron’s lowered price outlook, Yarrington said, were slow global economic growth — particularly in China — and abundant shale production in the U.S.

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IEM – Training for new PI process

September 2, 2015

Good day. I attended training for the new Professional Interview process from the 12th to 14th September. Look of a more streamlined application process.

IMG_20150812_110914_HDR-001 IMG_20150812_095731_HDR-001 IMG_20150812_095715_HDR-001 IMG_20150812_095748_HDR-001

 

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1MDB’s plans for a cash cow in nuclear power plant

September 1, 2015

I need an inroad to 1MDB. Where are TH’s land banks?

Dateline 2015-08-01, FMT:

The troubled government investment arm 1Malaysia Development Bhd may have plans to milk a future “cash cow” by going into the nuclear power generating business, according to a speculative analysis by a business school researcher.

Wan Ahmad Fayhsal, a fellow at Universiti Putra Malaysia’s Putra Business School, wrote about the links between 1MDB and Malaysia Nuclear Power Corporation, a government unit in the Prime Minister’s Department.

He also set out the links between key people in the two organisations, the role of financier played by Azman Hashim’s right hand man in AmBank group, and the Wei brothers, successful construction and property development businessmen and their links to Jho Low.

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IEM Shout Out – Talk Fire And Gas Detection Systems On Offshore Platform

September 1, 2015

My technical division will be hosting a talk seminar on the 12th September , 2015. It is worth 2 CPD points, and held at Wisma IEM. The course will be presented by Ir. Gan Chun Chet. Safety practitioners, fill up the seats, please.

Offshore platforms are equipped with a fire and gas detection technology to mitigate a hazardous situation. Calculated risk analysis (through simulation) has improved the risk of a catastrophic fire incidents around the region. An analysis by utilizing fire and gas mapping calculates the chances of a fire risk. This technique is widely used today and is still continuously being developed for improvement purposes. With proper forecasting or predictive technique, a failure can be avoided.

In an uncertainty situation, the risks among the people working on an offshore platform increase when there is a fire and gas detection system failure. An investment in a reliable fire and gas detection system is a necessity. A fail-safe system design which shutdowns the platform to protect the assets, environment and people, when a fire or gas leakage occurs must be available, be reliable and be dependable when required.

CENTRIFUGAL PUMP THEORY AND APPLICATION shall provide the audience with the knowledge and principles of pump design, sizing, selection and performance analysis. The course will be beneficial to engineers dealing with pump and will be presented in a way that is comprehensible to the engineers who are with or without the oil and gas background. The objectives of the course are to provide exposure to the audiences on understanding of fundamental design of centrifugal pump, the critical pump parameters when evaluating pump selection and making the best decision on specification.

Ir. Gan Chun Chet is a Mechanical Engineering graduate from the University of Manchester, United Kingdom in 1996. He also has a Masters of Science in Operations Management awarded by University of Manchester Institute of Science and Technology (UMIST), United Kingdom in 1997.

He started his career with the General Industry, and later moved to the Oil and Gas Industry where he has accumulated 17 years of working experience. In the general industry, he worked together with an engineering team to resolve daily Plant issues encountered. Some of the problems consisted of noise problems, and compressor/pumps vibration problems. Monitoring the progress and taking actions are vital to resolve the issues.

In the oil and gas industry, he works with other engineers in the area of predicting equipment failures. Practices such as redundancy, field voting, review check activities, are some examples of practices in failure mitigations.

Register here, or download the form here.

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IEM Shout Out – Technical Visit to Chocolate Museum by Fidani

September 1, 2015

This is a shout out for the IEM. My technical division will be hosting a trip to Fidani. It will be a ‘technical’ visit (hint, hint) on the 28th September, 2015. You will be anointed with 2 CPD / PDP hours.

Chocolate Museum by Fidani is proudly owned and operated by DR Group Holdings Sdn Bhd, a diversified Malaysian company that among others specializes in manufacturing and retailing of chocolate and confectionery products. The Chocolate Museum has been designed to be interactive using attractive displays and simple language which provides the best learning experience for all ages. Chocolate Museum by Fidani also is the latest, most interactive, one-of a kind chocolate museum in South East Asia with interactive digital displays, fascinating facts, state-of-the-art equipment’s and more than 100 chocolate brands available. The visitor will learn about how the chocolate is made in the industrial scale from cacao bean until the end consumer product. Some important agenda of the visit includes the visitor will learn the characteristic of cacao plant, origins of chocolate from the cacao plant, the inventions that revolutionized the chocolate industry and the industrial manufacturing process of chocolate from cacao beans.

 

Register here and get the flyer here.

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Saturday Star 2015-08-29– Job Opportunities

August 31, 2015

Happy Merdeka Week. Donate to your favourite charity, 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.

  • I haven’t seen Qatar Petroleum ads for a while. They are looking for people in HSE (Dukhan Fields). Examples of the posts are Head, Safety, Senior Safety Officer (Gas Operations), Head, Process Safety and Loss Prevention, Sr. Safety Engineer (Process), Safety Engineer – Loss Prevention. Apply here or visit the website.
  • I’m looking for jobs for 4Q2015. 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? IGL’s open house and client / associate open day, of course.

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

Join the Star Wars Fever:

Star Wars Trilogy Episodes IV-VI (Blu-ray + DVD), Star Wars Trilogy Episodes I-III (Blu-ray + DVD), Heir to the Jedi: Star Wars

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Expert: 20% oil royalty not enough for Sabah

August 30, 2015

Ah, not enough. And where is the expert’s name in the article?

Dateline 2015-07-30, FMT:

The Sabah Government can generate RM7.2 billion a year from wielding ownership of the state’s oil and gas resources under the Federal Constitution Schedule 10 (Part V)(3) compared with the 5 per cent oil royalty of RM1 billion a year. “In fact, the oil royalty was no royalty at all but cash payment.”

Parti Kerjasama Rakyat (Pakar) Secretary-General Zainnal Ajamain was getting to the point that he wanted to make i.e. begging Petronas and the Federal Government for 20 per cent oil royalty, up from the measly present 5 per cent, should not arise. “The emergency laws were repealed on 24 November 2011. This means that we can exercise ownership of our oil and gas resources but provided we give up the 5 per cent so-called royalty option.”

Zainnal recalled that Chief Minister Musa Aman confirmed in the Sabah Assembly last year, in response to a question from Kapayan assemblyman Edwin Bosi, that all land matters within the state’s territorial waters automatically reverted to the Sabah Government following the repeal of emergency laws.

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State sets up oil and gas committee

August 29, 2015

Dateline 2015-07-20, Borneo Post:

The state government has approved the setting up of a Sarawak Oil and Gas Committee to monitor the involvement of local entrepreneurs in the oil and gas industry.

Assistant Minister for Industrial Development (Investment and Promotion) Datuk Julaihi Narawi said the state cabinet gave its nod last month, and Minister of Industrial Development Datuk Amar Awang Tengah Ali Hasan would chair its first meeting soon. At the same time, he revealed that his ministry will have a new unit – Oil and Gas Unit.

“This committee is formed to monitor the involvement of local players in the oil and gas industry. This is because Sarawak has many industry players in the sector and we want them to play a more active role in the industry compared to before,” he said when met at his Hari Raya open house at his home at Taman Heritage here yesterday.

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(Bintulu) Set to be petro-chemical hub

August 28, 2015

Dateline 2015-07-30, Borneo Post:

The abundance of natural resources in Bintulu gives the area a huge potential to be the petro-chemical hub in the country, says Chief Minister Datuk Patinggi Tan Sri Adenan Satem.

Speaking at the ground breaking ceremony of Huchems Fine Chemical Corporation plant in Tanjung Kidurong yesterday, Adenan said the setting up of the plant to produce ammonia, nitric acid and ammonium nitrate here reflected the confidence of foreign investors in the state.

He added that more petrochemical companies would be invited to set up their plants in the state.

“To do this, we will be intensely involved in developing the high value downstream products of oil and gas industries such as specialised and fine chemicals.

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