IF S’WAK GETS, SO WILL WE – Sabah confident of getting increase in oil and gas royalties

June 29, 2014

Dateline 2014-06-04, Malaysia Chronicle:

Parti Bersatu Sabah (PBS) Secretary General Datuk Johnny Mositun believes Sabah will get similar consideration as Sarawak from Prime Minister Datuk Seri Najib Tun Razak in the context of increased oil royalties.

He said it was heartening to note that the Prime Minister was willing to give utmost consideration to the Sarawak State Government’s request for an increase in oil royalties for the state.

“It is good that our Prime Minister has not rejected outright Sarawak’s request for an increase in oil royalties, unlike all past Prime Ministers who simply refused to even consider the matter,” he said, when contacted, Tuesday.

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S’wak requests for special natural gas quota

June 28, 2014

Dateline 2014-05-06, Free Malaysia Today:

Sarawak has forwarded an official request to the federal government to be allocated a special natural gas quota from what is being produced in the state.

Assistant Minister of Industrial Development (Investment and Promotion) Julaihi Nahrawi said the natural gas quota would be used to meet the needs of power stations and downstream activities.

“We hope to receive a positive answer from the federal Government (on the request),” he added.

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Sarawak can go it alone – Dixon Fong

June 27, 2014

Dateline 2014-05-01, The Malaysian:

I read Brewin Edward Emprang’s article and found it mind-blowing. The author might have skipped some fundamentals while expressing his views. I am a Sarawakian and thus, I hope I am not wasting your time here.

The author mentioned that Petronas does not have the equipment and expertise needed for oil exploration and excavation.

I beg to defer on this statement. Petronas, one of the Fortune 500 companies, has the talents required to be profitable on an annual basis.

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Malaysia’s pump prices among world’s lowest with 40pct diesel subsidies

June 26, 2014

Dateline 2014-05-05, Malaysia Mail Online:

Malaysia enjoys some of the lowest petrol pump prices among the major world economies, according to a new study by UHY, the international accountancy network.
UHY explains that Malaysia offers subsidies of 30 per cent for petrol and 40 per cent for diesel, reducing fuel costs to a considerably lower price than many major developed economies, in particular European countries.

This means that the cost of filling the tank of a Ford Transit van with diesel in Malaysia amounts to RM159 – just a third of the cost of filling up in the UK where diesel prices are highest.

UHY says that as diesel is used in the majority of commercial vehicles, this subsidy is great news for businesses.

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Washington Accord: Background Information

June 25, 2014

If you are interested in the Washington Accord, here are a couple of slide packs for you to sift through:

  1. The Washington Accord: Past, Present, Future, IEA
  2. New Developments at the International Engineering Alliance and within Asia

Link1, Link2

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New player seen in Malaysia oil & gas sector

June 24, 2014

Hah, and I always said we could have a bottled water vendor in the O&G space.

 

Dateline 2014-05-05, Seatrade Global:

A Sarawak-government linked group is believed to be looking at injecting MYR200m ($61.5m) in oil and gas (O&G) fabrication assets into a reverse takeover of loss-making bottled water company BIO Osmo to transform it into an O&G company, local reports said.

The speculation has also been prompted by recent changes in its shareholding, including the emergence of Tanjung Offshore managing director Harzani Azmi as a substantial shareholder in January.

Tanjung is looking for a core business after selling its offshore supply vessel business to Ekuiti Nasional for MYR220m in July 2012.The group has been on the look-out for a shell company for some time and Bio Osmo, which is debt free after having undergone a recent restructuring exercise, fits the bill.

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Saturday Star 2014-06-21 – Job Opportunities

June 23, 2014

Happy School Holidays.

Buy my recommendations, or through my Amazon store. Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper

  • I’m looking for a senior process engineer, 7+ years experience. Also looking for technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • ExxonMobil is looking for Drilling Rig Supervisors.Visit here.

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? How if you visit Vietnam, how about visiting and updating GoHalalVietnam! for your food needs. For your other needs, talk to your local tour guide/ concierge / man on the street.

Some books for you to turn those bad numbers’ frown upside down.

  

Proofiness: The Dark Arts of Mathematical Deception, Bad Science: Quacks, Hacks, and Big Pharma Flacks, How to Lie with Statistics

2 Comments | engineering, Malaysia, oil and gas | Tagged: , | Permalink
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Sabah oil doesn’t need another ‘broker’

June 22, 2014

And we see M3Nergy is in the news

Dateline 2014-05-02, Free Malaysia Today:

In the 1980’s the Sabah Energy Corporation (SEC) was established to develop oil and gas projects in Labuan.  Asian Supply Base Sdn Bhd is one of its subsidiaries.

The SEC’s responsibility was to develop the integrated Sabah Gas Utilisation Project in Labuan whereby excess gases piped in from offshore fields are used to make hot briquette iron and methanol.

Excess heat was used for power generation.

But SEC sold off  the integrated gas projects. SEC is now responsible for providing gas for industrial use in the Kota Kinabalu Industrial Precinct (KKIP) but this however is limited to only 2 million cubic feet of gas sales daily.

In the 1990s the Sabah Government established Petrosab, a subsidiary of Innoprise, the business arm of Yayasan Sabah.

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In SE Asia, oilfield services minnows must acquire or expire

June 21, 2014

Dateline 2014-04-29, Reuters:

Suppliers of offshore oilfield services in Singapore, the seat of Southeast Asia’s energy industry, are opening up to mergers and equity buy-ins as smaller players struggle to find the capital and scale to compete with the big boys.

Malaysia and Indonesia, the top oil and gas producing nations in the region, are planning to spend billions of dollars to unlock virgin reserves trapped in remote deepwater locations and boost extraction rates at existing but aging fields.

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Norwegian fund nibbling at Malaysian small and mid caps

June 20, 2014

Start investing. Can someone give me a soft loan?

Dateline 2014-04-28, The Star:

Norway-based Norges, one of the largest foreign funds investing in Malaysian equities, has been nibbling small to mid cap stocks that offer exciting upside here.

It has taken up small stakes in 53 Bursa Malaysia-listed companies, with total investments of around RM1.7bil, according to a fund manager.

Norges has a market value of 5,038 billion kroner (RM2.73 trillion) as of end-2013.

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