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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Stop hiding, stand up to Putrajaya

June 19, 2014

Yeah, why dontcha?

Dateline 2014-04-26, Free Malaysia Today:

Chief Minister Musa Aman’s move to use bloggers to stoke discussions on Sabah’s oil and gas rights is a cowardice act, even if it is merely to gauge the federal government’s receptiveness, said political maverick Jeffrey Kitingan.

“It is not proper and transparent governance. The suggestion (to use bloggers to fight his battles) came up after he (Musa) refused to discuss the matter in depth during assembly.

“The Chief Minister should realise that it is not wrong for him and the state government to demand for ownership of Petronas.

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Posted by Wata

Marketing Rounds – Vietnam 002

June 18, 2014

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Barakah gets RM260m gas project

June 17, 2014

Dateline 2014-04-24, FMT:

 Barakah Offshore Petroleum Bhd has won a RM260 million contract from Petronas Gas Bhd (PetGas) for the procurement, construction and commissioning (PCC) of the Pengerang gas pipeline.

The project is undertaken by PetGas as part of the expansion of the Peninsular gas utilisation pipeline network to Pengerang Integrated Complex, Johor.

The project is awarded to Barakah’s subsidiary PBJV Group Sdn Bhd in a 50:50 consortium with CPM Construction Sdn Bhd, a subsidiary of Indonesian company PT Citra Panji Manunggal, according to both Barakah and PGB in separate exchange filings on Tuesday.

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Posted by Wata

Saturday Star 2014-06-14 – Job Opportunities

June 16, 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.
  • Nothing else catches my eye.

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

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Malaysian ISO’s Iranian oil brokerage confirmed

June 15, 2014

Dateline 2014-04-23, Trend:

The Supreme Audit Court of Iran confirmed that a subsidiary of the National Iranian Oil Company (NIOC) sold several crude oil and condensate freights worth about $1 billion to International Safe Oil Company in the second half of 2012.

The exact value of sold cargoes is $1,004, 609, 117.

According a report released by the Supreme Audit Court of Iran says that the Malaysian International Safe Oil Company (ISO) should have paid off its debt by the end of 2012, but hadn’t.

The U.S. and EU adopted tough sanctions targeting Iran’s oil revenues in mid-2012 to persuade Iran to curb its sensitive nuclear activities. After sanctions, Iran’s oil exports dropped significantly and went from 2.5 million barrels to 1.07 million barrels per day in 2013.

Iran reportedly has been using various ways to bypass the imposed sanctions on both its oil exports and transferring the payments.

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Pirates Raid Oil Tanker Off Malaysia, Take Away Three Crew

June 14, 2014

Stick an oil rig in the middle of the straits with shoot to kill authority, that’ll learn them.

Dateline 2014-04-24, Reuters:

Armed pirates raided an oil tanker off the coast of Malaysia and took three crew members with them, Malaysian maritime officials said on Wednesday, underscoring increasing threats to shipping in one of the world’s busiest waterways.

The incident in the Malacca Strait, a route for about a quarter of the world’s seaborne oil trade, has fuelled fears piracy could be on the rise in the area and drive up ship insurance premiums.

“We are very concerned,” said Noel Choong, head of the International Maritime Bureau’s Malaysia-based Piracy Reporting Centre, who added the ship was hijacked while sailing near the Malaysia town of Port Klang.

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New tariff a bane for Gas Malaysia margins?

June 13, 2014

Which Bane we talking about? Classic Bane? Movie Bane?

Dateline 2014-04-19, The Star:

A potential squeeze on its margins from the recent hike in gas tariffs may unsettle investors of Gas Malaysia Bhd, at least until it clears the air.

In the meantime, analysts have had to do a bit of guesswork on whether the higher gas prices will work in Gas Malaysia’s favour.

The company announced two weeks ago that it had secured the Government’s approval to raise the tariff for natural gas to the non-power sector in Peninsula Malaysia by an average of RM3.24/mmbtu, or 20%, to RM19.32/mmbtu from RM16.07/mmbtu, effective May 1.

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