First Oil Commences at Balai Field in Balai Cluster RSC offshore Sarawak

January 4, 2014

Dateline 2013-11-11, Rigzone:

Petroliam Nasional Berhad (Petronas) announced Sunday that oil production from the Balai field in the Balai Cluster Risk Service Contract (RSC) area offshore Sarawak, Malaysia has commenced Nov. 6.

The field’s first oil was achieved utilizing an early production vessel (EPV) as a part of the RSC area’s extended well testing (EWT) program.

The Balai Cluster RSC was awarded in August 2011 to BC Petroleum Sdn Bhd, a partnership between Roc Oil (Malaysia) Pty Ltd, Dialog D & P Sdn Bhd and Petronas Carigali Sdn Bhd. It is the second RSC that has successfully achieved oil production after the Berantai gas field.

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Oil tanker hijacked off Malaysia

January 3, 2014

Dateline 2013-11-08, Bangkok Post:

An oil tanker has become the second such vessel to be hijacked in Malaysian waters in four weeks, the International Maritime Bureau said on Friday, pointing to rising piracy in the region.

The Panamanian-flagged vessel was boarded  on Thursday by 10 armed pirates, who emptied it of the oil it was carrying into another ship before disembarking.

In early October a Thai-flagged oil tanker went missing for two days after a hijacking before being released without its cargo.

The IMB said there had been an increase in the number of attacks on Malaysia’s coast recently but added it could not be sure if the two most recent attacks were by the same group.

“This is the third attack in two months, with the last two using the same modus operandi to steal the gas oil,” said Noel Choong, head of IMB’s Kuala Lumpur-based piracy reporting centre.

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Electricity rates up next year as Putrajaya trims subsidies, says business daily

January 2, 2014

Dateline 2013-11-08, The Malaysian Insider:

Electricity rates in Malaysia are expected to rise next year as Putrajaya plans to trim fuel subsidies for power producers in the first quarter of 2014, a business daily reported today.

The Malaysian Reserve said estimates show that electricity could rise as much as 19%, from 33.5 sen per kilowatt-hour to 40 sen per kilowatt-hour, if all the subsidies are removed.

The business paper quoted Ministry of Energy, Green Technology and Water secretary-general Datuk Loo Took Gee as saying that the reduction in fuel subsidies for the power sector is essential to stabilise the economy.

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2013 in review

January 1, 2014

The WordPress.com stats helper monkeys prepared a 2013 annual report for this blog.

Here’s an excerpt:

The Louvre Museum has 8.5 million visitors per year. This blog was viewed about 150,000 times in 2013. If it were an exhibit at the Louvre Museum, it would take about 6 days for that many people to see it.

Click here to see the complete report.

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Barakah shares trade like ‘HOT CAKES’ on listing debut

January 1, 2014

Is hot cakes an euphemism? Dateline 2013-11-07, Malaysia Chronicle:

Barakah Offshore Petroleum Bhd, which took over the listing status of Vastalux Energy Bhd, saw its shares traded like hot cakes as investors bet that the company will win more oil and gas jobs in the near future.

The stock opened on Bursa Malaysia’s Main Market at 98 sen, a hefty 44.5-sen premium to its 53.5 sen reverse takeover price of Vastalux. The loan stocks, Barakah-LA, opened at 80.5 sen, up 27 sen from its offer price of 53.5 sen.

The mother shares were heavily traded throughout the day, ending at RM1 a share, while the loan stock closed at 62 sen.

Investors were betting that Barakah could be the stellar new stock on the Bursa this year, following in the footsteps of Datasonic Bhd.

Datasonic, which begun trading on the Bursa in September 2012, has seen its stock price triple in value over a 12-month period. It stock closed at RM6.44 yesterday, a steep rise from its RM2 IPO price.

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UMW Oil & Gas continues to SIZZLE after debut

December 31, 2013

Dateline 2013-11-05, Malaysia Chronicle:

UMW Oil & Gas Corp Bhd, which made its debut on the Main Board of Bursa Malaysia last Friday, continued to sizzle on the back of investor confidence of its swelling order book.

Contracts clinched by the group will contribute to its compounded annual growth forecasts between now and 2015.

Its shares closed seven sen higher yesterday at RM3.17, which is 37 sen higher than its initial public offering price of RM2.80.

“UMW Oil & Gas is set to grab a slice of the pie in the region’s oil exploration activities tendered by Petronas, as well as others in Indonesia, Thailand, Vietnam, the Philippines and Myanmar.

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Extract from “The Will to Compete”

December 30, 2013

Describing payment methods:

“Sales at retail stations were all in cash. When calling for fresh supplies from Dagangan Depot dealers have to present Bank Drafts at the Depot before any product could be released for delivery. Payment for an average tanker-load would be around RM25 to RM30 thousand…”

Visit here and buy books so I have some spending money.

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Saturday Star 2013-12-28 – Job Opportunities

December 30, 2013

Happy ‘max out your PTPTN allowances’ week (don’t forget that offshore bank account).

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. Send your cv here. Also looking for technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • Nothing of interest this week.

Help me (and you) increase my cloud presence. Pleease use some form of cloud storage, so if you lose your laptop with those oh-so-important reports, be assured that (with Internet access) the files are still accessible. Use my referrals for Dropbox, MiMedia,  SpiderOak, MediaFire, Ubuntu One, Sugar Sync.

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!

This week, my theme is, you need to be a better all round engineer. Hence, some selections for the process engineer:

A Simple Guide To Understanding Jet Engines, Process Plant Instrumentation: Design and Upgrade, Mechanical Design of Process Systems: Piping and Pressure Vessels

The IEM has a coffee table book out, Engineering Heritage of Malaysia (no, it is not Datuk Seri Samy Vellu’s bio). Visit here for details.

Food?I had lunch at Chakri Palace, KLCC. Blooming expensive. Anyone want to treat me to dinner there?

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Petronas Gas boosted by robust regasification segment

December 29, 2013

Dateline 2013-11-02, Borneo Post:

Petronas Gas Bhd (Petronas Gas) saw a boost in its earnings driven by the recognition of deferred tax assets arising from an investment tax allowance granted for its liquefied natural gas  (LNG) regasification terminal in Melaka.

In addition, the company is expected to be the biggest beneficiary of rising gas demand as the additional gas volume will pass through its Peninsular Gas Utilisation (PGU) pipeline.

Analyst June Ng from HwangDBS Vickers Research Sdn Bhd (HwangDBS Research) said that the earnings boost from Melaka regasification plant was driven by higher gas transportation revenue and contribution.

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2 Comments | investment, Malaysia | Tagged: , , | Permalink
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Windows XP to Become a Hacker’s Dream in 2014, Experts Warn

December 28, 2013

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