Petronas Chemicals to End Vinyl Business; Will Record MYR560 Million Charge in 4Q

November 18, 2012

So, PETRONAS is out of the 45 rpm business? Are they selling off their plant in Kerteh?

Dateline 2012-10-29:

Petronas Chemicals Group Bhd (5183.KU), the petrochemical arm of Malaysian state oil and gas company Petroliam Nasional Bhd, said late Monday it will discontinue its vinyl business and cease operations by January 1, 2013.

As a result, the company will take a charge of 560 million ringgit ($183 million) in the fourth quarter this year to mainly provide for decommissioning, contract termination dues and impairment expense, Petronas Chemicals said in a statement to the Malaysian stock exchange.

“The performance of the vinyl business has not been satisfactory compared to the group’s other businesses,” Petronas Chemicals said, because it wasn’t “closely integrated” within its product value chain.

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PETRONAS Carigali discovers more oil reserves in Bertam, says PM

November 17, 2012

Note the “opposite the state of Pahang” jibe.

Dateline 2012-10-30:

 Prime Minister Datuk Seri Najib Razak today announced that PETRONAS Carigali Sdn Bhd and Lundin Oil have jointly discovered additional oil reserves, under a production-sharing contract (PSC), at Block PM 307 of the Bertam oilfield.

He said the oil field, located 160 kilometres offshore Peninsula Malaysia, is opposite the state of Pahang at the depth of 76 metres.

PM 307 PSC is operated by Lundin Malaysia which holds a 75 per cent interest and Petronas holds the remaining equity.

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Platts adds new Malaysia storage terminal to pricing process

November 16, 2012

Dateline 2012-10-30:

Energy pricing agency Platts has approved a new storage terminal in southern Malaysia set up by a joint venture of oil trader Vitol to participate in its assessment process for oil products, a step that could strengthen the region’s role as a trading hub.

The move will also allow the Geneva-based trading house, which is a major player in the Asian market, to take bigger trading positions and gain greater flexibility.

Platts, which provides Asian benchmark assessments for most oil products traded in the region, will include Malaysia’s new Tanjung Bin storage terminal in its pricing process for fuel oil, diesel, jet fuel and gasoline from Dec. 1, the unit of McGraw Hill told subscribers.

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Pakatan says not against RAPID but project implementation

November 15, 2012

Dateline 2012-10-16:

Pakatan Rakyat (PR) clarified today that it will not scrap Petronas’ RM60 billion petrochemical refinery in Pengerang should it wrest federal power but will only put the project on hold, pending the resettlement of affected villages in the Johor constituency.

PR de facto leader Datuk Seri Anwar Ibrahim (picture) told a press conference here that the pact was not against the multibillion ringgit refinery but was concerned over how the Petronas’ Refinery and Petrochemicals Development (RAPID) had been rushed without due consultation with those living in the affected areas.

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UMS mulls oil and gas school

November 14, 2012

Oh, come on. It’s difficult enough to get good quality graduates of the classical engineering disciplines. Now you want to limit them to a trade? What will the BEM say?

Dateline 2012-10-14:

Universiti Malaysia Sabah (UMS) will consider a suggestion by Labuan Corporation to set up a faculty of oil and gas and shipping at its Labuan Campus.

UMS vice chancellor Professor Datuk Dr Mohd Harun Abdullah said this yesterday in response to the suggestion by Labuan Corporation deputy chief executive officer, Amir Onn Mustpha during the UMS-KAL Town Gown Program here yesterday.

“Oil and gas is an important field of studies and we will look into this matter including the facilities before we can open up the faculty at UMS, Labuan International Campus (UMS-KAL),” he said.

Amir earlier told the media that if UMS-KAL could start the oil and gas school here, students could go for their training and practical at several oil and gas companies here.

“These students can get a job in oil and gas sector here right after they finish their studies later.

“LC is also ready to help UMS-KAL in terms of facilities including land to help the campus to set up the school here,” he said.

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Hak Wilayah Negeri Dan Laut Milik Negeri

November 13, 2012

Kickdefella

Disediakan oleh Mohd Zakri, Wan Khairul Ihsan & Syed Azidi

 Adalah ekstrak dari Akta-Akta dan juga perjanjian yang berkaitan bagi menilai kesahihan tuntutan royalti petroleum oleh Kerajaan PAS Kelantan.

 

Akta 56 Kanun Tanah Negara 1965

 Tafsiran

  • Kanun Tanah Negara (KTN) adalah satu sistem tanah yang seragam dalam negeri-negeri Johor, Kedah, Kelantan, Melaka, Negeri Sembilan, Pahang, Pulau Pinang, Perak, Perlis, Selangor, Terengganu dan Wilayah Persekutuan Kuala Lumpur.
  • “Tepi pantai” ertinya semua tanah yang ada di antara pinggir laut dan tikas air surut. Dari pasang perbani biasa.
  • “Tanah”

a)    permukaan bumi dan segala benda yang menjadi permukaan bumi tersebut;

b)   bumi di bawah permukaan bumi dan segala benda di dalamnya.

c)     segala tumbuh-tumbuhan dan lain-lain keluaran semulajadi, sama ada atau tidak memerlukan penggunaan buruh secara berkala untuk pengeluarannya, dan sama ada di atas atau di bawah permukaan bumi;

d)    segala benda yang bercantum kepada bumi atau yang…

View original post 1,877 more words

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Malaysia: Push for liquefied natural gas

November 13, 2012

Dateline 2012-10-14:

As gas consumption levels reach record highs in Malaysia and across the continent, the country is positioning itself as a regional trade centre for liquefied natural gas (LNG).

With a series of capital-intensive LNG investments, Malaysia will likely see a strong increase in LNG import-export volumes for some time to come.

However, muted economic growth in China and India, and with it slowing demand, could limit the country’s ability to export its new LNG production.

Heavy gas subsidies and increasing LNG demand, which has increased from 315 billion cubic feet (cu ft) in 1990 to more than 1,260 cu ft in 2010, a compounded annual growth rate of 7.2 per cent – is expected to result in Malaysia’s consumption rate outstripping production between 2011 and 2016.

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Tales from the Engineering Floor – Lunch Provided by Client

November 12, 2012

The package says it all:

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Saturday Star 2012-11-10 – Job Opportunities

November 12, 2012

C’mon. Buy my recommendations, or through my Amazon store. Where are those corporate sponsors? Or throw donations at me.

Eid Mubarak, all.

If you need my help to submit your CVs, donate to the blog, and I’ll review your CV to see if it is worthy of my (and my associates’) expectations. If you can’t figure out how to donate, no need to ask.

  • I’m looking for a senior process engineer, 7+ years experience. Send your cv here. Also looking for process safety persons, lead piping designer, lead instrument engineer, and other seniors you think will catch my eye.
  • Carigali Hess is looking for a principal well engineer, senior mechanical engineer, maintenance engineer, construction engineer, project engineer, marine engineer, process safety engineer. Send your cv here,  with a detailed resume stating references, expected remuneration, contact telephone and email address, before 25th November, 2012.
  • Lundin is looking for contracts/cost engineer, structural engineer, piping/mechanical engineer, electrical/instrument engineer, process engineer, FPSO marine engineer. Send your cv here, and here,  before 17th November.
  • Technip is looking for their next biggest asset: You. Visit here soon. Apply to Synergy first.

May I suggest that readers try Bluestacks? Run your Android apps on your Windows tablet, so you can buy that Win8 tablet (and buy me one) without worrying you won’t have anything to play on it!

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!

With all the unfortunate accidents happening in Malaysian waters lately, I think a selection of safety books is in order:

  

Functional Safety, Second Edition: A Straightforward Guide to Applying IEC 61508 and Related Standards, Layer of Protection Analysis: Simplified Process Risk Assessment (Camino del Sol), Safety Critical Systems Handbook: A STRAIGHTFOWARD GUIDE TO FUNCTIONAL SAFETY, IEC 61508 (2010 EDITION) AND RELATED STANDARDS, INCLUDING PROCESS IEC 61511 AND MACHINERY IEC 62061 AND ISO 13849

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Prudent use of PETRONAS’ revenues

November 11, 2012

Dateline 2012-10-14:

OPPOSITION FOLLY: An increase in royalty payments to states to 20pc will hit the nation as much as the firm.

BY all accounts, Petronas’ role in overseeing and managing the country’s oil and gas resources has been exceptional.

Started in 1974 as a small national oil corporation, Petronas has since emerged as Malaysia’s only global Fortune 500 company, with operations in upstream and downstream activities in dozens of countries.

Petronas’ oil and gas reserves now rank 28th in the world, higher than some well-known European or Chinese oil companies, according to a study.

…

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