Petronas still driving Malaysia’s upstream

April 17, 2022

Dateline 2022-03-08, Petroleum Economist:

The state-owned firm is doing most of the running, but IOCs are also active as the country seeks to sustain both production and LNG exports in particular
Malaysian state-owned Petronas’ policy of pressing on with offshore development despite the pandemic began to reap dividends around the turn of the year, with reports of several new finds and fresh drilling activity off the coast of Sarawak state.

The firm announced another offshore gas discovery in the area in January, at Hadrah-1in Balingian province. The success of the wildcat followed similar finds at Sirung-1 and Kulintang-1 last year.

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Rising oil prices – fuel subsidy costs Malaysia more than it profits, each US$1 increase is a RM410m deficit

April 16, 2022

Dateline 2022-03-09, Paul Tan:

That the Russian invasion of Ukraine is having a profound impact is undeniable, and it’s not just from aspects of the immediate strife. Oil prices have also spiked as a result of the crisis, having gone past the US$120 per barrel mark, and it is this increase that raises the question – is there a possibility of a readjustment of the fuel subsidy in Malaysia, given the rising pressure the increase is putting on government finances?

As The Star reports, rising oil prices are generally positive for a net oil and gas exporting country like Malaysia. According to a CGS-CIMB Research report, it is estimated that for every US$1 (RM4.18) per barrel average increase in oil prices, the government stands to add some RM370 million in revenue.

However, given that the country has a fuel subsidy mechanism in place, that same US$1 per barrel increase will set the government back by around RM780 million in fuel subsidies, based on the price of RON 95 and diesel remaining unchanged at their ceiling price of RM2.05 per litre and RM2.15 per litre respectively. To give an idea of how much subsidy is in place, RON 97 is currently priced at RM3.45 per litre this week.

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Woman engineer excels in oil and gas industry

April 15, 2022

Dateline 2022-03-07, The Borneo Post:

Having women in a male-dominated industry is an advantage to any organisations.

Senior Operations Support Engineer for Sabah Deepwater Operations (Gumusut Kakap and Malikai fields) of Shell Malaysia, Joyee Cheah said the nature of being a woman helps her contribute back to the largest natural gas producer in the country.

“I am leaning towards benefits of being a woman who tends to be a detailed person, a good listener, giving importance to your thoughts, able to provide a diverse perspective and contributions back to the team,” she said.

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Johor caretaker MB: State govt to ensure Muar becomes oil and gas hub

April 14, 2022

What now?

Dateline 2022-03-06, Malay Mail:

The Johor government wants to make Muar district located in the northern part of the state as an oil and gas (O&G) hub with the involvement of private investors.

Johor caretaker Mentri Besar Datuk Hasni Mohammad said the development, spanning a 920-hectare area, was set to be a game changer for the district.

There were also plans to turn Muar into Malaysia’s Furniture City, besides addressing the issues of illegal factories as well as raw materials supply for the furniture industry, he said.

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Minister: Soaring oil prices gives Malaysian govt room to continue fuel subsidies

April 13, 2022

Dateline 2022-03-06, The Malay Mail:

The soaring world crude oil prices currently gives some room to the government to continue providing fuel subsidies, says Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed.

However, he acknowledged that the price hikes due to the conflict between Russia and Ukraine would also see a rise in prices of other goods, especially imported items such as wheat and corn.

He said the government would continue to monitor the situation, adding that it would definitely pose a challenge to the country’s financial management.

“(The increase in oil prices) will increase revenue but some of the revenue will have to be channelled elsewhere. Estimates have not been made, but at the moment it only depends on assumptions.

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Malaysia’s first ENGINEER and MARVEX exhibition sets to drive positive change for the economy

April 12, 2022

I was one of the backroom girls for an event.

Dateline 2022-03-01, The Star:

The Engineering and Air-conditioning, Refrigeration and Ventilation (ACMV & R) industries in Malaysia will come together for four days from March 16 to showcase the future of engineering.

The features will be focusing on the latest solutions and technologies in sustainability, renewable energy, air quality and more towards progressing the nation’s engineering, ACMV and R industry as well as reigniting economic activity.

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CM: Sarawak aims to be regional renewable energy powerhouse

April 11, 2022

Dateline 2022-02-21, Malay Mail:

Sarawak aims to attain sustainable growth and prosperity by becoming a South-east Asian powerhouse to provide the region with affordable and reliable renewable energy, says Chief Minister Tan Sri Abang Johari Openg.

“This target can be achieved as Sarawak is blessed with abundant indigenous resources, including hydropower and natural energy resources that could be harnessed, while sustainability initiatives have been put in place to minimise the environmental impacts of these ventures.

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Aker Solutions manager charged again in Malaysia

April 10, 2022

Dateline 2022-02-21, Energy Voice:

Malaysia has filed a fresh charge against a local manager of Norwegian oil services provider Aker Solutions, accusing him of providing false information to the country’s corporate regulator, according to the company and a court document, reported Reuters.

Ahmad Hatta Kamaruzzaman allegedly submitted false information about Aker Engineering Malaysia, a local unit of the group, to Malaysia’s Companies Commission in 2017, according to a charge sheet seen by Reuters and confirmed by a prosecutor.

He has pleaded not guilty, the company said in a statement.

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Kasawari CCS shows hydrocarbons and energy transition not mutually exclusive

April 9, 2022

Dateline 2022-02-18, Upstream:

Petronas awarding parallel front-end engineering and design contracts for its Kasawari carbon capture and storage project offshore its native Malaysia serves as a timely reminder that the increasingly global decarbonisation drive is continuing to build momentum.

But it also highlights the ability of conventional oil and gas projects to continue to attract billions of dollars’ worth of capital expenditure, with demand for hydrocarbons looking set to prevail until at least 2050 and likely well beyond.

The Malaysian national oil company appears to be on track — as intended — to take the final investment decision later this year on Kasawari CCS (Kasawari phase two), which is being touted as the world’s largest offshore CCS project.

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Aker Solutions says charge against manager Ahmad Hatta ‘groundless’

April 8, 2022

Dateline 2022-02-18, The Edge:

Norway-based Aker Solutions’ Malaysian operating unit Aker Solutions Malaysia Sdn Bhd said on Friday the oil and gas support services group considers the charge on Friday against Aker Engineering Malaysia manager Ahmad Hatta Kamaruzzaman, who is accused of giving false material information to the Companies Commission of Malaysia, as “groundless”.

In a statement, Aker Solutions Malaysia said the group remains committed to cooperating with local authorities in the countries where its operates.

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