Petronas Dagangan and PETROS complete business transfer, operationalise Sarawak LPG business

June 14, 2022

Dateline 2022-05-05, The Edge:

Petronas Dagangan Bhd (PDB) and Petroleum Sarawak Bhd (PETROS) on Thursday (May 5) announced the completion of the business transfer and share subscription agreement for PETROSNiaga Sdn Bhd.

This conclusion marks the operationalisation of the partnership for the liquefied petroleum gas (LPG) business in Sarawak.

In a joint statement, the companies said that starting Thursday, all (green) Gas Petronas gas-filled cylinders are PETROS’ (red) as marketed by PETROSNiaga and all existing Petronas LPG dealers are now PETROS LPG dealers.

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Posted by Wata

Shoutout – 2022-07 IEM Annual Dinner

June 6, 2022

To celebrate lifting of restrictions, and hopefully work picking up, could you support me as IEM Council Member / Oil & Gas Tech Div Member / Corporate Affairs Stand Comm Sec (… you get the idea), and purchase a table or 3? Hey, and perhaps I’ll arrange After Dark entertainment…

Email : sec@iem.org.my Website : http://www.myiem.org.my

iem-annual-dinner-2022-07-23-formDownload

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Posted by Wata

Anniversary – Flixborough

June 1, 2022

Process Safety engineers never forget.

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Shout Out – IEM 2022-06 Marine Industry Conference

May 30, 2022

IEM is organising the 1st Malaysia Marine Industry Conference, on 22nd June 2022 (palindrome right there). Register here (physical presence) or here (Meta presence). Please, I need to get my reference numbers up.

and here is the brochure

iem-marine_mmic-2022Download

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Cover Story: Petronas seeks to clear the air

May 24, 2022

And PETRONAS will give lip service, no? I don’t see rates going up.

Dateline 2022-04-28, The Edge:

…

While most of the news was positive, there were also allegations made by the Malaysian Oil & Gas Services Council (MOGSC) and Malaysia OSV Owners’ Association (MOSVA) that Petronas had been squeezing them to cut corners and, as a result, the national oil company generated huge profits at the expense of O&G players.

Both MOGSC and MOSVA wrote to Petronas in February, stating their grouses. The Edge, which was given a copy of their letters, ran a story on the issues raised by the two organisations last month.

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My Say: Cyber risks in Malaysia’s oil and gas industry

May 23, 2022

Dateline 2022-04-28, The Edge:

There are two fronts in the Russian invasion of Ukraine: one is the physical fighting and airstrikes and the other is in cyberspace, where cybersecurity experts are battling disinformation, psychological warfare and cyberattacks. Cyberattacks of this nature can and have led to power outages, railway disruptions, interruption of electoral polling systems and, in the case of the war in Ukraine, a disruption of its biggest fixed-line telecommunications network and the ever-present threat of a cyber catastrophe.

The oil and gas (O&G) industry is not immune to these kinds of vulnerabilities. The May 2021 Colonial pipeline hack in the US not only compromised the business’ networks and shut down its operations but also deprived the East Coast of a pipeline that supplied nearly half the region’s fuel. Russia’s invasion of Ukraine on both the physical and cyber fronts have exacerbated fears of future cyberattacks by malicious actors on critical energy infrastructure to gain financial, criminal or geopolitical advantage. Findings from the State of Ransomware 2021 revealed that 43% of energy, O&G and utility firms have admitted to paying ransom for ransomware assaults. Another 23% of these firms expect to be affected by ransomware in the future.

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Malaysia’s Petronas sees higher demand as focus turns to energy security

May 22, 2022

Dateline 2022-04-27, Zawya:

Malaysian state energy firm Petronas is seeing growing demand for gas as the world lifts COVID-19 restrictions and prioritises energy security due to Russia’s invasion of Ukraine, its chief of upstream operations told Reuters on Wednesday.

Petronas, the world’s fourth-biggest producer of liquefied natural gas (LNG), has seen high demand from Europe, Japan and South Korea since last year, said Adif Zulkifli.

“We are producing the maximum that we can now. There’s a lot of requests for more cargoes in Bintulu,” said Adif, referring to Petronas’ massive LNG complex in the eastern state of Sarawak.

“To increase production is not as easy,” because of under-investment in recent years, he said.

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Malaysia’s biodiesel group opposes reduction of biofuel mandate

May 21, 2022

Dateline 2022-04-26, Reuters:

Malaysia should not cut its biodiesel mandate as it would lead to a crash in crude palm oil prices, a biodiesel producer group said on Tuesday, after Indonesia’s export ban on the edible oil spurred concerns over its use in fuel versus food.

The Malaysian Palm Oil Board (MPOB), an industry regulator, told Reuters on Monday countries should slow the use of the edible oil as biofuel to ensure adequate supply for use in food, warning of a supply crisis following Indonesia’s ban.

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Govt to kick off 15 initiatives this year to grow OGSE industry

May 20, 2022

Hahahahahaha.

Dateline 2022-04-26, The Edge:

The Economic Planning Unit (EPU) and Malaysia Petroleum Resources Corporation (MPRC) plan to kick off 15 initiatives this year under the National Oil & Gas, Services and Equipment (OGSE) Industry Blueprint 2021-2030.

Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said the 15 initiatives, aimed at strengthening and growing the OGSE industry, will continue to address systemic issues confronting the sector, specifically in the areas of technology, talent, and funding.

“EPU, alongside MPRC, will continue to work closely with ministries, agencies, Petronas, industry players and relevant stakeholders to realise the vision and goals set out in the OGSE blueprint,” he said at the second steering committee meeting for the blueprint.

…

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Govt looking at targeted fuel subsidy mechanism, says Mustapa

May 19, 2022

This happen?

Dateline 2022-04-26, FMT:

The government is likely to introduce a targeted fuel subsidy mechanism, especially for the lower income group, to cushion the impact of rising crude oil prices.

Economic affairs minister Mustapa Mohamed said the government was still working on a suitable structure and expected it to be completed soon.

He also noted that the finance ministry was currently looking at whether the government was able to bear the subsidy as prices for RON95 petrol and diesel remained for the time being.

…

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