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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COLUMN | IT’S ALL COMING BACK TO ME NOW: SAPURA ENERGY

April 7, 2022

Dateline 2022-03-21, Baird Marine:

After looking at the ignominious end of Swire Pacific Offshore, the offshore supply vessel owner sold for a pittance to rival Tidewater (here), we turn our attention this week to another troubled Asia offshore powerhouse: Sapura Energy.

Here’s another business that has run out of room to manoeuvre.

The biggest but maybe not the best
Sapura is the biggest offshore construction company in Asia, the biggest rig owner in Asia outside of China, and a significant domestic producer of oil and gas in Malaysia via a joint venture with Austria’s OMV.

The company owns a swag bag of offshore construction assets, including its flagship Sapura 3500 DP3 derrick lay barge, plus five other derrick lay vessels, three fabrication yards in Malaysia, including Labuan Shipyard, a DP subsea construction vessel (117m LOA Sapura Constructor), three dive support vessels, two anchor handlers, six accommodation vessels including the 300-passenger, eight point moored Sarku-300, which is being advertised for sale), five ROVs, a launch barge, and two survey vessels. Sapura also owns a fifty per cent stake in a deepwater pipelay company in Brazil in conjunction with Seadrill, which owns six magnificent Dutch-built flexlay construction vessels there, each fitted with 250-tonne, active heave compensated cranes rated for 3,000 metres of water depth (here).

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Random Promo – Loving Reaper

April 6, 2022

Disclaimer – I have no financial interest, I am a Patreon backer of the author, Jenny Jinya.

Have a look at her work at Loving Reaper, and see if it doesn’t tug your heartstrings if you have any joy in pets and animals. Buy her hardcopy compilation.

https://www.instagram.com/p/CXrWXKnqCmL/

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Hajiji launches RM1 billion complex to promote green energy

April 5, 2022

Dateline 2022-02-14, NST:

 The Sabah Maju Jaya Renewable Energy Industrial Complex (SMJREIC) valued at RM1 billion will be constructed on a 10ha piece of land in the Sepanggar Bay Container Port.

Once completed, it will house a centralised edible oil bulking terminal with a capacity of 30,000 metric tonnes.

And it is also the first palm oil refinery complex with a capacity of 100,000 metric tonnes per annum as well as a hydrogenated vegetable oil (HVO) plant, the first in Malaysia with a capacity of 250,000 metric tonnes per annum producing sustainable aviation fuel (SAF).

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Malaysia’s Sapura Energy served with ‘winding up petitions’ for five key subsidiaries

April 4, 2022

May we have some words from the current leadership, one of which is from an NOC, which is still tindasing us small fry?

Dateline 2022-02-15, Upstream Online:

Cash-strapped Malaysian offshore engineering and construction player Sapura Energy has been served with “winding-up petitions” for several subsidiaries that involve outstanding claims from vendors and other service companies.

In signs of deepening financial trouble, Sapura informed the Bursa stock exchange on Monday about the predicament of five of its wholly owned subsidiaries.

Those served with petitions include Sapura Fabrication Sdn Bhd, Sapura Project Services Sdn Bhd, Sapura Subsea Services Sdn Bhd, Sapura Offshore Sdn Bhd and Sapura Pinewell Sdn Bhd, the company said in an announcement to the stock exchange.

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