Sabah expects to have bigger say in oil and gas development with CSA, says CM

October 4, 2021

Dateline 2021-09-23, Malay Mail:

Initial discussions with Petronas indicate that a Commercial Settlement Agreement (CSA) may be reached soon, allowing Sabah to have a more significant role in its oil and gas development.

Sabah Chief Minister Datuk Seri Hajiji Noor said that the state government’s most recent meeting with Petronas took place on August 24, and that discussions were also held with Putrajaya via Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz, and the response has been “very positive”.

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Covid-19: Sabah records further drop in daily cases, but KK figures jump due to oil rig workers’ cases

October 3, 2021

Dateline 2021-09-25, The Star:

Sabah recorded a further decline of daily Covid-19 cases on Sunday (Sept 19), dropping to 1,356 infections compared to 1,395 previously, but saw the state capital numbers increased from the work-related spread in the oil and gas industry.

State Covid-19 spokesperson Datuk Seri Masidi Manjun said Kota Kinabalu district registered 220 cases, a jump from 160 the day before.

“Only yesterday (Saturday, Sept 18), I mentioned about the challenges of infections among offshore workers padding to numbers, and today we saw the increase in Kota Kinabalu attributed by 78 positive cases involving the workers of an offshore oil rig owned by Petronas,” he said.

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Malaysia’s Kimanis oil exports hit by issue at Shell field

October 2, 2021

Dateline 2021-09-16, Reuters:

Exports of Malaysia’s flagship crude oil Kimanis will fall in October and November after a production issue at an offshore oilfield operated by Royal Dutch Shell (RDSa.L), three sources with knowledge of the matter said.

Petroleum Brunei, one of the stakeholders, cancelled a tender to sell a Kimanis crude cargo that was supposed to load in early November because of the problem, one of the sources said.

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Malaysian contractor takes action against operator

October 1, 2021

I see I know the poster boy in the article.

Dateline 2021-09-13, Upstream:

Malaysia’s Barakah Offshore Petroleum said it has lodged an adjudication claim against UK-based operator EnQuest Petroleum’s Malaysian subsidiary relating to offshore works.

Barakah said the claim by its wholly-owned subsidiary PBJV Group amounts to 73.6 million ringgit (US$17.7 million).

It relates to work done by PBJV pursuant to a letter of award dated 13 July 2018 and signed on 16 July 2018 whereby PBJV was engaged by EnQuest for the provision of the Pan Malaysia Maintenance, Construction and Modification (PM-MCM) contract bearing contract no: EN17051.

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Petronas, Eneos to develop clean hydrogen supply chain

September 30, 2021

Now, is clean hydrogen, black, blue, green or indigo?

Dateline 2021-09-11, The Malaysian Reserve:

Petroliam Nasional Bhd via its subsidiary Petronas Gas and New Energy Sdn Bhd (PGNESB) has signed a memorandum of understanding (MoU) with Eneos Corp (Eneos) to develop a competitive, clean hydrogen supply chain between Malaysia and Japan jointly, and to explore other hydrogen opportunities.

Petronas Gas and New Energy executive VP and CEO Adnan Zainal Abidin said the group is proud to expand its three-decade long energy partnership with Eneos to include hydrogen.

“This is on top of what we have established in the liquefied natural gas (LNG) space.

“More importantly, this partnership is a testament of how industry collaboration can help accelerate our shared aspiration towards a low carbon future,” he said in a statement.

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Growing Champions: Malaysia’s rooftop estate offers valuable solar potential

September 29, 2021

Dateline 2021-09-10, The Edge:

2020 marked a record-breaking year for renewable energy. Solar photovoltaics (PV) will be at the forefront of this continued opportunity in 2021-22, with renewable energy expected to account for 90% of new capacity expansion globally.

This period of accelerating growth is framed by a projected US$6 trillion power sector investment between now and 2025, higher than the expected investment in oil and gas. This is largely driven by expansion in renewable energy.

Solar PV is now a mature and disruptive renewable energy technology, leading capacity additions around the globe. Annual installation of solar PV is expected to reach more than 160gw in 2022, almost 50% higher than in 2019. Rooftop solar is a critical element of this opportunity, unlocking the substantial generation capacity of building stock in Malaysia and across Southeast Asia.

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Climate change experts reiterate concerns over increasing surface temperatures in Malaysia

September 28, 2021

Dateline 2021-09-09, The Sun Daily:

The mercury is rising but it is not fever. Over the past half a century, the surface temperature has risen by 0.13°C in Sarawak, 0.16°C in Sabah and 0.25°C in Peninsular Malaysia every decade.

While this may seem negligible to the layman, climate experts are already sounding the alarm.

Just a 1.5°C increase in temperature will destroy 70% to 80% of the world’s coral reefs, according to Ecotourism and Conservation Society Malaysia president and chief executive officer Andrew J. Sebastian.

Malaysia is already close to that.

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Malaysia’s Petronas hastens decarbonization push, but oil business still vital

September 27, 2021

Dateline 2021-09-07, S&P Global:

Malaysia’s Petronas is intensifying efforts to invest in cleaner energy solutions and deploy innovative technologies to trim its greenhouse gas emissions as it steps outside the realm of its traditional activities to meet its sustainability targets, the state-run energy company said in its latest activity outlook report for 2021-23.

However, the integrated oil and gas company with global operations would not neglect its refining and upstream businesses over the next decade as oil markets will likely offer a wide array of sales and export opportunities in the post-pandemic era, middle distillate marketers and trading strategists at the company told S&P Global Platts.

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Is Malaysia committed to addressing climate chance?

September 26, 2021

Dateline 2021-09-03, The Sun:

“Code Red for humanity”. That was how United Nations secretary-general António Guterres described the Sixth Climate Change Assessment Report released by the UN’s Intergovernmental Panel on Climate Change (IPCC) Working Group 1 last month.

“The alarm bells are deafening and the evidence is irrefutable: greenhouse gas (GHG) emissions from fossil fuel burning and deforestation are choking our planet and putting billions of people at immediate risk,” he was quoted as saying in a statement issued in response to the IPCC report.

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Cover Story: A challenging transition period for Petronas

September 25, 2021

Dateline 2021-09-09, The Edge:

NATIONAL oil company Petroliam Nasional Bhd (Petronas) is going through a period of transition, and could undertake asset divestments, acquisitions into new businesses and other corporate exercises — all of which could dampen earnings in the near term at least.

These changes come at a time when the global economy is being ravaged by the effects of the Covid-19 pandemic and there is a shift away from oil as a source of fuel as environmental, social and governance (ESG) awareness makes cleaner options more desirable. Electric cars are catching on, threatening to sideline internal combustion engines.

“There is one very aggressive consultancy that has told us [oil is going to peak] in the next one or two years. Yes, that soon, mainly because of the convergence of all the OEM (original equipment manufacturer) carmakers,” says Petronas president and group CEO Tengku Muhammad Taufik, in explaining the challenging outlook.

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