PDA 1974 should be rejected as revenue derived from O&G to S’wak is insufficient – Rayong

October 16, 2020

Dateline 2020-09-13, Borneo Post:

The Petroleum Development Act 1974 (PDA 1974) should be rejected as the revenue derived from oil and gas (O&G) resources to the state was considerably insufficient, said Parti Sarawak Bersatu (PSB) Youth chief Dr Johnical Rayong Ngipa.

“We assessed the annual sale value of oil and gas resources from Sarawak at normal time could reach at least RM70 billion, almost exceeding 30 per cent of the total annual operating revenue of Petroliam Nasional Berhad (Petronas),” said Rayong during a PSB seminar on Malaysia Agreement 1963, PDA 1974 and Native Customary Rights land at a restaurant in Crown Square here today.

Rayong pointed out the state only received about RM3 to RM3.5 billion in its five per cent annual royalty from oil and gas resources and another RM3 billion from the five per cent state sales tax imposed on petroleum products in 2019.

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Shout Out – IECEx 2020-10

October 15, 2020

IEM invites you (yes, YOU!) to the IECEx National Virtual Conference 2020, 20th October (Tuesday) 8.30am to 5pm. Contact alex.looi@live.com.my, valli@iem.org.my or sitiaisyah@iem.org.my

IECEx BrochureDownload

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Sarawak asst minister: Petronas expected to pay up over RM2b in SST by end of Sept

October 15, 2020

Did I miss the check handover ceremony, or soming?

Dateline 2020-09-13, Malay Mail:

Petroliam Nasional Bhd (Petronas) is expected to pay up over RM2 billion for the sales and services tax for the oil and gas to the State government by this month end, said Assistant Minister in the Chief Minister’s Department (Law, State-Federal Relations and Project Monitoring) Datuk Sharifah Hasidah Sayeed Aman Ghazali.

She said the payment should be done soon, after the computation of the process which includes the penalty and interest.

“The wait will not be much longer, by end of September we should be done. On the exact amount, I’m not sure as it is still being computed,” she told reporters at the Surau Darul Nur Dini upgrading works completion event at Kampung Sungai Midin today.

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B20 biodiesel available throughout Malaysia by next June

October 14, 2020

Dateline 2020-09-10, The Malaysian Reserve:

THE national B20 biodiesel programme for the transportation sector — which was initially postponed at the beginning of the Movement Control Order in March — has recommenced to expedite the uptake of the local consumption of biodiesel.

Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali (picture) said the programme is expected to see petrol stations in Sabah and Peninsular Malaysia retailing the green fuel beginning Jan 1 and June 15, 2021, respectively.

He said the B20 biodiesel is already available in Sarawak starting Sept 1.

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PETRONAS launches liquefied natural gas virtual pipeline system

October 13, 2020

Dateline 2020-09-09, Hydrocarbons Technology:

Oil and gas firm Petroliam Nasional Berhad (PETRONAS) has launched its liquefied natural gas (LNG) virtual pipeline system (VPS) via its regasification terminal in Pengerang in the Malaysian state of Johor.

The project, which is the company’s latest customer-centric solution, aims at facilitating the growth of cleaner energy use across Peninsular Malaysia.

Developed by the Gas and New Energy business Gas & Power and marketed by Petronas Dagangan Berhad, the VPS solution delivers LNG using trucks equipped with cryogenic tanks to off-grid customers.

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Bakong gas field goes onstream offshore East Malaysia

October 12, 2020

Dateline 2020-09-03, Offshore:

 SapuraOMV Upstream says production is now stable from its Bakong gas field offshore Sarawak, which came onstream in June.

Bakong is part of the same SK408 production-sharing contract (PSC) as the company’s operated Larak gas field, which entered production started last December, and the Shell-operated Gorek field which came online this May.

Phase 1 of the SK408 development is now fully onstream. Under a long-term agreement with Petronas, the PSC partners are exporting the gas to the Petronas LNG complex in Bintulu, Sarawak.

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Free Safety Standards E-Learning Course Launched

October 11, 2020

PSA. Though it is for the nuclear (known in Dune as atomic) industry.

Dateline 2020-09-09, Malaysia Sun:

The IAEA has launched a new online learning course specific to the IAEA safety standards in order to provide interested stakeholders a better understanding of the basis of the safety standards, how they are developed and how they are used and applied in the peaceful uses of nuclear applications.

“The newly developed e-learning course, The IAEA Safety Standards Overview, provides an ideal introduction to the purpose and scope of the IAEA safety standards,” said Juan Carlos Lentijo, Deputy Director General for Nuclear Safety and Security of the IAEA, adding that “the course highlights the safety objective and the ten safety principles that form the basis of the safety standards. The course also explains the hierarchy and structure of the safety standards series.”

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Do not cry, Petronas. It is just a cycle…

October 10, 2020

Mark this writer. He believes it just a cycle. I posit the cause of the hit are non-cyclic events. Perhaps he will have a different opinion if s/he is personally affected by The Cooties, not in a good way.

Dateline 2020-09-07, Malaysian Reserve:

IN 2014, the world’s oil market crashed, sending the industry into tatters. The oil price plunge of 2014 came after more than six years of above US$100 (about RM415) a barrel oil price average.

After the spike of oil price after 2008, producers were demonised to ride the high price, pumping more oil and gas (O&G) from the ground, leading to an oil glut before prices fell like a meteor shower. Brent oil prices plummeted from US$120 to US$28.55 a barrel in January 2016.

It is a great plunge considering that crude oil spiked to more than US$160 per barrel after 2008.

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Petronas: Easier access to cleaner energy with virtual pipeline system

October 9, 2020

Dateline 2020-09-08, The Star:

 As part of the company’s latest customer-centric solution to facilitate the growth of cleaner energy use across Peninsular Malaysia, Petronas recently launched the Virtual Pipeline System (VPS) solution via the Regasification Terminal (RGT) in Pengerang, Johor.

The VPS solution that was developed by the Gas & Power business of Gas and New Energy and marketed by Petronas Dagangan Bhd, delivers Liquefied Natural Gas (LNG) using trucks fitted with cryogenic tanks to off-grid customers.

Through the VPS solution, Petronas provides industries in Peninsular Malaysia that are not connected to the natural gas infrastructure with an option to switch to gas as an alternative form of cleaner energy.

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Tengku Zafrul: Govt committed to ensuring Petronas returns to profitability

October 8, 2020

hahahahahahahaha, to carry on from yesterday’s laugh. Or should it be (sad face) as this smacks of subsidy. To PETRONAS. To get profitability and dividends. From PETRONAS.

How about just not getting dividends for the next say 2 years and letting us service providers gracefully transition (with subsidies) to other industries?

Dateline 2020-09-06, Malay Mail:

The government is committed to ensuring that Petroliam Nasional Bhd (Petronas) is able to return to profitability, but it depends on world oil prices.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the loss announced by Petronas two days ago were due to the fall in oil prices but for now they have shown an increase.

“If I am not mistaken, in March and April (Brent crude) oil price fell to US$20 per barrel. At least now there is an increase (in oil price) in the global economy … the projected oil price this year is about US$40 per barrel, so the projection is still within our range,” he told reporters here today.

Tengku Zafrul was commenting on Petronas’ announcement on its net loss of RM21 billion in the second quarter (Q2) ended June 30 2020, dragged by huge impairments on assets and weaker oil prices, against a profit of RM14.7 billion in the same quarter last year.

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