March 12, 2019
Yea, MPRC is still around.
Dateline 2019-02-08, The Star:
MISC Bhd led Malaysia Petroleum Resources Corp’s (MPRC) latest list of Top 100 Malaysian oil and gas services and equipment (OGSE) companies, ranked in order of annual revenue for financial year 2017.
The list showed MISC edging out Sapura Energy Bhd, which was FY2016’s top ranked company. Dialog Group Bhd meanwhile has maintained its position at third place.
July 7, 2018
Apologies for focussing on market news, its a slow news cycle.
Dateline 2018-05-31, NST:
The oil and gas companies under Kenanga Research’s coverage are likely to see deteriorating performance with lower number of outperformers.
Kenanga Research said only two out of seven companies that released their latest interim results had outperformed. They were Dialog Group Bhd and Sapura Energy Bhd.
Another company in the firm’s universe is Bumi Armada Bhd, which is due to release its first quarter results today.
“The disappointment ratio was also higher at 31 per cent (assuming Bumi Armada’s results came within expectations) versus 13 per cent in the fourth quarter of 2017 even with the anticipation of first quarter being a seasonally weak quarter,” Kenanga Research said today.
It noted that upstream services players such as Alam Maritim Resources Bhd, Coastal Contracts Bhd and Dayang Enterprise Holdings Bhd had missed expectations due to stubborn fixed costs amidst unsatisfactory vessel utilisation.
Gas Malaysia Bhd and Petronas Dagangan Bhd also had a soft start dragged by higher product costs and sliding sales volume.
April 1, 2016
Dateline 2016-02-10, The Star:
Now that leading local oil and gas (O&G) player Dialog Group Bhd has called off its marginal oil field exploration project, the question is: will the other local companies, which had been awarded risk sharing contracts (RSC) by Petroliam Nasional Bhd (Petronas), be doing the same?
Since 2011, Petronas had begun a process of awarding RSCs to local companies which are partnered with international players to extract hydrocarbon assets in fields which have reserves of less than 30 million barrels of oil.
But this was when oil prices were over US$90 per barrel. At current prices of around US$30 per barrel, the extraction of oil in marginal oil fields, at least in Dialog’s case, has become no longer viable.
March 29, 2016
Ah, now I know one reason Dialog Offshore Engineering shut down.
Dateline 2016-02-04, The Star:
Petroliam Nasional Bhd (Petronas), Dialog Group Bhd and Australia-based petroleum company Roc Oil Co Ltd have aborted a proposed project estimated to cost more than RM3bil to develop and produce petroleum off Bintulu, Sarawak.
In a filing with Bursa Malaysia, Dialog said the small field risk service contract to develop the Balai cluster fields was terminated due to the difficult business environment and persistently depressed oil price.
The oil and gas-based technical services provider said BC Petroleum Sdn Bhd — which is 32% owned by its unit Dialog D&P Sdn Bhd, 48% by Roc Oil Malaysia (Holdings) Sdn Bhd and 20% by Petronas Carigali Sdn Bhd — had ceased operation and had on Wednesday signed a termination by mutual agreement with Petronas.
March 8, 2015
Dateline 2104-12-22, The Maritime Executive:
Petronas, Royal Vopak and Dialog Group Berhad have agreed to develop an industrial terminal for Petronas’ Pengerang Integrated Complex in the Johor district of Malaysia. The agreement is part of a larger plan to establish Malaysia as a rival to global oil hubs such as Rotterdam, Houston and Singapore.
The terminal, developed under the Pengerang Terminal Phase 2 project, will have a storage capacity of up to 2.1 million cubic meters (cbm) for crude, refined products, petrochemical products and LPG. The marine infrastructure includes 12 berths with a jetty facility with water depths of up to 24m capable of handling VLCCs. Berths for unloading and reloading of LNG vessels up to QMax-sized are also included in the plans
October 25, 2014
Dialog, again. Dateline 2014-08-12, Business Spectator:
A previously silent player in the Roc Oil takeover saga has emerged as a little known Malaysian company, which may have helped to broker the successful $474 million offer from Chinese conglomerate Fosun.
Dialog Group, a Malaysian company providing technology services to the oil and gas industry, has emerged as a key player in the dialogue between Fosun and Roc Oil, reporting by Data Room has discovered.
It is believed that Dialog secretly accumulated a 4.3 per cent holding in Roc Oil via ANZ earlier this year. An ANZ subsidiary is listed as the second-biggest holder in Roc Oil, after fund manager Allan Gray, according to Bloomberg data.
October 21, 2014
Way to go, NZ! Dateline 2014-08-09:
TAN Sri Dr Ngau Boon Keat credits his success as a leading businessman in Malaysia’s oil and gas (O&G) industry today to the quality education he received years ago in New Zealand. In particular, he speaks highly of his professors and lecturers at the University of Canterbury, whom he said have all been instrumental in cultivating his interest in the industry.
In fact, the words of one his lecturers have been the guiding principle in his life and in running his business Dialog Group Berhad.