Malaysian light sweet crude differentials hit fresh 2-year low

January 16, 2015

Dateline 2014-11-04, Hellenic Shipping News:

Premiums paid for Malaysia’s benchmark light sweet crudes extended their decline to a fresh two-year low Monday as fragile petroleum refining margins and competition from non-regional grades dented end-user demand, while the influx of new Kimanis crude added to concerns over recent oversupply conditions, traders said.

Malaysia’s Labuan crude was assessed at a $4.70/barrel premium to Dated Brent on Monday, its lowest level since touching a premium of $4.49/b on August 21, 2012, while the premium for Tapis crude to Dated Brent fell to $2.30/b on Monday, its lowest level since August 15, 2012, when the crude was assessed at Dated Brent plus $2.30/b.

Kikeh was last assessed at a premium of $4.40/b on Monday, its lowest point since $3.92/b on August 13, 2012.

 


Malaysia plans exports of new crude oil grade in November

November 25, 2014

Goodbye, Tapis Crude. Hello, Kimanis.

Dateline 2014-09-10, Reuters:

Malaysian state oil firm Petronas plans to ramp up production at an offshore field this month, with first exports of the new crude grade planned for November, two sources with knowledge of the matter said Wednesday.

Ramp-up of output at the Gumusut-Kakap field is key to Malaysia’s efforts to boost production and exports from several deepwater developments in the eastern part of the country.

Production of the new Kimanis crude grade may reach 80,000-90,000 barrels per day (bpd) next year, with potential to raise production further in the future, said one of the sources.

“If everything goes right, a cargo will load in November,” the source said.


Malaysia’s first oil and gas terminal to open soon

January 22, 2014

Methinks the reporter messed up the title. Also, is it implicit the SOGT never told local residents what to expect during an emergency flaring? Dateline 2013-12-09, The Star:

The country’s first integrated oil and gas terminal is set to be operational by early next year after undergoing several months of a commissioning process.

Project director Noor Illias Mohd Idris said the commissioning process of the RM3.8bil Sabah Oil and Gas Terminal (SOGT) in Kimanis was due to begin soon.

“This is one of our biggest projects and is capable of processing 1.25 million standard cubic feet of gas and 260,000 barrels of oil daily,” he said at a media briefing yesterday.

During the commissioning process, he said, loud noises due to the emission of gas flares as high as 100m would be heard by villagers within Kimanis and nearby areas.

“The flare is normal during commissioning due to the release of gas during equipment testing.


Labuan ‘has potential’ to become O&G hub in the region

December 1, 2012

Dateline 2012-11-14:

Labuan has the potential to become a major oil and gas (O&G) hub with its strategic location, being adjacent to international shipping lanes and its close proximity to deepwater O&G fields offshore Sabah.

Industry players note that Labuan’s proximity to Sipitang and Kimanis in Sabah, where close to RM8 billion in value of downstream facilities are being constructed, is seen as another one of its advantages.

Industry officials also note that Labuan has two major facilities crucial to the O&G activities – the Labuan Shipyard & Engineering Sdn Bhd (LSE) and Asian Supply Base Sdn Bhd (ASB).


Travelling from Site to Site

November 26, 2012

I had to get from Labuan to Kimanis. Unfortunately, the flight schedules didn’t allow me to make it to Kimanis on time. Alternate travel arrangements were made…

 


From Bernama: Sabah-Sarawak Gas Pipeline Akin To PLUS: Don

November 4, 2011

You mean there will be a toll charge, crowded during holidays, and will continuously have repairs that restrict throughput? Jee, I hope they plan to make it six lanes…

Dateline 2010-10-23:

The RM4.6 billion Sabah-Sarawak gas pipeline project linking Kimanis in Sabah and Bintulu in Sarawak, expected to be completed by the end of 2013, will be as successful as the North-South Expressway (PLUS) linking the Peninsular Malaysia states, said a Universiti Putra Malaysia academic.

Faculty of Human Ecology deputy dean Prof Dr Jayum Jawan said the 512km pipeline, which will transport gas from the Sabah Oil and Gas Terminal in Kimanis to customers in Sabah and Petronas’ LNG complex in Bintulu, is the best example of a national project that could bring the people and business communities of Sabah and Sarawak closer to Peninsular Malaysia.