Cost rationalisation in O&G needed to improve efficiency

April 23, 2015

Was this after or before the CORAL 2.0 initiative announcement? And what is this 10% reduction capex rubbish? I have been referred to the 30% reduction memo.

Dateline 2015-03-10, The Borneo Post:

Significant cost rationalisation in the Malaysian oil and gas sector is expected by analysts to improve operating efficiency.

According to the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research), most, if not all, global oil and gas producers including Petroliam Nasional Bhd (Petronas) have reiterated that there will be significant cost rationalisation in 2015 and beyond.

“Petronas was quoted in the media indicating that it will be reducing capital expenditures by -10 per cent and operating expenditures by approximately -25 per cent to -30 per cent,” MIDF Research said.

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High activity levels for O&G players

March 21, 2014

Dateline 2014-02-13, Borneo Post:

It is with much optimism that oil and gas players enter 2014 in Malaysia with projects progressing to the next stage and massive job awards on the line.

According to analyst Aaron Tan from MIDF Amanah Investment Bank Bhd (MIDF), Petroliam Nasional Bhd (Petronas) will have the final investment decision (FID) on the RM60 billion Refinery and Petrochemicals Integrated Development (Rapid) complex in Pengerang, Johor whithin the first quarter of 2014.

“We view this as a positive sign as it will spur the downstream petrochemical sector. So far, Petronas has signed agreements with Versalis SpA (Italy), Itochu (Japan) and PTT Global Chemicals (Thailand) as joint-venture partners to build specialty chemical plants,” he said in the MIDF Equity Beat report yesterday.

“We do not, however, think that the Rapid initiative will directly benefit most Bursa-listed oil and gas service providers these companies are mainly upstream offshore support service providers.

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MIDF upbeat on O&G sector

December 10, 2013

Dateline 2013-10-09, Sin Chew Git Poh:

MIDF Research maintained its positive stance on the oil and gas sector following encouraging signs for the sector.

In its wildcard report on monthly review and outlook of the oil and gas industry, MIDF Research said 2013 had been a year packed with awards of contracts, new oil and gas discoveries and possibly more mergers and acquisitions to expand and strengthen income streams.

“We can expect a good mix of local, regional and international jobs to be awarded to Malaysian oil and gas players.

“And, we can expect Petronas to keep the momentum going as it pushes for more deepwater, high pressure, high temperature and high carbon dioxide oil fields,” it said.

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