Terengganu drops Petronas suit

May 8, 2012

I say, What¿

Dateline 2012-04-23:

The Terengganu government has dropped its long-standing legal battle with national oil corporation Petroliam Nasional Bhd (Petronas) and the federal government over unpaid oil royalty payments amounting to several billion ringgit.

In response to queries from The Edge Financial Daily, Petronas said the Terengganu government had withdrawn its law suit on March 21 in “respect of the payment of oil and gas royalties”.

The oil corporation, Malaysia’s only Fortune 500 listing, declined to provide details of the settlement.

“We are not in a position to explain the settlement terms as these are under the purview of the federal government and the Terengganu government,” Petronas said.

…

Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: , , , | Permalink
Posted by Wata

Anwar: Oil profit enough to cover education bill

April 27, 2012

Dateline 2012-04-08:

Datuk Seri Anwar Ibrahim has insisted that Malaysia’s oil revenue could cover shortages in the country’s education bill, dismissing Datuk Seri Najib Razak’s claim yesterday that abolishing a federal student loan scheme would cost taxpayers RM43 billion.

The opposition leader, speaking at a rally in Stadium Melawati here last night, also disputed the figure given by Najib and said his calculations were much lower.

The prime minister was reported as saying yesterday that Anwar’s proposal to abolish the National Higher Education Fund Corporation (PTPTN) loan scheme was not feasible as it would cost the government RM43 billion, thus incurring an additional tax burden on Malaysians.

…

Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: , | Permalink
Posted by Wata

Petronas denies oil field find

March 28, 2010

My take: PETRONAS might be coy with this information until the current royalty issues are sorted out. Or maybe they don’t want to be seen as bailing out the nation in the near future. Or maybe Kuli was just plain wrong.

Can anyone donate a copy of ‘The Young Turks of PETRONAS‘? I’ve been meaning to read it, but haven’t been able to get my hands on it yet. Maybe if it gets translated to the Kindle
, and maybe when the Kindle finally gets to our shores…

Taken from The Star, deadline 2010-03-25:

KUALA LUMPUR: Petronas has strongly denied reports that it has made a big discovery of an oil field which is said to be one of the biggest in the world.

“We adopt a well-established reporting process whereby we make progress report to the board and stake holders as well as to the Government.

“There is no way we are hiding any information with regards to the discovery as we have no intention to hide any news,” exploration and production business vice-president Ramlan A Malek told a media briefing yesterday.

He added that an announcement would have already been made if the company had found a big oil field.

You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.

10 Comments | investment, Malaysia, oil and gas | Tagged: , , , , | Permalink
Posted by Wata

Article ‘Kenapa BN Mahu Sangat Rampas Kelantan’ – Take 4

April 4, 2008

Still commenting on the above article, I had some word on the map.

Peta rangkaian hidrokarbon Semenanjung Malaysia

First thing I would like to point out is that the author says the green and blue line represents an oil transportation system.

At the moment, peninsular Malaysia has no oil transportation system. And there are no plans to have a consumer level transportation system (i.e. from refinery to distribution centre, to being piped into petrol stations and the like).

The blue line going from Kota Bharu to Gurun is possibly referring to the Trans-Peninsular Pipeline, which is getting a lot of press release last month (April, 2008). The pipeline will be used to transport crude from Yan to KB, with the intent of saving the travel time to send crude carriers around the Malaysian Peninsular via the Malacca Straits.

You can read articles on the commercial feasibility of the pipeline here and here.

4 Comments | engineering, investment, Malaysia, oil and gas | Tagged: , , , , , | Permalink
Posted by Wata

Article ‘Kenapa BN Mahu Sangat Rampas Kelantan’ – Take 3

April 1, 2008

Continuing my expansion of the above article, I thought I would comment on the map that is displayed in the article.

Peta rangkaian hidrokarbon Semenanjung Malaysia

First thing I would like to point out is that the author says the green and blue line represents an oil transportation system.

At the moment, peninsular Malaysia has no oil transportation system. And there are no plans to have a consumer level transportation system (i.e. from refinery to distribution centre, to being piped into petrol stations and the like).

However, the blue line can be said to represent the Peninsular Gas Utilization (PGU) routing. To quote from the website:

“Through its listed subsidiary PETRONAS Gas Bhd, PETRONAS has since 1984 been implementing the three-phase Peninsular Gas Utilisation (PGU) project, an infrastructure development project to process and transmit natural gas fed from the fields offshore Terengganu to end-users in the power, industrial and commercial sectors. The entire PGU system now spans over 1,700km, comprising main gas transmission pipelines, supply pipelines and laterals.”

Peta PGU

That covers the blue pill. Let’s chat about the green pill some other time.

10 Comments | engineering, Malaysia, oil and gas | Tagged: , , , , , , | Permalink
Posted by Wata

Article ‘Kenapa BN Mahu Sangat Rampas Kelantan’ – Take 2

March 21, 2008

Continuing my expansion of the above article, I thought I would list down the operators and comments of the acreage listed.

  • Blok A18 – as the original author says, the acreage is operated by the Carigali Hess Operating Company (CHOCas its known to friends). It’s located in the Malaysia Thailand Joint Development Area (JDA)
  • Blok B17 – the PSC for this area is PETRONAS Carigali (JDA) Sdn Bhd, also in the JDA.
  • Block C19 – the PSC for this area is Carigali-PTTEP International Operating Company (CPOC), also in the JDA.
  • PM3 – operated by Talisman (Malaysia) Ltd.
  • Sub-Blok Ular – operated by PETRONAS Carigali Sdn Bhd (PCSB).
  • PM301 & PM302 – CS Mutiara, though I’m not sure if they have had to relinquish the acerage yet. It’s interesting to note that this aceragetouches the Kelantanese shoreline.
  • PM303 – Shell, PSC awarded in 1999, though yet to produce.
  • PM311 & 312 – joint venture between Murphy Peninsular Malaysia Oil Co Ltdand PCSB, yet to produce.

So, of the fields listed by the author, 3 are in the JDA, one is in Kelantanese waters, and the rest are in Terengganu waters.

It’s interesting to note that we do not have a JDA for disputed resources between Malaysia, Indonesia and Brunei. Would that have reduced the amount of hydrocarbons that could be claimed by Sabah and Sarawak?

1 Comment | engineering, Malaysia, oil and gas, Uncategorized | Tagged: , , , , , , , , | Permalink
Posted by Wata