Chemical engineers do good

November 28, 2020

Dateline 2020-11-08, The Star:

PETRONAS was victorious in four out of eight categories at the Institution of Chemical Engineers (IChemE) Malaysia Awards 2020.

During the organisation’s first ever virtual Malaysia Awards ceremony, held on Oct 19, the oil and gas giant also secured four highly commended entries.


Petronas CEO Prepares for Industry’s ‘Great Reset’

November 27, 2020

Dateline 2020-11-06, Petroleum Intelligence Weekly:

Tengku Muhammad Taufik was appointed CEO of Petronas in July 2020 as the Covid-19 crisis was taking its toll on the global energy industry, forcing oil companies to rethink both short- and long-term planning due to concerns about future demand. He discussed the Malaysian state oil company’s strategy for dealing with the pandemic and the low-carbon energy transition at this year’s Energy Intelligence Forum. Select excerpts follow below.

Q: How is the company tackling the short-term demand uncertainty, the safety issues stemming from the coronavirus, and all these talks of the energy transition?

A: Within the corridors of Petronas we call this the “great reset,” and I do not think it is an understatement as many have described the confluence of events as unprecedented. We believe that the industry’s shape, structure, and behavior will be impacted long into the future by this pandemic. There needs to be both a short-term response as well as a medium to long-term strategy. In the short-term, we must address as an ultimate priority the safety and health of our employees.


Malaysia’s Petronas eyes net-zero emissions by 2050

November 25, 2020

Dateline 2020-11-03, Argus (not Argos):

Malaysian oil and gas producer Petronas has announced an aspiration to achieve net-zero emissions by 2050, making it the first state-owned Asian energy company to set such a goal.

“We are making this commitment to make a positive change — not only to ride the energy transition — but because a fundamental shift is needed and the organisation wants to be part of the solution, for the world that yearns for a path towards a more sustainable future,” Petronas chief executive Tengku Muhammad Taufik said.


Oil, gas to play key role for decades despite energy transition: Petronas CEO

November 19, 2020

Dateline 2020-10-28, S&P Global:

Malaysia’s state-run Petronas will be pursuing most of its oil and gas projects, but by using more cost-effective and cleaner processes, as it strongly believes that those fuels will have a major role to play for the next three decades at least, CEO Tengku Muhammad Taufik told the India Energy Forum by CERAWeek Oct. 28.

“Even in the most green of scenarios, oil and gas will still constitute half of the energy basket. We still believe there is life in this business — and not only life, there is promise in it. The only harsh thing is that we need to produce it more cost effectively and cleaner,” he said.

Taufik said that Petronas was carefully looking at its upstream portfolios in about 20 countries to ensure that they delivered value and were cost effective at $40/b — the company’s medium-to-long-term average oil price outlook. In addition, the projects needed to work on containing emissions.


Petronas seeks investors to revive Malaysian upstream as majors exit

October 26, 2020

Dateline 2020-09-22, Energy Voice:

After reporting a $5 billion loss, Malaysian national oil company (NOC) Petronas is eager to see new money flow into its domestic upstream sector, especially as the majors, such as ExxonMobil, seek to exit the Southeast Asian nation.

Industry sources told Energy Voice that Petronas – the sole manager of Malaysia’s oil and gas reserves – is exploring ways to open up its upstream sector to mid and late-life operators. Traditionally, the NOC, has been very particular about who can operate the country’s upstream assets, preferring giant players, such as Shell, ExxonMobil and ConocoPhillips.

But this mindset is changing as most of the major foreign companies have put their Malaysian assets up for sale. Petronas now needs to find new investors, especially companies with experience squeezing more oil and gas from ageing and marginal fields.


Petronas pays over 2bn ringgit in sales tax to Sarawak

October 21, 2020

If TSWZ stepped down due to “fighting demands”, what does that say of the current leadership?

Dateline 2020-09-18, Argus:

Malaysia’s state-owned Petronas has paid the country’s Sarawak state over 2bn ringgit ($480mn) in sales taxes on oil products for 2019, putting a dent in the oil firm’s coffers just weeks after it posted a 21bn ringgit loss for April-June.

“The payment represents Petronas’ full and final settlement for the sales tax for the year 2019 and is evidence of Petronas’ commitment towards achieving a commercial resolution,” the company said. “The payment for year 2020 will be made upon assessments by the Sarawak Comptroller of State Sales Tax.”

The move follows a long dispute that led to Petronas’ former chief executive Wan Zulkiflee Wan Ariffin stepping down after fighting demands by Sarawak, the country’s biggest oil-producing state, for additional tax payments.


Sarawak to finally receive SST cheque from Petronas tomorrow

October 20, 2020

Apparently, they were still waiting.

Dateline 2020-09-16, Malay Mail:

Sarawak’s endeavour to reclaim its rights on its oil and gas resources will reach a milestone tomorrow with Petroliam Nasional Berhad (Petronas) finally handing over a cheque to the state government for the State Sales Tax (SST).

According to a media invite from the Chief Minister’s Office today, Chief Minister Datuk Patinggi Abang Johari Tun Openg will receive the cheque from Petronas at Wisma Bapa Malaysia here at 4pm.


Sarawak to finally receive SST cheque from Petronas tomorrow

October 19, 2020

Will the check bounce?

Dateline 2020-09-16, Malay Mail:

Sarawak’s endeavour to reclaim its rights on its oil and gas resources will reach a milestone tomorrow with Petroliam Nasional Berhad (Petronas) finally handing over a cheque to the state government for the State Sales Tax (SST).

According to a media invite from the Chief Minister’s Office today, Chief Minister Datuk Patinggi Abang Johari Tun Openg will receive the cheque from Petronas at Wisma Bapa Malaysia here at 4pm.


Sarawak Petroleum Contractors Association plans talks with Petronas

October 17, 2020

What, as if they don’t get priority now?

Dateline 2020-09-14, Malay Mail:

The Sarawak Petroleum Contractors Association (Speca) is expected to start talks with Petroliam Nasional Bhd (Petronas) to give priority to oil and gas contractors from the state this November.

Its president, Datuk Rahman Lariwoo, today said this was because the association had received a letter from the Registrar of Societies (ROS) confirming that it had already approved the registration of SPECA.

“The letter is dated Aug 19, 2020, officially this organisation has been approved (its registration with ROS). After this we want to meet with the top management of Petronas to give us more opportunities (to get contracts),” he told a press conference at Wisma Bapa Malaysia, Petra Jaya, here.

He said the association would invite the top management of Petronas to Sarawak to attend the launching ceremony of the association in November.

“If they (Petronas top management) can’t come, we will go there (Kuala Lumpur) to meet and discuss with them,” he said.


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.