MRO players to gain from rising O&G activities

March 13, 2019

Note that the article is focussing on downstream activities, not us muck in the mud folks.

Dateline 2019-02-07, The Sun:

More of Malaysia’s oil and gas services and equipment (OGSE) companies are expected to set their sights on the downstream sector mainly in the maintenance, repair and overhaul (MRO) segment with the completion of Petronas’ Pengerang Integrated Complex (PIC) in southern Johor said Malaysia Petroleum Resources Corp (MPRC).
According to its “Top 100 OGSE Companies in Malaysia FY2017” report, while volatility of the oil price is expected to persist in 2019 global oil and gas development activities are expected to increase in the coming years, with operators aiming to move forward to develop new offshore fields, particularly those located in deep waters.


Experts divided on special dividend payment from Petronas

February 14, 2019

Dateline 2019-02-04, FMT:

An economist has urged the government to review its special dividend payment from Petronas, saying it may affect the state oil firm’s capital expenditure programmes.

Yeah Kim Leng, a professor of economics at Sunway University, suggested that the government consider other revenue sources such as the monetisation of assets instead of Petronas reserves which may suffer due to the low oil prices.

“If Petronas is unable to carry out its capital expenditure programmes, it may attract negative ratings from international credit rating agencies,” he added.


Petronas denies preferential treatment, lodges report

February 12, 2019

Dateline 2019-01-31, Borneo Post:

Petroliam Nasional Bhd (Petronas) yesterday denied allegations in a blog post and online site that the it gave preferential treatment to certain companies.

An online site alleged that Petronas gave preferential treatment to an oil and gas upstream services provider.

In a statement, Malaysia’s fully integrated oil and gas company said it had filed reports with relevant authorities in regards to the posting and would leave the matter to the authorities for their further action.

“With reference to malicious allegations contained in a post in an unverified online site, Petronas wishes to state, in the strongest terms, that the allegations are unsubstantiated and untrue.


Analysis: Malaysia’s RAPID to boost Asia’s product supply and Saudi crude oil flows

February 11, 2019

Dateline 2019-01-23, S&P Global:

The start-up of the 300,000 b/d Refinery and Petrochemical Integrated Development, or RAPID, project in Malaysia will boost Asia’s refining capacity growth in 2019, increase Saudi crude inflows to the region and add to the supply of refined petroleum products.

The RAPID facility, operated by Pengerang Refining and Petrochemical or PRefChem, a joint venture between state-run Petronas and Saudi Aramco, is among the largest greenfield oil refineries to start operations in Southeast Asia in recent years, supplementing the existing refining hub in adjacent Singapore.


Aramco, Petronas near startup of Malaysia’s RAPID refinery

February 4, 2019

Dateline 2019-01-04, Oil & Gas Journal:

The jointly held Saudi AramcoPetronas $27-28 billion Pengerang Integrated Complex (PIC) in southeastern Johor, Malaysia, is preparing for official startup of Pengerang Refining & Petrochemical (PRefChem) subsidiary Pengerang Refining Co. Sdn. Bhd.’s 300,000-b/d refinery and petrochemical integrated development (RAPID) project (OGJ Online, Mar. 29, 2018).

Mechanical completion at PIC’s RAPID project was achieved on Nov. 29, 2018, and all critical units under contractor Petrofac Ltd.’s scope have now started commissioning activities in advance of the fire up of the refinery’s crude distillation unit later this month, the service provider said.


CIDB, Petronas to drive oil and gas construction excellence

January 24, 2019

Dateline 2018-12-14, The Star:

The Construction Industry Development Board Malaysia (CIDB) has partnered with Petronas to drive construction excellence in the oil and gas (O and G) sector through the Construction Industry Transformation Programme 2016-2020 (CITP).

CIDB Chief Executive Datuk Ahmad Asri Abdul Hamid said the collaboration would focus on five key areas, namely corporate agreement, procurement best practices, technology development, material and quality assurance, as well as contractor and construction personnel development.


Petronas Wants Malaysia to be Regional LNG Bunkering Hub

January 22, 2019

Dateline 2018-12-14, MarineLink:

Malaysian oil and gas company Petronas plans to introduce liquefied natural gas (LNG) bunkering operations at the country from the second half of 2019.

“As a major player in the LNG business, PETRONAS is well-positioned to support the strategic intent for Malaysia to become the regional LNG bunkering hub,” it said in the Petronas Activity Outlook 2019-2021 report.