Sarawak’s oil for Sarawak

March 1, 2020

Dateline 2019-12-26, FMT:

Suarah Petroleum Group (SPG) would like to refer to the various statements by the CEO of Petronas, Wan Dzulkiflee Wan Ariffin, and Prime Minister Dr Mahathir Mohamad, as reported recently.

SPG reiterates the bigger picture that our stance, and we believe that of the Sarawak government as well, is based on the inequitable distribution of wealth and continuing poor management of Sarawak’s oil and gas resources that is the genesis of the situation which now manifests in our current disagreement with the federal government and Petronas.

To say or imply in any way that Sarawak’s demands are driven by short-term objectives or simply wanting larger royalty now is an over-simplification and misinformation that certain parties have put forward to mask the genuine and legitimate concerns of Sarawak that underpin SPG’s and the Sarawak government’s position.

…

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

Sarawak CM: Petros to manage domestic gas business under Petronas soon

February 29, 2020

Dateline 2020-12-24, Malay Mail:

Chief Minister Datuk Patinggi Abang Johari Openg today said that Petroleum Sarawak Berhad (Petros) will soon be tasked with managing a domestic gas business that is now placed under the Petroliam Nasional Berhad (Petronas).

He said Petros, apart from being vested with the regulatory power over state’s oil and gas resources by the Oil Mining Ordinance 1958, is to ensure the state’s participation in the upstream and downstream activities of the oil and gas industry.

“The next few years will see more involvement of Petros as more investments are expected in the oil and gas and petrochemical industries in the state,” he said in his Christmas Eve’s message.

The chief minister also stressed that the state will continue to introduce new revenue streams to fund its development programmes.

…

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

PETRONAS to develop four marginal fields

February 28, 2020

Jom, let’s have bids by a kampung or daerah cooperative. 1HLDB anyone?

Dateline 2019-12-24, The Edge:

PETROLIAM Nasional Bhd (Petronas) has launched a new licensing round for four marginal field clusters, with the bidding process open from October 2019 to May 2020, according to the national oil firm’s Activity Outlook 2020-2022.

Described as discovered resources opportunities (DRO) clusters, they are the Diwangsa and Rhu-Ara shallow water clusters located off the shores of Peninsular Malaysia, and the Kerisi and Bambazon clusters located offshore Sabah.

The Diwangsa cluster comprises four fields about 275km off the shores of Kemaman, Terengganu, while the Rhu-Ara cluster comprises two fields 150km from the shores of Pahang.

The Kerisi cluster, 115km from the shores of Sabah, contains four fields with water depths averaging 1,200m to 1,500m. The Bambazon cluster comprises two shallow water fields around 20km offshore northwest Sabah.

It has been six years since the national oil firm shelved the development of marginal oilfields in the country.

…

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

Malaysia adds second FLNG to monetise stranded gas from deepwater

February 24, 2020

Dateline 2019-12-20, Riviera:

In November, Petronas held a naming ceremony for its second floating LNG facility, PFLNG Dua, at South Korean shipyard Samsung Heavy Industries (SHI). When it is commissioned in 2020 the FLNG will have the capability to liquefy gas extracted from deepwater reservoirs in depths of up to 1,500 m.

The Malaysian energy company calls PFLNG Dua “bigger and better” than 365-m PFLNG Satu, its first FLNG, which achieved its first LNG cargo on 1 April 2017 and which is moored some 180 km offshore Bintulu in Sarawak, Malaysia. PFLNG Dua will have the capability to produce 1.5 mta of LNG, with a storage capacity of 177,000 m3. By comparison, PFLNG Satu has a capacity to produce 1.2 mta of LNG.

…

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

Cover Story: A taxing uncertainty

February 23, 2020

‘Diplomatic discussions…’ What, we have a Federal ambassador in Sarawak?

Dateline 2019-12-20, The Edge:

THE past year would have been one of redemption of sorts for the Malaysian oil and gas (O&G) industry. There are more upstream activities and players are making up for lost time after prices started to stabilise following the severe downturn that began in 2015.

But just weeks before the year ends, one issue is threatening to put a dent in the sector’s business prospects in the country’s top oil-and-gas producing state, Sarawak.

Last month, what started off as diplomatic discussions over Sarawak’s share of oil revenue, under the broader Malaysian Agreement 1963, escalated into a lawsuit by the state government, which is claiming billions of ringgit in unpaid sales tax from national oil corporation, Petroliam Nasional Bhd (Petronas).

…

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

Thailand calls off long-term LNG import plan with Malaysia’s Petronas

February 22, 2020

Dateline 2019-12-21, Hellenic Shipping:

Thailand has called off a plan for its state-run power producer to import up to 1.5 million tonnes of liquefied natural gas (LNG) per annum from Malaysia’s Petronas, a Thai official said on Friday.

Thailand’s National Energy Policy Council (NEPC) changed its mind this week on a decision in 2017 to have the state-run Electricity Generating Authority of Thailand (EGAT) import up to 1.5 million tonnes of LNG annually.

That in effect cancelled EGAT’s plan to sign a long-term contract with Malaysia’s state oil and gas company Petronas , which won a bid in June this year to supply the LNG to the Thai utility, an EGAT official told Reuters on Friday.

…

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

Malaysia PM: Petronas could be sold to pay down debt

February 18, 2020

Dateline 2019-12-17, The Chemical Engineer:

STAKES in state-energy firm Petronas could be sold to Malaysia’s oil-producing states to raise money for the Government, Prime Minister Mahathir bin Mohamad has told Reuters.

“What we need is to reduce our involvement, the number of shares that we hold, in order to raise some funds for ourselves,” he said. National debt is more RM1trn (US$240bn) according to figures released by the country’s finance ministry in September; while Petronas is estimated to have contributed around 20% of Government revenue in 2019.

…

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

Sarawak CM’s office rubbishes claim by DAP on Petronas stake

February 15, 2020

How do you officially rubbish something? Do you issue a memo?

Dateline 2019-12-16, FMT:

The chief minister’s office today said the purchase of stakes in Petronas is not among the issues discussed by the steering committee on Malaysia Agreement 1963 (MA63).

It said details concerning oil and gas are only deliberated in special discussions between the prime minister and the Sarawak and Sabah chief ministers.

The office rubbished a claim by Sarawak DAP chairman Chong Chieng Jen that Chief Minister Abang Johari Openg had agreed in principle to purchase a stake in Petronas during an MA63 steering committee meeting.

…

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

‘Sarawak can demand from Petronas’

February 14, 2020

Dateline 2019-12-15, The Sun:

Sarawak has contributed immensely to the success of Petroliam National Bhd (Petronas) over the years and thus, it is only fair for the national petroleum corporation to pay the state-imposed 5% sales tax.

In pointing this out, Assistant Minister in Chief Minister’s Department (Law, State-Federal Relations and Project Monitoring) Datuk Sharifah Hasidah Sayeed Aman Ghazali (pix) views Petronas’ reluctance in paying the tax – amounting to RM1.2 billion for the period between January and June this year – as the reason why the state government filing a suit against the company on Nov 21 this year.

“From the statistics, it’s very clear we, Sarawak, contribute hugely to the success of Petronas and therefore, I think all of us agree that the time has come for us to get a little bit of that back to the state – if not more,” she spoke during a public talk on ‘Talking About What Really Matters’, which took place at the Chemsain auditorium along Jalan Rock here on Friday night.

…

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

Sarawak minister says state won’t buy Petronas assets

February 11, 2020

Dateline 2019-12-14, Malay Mail:

The Sarawak government will not consider buying stakes in Petroliam Nasional Berhad’s (Petronas) assets in the state’s territorial waters, Law, State-Relations and Projects Monitoring Assistant Minister Datuk Sharifah Hasidah Sayeed Aman Ghazali said last night.

She said there is nothing to be happy about with the offer mentioned by Prime Minister Tun Dr Mahathir Mohamad that the federal government intended to sell stakes in Petronas to Sarawak and Sabah.

…

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

« Previous Entries
Next Entries »