November 8, 2022
Dateline 2022-10-23, Offshore Energy:
On 23 August 2022, Petronas informed it kicked off the development of a gas delivery facility at Tanjung Kidurong, Bintulu, that will, from next year, supply natural gas to SPSB and SEB.
The Bintulu Additional Gas Sales Facility (BAGSF-2) is designed with a capacity to deliver up to 390 million standard cubic feet of gas per day (MMscfd).
The facility will deliver 160 MMscfd of LNG to a Sarawak Government-owned methanol plant, which will be operated by SPSB. The methanol plant is currently under construction at Tanjung Kidurong. Another 70 MMscfd will be supplied to Sarawak Energy Bhd’s Tanjung Kidurong Power plant. The remaining capacity will allow the facility to supply future customers.
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Posted by Wata
October 17, 2022
Why not a DOSH report? Something to hide? “Unnamed FPSO”, really?
Dateline 2022-07-12, Energy Voice:
A commercial diver has died while performing an adapter mating test on the hull of a floating production storage and offloading (FPSO) vessel offshore Malaysia, according to a HSE report from national oil company Petronas.
Petronas said the accident was part of the underwater hull repair project for an unnamed FPSO. The work was being carried out in water depths of five to six metres. The accident, which involved a second diver, happened on 5 July 2022.
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Posted by Wata
October 3, 2022
So, Malaysia made the news for the dumping of plastics in our beautiful country. Now the world wants to dump their CO2 in Malaysia?
Dateline 2022-06-30, Argus:
Malaysian state-owned refiner Petronas and Japan’s Mitsui have signed an initial agreement to carry out conceptual and feasibility studies on a carbon capture and storage (CCS) value chain, including the evaluation of CO2 storage sites in Malaysia.
The firms will evaluate potential CO2 storage sites offshore peninsular Malaysia under this agreement, which was signed earlier this month. But no further details or timelines were provided. The companies also aim to leverage their collective expertise to evaluate the development of a CCS value chain, which includes capturing CO2 from various sectors, CO2 transportation, and technological developments in direct air capture.
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Posted by Wata
August 23, 2022
Waiting for IGL’s bid, I see.
Dateline 2022-06-18, Upstream:
Petronas’ Malaysia Petroleum Management (MPM) has delayed the deadline for bid submissions for ongoing licensing round Malaysia Bid Round 2022 (MBR 2022).
Without elaborating, MPM said the deadline has been pushed back from 30 June to 15 July 2022.
While no reason was given, such moves are typically due to prospective bidders requesting more time to review the available data and prepare their submissions, or potentially because of a lacklustre response to date as the original deadline looms.
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Posted by Wata
August 18, 2022
And when does this trickle down to us bottom feeders?
Dateline 2022-06-09, Bloomberg:
Malaysia’s national oil company Petroliam Nasional Bhd. plans to double its capital expenditure to 60 billion ringgit ($14 billion) this year from 2021, as business activities normalize following the lifting of Covid-era restrictions.
Many of its projects were delayed due to the pandemic and “there’s a lot of catch-up that’s happening this year,” Group Chief Financial Officer Liza Mustapha said in a conversation with MIDF Group’s Managing Director Charon Wardini Mokhzani on Thursday.
Petronas expects to post a “triple-digit” growth in revenue this year amid high oil prices, Liza said. Its first-quarter profit more than doubled to 23.4 billion ringgit from a year earlier on the back of a 50% jump in revenue.
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Posted by Wata
August 17, 2022
Don’t get me started on whether PETRONAS is taking advantage of its ‘too big to fail’ status and preferred status to overstep its bounds.
Dateline 2022-06-09, The Edge:
Petroliam Nasional Bhd (Petronas) chief financial officer (CFO) Liza Mustapha said on Thursday (June 9) that the Malaysian national oil company needs to have a target where a significant portion of the group’s revenue over the next five to six years comes from something that is not directly related to oil and gas (O&G) to safeguard Petronas from volatile crude oil prices which have risen past US$100 a barrel partly due to Russia-Ukraine war-driven supply concerns.
“Oil prices have gone up so much. About US$16 a barrel in the first quarter of last year, and now it was more than US$100 a barrel in the first quarter of this year. At Petronas, we have to stick to things we can control, because the price of oil is something we cannot control.
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Posted by Wata
July 27, 2022
Dateline 2022-05-26, The Edge:
OVER the years, there has been much debate on whether low-carbon solutions such as carbon capture technology are relevant in the light of renewable energy adoption and the energy transition.
The recent energy crunch, which saw oil and gas prices skyrocket amid high demand, and pushed some countries to even revisit coal for power generation, has proved that fossil fuel use cannot be avoided in the near term.
This means it is even more pertinent to explore technologies that allow carbon reduction and offset during the energy transition, says Petroliam Nasional Bhd (Petronas) vice-president and chief sustainability officer Charlotte Wolff-Bye.
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Posted by Wata
July 7, 2022
Wait, what? PETRONAS is proposing this? What about our fabrication yards?
Dateline 2022-05-14, FMT:
The government must look at the country’s financial performance before considering the proposal for Petroliam Nasional Bhd (Petronas) to take over Sapura Energy Bhd (Sapura Energy) to prevent the oil and gas company from going bankrupt.
Economic affairs minister Mustapa Mohamed said careful consideration must be taken as the oil and gas industry is a strategic industry and taking into account that Sapura Energy is the world’s second largest integrated oil and gas service provider.
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Leave a Comment » | Malaysian election, oil and gas | Tagged: Mustapa Mohamed, Petronas, Sapura | Permalink
Posted by Wata
June 17, 2022
Dateline 2022-05-12, Reuters:
A 300,000 barrel-per-day refinery-petrochemical complex in Malaysia run as a joint venture between Petronas and Saudi Aramco has restarted after a more than two-year closure, a source with knowledge of the matter said.
The complex in Pengerang, Johor, is resuming operations at a time when refining margins in Asia are at record levels, buoyed by a fuel demand recovery as more economies across Asia, except for China, ease COVID-19 restrictions.
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Posted by Wata
May 22, 2022
Dateline 2022-04-27, Zawya:
Malaysian state energy firm Petronas is seeing growing demand for gas as the world lifts COVID-19 restrictions and prioritises energy security due to Russia’s invasion of Ukraine, its chief of upstream operations told Reuters on Wednesday.
Petronas, the world’s fourth-biggest producer of liquefied natural gas (LNG), has seen high demand from Europe, Japan and South Korea since last year, said Adif Zulkifli.
“We are producing the maximum that we can now. There’s a lot of requests for more cargoes in Bintulu,” said Adif, referring to Petronas’ massive LNG complex in the eastern state of Sarawak.
“To increase production is not as easy,” because of under-investment in recent years, he said.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 