Petronas bags six IChemE Malaysia Awards

December 6, 2016

Dateline 2016-10-27, Daily Express:

Petroliam Nasional Berhad (Petronas) was the big winner at the Institution of Chemical Engineers (IChemE) Malaysia Awards 2016, bagging six out of the 16 awards under eight categories presented at Le Meridien Hotel Kuala Lumpur on Monday.

Twelve organisations/institutions and four individuals received IChemE awards at the ceremony, which was graced by the Royal Patron of IChemE Malaysia, Duli Yang Maha Mulia Raja Permaisuri Perak Darul Ridzuan Tuanku Zara Salim.

Petronas Chemicals Group Berhad (PCG)’s Vice President, Managing Director/Chief Executive Officer Datuk Sazali Hamzah, who is also a member of IChemE Malaysia’s Board of Directors said, “PCG received four out of the six awards presented to PETRONAS. We are honoured by this recognition for our long-standing commitment and efforts in upholding world-class standards in our processes. Being part of the global awards programme is indeed an impetus for us to continuously strive for excellence for the benefit of the chemical engineering fraternity and chemical industry at large.”

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Petronas’ oil rig-making unit stays in the red for fourth straight quarter

December 4, 2016

Dateline 2016-10-28, Nikkei Asian Review:

Malaysia Marine and Heavy Engineering, an oil rig builder controlled by state oil and gas company Petronas, suffered its fourth consecutive quarter of losses due to fewer and lower-valued projects.

Net loss for the three months ended September 30 totaled 4.5 million ringgit ($1.1 million) compared to net profit of 17.0 million ringgit a year earlier, the company said. Quarterly revenue fell nearly 24% year-on-year to 333.5 million ringgit from 436.3 million ringgit.

“The continued downturn of the oil and gas industry is expected to impact the group’s business with significant offshore project cancellations and deferments,” the company said. “This is expected to result in further decline in asset utilization, currently being assessed for impairment which will significantly affect the current year financial result.”
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Malaysia’s Petronas to pay 13 bln ringgit government dividend in 2017

December 1, 2016

Dateline 2016-10-21, Yahoo! (yodel it):

Malaysian state oil company Petroliam Nasional Berhad will pay the government a dividend of 13 billion ringgit ($3.11 billion) next year, lower than 2016 levels, the country’s second finance minister Johari Abdul Ghani said on Friday.

Petronas, as the company is known, has said it will pay 16 billion ringgit to the government this year.

Addressing reporters after tabling the country’s 2017 budget, Johari also the budget was based on an oil price assumption of $45 a barrel.

 

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Shell said to weigh sale of over $1b Malaysia LNG stake

November 27, 2016

Hibiscus or CLIQ in the bidding?

Dateline 2016-10-14, The Star:

Royal Dutch Shell Plc is considering a sale of its stake in a Malaysian liquefied natural gas export plant, which could fetch more than $1 billion, people familiar with the matter said.

The Anglo-Dutch energy giant is gauging interest in its 15 percent stake in MLNG Tiga Sdn., which owns an LNG terminal in Sarawak on the island of Borneo, according to the people.

Malaysia’s state-owned Petroliam Nasional Bhd., which holds 60 percent of MLNG Tiga, has pre-emptive rights on the stake, one of the people said, asking not to be identified as the process is private.

The sale may draw interest from private-equity firms, the people said. MLNG Tiga, set up in 1995, is the third plant to be built in the Petronas LNG complex in Bintulu, Sarawak, according to its website.

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Petronas shares knowledge on oil and gas industry

November 24, 2016

Am I not a blogger? Why weren’t we, the small guys, invited? Did you have to have a Sarawak work pass to attend?

Dateline 2016-10-12, Borneo Post:

Petroliam Nasional Berhad (Petronas) hosted a one-day workshop with the media for knowledge sharing on the oil and gas industry and provide the media with a better understanding of the dynamics of the industry.

The workshop entitled ‘Oil and Gas for Media’ was held at Petronas Sarawak regional office in Wisma Naim here yesterday.

Among issues discussed during the workshop were Petronas’ business and key activities, technology and engineering, exploration and production, social and environment concerns, revenue management, corporate social investments and other emerging issues in the oil and gas industry.

Its media and communication manager Johannes Ridu said  the objective of the workshop was aimed to enhance the participants’ awareness on the factors and developments that impacted Malaysia’s oil and gas industry and Petronas’ role and direction in shaping it.

“It is our hope that through this workshop, the media will have a better understanding of the industry especially in Sarawak as well as Petronas’ business and its broad strategies,” he said.

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Syed Azman: T’ganu should emulate S’wak

November 17, 2016

Must be time to prep for the General Election.

Dateline 2016-09-29, FMT:

A Terengganu lawmaker, inspired by Sarawak’s push for a larger share of oil and gas royalties, is embarking on a signature drive to get his state a better deal for its resources.

Speaking to FMT, Batu Burok Assemblyman Syed Azman Ahmad said Terengganu needed to emulate Sarawak and beckon the Federal Government and Petronas to the discussion table.

Sarawak’s push for greater state rights, especially those pertaining to oil and gas, has been a cornerstone of Adenan Satem’s tenure as Chief Minister of the state.

Syed Azman said Terengganu had been shortchanged since 2000, when the five per cent oil royalty it used to get was withdrawn and replaced with the so-called “wang ehsan” provided by Putrajaya.

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Bad days for national oil companies to continue, Fitch says

November 5, 2016

Dateline 2016-09-21, Zee Biz:

The National Oil Companies (NOCs) in South and South-East Asia unlikely to return to positive free cash generation in the next two years, said a Fitch Ratings report.

Most of the NOCs reported poor financial result for the first half or first quarter ended on June 30 due to a fall in average oil and gas prices from a year ago. Revenue and EBITDA declined over this period for Malaysia’s Petroliam Nasional Berhad (PETRONAS); Thailand’s PTT Public Company Limited; and India’s Oil and Natural Gas Corporation Limited (ONGC) and Oil India Limited.

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Petronas’ oil rig-making unit stays in the red for fourth straight quarter

November 4, 2016

Dateline 2016-10-28, Nikkei Asian Review:

Malaysia Marine and Heavy Engineering, an oil rig builder controlled by state oil and gas company Petronas, suffered its fourth consecutive quarter of losses due to fewer and lower-valued projects.

Net loss for the three months ended September 30 totaled 4.5 million ringgit ($1.1 million) compared to net profit of 17.0 million ringgit a year earlier, the company said. Quarterly revenue fell nearly 24% year-on-year to 333.5 million ringgit from 436.3 million ringgit.

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Malaysian Energy Firm Petronas Plans Several Hundred More Job Cuts

November 3, 2016

Out of date, but be scared.

Dateline 2016-09-20, Wall Street Journal:

Malaysia’s national oil company is looking to cut several hundred more jobs as it continues to grapple with weak oil prices, according to two people familiar with the matter.

Petroliam Nasional Bhd., known as Petronas, is planning the job cuts at its publicly listed operations, according to the people.

The company, which provides most of the government’s oil and gas revenue, said in March that it was cutting 1,000 jobs. This came after Petronas said it would slash spending by some $11.4 billion over the next four years, following similar moves by major global oil companies including Royal Dutch Shell PLC facing the crude-price downturn.

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Malaysian Energy Firm Petronas Plans Several Hundred More Job Cuts

October 29, 2016

Dateline 2016-09-20, WSJ:

Malaysia’s national oil company is looking to cut several hundred more jobs as it continues to grapple with weak oil prices, according to two people familiar with the matter.

Petroliam Nasional Bhd., known as Petronas, is planning the job cuts at its publicly listed operations, according to the people.

The company, which provides most of the government’s oil and gas revenue, said in March that it was cutting 1,000 jobs. This came after Petronas said it would slash spending by some $11.4 billion over the next four years, following similar moves by major global oil companies including Royal Dutch Shell PLC facing the crude-price downturn.

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