August 12, 2016
Go subscribe to the Motley Fool.
Dateline 2016-07-01, Motley Fool:
MISC Berhad (KLSE: 3816.KL), which is listed on Bursa Malaysia (Malaysia’s stock exchange), is currently one of the largest energy shipping companies in the world.
The company happens to be a listed subsidiary of PETRONAS, the national oil and gas conglomerate of Malaysia.
Here are three numbers you need to know about MISC.
Number 1: 33 billion
MISC has a market capitalization of RM33 billion (around S$11 billion) at the moment. That would make it over three times larger than Sembcorp Marine Ltd (SGX: S51), which is already one of the world’s largest oil rig builders.
MISC also generated revenue of RM10.9 billion (around S$3.7 billion) in 2015 and earned more than RM2.46 billion (S$0.82 billion) in profit. This equates to a net profit margin of 22.5% – not bad at all for a company that’s operating in a difficult environment of low oil prices.
…
Leave a Comment » | 
Malaysia, oil and gas | Tagged: MISC, Petronas | 
Permalink
Posted by Wata
August 7, 2016
Dateline 2016-06-27, NST:
PETROLIAM Nasional Bhd (Petronas) has achieved another milestone by receiving the tallest and heaviest propylene fractionator process column for the steam cracker facility within its Pengerang Integrated Complex (PIC) in Pengerang, Johor, on Saturday. The fractionator would complement the overall development of the PIC, poised for its refinery start-up by early 2019. It also established a new record as the tallest and heaviest process column to have landed on Malaysian shores. The column measures 121.3m — equivalent to a 36-storey building — and weighs 1,808.6 tonnes. “I am proud to announce that our propylene fractionator has been recognised by the Malaysia Book of Records as the tallest and heaviest process column in Malaysia,” said Petronas senior vice-president and Petronas Refinery and Petrochemical Corporation Sdn Bhd chief executive officer (CEO) Dr Colin Wong Hee Huing.
…
Leave a Comment » | Malaysia, oil and gas | Tagged: Colin Wong Hee Huing, Pengerang, Petronas | Permalink
Posted by Wata
August 6, 2016
Dateline 2016-06-27, Rigzone:
SapuraKencana Petroleum Berhad (SKPB) reported Monday that its upstream subsidiary SapuraKencana Energy Sarawak Inc. (SKE) has signed June 23 the SK310 Upstream Gas Sales Agreement for gas produced from the B15 field located offshore East Malaysia to national oil company Petroliam Nasional Berhad (PETRONAS).
Facilities for the B15 gas development comprise a central processing platform with a 22 mile (35 kilometer) gas evacuation pipeline to be tied into the existing infrastructure. The field, which was discovered in December 2010 and will deliver gas to the Malaysia Liquefied Natural Gas (MLNG) complex in Bintulu, Sarawak, is scheduled to commence production in the fourth quarter of 2017.
“I would like to thank PETRONAS and the SK310 JV (joint venture) partners for their efforts in getting the project to realization. The SK310 UGSA marks SKE’s first participation in a Gas Sales Agreement for East Malaysia,” Shahril Shamsuddin, president & Group CEO of SKPB, said in the press release.
…
Leave a Comment » | Malaysia, oil and gas | Tagged: B15, Petronas, SapuraKencana Petroleum | Permalink
Posted by Wata
July 30, 2016
Do you have to be Sarawakian to work for these alleged companies? If not, where do I get the queue number?
Dateline 2016-06-24, Malay Mail:
Sarawak Deputy Chief Minister Tan Sri James Masing is confident that companies within the Borneo state can take over oil-and-gas production from national oil firm Petronas.
Masing mooted Brooke Dockyard and Engineering Works Corporation as the lead agency, saying the Sarawak-based local firm has gained much experience over the years and is now capable of handling oil mining activities for the state, The Borneo Post reported today.
“With over 100 years of experience, Brooke Dockyard is not a kindergarten institution anymore as it is now a university when compared with the other industry players in the county. Other industry players in the country made it big because they got backup from the big guns,” James was quoted as saying.
“Sarawak owns the oil and gas but Petronas is the one currently using our platform created by Brooke Dockyard. As for now we have many marginal oil and gas reserves in Sarawak and since Petronas is not producing anything from these reserves, I hope to see oil and gas from these reserves produced by the state.”
…
Leave a Comment » | Malaysia, oil and gas | Tagged: Brooke Dockyard, James Masing, Petronas | Permalink
Posted by Wata
July 28, 2016
This is a shout out for the IEM. My technical division will be hosting a trip to PETRONAS Penapisan (Terengganu) Sdn Bhd. It will be on the 28th August, 2016. You will be anointed with 3 CPD / PDP hours. If you with to visit the site, come and register.
PETRONAS Penapisan (Terengganu) Sdn Bhd – PP(T)SB was incorporated in 1982 to meet a need to process and add value to the indigenous crude from offshore Terengganu, as well as to secure reliable, efficient, safe and cost effective supply of refined petroleum products to the PETRONAS Group of Companies. PP(T)SB has proven its capability in providing efficient, safe, reliable uninterrupted supply of petroleum products such as gasoline, LPG, diesel, jet fuel, naphtha and Low Sulphur Waxy Residue (LSWR) to its domestic customers and also exported to several overseas destinations.
Register here and get the flyer here.
1 Comment | Chemical, engineering | Tagged: Penapisan, Petronas, PPTSB | Permalink
Posted by Wata
July 14, 2016
This is a shout out for the IEM. My technical division will be hosting a trip to PETRONAS Penapisan (Terengganu) Sdn Bhd. It will be on the 25th August, 2016. You will be anointed with 3 CPD / PDP hours. If you with to visit the site, come and register.
PETRONAS Penapisan (Terengganu) Sdn Bhd – PP(T)SB was incorporated in 1982 to meet a need to process and add value to the indigenous crude from offshore Terengganu, as well as to secure reliable, efficient, safe and cost effective supply of refined petroleum products to the PETRONAS Group of Companies. PP(T)SB has proven its capability in providing efficient, safe, reliable uninterrupted supply of petroleum products such as gasoline, LPG, diesel, jet fuel, naphtha and Low Sulphur Waxy Residue (LSWR) to its domestic customers and also exported to several overseas destinations.
Register here and get the flyer here.
Leave a Comment » | Chemical, engineering | Tagged: CETD, IEM, Penapisan, Petronas, PPTSB | Permalink
Posted by Wata
July 8, 2016
Dateline 2016-06-10, Borneo Post:
There is an increasing number of Sarawakians being employed by Petronas in line with the company’s expansion of the upstream sector in the state.
Assistant Minister for Industrial Development (Investment and Promotion) Datuk Julaihi Narawi, said Petronas was commited to developing human capital and gave priority to the locals.
He told the State Legislative Assembly yesterday that the number of employees in the upstream sector in the state had increased by 10 per cent to 4,400 this year, compared to 4,000 in 2015.
From the 4,400 employess 71 per cent were Sarawakians, he said, adding that 313 were Sarawakians from the increased figure of 400 this year.
…
Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: Julaihi Narawi, Petronas, Sarawak | Permalink
Posted by Wata
July 3, 2016
Heck, there are more reminders, from other companies dying during this period.
Dateline 2016-06-06, The Edge:
This article first appeared in Corporate, The Edge Malaysia Weekly, on May 23 – 29, 2016.
PETROLIAM Nasional Bhd’s (Petronas) recent results announcement is an urgent reminder that the recent rebound in crude oil prices does not mean that the worse is over for Malaysia’s economy, which is trying to wean itself off a heavy dependence on oil-related revenues.
Recall that oil and gas saw a ghastly start to the year. Crude oil prices ended last year at about US$41 per barrel and quickly tumbled to below the US$30 per barrel level in mid-January, a level not seen in 12 years.
It sent shockwaves around the globe. Everyone in oil and gas reeled while oil-dependent countries scrambled to deal with reduced revenues.
…
Leave a Comment » | Malaysia, Malaysian election | Tagged: Petronas | Permalink
Posted by Wata
June 14, 2016
More grist for the rumor mill. Yes, those Russian are lying. And yes, hold your PETRONAS stocks.
Dateline 2016-05-25, UPI:
Malaysian energy company Petronas said it was not the target of a sale of its assets or any of its stakes to counterparts in the Russian energy sector.
The Malaysian company referred to Russian reports suggesting it may dispose of some of its interests.
“We wish to clarify that Petronas has not been and is currently not in discussions with any Russian party for the abovementioned purpose,” the company said in a statement.
Last week, Russian Energy Minister Alexander Novak said markets in the Asia-Pacific may see an increase in exports of natural resources from Russia. He said talks between Russian energy company Zarubezhneft and Petronas were part of that effort.
…
Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: Petronas, Zarubezhneft | Permalink
Posted by Wata
June 11, 2016
Dateline 2016-05-18, Reuters:
Malaysia’s Petroliam Nasional Bhd warned that lower oil prices will continue to hurt its earnings on Wednesday after its first quarter profit fell by 60 percent.
The state-owned company has been hit hard by a tumble in oil prices that has forced it to slash costs and reduce dividends to the government. It detailed plans this year to cut spending by up to 50 billion ringgit ($12 billion) over the next four years.
“Concerns on moderate demand outlook and persistent oversupply will continue to pressure crude oil prices,” Petronas said. “Petronas expects performance to be affected by the volatility of oil prices and foreign exchange rate.”
…
Leave a Comment » | Malaysia, oil and gas | Tagged: Petronas | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 