Petronas claims RM2.8 billion spent on student scholarships since 1975

August 1, 2014

Dateline 2014-06-08, The Malaysian Insider:

Petronas has spent RM2.8 billion on 21,000 students under its Petronas Education Sponsorship Programme (PESP) since 1975.

Its human resource management senior vice-president, Raiha Azni Abdul Rahman said since Petronas was established in 1974, the programe had been Petronas’s main effort in contributing to the development of sustainable human resource in the country.

Speaking at the PESP scholarship-presentation ceremony at Universiti Teknologi Petronas (UTP) in Seri Iskandar today, Raiha Azni said Petronas planned to make Malaysia the regional hub for education and learning in oil and gas.

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Bigger role for natural gas, says Petronas VP

July 19, 2014

Considering the price of natural gas used to generate electricity will based on the market price by January 2016, then yeah.

Dateline 2014-05-27, Daily Express:

Natural gas will play a central role in meeting the world’s increasing energy demand in the coming decades, said Mohamad Johari Dasri, Vice President, Production Malaysia, Petronas Carigali Sdn Bhd.

He said one possibility of trading natural gas is in the form of liquefied natural gas (LNG) which is currently representing almost 30 per cent of the imported natural gas worldwide.

In his keynote address titled “The Oil and Gas Industry in the Next Five Years”, he said the global energy map is changing, with potentially far-reaching consequences for energy markets and trade.

It is being redrawn by the resurgence in oil and gas production in the United States and could be further reshaped by a retreat from nuclear power in some countries, continued rapid growth in the use of wind and solar technologies and by the global spread of unconventional gas production, he said.

He said taking all new developments and policies into account, global demand has surged nearly 30 per cent to 88 million b/d (all liquids) since 1995 and expected to expand by around 12 per cent and to make up around 30 per cent of the world energy mix by 2020, according to EIA reference scenario.

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Petronas posts RM18.8b Q1 profit

July 9, 2014

Dateline 2014-05-15, Malaysia Chronicle:

Revenue surges to RM84 billion due to higher production, trading and sales volume

NATIONAL oil company Petroliam Nasional Bhd (Petronas) posted a net profit of RM18.8 billion for the first quarter ended March 31 2014, down by eight per cent compared with the corresponding quarter last year, despite revenue gain.

It attributed the fall in earnings to impairments for its operations in Egypt as well as higher operational costs.

Its pre-tax profit was slightly lower at RM27.2 billion from RM28.8 billion in the same quarter last year.

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Sarawak can go it alone – Dixon Fong

June 27, 2014

Dateline 2014-05-01, The Malaysian:

I read Brewin Edward Emprang’s article and found it mind-blowing. The author might have skipped some fundamentals while expressing his views. I am a Sarawakian and thus, I hope I am not wasting your time here.

The author mentioned that Petronas does not have the equipment and expertise needed for oil exploration and excavation.

I beg to defer on this statement. Petronas, one of the Fortune 500 companies, has the talents required to be profitable on an annual basis.

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Sabah oil doesn’t need another ‘broker’

June 22, 2014

And we see M3Nergy is in the news

Dateline 2014-05-02, Free Malaysia Today:

In the 1980’s the Sabah Energy Corporation (SEC) was established to develop oil and gas projects in Labuan.  Asian Supply Base Sdn Bhd is one of its subsidiaries.

The SEC’s responsibility was to develop the integrated Sabah Gas Utilisation Project in Labuan whereby excess gases piped in from offshore fields are used to make hot briquette iron and methanol.

Excess heat was used for power generation.

But SEC sold off  the integrated gas projects. SEC is now responsible for providing gas for industrial use in the Kota Kinabalu Industrial Precinct (KKIP) but this however is limited to only 2 million cubic feet of gas sales daily.

In the 1990s the Sabah Government established Petrosab, a subsidiary of Innoprise, the business arm of Yayasan Sabah.

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‘No over-reliance on Petronas for contract handouts”

June 8, 2014

I want over reliance. Which foo’ is talking? Dateline 2014-04-18, Borneo Post.

Analysts observed that there is no over-reliance by local oil and gas (O&G) firms on national O&G corp Petroliam Nasional Bhd (Petronas) for contract handouts.

To note, contract flows for Bursa Malaysia-listed oil and gas (O&G) service providers remains stable this year at RM13 billion, which is 19 per cent higher compared with the Jan-April period in 2013, says analyst Aaron Tan of the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research).

“We note that only a relatively small portion (6.2 per cent) of jobs awarded this year had emanated from Petronas, with majority coming from international O&G firms.

“This proves that there is no over-reliance of local O&G firms on Petronas for contract handouts. Main beneficiaries in March to April 2014 were Bumi Armada Bhd (Bumi Armada), SapuraKencana Petroleum Bhd (SapuraKencana), UMW Oil & Gas Corporation Bhd, Uzma Bhd, Perdana Petroleum Bhd, Handal Resources Bhd and Barakah Offshore Petroleum Bhd.

“In light of this, companies’ orderbooks have grown substantially.”

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JCorp to make oil and gas core business

June 7, 2014

PetroJ? JetPetrol? JCP? Can you get more MRSM Muar alumni into this deal?

Dateline 2014-04-18, Malaysia Chronicle:

Johor Corporation (JCorp), which expects to list its oil and gas unit E.A. Technique (M) Bhd by the third quarter of this year, expects to make oil and gas its core business by 2017, according to its president and CEO Datuk Kamaruzzaman Abu Kassim (pix).

“We have to build our foundation first, hopefully by 2016 or 2017, it (oil and gas business) will become our core business,” he told a press conference here yesterday in conjunction with the launch of its 2013 annual report.

“Now we’re providing liquid jetty services and developing for marine support activities at our Tanjung Langsat port and industrial complex, which could complement the Pengerang Terminal project.

“As long as Petronas continues with its investment, the state has a role to make sure the development of the area will be according to the plan,” Kamaruzzaman added.

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Maximising O&G output

May 29, 2014

Dateline 2014-04-14, NST:

Petronas looks to deepwater projects, risk service contracts and unconventional gas sources

PETROLIAM Nasional Bhd (Petronas) is focusing on deepwater projects, risk service contracts (RSC) and unconventional gas sources internationally to increase energy supplies and earnings.

The national oil company believes that there is still upside potential in every aspect of the oil and gas industry in Malaysia and overseas.

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Petronas splits exploration, production unit to enhance ownership, accountability

May 22, 2014

Hey, as long as my slice of the pie is bigger, slice and dice as much as you like.

Dateline 2014-04-09, The Star:

Petroliam Nasional Bhd (Petronas) is splitting its exploration and production (E&P) division into domestic and international segments to make the businesses more focused and accountable, sources said, adding that the oil giant was benchmarking this move against what Shell, ExxonMobil and Total had done recently.

Previously, Petronas’ E&P unit had not clearly demarcated its international and domestic operations.

The move is said to be part of a plan by Petronas to concentrate more on its domestic and international roles that require different skill sets, considering that it competes internationally with oil giants, whereas locally, it is the owner of the hydrocarbon deposits.

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Petronas’s floating LNG facility to be completed by late 2015

May 20, 2014

Dateline 2014-04-08, The Sun:

Petroliam Nasional Bhd’s (Petronas) floating liquefied natural gas (PFLNG 1) facility – the first in the world – being constructed at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea, is scheduled to be completed in the fourth quarter of 2015.

In a press statement yesterday, Petronas said PFLNG1, also dubbed PFLNG Satu, will be moored in Malaysia’s Kanowit gas field, 180km offshore Sarawak, set to produce 1.2 million tonnes of LNG every year.

“It will play a significant role in Petronas’s efforts to unlock the gas reserves in Malaysia’s remote and stranded fields currently deemed uneconomical to develop and evacuate and will help meet the growing demand for gas,” it said.

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