PETRONAS Gas sees brighter prospects from LNG regasification

October 6, 2013

From the Borneo Post, 2013-09-24:

Petronas Gas Bhd’s (Petronas Gas) prospects have been viewed as bright on the back of the commencement of its liquified natural gas (LNG) regasification terminal business in Melaka, Malaysia’s first LNG regasification terminal.

In addition, the group received a leg-up in its growth as the one-off investment tax allowance for its LNG regasification terminal business had more than doubled the group’s 2Q net profit.

Analyst Aaron Tan from the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) in a recent note, said stripping out its one-off tax allowance boost, Petronas Gas’ first half 2013 (1H13) grew at a modest 3.1 per cent year-on-year (y-o-y) while its core earnings shrank 9.9 per cent y-o-y to RM713.8 million.

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Is the Petronas gravy train a slippery slope?

October 4, 2013

From Seatrade Global, dateline 2013-08-02:

There is no doubt that Malaysia’s national oil company (NOC) Petroliam Nasional (Petronas) is a behemoth in the country’s oil and gas (O&G) industry. But that the initial public offering of a company can be derailed by the suspension of a licence from it just illustrates the size of its influence.

Just over the last week, news broke that Perunding Ranhill Worley Sdn Bhd (PRW), an affiliate of Ranhill Energy has had its Petronas licence suspended for both upstream and downstream projects. Ranhill was on the verge of a MYR753m ($232m) listing on the Malaysian bourse and was to have made its debut on 31 July before being forced to pull the plug at the last minute.

…

 

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Marketing Rounds – PETRONAS Companies’ Listing

September 25, 2013

In the lobby of Tower 1, KLCC is a listing of companies under the PETRONAS group.

PETRONAS Company Listing

 

You can glean a lot from this list:

  1. Can you spell ‘Vestigo’?
  2. There are other regas terminals?
  3. OGP is still around?
  4. Mutual Aid Group sounds sooo UN.

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Malaysian oil services firms tumble after Petronas project delay

September 24, 2013

Dateline 2013-07-31, Reuters:

Investors sold off shares in Malaysian oil and gas services firms after Reuters reported state-owned Petronas will start a planned $19 billion petrochemicals complex in 2018, signalling a delay in awarding work contracts for the massive project.

Malaysia’s top ten oil and gas services firms by market capitalisation have been popular with investors this year, soaring an average 55 percent so far, well ahead of the local bourse’s 5.2 percent gain.

News of a further delay to the refinery and special chemicals project took some wind out of the sector, which has been expanding rapidly to capture regional deepwater exploration and production jobs and benefit from Petronas’ $93 billion capital spending in 2011-2015.

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Ranhill Withdraws Plan to List on Bursa Malaysia

September 17, 2013

Ah, Ranhill, what shall we do with thee? Dateline 2013-07-29, Rigzone:

Ranhill Energy and Resources Bhd announced that it has withdrawn an initial public offering (IPO) to raise $236 million (MYR 753 million) on Malaysia’s stock exchange Bursa Malaysia.

This follows the disclosure last week that Malaysia’s national oil and gas firm Petroliam Nasional Bhd (Petronas) has suspended an affiliate’s license following a review of a construction project. The affiliate Perunding Ranhill Worley Sdn Bhd (PRW) cannot bid for any projects from Petronas without the license.

…

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Ranhill IPO Probed by Regulator as Malaysia Listing Deferred

September 15, 2013

Probe sounds so obscene… Dateline 2013-07-25, The Star.

Malaysia’s Securities Commission is reviewing Ranhill Energy and Resources Bhd.’s 753 million ringgit ($235 million) initial public offering and investors who subscribed may be offered their money back.

The regulator ordered the Kuala Lumpur-based energy and water group and its adviser Maybank Investment Bank Bhd. to postpone the listing slated for next week after an affiliate got a suspension notice from state-owned Petroliam Nasional Bhd. Proceeds from the share sale are being safeguarded by two banks and the Malaysian Issuing House Sdn., Ranhill Energy said in a statement yesterday.

…

 

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Petronas takes search for chief risk officer to S’pore

September 11, 2013

Dateline 2013-07-24: No article available.

WIll the CRO be on the take? This article says they are going to Singapore to look for talent. Sigh… I guess there’s no talent to be had in Malaysia. You can follow the LinkedIn advert here.

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Ranhill Energy IPO ‘back on track’

September 10, 2013

Dateline 2013-07-26, Malaysia Chronicle:

Ranhill Energy and Resources Bhd’s RM753 million initial public offering (IPO) seems to be back on track after Petroliam Nasional Bhd (Petronas) lifted a freeze on a licence owned by an affliate company.

It is understood that Ranhill will meet with key Securities Commission (SC) officials early next week to discuss if the IPO can proceed as originally scheduled.

The stock was due to debut on Bursa Malaysia’s Main Market on July 31.

“The SC will make a decision on whether to allow Ranhill to be listed next Wednesday, or have them reschedule the IPO to a later date,” sources told Business Times.

…

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Malaysian Oil, Gas Service Firms Focus Overseas

September 8, 2013

Oh, maaan, just when I was going for the 1SWAC program…

Dateline 2013-07-25, Rigzone:

While Malaysia’s oil and gas services firms venturing overseas in search of business opportunities is nothing new, these operations are finally making significant contributions to the revenue than before – especially for the larger firms. The success of the larger companies in the foreign ventures has encouraged Malaysia’s small and medium sized oil and gas firms to adopt a similar approach in boosting revenue.

Strong Government Support

Oil and gas has historically played a significant role in Malaysia’s economy. The sector has been dominated by national oil and gas company Petroliam Nasional Berhad (Petronas), which was established as a result of the 1974 Petroleum Development Act. It gave Petronas responsibility for all petroleum resources in the country, including exclusive ownership rights to all domestic oil and gas exploration and production projects.

…

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Books – Young Turks, Tuah Jebat di PETRONAS, Datuk Ismail Hashim

September 7, 2013

You ask, I find.

I have copies of the following books written by Datuk Ismail Hashim, formerly of PETRONAS.

Note: The Young Turks had been in storage for a while. The hard cover and spine are slightly damaged. Please note that these are not 2nd hand books, just previously unloved ones. Give them a good home.

  1. The Young Turks of PETRONAS (hardcover) – RM90 / USD 30 (can only be bought together with another book). Sold out! Keep an eye out for restock (or after our dumpster diving activities)
  2. Tuah Jebat di PETRONAS (hardcover) – RM90 / USD30
  3. The Will to Compete (hardcover) – RM90 / USD30
  4. Pantang di Cabar (hardcover) – RM90 / USD 30

 

Young Turks is the author’s view of the establishment of PETRONAS, whereas The Will is the author’s reminiscing of the establishment of PETRONAS Dagangan.

The books would be of interest to:

  1. Persons interested in the establishment of PETRONAS.
  2. Persons interested in the establishment of local companies.
  3. Persons interested in the history of oil & gas in Malaysia.

Cost includes local postage, via Poslaju. Overseas, contact me for details.

Payment can be made to me:

  1. Maybank 114357143086, Razmahwata bin Mohamad Razalli
  2. PayPal, add another RM5 per book (PayPal transaction fees)

Once payment, is made, send me a copy of the transaction report, together with your name, mailing address, phone number (PosLaju will need it if they can’t find your address), and email. Since I’m not doing this full-time, I’ll fulfill your purchases within one week.

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