Highlight: Pre-IPO blow for Ranhill

September 6, 2013

Dateline 2013-07-24, The Edge:

Petroliam Nasional Bhd (Petronas) has suspended its licence to Perunding Ranhill Worley Sdn Bhd (PRW), an affiliate of soon to be listed Ranhill Energy and Resources Bhd.

The suspension of PRW, which provides Ranhill Energy with a steady stream of oil and gas (O&G) jobs in Malaysia, is believed to have been served on the company without advance notice.

Sources say the development is material and may impact the listing of Ranhill Energy scheduled for next Wednesday. Company officials could not be contacted to determine if the latest development would affect its listing next week.
According to sources, the indefinite suspension affects PRW’s operations in both upstream and downstream activities.
“With the suspension, RWP will not be allowed to use its Petronas licence or bid for any Petronas projects. Also, once [the company is] suspended any work in an ongoing tender will be assumed by the next qualified bidder,” a source said.

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Posted by Wata

Petronas to Make FID for Second FLNG Project in 2H

September 3, 2013

Dateline 2013-07-23:

Malaysia’s national oil and gas company Petroliam Nasional Bhd (Petronas) was expected to make a final investment decision (FID) on a floating liquefied natural gas (FLNG) project for the Rotan field in Block H, offshore Sabah, in the second half of the year.

“Once sanctioned, production from this second FLNG vessel is expected to commence in 2016,” said a company spokesman as reported by Malaysia’s Business Times Tuesday. “The FID will be taken during the second half of this year,” he added.

The project, now in the front-end engineering design (FEED) stage, is for a FLNG equipped to produce 1.5 million tons of LNG per annum. Petronas awarded FEED contracts to two consortia – one comprising MODEC, Inc., IHI Corporation, TOYO Engineering Corporation and CB&I, while the other comprises JGC Corp and Samsung Heavy Industries.

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Posted by Wata

Saturday Star 2013-08-31 – Job Opportunities

September 2, 2013

Selamat Hari Merdeka!

Buy my recommendations, or through my Amazon store. Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper.

  • I’m looking for a senior process engineer, 7+ years experience. Send your cv here. Also looking for process safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • PETRONAS wants to be ‘tapping human ingenuity for future growth.’ In Bintulu. Visit here.
  • JX Nippon Oil & Gas Exploration (Malaysia) Ltd is looking people. Send your cv here. Or snail mail to JX NIppon Oil & Gas Exploration (Deepwater Sabah) Limited (995348-T), Level 51, Menara 3, PETRONAS, Persiaran KLCC, Kuala Lumpur City Centre, 50088 Kuala Lumpur
  • Side note: My mechanic complains that there are not enough trained mechanics are being extruded from our schools. If you know of any idle ones, he’s looking for some. Ask them to contact Kong Ming Chai at +60122951023. On another note, has this shortfall hit the news? Can I get the contract for 1Repair?

Help me (and you) increase my cloud presence. Pleease use some form of cloud storage, so if you lose your laptop with those oh-so-important reports, be assured that (with Internet access) the files are still accessible. Use my referrals for Dropbox, MiMedia,  SpiderOak, MediaFire, Ubuntu One, Sugar Sync.

Break the Low Yat stranglehold! Support Newegg Malaysia, or check Amazon’s International Shipping. Yeah, baby!

Self Promotion this week. I have some copies of ‘the Young Turks of PETRONAS’ and ‘Tuah Jebat di PETRONAS’. The books are USD30 each, or USD55 for both. Send me payment via Paypal, with details. Get these while they are hot, It’s taken me months to find the last remaining stocks.

The IEM has a coffee table book out, Engineering Heritage of Malaysia (no, it is not Datuk Seri Samy Vellu’s bio). Visit here for details.

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Posted by Wata

Qatargas sells first LNG cargo to Malaysia

August 25, 2013

Semenanjung is now importing gas. So it begins…

Dateline 2013-07-22:

Qatargas Operating Company Limited (Qatargas) announced today that it has sold Qatar’s first ever cargo of Liquefied Natural Gas (LNG) to Malaysia.

The cargo was sold to Petronas LNG Ltd (Petronas) of Malaysia and was loaded yesterday on-board the LNG Vessel ‘Seri Begawan’ at Ras Laffan Port. The cargo will be delivered to Malaysia’s first LNG receiving terminal located in Melaka. The conventional sized cargo contains approximately 3.1 trillion Btu of LNG.

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PTPTN and the lack of Petronas specifics

August 17, 2013

Dateline 2013-04-20 (what?), the Sun

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This is certainly an interesting development, since it brings the discussion to a different level. Have Petronas funds been effectively used anyway, for all these years? How, indeed, is our government making use of the country’s oil and gas revenues? Are they being responsibly managed? What kind of governance and accountability are we assured in the process of managing such a tremendous amount of wealth, contributed by our natural resources?

Malaysia is classified as a resource-dependent nation, since about 40% of our national revenues comes from oil and gas. I have previously written in this column about the dangers of oil dependency and the need for better resource management (“The paradox of plenty”, Nov 25, 2011). In this piece, the focus will be on oversight of the oil and gas sector in Malaysia, and whether there is a sufficient institutional framework to support transparency and accountability of the funds involved.

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Posted by Wata

Petronas exec on trial for graft

August 15, 2013

Three comments: ‘once again’, small fry, and don’t senior managers earn this much in a week?

Dateline 2013-07-09:

 A senior manager with Petronas has once again been charged with graft. This time it involved accepting RM13,800 (S$5,500) in 2008.

Ishak Hashim, 47, was alleged to have accepted the bribes from two Erision Chem Sdn Bhd directors as incentives for supplying the company with liquified natural gas in 69 lorries.

Ishak claimed trial at a Sessions Court here to accepting RM200 for each lorry transporting gas from company directors Choo Ka Ckye and Abdul Khair Walli Mohamed at Lot 1485, Kampung Alor Janggus, Napoh in Jitra, between June 15, 2008 and noon on June 20, 2008.

He was alleged to have received the money through a third party account under the name of his friend Syed Mustafa Syed Abu Bakar.

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Malaysia’s LNG exports decline to lowest

August 10, 2013

Dateline 2013-07-28:

Malaysia’s liquefied natural gas exports fell to the lowest level in 10 months in May, according to data from the Statistics Department.

Petroliam Nasional Bhd, the state-owned oil and gas producer, shipped 1.89 million metric tonnes of the supercooled fuel, the data show. That’s down about 0.1 per cent from April and is the smallest volume since July last year.

Petronas, as the Kuala Lumpur-based company is known, was paid RM4.33 billion, or about US$13.71 per million British thermal units (Btu), for the exports. It received US$13.11 per million Btu in April.

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Posted by Wata

Third round RSCs still up for grabs

August 1, 2013

Dateline 2013-07-04, The Sun Daily:

The bidding process for the third licensing round to develop marginal oil and gas fields under the risk service contracts (RSC) is yet to be completed, Petroliam Nasional Bhd (Petronas) said.

The market is expecting Petronas-owned Vestigo Petroleum Sdn Bhd to speed things up and pave the way for more companies to join in the fray.

“No contract has yet been awarded in this licensing round as the bidding process is still ongoing,” the national oil company said in an email to SunBiz.

Interest in RSCs perked up yesterday after a relatively small player Handal Resources said it will partner MOE Australia Ltd to explore opportunities in development of marginal oil and gas fields – with an eye for RSC agreement with Petronas.

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Posted by Wata

Petronas Carigali sets up new subsidiary to focus on small, marginal fields

July 30, 2013

Dateline 2013-07-01, Platts:

Petronas Carigali, the upstream arm of Malaysia’s state-owned Petronas, has set up a subsidiary, Vestigo Petroleum, to focus on the development of small, marginal and mature fields in Malaysia and overseas, Petronas said Monday.

Vestigo aims to optimize production from clusters of small, marginal and mature fields through operational, technical and cost effective methods while its parent Petronas Carigali will continue to explore and develop larger and more technically complex fields, the company said in a statement.

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‘ILLEGAL’ DR M? Former PM’s status as Petronas advisor may violate Petroleum Act

July 25, 2013

He’ll do it “hiiiiiis waaaay”, you can bank on that.

Dateline 2013-07-28. Malaysian Chronicle:

The legality of former prime minister Dr Mahathir Mohamad’s post in national oil giant Petronas as its advisor has come under question.

Kuala Terengganu member of parliament Raja Kamarul Bahrin Shah cited the Petroleum Development Act 1974 which states that any individual who is not part of the present government is not qualified to hold the post.

“Under what provision is Dr Mahathir appointed as Petronas advisor, since Section 5 of the Act states that the advisory role is to be placed under a council and not any individual,” Raja Kamarul told Harakahdaily at the parliament lobby yesterday.

Section 5 of the Act states:

“1. There shall be established a Council to be known as the National Petroleum Advisory Council consisting of such persons including those from the relevant States as the Prime Minister may appoint.

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