S. Sudan expects Petronas and CNPC oil to leave Sudan

July 21, 2013

Dateline 2013-06-28, The Star:

South Sudan expects a first oil shipment of 1 million barrels to sail from Sudan’s Port Sudan terminal on Saturday, despite a threat from Khartoum to halt cross-border flows, its oil minister said on Thursday.

A trading source told Reuters the first ships had been already loaded in Port Sudan. That oil will likely come fromChina National Petroleum Corp, which runs the oilfields with India’s ONCG Videsh and Malaysia’s Petronas in South Sudan.

Sudan notified its landlocked neighbour to the south two weeks ago it would close the two export pipelines to Port Sudan within two months unless Juba gave up its support of rebels operating across the shared border.

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STOP EVADING audits & disclosure on Petronas, ‘Transparency Minister’ Paul Low ticked off

July 9, 2013

Dateline 2013-06-10, Malaysian Chronicles:

The government and Petronas’ responses to our call for audit of Petronas’ businesses and tendering processes in Malaysia have been evasive at best and pathetic at worst. Evasive because they tried to deemphasize the real reason of our call for the audit of by putting blames on constraints in disclosing information about their international ventures. Pathetic because the way they responded gave an impression that it was not well-thought of. It has failed to give any good excuse why an audit is not needed; it has also failed to convince that Petronas upholds high level of integrity and transparency.

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Petronas blames RAPID delay on Johor

June 29, 2013

Now, if the old Sultan of Johor was around…

Dateline 2013-06-05:

The RM60 billion Refinery and Petrochemical Integrated Development (RAPID) project will not be completed on time due to delays by the Johor government, state oil and gas company PETRONAS said today.

The mega project was previously slated to start operations in 2016, but PETRONAS announced today that the date has been pushed to early 2017.

“There has been some delay to state government, which includes housing … There have been delays in moving the Muslim cemeteries,” said PETRONAS president and group CEO Tan Sri Datuk Shamsul Azhar Abbas at a media briefing here.

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Ensure oil money put into good use, Putrajaya told

June 28, 2013

Dateline 2013-06-07, Malaysian Insider:

DAP assemblyman Yeo Bee Yin called for a number of legislative reform today to ensure greater transparency and accountability in managing Malaysia’s oil wealth.

This comes as Revenue Watch Institute’s (RWI) report on government disclosure in oil, gas and minerals management in 58 resource-rich countries released in April saw Malaysia scoring three per cent lower than in 2010, performing poorly in all three criteria touching on matter of accountability like reporting practices and safeguards and quality control.

“It is time for Malaysia to move to greater transparency and accountability in governing the wealth of oil lest we fall into the category ‘curse of oil’ or ‘Dutch Disease’,” said Yeo in a statement here, referring to negative consequences arising from large increases in a country’s income.

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Petronas to accelerate capex

June 26, 2013

Dateline 2013-06-07, Sun Daily:

Petroliam Nasional Bhd (Petronas) will likely play catch up on capital expenditure (capex) over the next three years with focus on developing Malaysian oilfields as it remains committed to increasing production.

“(Petronas’) capex spending will progressively pick up over the next three years amid delays in executing the Refinery and Petrochemical Integrated Development (Rapid),” Maybank Investment Bhd (Maybank IB) said in a research note yesterday.

Petronas had said that the final investment decision (FID) on its RM60 billion Rapid project is expected by March 2014, which in effect pushes back the completion date for the project’s first phase by a year to 2017.

It noted Petronas had only subscribed 29% of the total RM300 billion capex it had put aside for a five year period since 2011.

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PETRONAS insists has been transparent about overseas operations

June 25, 2013

Dateline 2013-06-05, Malaysian Insider:

PETRONAS insisted today that it has kept to international standards in disclosing its overseas operations, amid calls for an audit by opposition leaders last week.

Malaysia’s ranking in a revenue management transparency survey dropped to 34th spot this year from 22nd in 2010, which the minister in charge of integrity and corruption, Datuk Paul Low, had attributed to PETRONAS’ overseas agreements disclosures.

“I think we have disclosed a lot of information on all of our overseas projects,” executive vice president of finance Datuk George Ratilal told reporters here, disagreeing with Low.

“Talking of transparency and all that, this is one national oil company that I think have been very transparent in what they do.”

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PETRONAS Upbeat On Malaysia’s Oil And Gas Industry With Advent Of New Technologies

June 23, 2013

Dateline 2013-06-05 from Bernama:

PETRONAS is optimistic on Malaysia’s oil and gas industry with the emergence of new technologies that facilitate greater oil and gas field explorations.

Chairman Tan Sri Mohd Sidek Hassan said industry players in the region were investing billions of ringgit to develop new technologies.

“There are more deepwater reserves discoveries (of late) as new technologies have aided previously uneconomical reserves to be revisited,” he told reporters at the opening of The 14th Asian Oil, Gas and Petrochemical Engineering Exhibition (OGA 2013) here today.

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THE HOLE IN PETRONAS: Slide in index shows BN ineffective in governing our resources

June 21, 2013

Dateline 2013-05-30, Malaysian Chronicle:

Malaysia fares worse than Kazakhstan, Azerbaijan and Iraq in the latest Resource Governance Index published by Revenue Watch Institute.

Malaysia ranks 34th out of 58 countries with a score of 46 out of 100 in Resource Governance Index (RGI) published on 8 May 2013 by Revenue Watch Institute (RWI), a non-profit organization that promotes effective, transparent and accountable management of natural resources. Malaysia is categorized as ‘weak’ among the four standards of governance – satisfactory, partial, weak and failing while our neighboring countries Indonesia and Philippine are categorized as partial with better rank of 14th and 23rd respectively. We also tail behind 8 African countries – Ghana (15th), Liberia (16th), Zambia (17th), Morocco (25th), Tanzania (27th), Botswana (30th), Gabon (32nd) and Guinea (33rd) as well as countries like Indonesia Kazakhstan (19th), Venezuela (20th), Azerbajian (28th) and Iraq (29th).

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CRUCIAL to audit Petronas after M’sia falls 12 spots in transparency rankings – Dr Dzu

June 19, 2013

Dateline 2013-05-29:

PAS has called on Putrajaya to conduct an audit on Petronas after a survey showed Malaysia’s ranking in revenue management transparency dropping to 34th spot from 22nd in 2010, far below countries like Timor Leste and the Philippines which were ranked 13th and 23rd respectively.

The 2013 Revenue Watch Institute and Transparency International Report on government disclosure in oil, gas and minerals management in 58 resource rich countries released in April saw Malaysia scoring three per cent lower than

in 2010, performing poorly in all three criteria touching on matter of accountability like reporting practices and safeguards and quality control.

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IEM Shout Out – Technical Visit To Gas Malaysia Berhad

June 18, 2013

This is a shout out for the IEM. My Technical Division will be visiting Gas Malaysia Berhad, No.5 Jalan Serendah 26/17, Shah Alam, Selangor on Tuesday 25th June, 2013.

Gas Malaysia is a natural gas distribution company in Malaysia. The company headquarters is located in Shah Alam. It has three regional offices, located in Prai, Gebeng and Pasir Gudang, and seven branch offices located throughout Peninsular Malaysia.

The company was incorporated on 16 May 1992 to construct and operate the natural gas distribution system within Peninsular Malaysia. In December 2000, Gas Malaysia expanded its business to include the reticulated liquefied petroleum gas.
As of July 2005, the company had 452 industrial customers, more than 600 commercial customers and over 3,000 residential customers.As of February 2011, Gas Malaysia had 33,707 residential and commercial customers as well as 691 industrial customers. In 2010, total gas sold by Gas Malaysia was 117.8 million British thermal unit throughout Peninsular Malaysia. As of February 2011, its network of gas pipelines covered a total of 1,726.6 kilometers (1,072.9 mi)

Register for this event here. Download the brochure here.

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