November 30, 2012
Link bait.
Dateline 2012-11-12:
Tan Sri Shamsul Azhar Abas has hinted that he may not stay long at Petronas under its new succession policy after pushing through reforms to distance itself as the country’s piggy bank in the last two years he has been its CEO.
“I’ve identified my successor and I’m ready to leave any time. Even tomorrow.
“I don’t believe in self-preservation,” Shamsul told Financial Times (FT) in an interview published today.
Petronas’ chief executive and board serve at the pleasure of the prime minister who have over the years tapped into the state oil firm’s funds to build their dream projects and bail out their mistakes.
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3 Comments | 
Malaysia, Malaysian election, oil and gas | Tagged: Petronas, Shamsul Azhar Abbas | 
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Posted by Wata
November 21, 2012
Dateline 2012-11-02:
Kelantan is willing to settle its long-drawn oil royalty dispute out of court if Putrajaya expedites approval of the PAS state’s demand for RM800 million in annual royalties owed since 2005, state executive councillor Datuk Husam Musa has said.
Husam, who heads Kelantan’s Oil Royalty Action Committee, was weighing in on the government’s announcement on Tuesday promising a RM100 million payment to Pahang for untapped oil fields off the state coast.
“There is no more reason to refuse payment to Kelantan. I hope we can settle this out of court,” he told The Malaysian Insider earlier this week.
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Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: Kelantan, Petronas, royalty | Permalink
Posted by Wata
November 17, 2012
Note the “opposite the state of Pahang” jibe.
Dateline 2012-10-30:
Prime Minister Datuk Seri Najib Razak today announced that PETRONAS Carigali Sdn Bhd and Lundin Oil have jointly discovered additional oil reserves, under a production-sharing contract (PSC), at Block PM 307 of the Bertam oilfield.
He said the oil field, located 160 kilometres offshore Peninsula Malaysia, is opposite the state of Pahang at the depth of 76 metres.
PM 307 PSC is operated by Lundin Malaysia which holds a 75 per cent interest and Petronas holds the remaining equity.
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4 Comments | Malaysia, Malaysian election, oil and gas | Tagged: Bertam, Lundin, PCSB, Petronas | Permalink
Posted by Wata
November 10, 2012
Puhleez…
Dateline 2012-10-13:
Pakatan Rakyat’s pledge to give 20 percent oil royalty instead of the current 5 percent to oil producing states will not incur extra burden to national oil firm Petronas, said PKR strategic director Rafizi Ramli today.
He said according to the new deal, the coalition will use Petronas’s current contribution of RM70 billion every year to the Federal budget to make up for the additional 15 percent revenue, and not by altering any present tax structure imposed on the company.
Petronas yesterday criticised PR’s plan to increase royalty payment for oil producing states, saying it could jeopardise its business and profitability and tax payments due to lower income.
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Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: Petronas, PKR | Permalink
Posted by Wata
October 30, 2012
Dateline 2012-10-01:
Demands for increased royalty to be paid to oil-producing states will cause both a drop in tax collections and profits for government-owned firm Petronas, Umno lawmaker Khairy Jamaluddin said today.
“We understand demands from states such as Kelantan but we have to think of the financial implications when we talk about increasing royalty,” the Rembau MP said in Parliament.
The Barisan Nasional (BN) and Umno Youth chief said it was “not so easy” as the tax collection from such states will be affected.
He also said that increasing the oil royalty will cause a drop in Petronas’s returns.
Dividends from the state oil firm currently account for over 40 per cent of the federal government’s revenue.
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Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: Kelantan, Petronas, royalty | Permalink
Posted by Wata
October 28, 2012
Dateline 2012-10-03:
After years of dispute, the Kelantan government is one step closer to resolving the long-standing oil royalty issue after the Federal Court today finally allowed the PAS-led state to ask state oil firm Petronas crucial questions on points of law related to its demand for payment.
A five-man Bench led by Court of Appeal President Tan Sri Md Raus Shariff awarded leave to Kelantan this morning as neither Petronas nor the federal government objected to the application.
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Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: Kelantan, Petronas | Permalink
Posted by Wata
October 12, 2012
Why is this article in here? Because PETRONAS wants to have the first FLNG in the solar system?
Dateline 2012-09-20:
For more than a decade, the world’s biggest liquefied natural gas producers led by Royal Dutch Shell Plc (RDSA) plotted how to move their $170 billion industry onto barges at sea to tap remote fields. Now they’re finally doing it.
Shell will forge the hull of a floating LNG plant in South Korea by year-end that will be the world’s largest vessel, weighing six times the biggest aircraft carrier, a Nimitz-class warship. Some 5,000 workers will build the factory to produce LNG off Australia’s northwest coast in a $13 billion project that also will shield Shell from escalating costs it would have to pay at the country’s onshore plants
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Leave a Comment » | Malaysia, oil and gas | Tagged: FLNG, Petronas, PFLNG | Permalink
Posted by Wata
August 29, 2012
Those of you who are forced to work in the oil & gas industry will no doubt have heard of the PPGUA, PETRONAS Procedures and Guidelines for Upstream Activities. Well, from the picture below, I can see PETRONAS issuing cease and desist letters to a certain Indian restaurant soon.
BTW, do you call it “PeePeeGUA” or “PaPaGua”? or “PapaPapaGua”?
4 Comments | engineering, Malaysia, oil and gas | Tagged: Petronas, PPGUA | Permalink
Posted by Wata
August 19, 2012
We had a hand in this.
Dateline 2012-08-01:
Separate fire accidents–in three Petronas sites over the last few months, two of which involved casualties–are raising pressing concerns surrounding the safety procedures in Malaysia’s oil and gas industry (OGI).
The most recent Petronas-related incident involved an oil tanker which caught fire and exploded at the jetty of Petronas Chemicals Methanol Sdn Bhd on July 26, 2012. The facility is part of the Rancha-Rancha industrial zone, which is located on the island of Pulau Enoe, near Labuan.
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Leave a Comment » | Malaysia, oil and gas | Tagged: Petronas, Rigzone | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 