Petronas upstream investment approvals to accelerate

October 27, 2021

Dateline 2021-10-18, Energy Voice:

Malaysian national energy company Petronas is expected to accelerate final investment decisions (FIDs) for upstream oil and gas projects between 2022 and 2023 following a sharp decline over 2020-21, according to the latest research from Rystad Energy.

The number of final investment decisions (FIDs) made by Petronas in 2020 dropped by 70% over the previous year and is set to be down by 85% this year from the 2019 level, Rystad said in its latest report.

“Petronas has so far this year sanctioned four key projects in Malaysia and Indonesia: the Jerun, Timi and Bakau non-associated gas developments offshore Sarawak, and the Kaliberau Dalam early production system project in Indonesia,” said Rystad.

…

Leave a Comment » | oil and gas | Tagged: | Permalink
Posted by Wata

Petronas to send first carbon neutral LNG to China’s Shenergy

October 25, 2021

Dateline 2021-10-01, Capital.com.

Petronas LNG, a subsidiary of Malaysia’s state-owned oil and gas major Petronas, signed an agreement with China’s Shenergy Group for the delivery of carbon-neutral liquefied natural gas (LNG) cargoes from Petronas LNG Complex in Bintulu, Sarawak, Petronas, according to its statement on Thursday. 

The deal is the oil giant’s first delivery of carbon-neutral super-chilled gas to China. The firm would deliver the cargoes to Shenergy’s terminals in Shanghai between October 2021 and March 2022, the company release added.

Last month, Petronas shipped its first carbon-neutral LNG cargo to Japan.

…

Leave a Comment » | oil and gas | Tagged: , , , | Permalink
Posted by Wata

Malaysia’s Petronas says maintenance underway at Kimanis oilfields

October 10, 2021

Dateline 2021-09-30, Financial Post/ Reuters:

Malaysia’s state energy firm Petronas said on Thursday that unplanned maintenance is underway at the Gumusut-Kakap oilfield operated by Royal Dutch Shell off the coast of Sabah.

“The operator is working to resolve the matter in ensuring the Kimanis crude oil achieves its peak production,” Petronas said in an emailed statement to Reuters.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Petronas needs new direction to survive climate change, says MP

October 8, 2021

Again, PETRONAS, Petrlouem Development Act? This is like saying PROTON needs to pivat towards mass transport, and gomen will subsidise them… wait. Or maybe Malaysian Airlines needs to pivot toward hospitaliy services, and gomen will subsidise them.. wait.

Dateline 2021-09-29, FMT:

State energy firm Petronas has to change its business model to survive in the coming decades due to climate change.

Wong Chen (PH-Subang) said it would need to focus instead on renewable energy, together with its contractors, vendors and suppliers.

“Otherwise, Malaysia will face a catastrophe,” he said during his speech on the 12th Malaysia Plan (12MP) at the Dewan Rakyat.

…

Leave a Comment » | oil and gas, Renewable Energy | Tagged: , | Permalink
Posted by Wata

Malaysia’s Petronas reports fire at LNG complex in Bintulu, operations unaffected

October 7, 2021

Pure speculation on my part, pump fire?

Dateline 2021-09-29, Reuters:

Malaysia’s state energy firm Petronas said a fire broke out at its massive liquefied natural gas (LNG) complex in Bintulu on Tuesday but that operations were unaffected.

The fire occurred at the sea-cooling water outfall channel located outside the complex’s process area, and was successfully extinguished, Petronas said in a statement on Wednesday.

…

Leave a Comment » | oil and gas, Safety | Tagged: , , | Permalink
Posted by Wata

Covid-19: Sabah records further drop in daily cases, but KK figures jump due to oil rig workers’ cases

October 3, 2021

Dateline 2021-09-25, The Star:

Sabah recorded a further decline of daily Covid-19 cases on Sunday (Sept 19), dropping to 1,356 infections compared to 1,395 previously, but saw the state capital numbers increased from the work-related spread in the oil and gas industry.

State Covid-19 spokesperson Datuk Seri Masidi Manjun said Kota Kinabalu district registered 220 cases, a jump from 160 the day before.

“Only yesterday (Saturday, Sept 18), I mentioned about the challenges of infections among offshore workers padding to numbers, and today we saw the increase in Kota Kinabalu attributed by 78 positive cases involving the workers of an offshore oil rig owned by Petronas,” he said.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Petronas, Eneos to develop clean hydrogen supply chain

September 30, 2021

Now, is clean hydrogen, black, blue, green or indigo?

Dateline 2021-09-11, The Malaysian Reserve:

Petroliam Nasional Bhd via its subsidiary Petronas Gas and New Energy Sdn Bhd (PGNESB) has signed a memorandum of understanding (MoU) with Eneos Corp (Eneos) to develop a competitive, clean hydrogen supply chain between Malaysia and Japan jointly, and to explore other hydrogen opportunities.

Petronas Gas and New Energy executive VP and CEO Adnan Zainal Abidin said the group is proud to expand its three-decade long energy partnership with Eneos to include hydrogen.

“This is on top of what we have established in the liquefied natural gas (LNG) space.

“More importantly, this partnership is a testament of how industry collaboration can help accelerate our shared aspiration towards a low carbon future,” he said in a statement.

…

Leave a Comment » | oil and gas | Tagged: , , , | Permalink
Posted by Wata

Cover Story: A challenging transition period for Petronas

September 25, 2021

Dateline 2021-09-09, The Edge:

NATIONAL oil company Petroliam Nasional Bhd (Petronas) is going through a period of transition, and could undertake asset divestments, acquisitions into new businesses and other corporate exercises — all of which could dampen earnings in the near term at least.

These changes come at a time when the global economy is being ravaged by the effects of the Covid-19 pandemic and there is a shift away from oil as a source of fuel as environmental, social and governance (ESG) awareness makes cleaner options more desirable. Electric cars are catching on, threatening to sideline internal combustion engines.

“There is one very aggressive consultancy that has told us [oil is going to peak] in the next one or two years. Yes, that soon, mainly because of the convergence of all the OEM (original equipment manufacturer) carmakers,” says Petronas president and group CEO Tengku Muhammad Taufik, in explaining the challenging outlook.

…

Leave a Comment » | oil and gas | Tagged: , | Permalink
Posted by Wata

Question marks as Petronas delivers its first ‘carbon neutral LNG’ cargo

September 16, 2021

Dateline 2021-08-18, Energy Voice:

Malaysia’s Petronas has delivered its first ‘carbon neutral liquefied natural gas (LNG)’ cargo from its Bintulu export complex to Japanese utility Shikoku Electric at the Sakaide import terminal in Shikoku Island. Although question marks remain around whether the industry can really make LNG carbon neutral.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Petronas announces end of SRT MotoGP title sponsorship

September 10, 2021

Aright, Formula E is coming to Malaysia. PETRONAS, where do I sign up? And have you heard of this thing called ChemECar competition. Send me a blank check, er, call me up so we can talk about competitions taking into account UNSDG.

And to paraphrase the philosophy of an Islamic Hadith, if you take away a good thing, replace it with something equally good or better.

Dateline 2021-08-14, Autosport:

On Thursday night it was revealed that Petronas would end its support for SRT in the MotoGP world championship at the end of the current season, just three years into the squad’s career in the premier class.

The support will also end for the Petronas Sprinta Moto2 and Moto3 teams, with both outfits expected to be folded by SRT at the end of the year to safeguard the MotoGP project.

…

Leave a Comment » | oil and gas | Tagged: , | Permalink
Posted by Wata

« Previous Entries
Next Entries »