November 3, 2011
But, but players involved in the new risk sharing contracts have engaged fabricators and design houses who not only don’t have PETRONAS licenses, heck they aren’t even in Malaysia. Seen how busy a neighboring country is? You know, the one which has hired a past PETRONAS president?
Dateline 2010-10-28:
Petroliam Nasional Bhd has categorically stated that all companies wishing to start or continue any business or service related to Malaysia’s oil and gas upstream operations and activities must apply for a licence from the national oil company.
Petronas said on Friday, Oct 28 that the policy, enforced under the regulations following the enactment of the Petroleum Development Act, 1974, has not changed, and “applies to all local and foreign companies, service providers and suppliers”.
It was responding to recent media reports claiming that Petronas had decided “to do away” with its licensing system for companies involved in Malaysia’s upstream O&G industry.
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business opportunity, engineering, Malaysia, oil and gas | Tagged: Petronas, PETRONAS license | 
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Posted by Wata
April 28, 2011
Dateline 2011-04-23:
Malaysia Marine and Heavy Engineering Bhd (MMHE) is believed to be looking at taking over some or all of the oil and gas assets of conglomerate Sime Darby Bhd , The Edge weekly newspaper reported on Saturday.
The report said MMHE, the heavy engineering unit of Malaysia’s state oil firm Petronas , has been evaluating the assets for the past several months but that the plan was still in the preliminary stage.
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Posted by Wata
March 13, 2011
Dateline 2011-02-26:
THE recent US$800mil risk-service contract (RSC) awarded by Petroliam Nasional Bhd (Petronas) to a consortium formed by two local parties and a foreign player for the development and production of the Berantai marginal oil field, located 150km offshore Terengganu, has drawn enormous interest for more than one reason.
Firstly, it marks the adoption of a new contract, RSC, for development and production of local marginal oilfields (as oppose to the production-sharing contract used for exploration and production works).
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You can subscribe to an online version of the paper at the e-browse site.
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Posted by Wata
March 3, 2011
Dateline 2011-02-21:
The oil and gas finds are timely when Malaysia’s oil and gas reserves and production capacity are seen dwindling.
IT HAS been quite a while since we last heard Petroliam Nasional Bhd (PETRONAS) and its production sharing contractors announcing new major discoveries of oil and gas in Malaysian waters.
Last week’s announcement of oil and gas discoveries offshore Sarawak could not have come at a better time when Malaysia’s oil and gas reserves and production capacity are seen dwindling.
It was just last year that PETRONAS had pledged to concentrate more on domestic exploration and development rather than aggressively going to lucrative but risky international waters.
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Posted by Wata
February 26, 2011
Dateline 2011-02-23:
PETRONAS Gas Bhd’s (PTG) earnings outlook has been revised upwards by a number of research houses after it posted better- than-expected earnings for the nine months ended Dec 31, 2010.
It reported a jump in pre-tax profit to RM1.549 billion for the nine-month period under review from RM966.287 million in the same period in 2009, while revenue rose to RM2.633 billion from RM2.419 billion.
MIDF Research revised PTG’s earnings forecast for financial year (FY) 2011 and FY12 upwards by 10.5 per cent and 7.4 per cent, respectively.
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Posted by Wata
December 24, 2010
Taken from the Star, dateline 2010-12-15:
Six offshore oil rig workers were injured when a fire broke out at the Bekok C platform operated by Petronas Carigali Sdn Bhd about 200km off Terengganu waters.
They were among 102 people who were carrying out chores at the site when the incident occurred at 12.05am yesterday. All of them were evacuated to another platform by Petronas’ emergency response team.
Petronas Carigali said 108 workers were on the platform when the fire broke out.
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You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.
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Posted by Wata
December 22, 2010
From the Business Times, dateline 2010-12-21:
The operation of the Miri Crude Oil Terminal (MCOT) in Lutong, about 12 kilometres from Miri, was halted for three hours today after a fire broke out.
PETRONAS Carigali Sdn Bhd, the exploration arm of national oil corporation PETRONAS, in a statement today said the fire, which started at about 9.30am today was extinguished within 10 minutes.
It said the fire started at the MCOT’s Free Water Knock-Out Vessel which received the oil and gas supply from offshore.
“The incident did not cause any injuries to personnel,” the statement said, adding that the terminal’s operation resumed at 1.15pm today.
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Posted by Wata
November 11, 2010
Here’s an article from the Malaysian Petroleum Club publication, Resource. It is on Sobri Abu of PETRONAS petrochemical fame.
Resource article on Sobri Abu
2 Comments | Chemical, Malaysia, oil and gas | Tagged: Petronas | Permalink
Posted by Wata
November 5, 2010
Dateline 2010-11-02, from City A.M.:
STATE-owned Malaysian oil and gas group, Petronas could raise up to $4.8bn (£2.9bn) from an initial public offering (IPO) of shares in its newly formed chemicals subsidiary, more than double earlier market estimates.
The prospectus for the IPO of Petronas Chemicals Group reveals shares will be priced at between MS$4.50 and MS$5.20. But the group has increased the amount of stock to be sold from 30 per cent to 35.6 per cent. The increased offering reflects the strength of Asian capital markets whose local economies are in buoyant mood as well as an influx of western investment funds seeking higher returns. Selling the maximum share allocation would raise $4.78bn, compared with initial estimates for the sale of about $2bn. The listing could become Malaysia’s biggest capital raising, dwarfing the listing of Maxis, the telecommunications group, which raised $3.3bn in 2009.
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Posted by Wata
October 20, 2010
Taken from Platts, dateline 2010-10-05:
Petronas expects the oil and gas industry to remain highly “competitive and challenging,” but the company is positioning itself towards a “new reality” with cost optimization, robust growth strategies and operational excellence, the Malaysian national energy company said late Monday.
In a statement that marked the first time Petronas has reported quarterly results, the company said that the current industry environment was “fraught with high costs, elevated trend and volatility of oil prices, and the prospect of margin erosion.” It, however, asserted that it had put in place strategies in all its business segments to deliver a sound performance in the financial year.
The company reported a net profit of MR12.3 billion ($4 billion) in the April-June quarter, the first quarter of fiscal 2010-2011, up nearly 60% from the same period the previous year led by higher oil and gas prices and sales volume for all products, including refined oil products, petrochemicals, gas and LNG.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 