From VNS- PETRONAS acquires Thang Long LPG

March 24, 2010

Even though this isn’t Malaysian per se, I have included it as Thang Long is in my business sights at the mo’. Dateline 2010-03-20, taken from the Viet Nam News:

HA NOI — Malaysia’s national petroleum corporation, Petroliam Nasional Bhd (PETRONAS), took full control over Thang Long Liquefied Petroleum Gas Co Ltd after buying PetroVietnam Gas Corp’s share of 28.83 per cent.

The value of the deal was not revealed by either party.

Thang Long LPG, established in 1995, began as a joint venture between PETRONAS and PetroVietnam Gas Corp. The company has a register charter capital of nearly US$6.2 million, to which PETRONAS contributed $4.4 million (equivalent to 71.17 per cent of the total value).

The completion of the acquisition paves the way for PETRONAS to consolidate its liquefied petroleum gas (LPG) business in Viet Nam which is being led by subsidiary Thang Long LPG and PETRONAS Viet Nam Company Ltd (PVL).

As part of the acquisition exercise, the PVL will assume the role of sole agent for sales and distribution of the “Gas PETRONAS” brand in Viet Nam.

“Gas PETRONAS” is currently sold and distributed by the PVL in the country’s southern region and will soon be introduced in the north as a replacement of the “Thang Long Gas” brand.

Thaêng Long LPG is the second largest LPG distributor in the north of the country after Petrolimex Gas.

2 Comments | business opportunity, engineering, oil and gas | Tagged: , | Permalink
Posted by Wata

From the NST – Explosion at Labuan PETRONAS plant

February 28, 2010

Taken from the NST, dateline 2010-02-22:

LABUAN: There was a large explosion at the Petronas Methanol Labuan (PML)’s S1001 controlled natural gas Flare Tip that caused operations at the RM511 million methanol plant to cease today. Eighty-two PML contract workers and 46 of its staff were working there when the explosion occurred at 11.37 am but no one was hurt.

Two fire engines from the Labuan Fire and Rescue Service and the PML rescue unit rushed to the scene and controlled the situation within 30 minutes.

Speaking at a news conference, PML production chief, Mohd Kamis Abdul Manap, said a detailed investigation will be conducted to determine the cause of the explosion.

“We will conduct a comprehensive investigation before operations can continue. We will identify if there was weakness in the safety aspect,” said Mohd Kamis

Offhand, I would say failure of the Permit to Work System, opening up the process, air ingress into the vent, improper molecular seal vent, too low design pressure of the vent…

Wow, and I’m making all this up from the news clip above. Synergy would be most pleased in leading the 3rd party safety inspection. You know where we are.

You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.

Leave a Comment » | engineering | Tagged: | Permalink
Posted by Wata

From The Star – Caught in a Middle Income Trap

February 17, 2010

I’m posting this article, dateline 2010-02-07, because there was a specific paragraph on the oil & gas industry:

…

PETRONAS is known worldwide for being a successful national petroleum company. PETRONAS has done really well for the country in terms of generating oil and gas revenue from both Malaysian and non-Malaysian fileds. Unfortunately, unlike the E &E sector, upstream oil and gas production has not resulted in the emergence of a corresponding vibrant downstream oil & gas subsector.

… 

You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.

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

From The NST – PETRONAS President

February 5, 2010

Taken from the New Straits Times, dateline 2010-02-03:

Shamsul Azhar is new PETRONAS president and CEO

PUTRAJAYA: Datuk Shamsul Azhar Abbas has been appointed president and chief executive officer of Petronas effective February 10 2010, Prime Minister Datuk Seri Najib Razak announced today.

He has also been appointed Acting Chairman of the Petronas Board of Directors.

Shamsul Azhar, 57, who served as MISC President and Chief Executive Officer between 2004 and 2009, will replace Tan Sri Mohd Hassan Merican whose contract ends on February 9.

We welcome the new PETRONAS president, which ends the uncertainty surrounding who will step up to the plate. Those of you who have Datuk’s ear, please whisper the word ‘Synergy Oil & Gas – bagus” once in a while.

I hope this means that Datuk’s signature will soon flow from his pen, signing all those projects I presume have been put on hold until the succession issue was sorted out.

You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.

4 Comments | engineering, Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata

IEM Shout Out – Fundamentals Of Dynamic Simulation

February 4, 2010

This is a shout out for the IEM. My Technical Division will hosting the above seminar on the 6th February, 2010. It’ll be at 9:30 am (makan-makan at 9:00) at Wisma IEM. That’s right people, as part of the new health drive you are required to walk up 3 flights of stairs to get your 2 CPD points.

Process simulation is a model-based representation of chemical, physical and other technical processes and unit operations in oil, gas and petrochemical plants. The fundamentals are a thorough knowledge of chemical and physical properties of pure components and mixtures and of process reactions. All these are combined with mathematical models which allow the calculation of a process in computers.

Shahrul Azman Zainal Abidin is a Principal Engineer in Process Simulation and Optimization. Shahrul Azman graduated as a Chemical Engineer from California State University, Long Beach, USA in 1988. He obtained his MSc in Gas Engineering degree from University of Technology Malaysia in 1996.

…

Both Shahrul Azman and Zalina are serving Group Technology Solutions, Research & Technology Division of PETRONAS.

The speakers are very passionate about their work, and would welcome any questions you care to bring up. Heck, bring along your copy of iCon if you have one.

If you want to see what Synergy does, please come and bring up our name in the question and answer session.

Fliers for the above and other events may be obtained here. A map to Wisma IEM is presented here. It’s the building identified as ‘Puteri Nursing College.’

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

From the Business Times – Picking PETRONAS’ new helmsman

February 2, 2010

Taken from the Business Times, dateline 2010-02-01:

Current chief likely to be replaced by Shamsul Azhar Abbas who has headed almost all departments in the company

By S JAYASANKARAN

KL CORRESPONDENT

FOR the sake of continuity and for planning purposes, the reappointment of a chief executive of an important Malaysian government-linked company is generally announced way before his contract expires.

This was manifest in the reappointment of Azman Mokhtar as managing director of state investment agency Khazanah Nasional last week. Mr Azman’s three-year contract expires only in June.

By the same token, it appears that Hassan Merican will almost certainly not be reappointed to helm national oil corporation Petroliam Nasional, or Petronas, Malaysia’s only Fortune 500 company that he has headed since 1995. Mr Hassan’s contract expires on February 8 – in slightly more than a week – and all that’s been heard about his future is a deafening silence.

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

From the Malaysian Insider – H Merican to Stay?

January 22, 2010

Taken from the Malaysian Insider, dateline 2010-01-19:

KUALA LUMPUR, Jan 19 — Petronas advisor Tun Dr Mahathir Mohamad (picture) signalled his objection today to the national oil company’s CEO Tan Sri Hassan Marican being replaced with a senior politician.

The Malaysian Insider had reported last week that Hassan’s term at the helm of Petronas is likely to be extended for another year after his contract expires next month, but speculation persists about a politician taking over his job.

An announcement on the extension — expected soon from the government — will put an end to the uncertainty surrounding Hassan’s future.

Compare this to the article that muses on Tan Sri’s potential replacements, which has a later dateline.

19 Comments | Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata

From the Business Times – Najib Mulls Candidates for PETRONAS CEO

January 20, 2010

From the Business Times, dateline Jan 15, 2010:

A THREE-WAY race to helm Malaysia’s national oil corporation is on but the incumbent is not one of the contenders, executives familiar with the matter said.

…

The three being considered are all from within the company, which puts paid to speculation that Mr Najib would rope in an outsider to helm the oil firm. The trio: Shamsul Azhar Abbas, an adviser to Petronas’ international operations; Anuar Ahmad, a vice-president in charge of human resource management; and Wan Zulkiflee Wan Ariffin, Petronas’s vice-president in charge of the gas business.

I guess the Business Times has its own sources, as this news has not been reported by the Malaysian newswires.

2 Comments | Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata

Saturday Star 2010-01-16 – Job Opportunities

January 18, 2010
  • Synergy is looking for lead safety engineers, safety specialists, junior and lead process engineers and technical writers. We’re on an expansion drive, people! Visit the Synergy website for contact details. For leads, you need 5 years plus experience in the oil & gas industry. For safety specialist applicants, you need to be well versed in HAZOP, HAZID, QRA, FERA and Formal Safety Assessment. Ah, heck. If you have more than 5 years experience in O&G, apply. If you have less than 5, send a donation to the offshore account, and still get abuse. For juniors, go pick up a copy of Cambridge’s ChemEng syallabus, and go study like the Tripods (all of them) are tomorrow. 
  • I see PETRONAS has a walk-in interview session on the 23 & 24 January 2010 at the KL Convention Centre (remind me not to go to in that weekend).  They have postions for executives/ engineers/ technical coaches & technical professionals. You need at least a BEng and 8 (eight) years related experience. Don’t come crying to me if they reject you because you only have 5 years. Hah, they want you to bring their latest resume (no CVs), to passport photos, NRIC, academic qualifications and last 3 pay slips (of course, everyone will bring in ‘adjusted’ slips if they had any sense).
  • Muhibbah Petrochemical Engineering is looking for senior QA / QC, project planning and control engineer. You can send your resume in here.
  • Turboservices is looking for a opns & maint technician. Send email here.
  • Petrosains is looking for people as well, I guess.

No food recommendations this week. I’ll be in Kerteh InshaAllah this Wed, so I guess it’s Sundram banana leaf rice for lunch. Sigh, how I miss Pak Ali’s nasi biryani…

6 Comments | engineering, Malaysia, oil and gas | Tagged: , , | Permalink
Posted by Wata

From Rueters – PETRONAS says to maintain govt payouts

December 19, 2009

Taken from Rueters, dateline 2009-12-16:

Malaysia’s state oil company PETRONAS [PETR.UL] will maintain its annual 30 billion ringgit ($8.79 billion) dividends to the government despite prospects of weaker profits and significant investment outlays in Iraq.

Malaysia is facing its largest budget deficit in more than 20 years. It currently depends on Petronas for nearly half of government revenue.

The Edge Financial daily quoted Petronas President and Chairman Hassan Marican as saying the company’s profits for financial year ending in March 2010 will not be as good as last year because prices and sales volumes were down.

This probably came about from the (wishy-washy) government’s fear of upsetting the people, as an article from The Star, dateline 2009-12-10 said:

Lower oil prices will limit royalty to Government

PETALING JAYA: Lower crude oil prices that hit Petroliam Nasional Bhd’s (PETRONAS) bottomline hard this year are likely to limit the national oil firm’s ability to repeat the huge payout to the Government last year.

Recent official statements indicated that Petronas’ petroleum payments to the Government are expected to fall between 14% and 19% in the financial year ending March 31, 2010 (FY10) to between RM60bil and RM64bil.

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

« Previous Entries
Next Entries »