Worker dies after inhaling methane gas at Petronas processing plant

December 8, 2016

Dateline 2016-10-27, Malay Mail Online:

A contract worker was killed while his two colleagues suffered severe breathing difficulties after inhaling methane gas when cleaning a tank at a processing plant owned by Petronas Gas Berhad (PGB) in Kertih, yesterday.

In the 3pm incident the victim Mohd Marwan Mustafa Afandi, 35, died at the scene while his friends Mohd Zul Aizat Aziz, 23, and Mohd Yaacob Badrishah, 24 were lucky to survive but experienced shortness of breath.

Get set for competitive prices thanks to Gas Supply Bill 2016

June 12, 2016

Dateline 2016-05-23, NST:

Consumers in Malaysia are set to enjoy competitive pricing and efficient services in gas supply, thanks to the Gas Supply (Amendment) Bill 2016 passed by the Dewan Rakyat today.

The amendment is set to enhance competition with the participation of third parties in the gas supply industry by implementing Third Party Access (TPA).

Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar, in winding up debate on the bill, said the gas supply industry is currently monopolised by existing industry players such as Petronas Gas Bhd and Gas Malaysia Bhd.

“Currently, the only party which supplies gas through pipeline transmission is Petronas, the nation’s natural gas producer which sells gas to other parties such as Gas Malaysia Bhd.

Petronas Gas FY15 earnings up 7.8% to nearly RM2b

April 10, 2016

Dateline 2016-02-24, The Star:

Petronas Gas Bhd earnings rose to nearly RM2bil in the financial year ended Dec 31, 2015 boosted by a one-off recognition of deferred tax asset (DTA) while it expects its agreements and utilities to underpin its steady performance for 2016.

It announced a dividend of 17 sen per share compared with 15 sen a year ago. For FY15, the total dividends were 60 sen compared with 55 sen a year ago.

Petronas Gas said it expected a challenging economic environment. However, it envisaged its steady performance to continue, backed by its solid business models under gas processing agreement, gas transportation agreements and regasification service agreement signed with its parent, Petroliam Nasional Bhd.

PGB records RM1.7b profit after tax

June 18, 2015

Dateline 2015-04-30, NST Online:

Petronas Gas Bhd (PGB) recorded profit after tax of RM1.7 billion despite declining crude oil prices, ringgit depreciation and a challenging economy.

Its chairman Datuk Manharlal Ratilal said 2014 was a strong year for the company in terms of performance and revenue.

“Overall, 2014 was a strong year for PGB as it has generated RM4.4 billion in revenue, a 13 per cent or RM500 million increase from last year.

“Our market capitalization closed at RM44 billion at year end, making PGB one of the largest corporations on Bursa Malaysia. Dividend paid was 55 sen  per ordinary share.”

The improved performance was mainly attributed to its full year operation from its liquefied natural gas (LNG) Regasification Terminal in Sungai Udang, Malacca as well as Gas Transportation Agreements with Petronas.


AmResearch optimistic of Petronas Gas

January 2, 2015

Dateline 2014-11-06, Yahoo News:

AMRESEARCH expects Petronas Gas Bhd to reach a final investment decision (FID) on the Pengerang liquefied natural gas regasification terminal (RGT) by the end of the year, following Petronas’ FID for the Refinery and Petrochemical Integrated Development (Rapid).

AmResearch’s optimism is hinged on the fact that Petronas Gas will likely hold the controlling equity stake in the RGT while its other partners, possibly Dialog and Vopak, will have the remaining stake.

AmResearch is sticking to its “hold” call on Petronas Gas with an unchanged fair value of RM24.40 per share, implying a 2015 price to earnings ratio of 27 times.


Gas leak explosion kills Petronas worker, injures three others

August 21, 2014

Dateline 2014-06-20, Petro Global News:

A worker at a gas processing facility in Malaysia operated by an affiliate of Petronas was killed on Thursday after an explosion.

Petronas Gas (PGB) confirmed that the employee “succumbed to his injury while doing repair work” at near Gas Processing Plant 4.

The processing facility is located in Kertih, Terengganu, Malaysia.

“PGB is extending all necessary assistance to the family members of the victim,” the company said.

According to local media, the deceased worker was a welder.

Three others were injured in the explosion.

The four workers were performing maintenance to repair a gas leak.

Marketing Rounds – PETRONAS Gas

April 9, 2014

I took a trip to Segamat lately. Anyone know of POIs around there?

Gas Malaysia diversifies into energy business

April 3, 2014

Dateline 2014-02-25, The Sun:

Natural gas distributor Gas Malaysia Bhd will expand into the energy business by teaming up with Tokyo Gas’ Energy Advance Co Ltd to provide electricity and steam through a combined heat and power (CHP) system to industries in Malaysia.

Gas Malaysia said the joint venture is in line with its overall strategy of maintaining its key position to be an innovative value added energy solution provider.

“The JV company will diversify Gas Malaysia’s business from gas distribution to energy business,” it told Bursa Malaysia yesterday.

Gas Malaysia will lead a 66:34 JV together with Tokyo Gas Co Ltd’s subsidiary, Energy Advance Co Ltd (ENAC), to develop and operate the CHP system.


Highlight: PetGas 4Q profit jumps 33% y-o-y to RM394m

March 15, 2014

Does The Edge website purposely make it had to use the c-C and c-V commands?

Dateline 2014-02-10, The Edge:

Petronas Gas Bhd (PetGas)’s net profit jumped 33% year-on-year (y-o-y) to RM394 million in the fourth quarter ended Dec 31, 2013, from RM295 million in the fourth quarter of 2012.

Revenue also rose 13% y-o-y to RM1.028 billion, from RM909 million.

The company proposed a final dividend of 40 sen per ordinary share under a single tier system for the financial year ended Dec 31, 2013. This amounts to RM791 million.

In a statement to Bursa Malaysia, PetGas said the profit increase was in line with the increase in revenue. In addition, there was higher other income and share of profit from associate and joint ventures.

The firm also said its larger profit was due to lower tax expense resulting from a change in deferred tax estimates. This came on the back of a lower future statutory tax rate.

PetGas said its revenue increase was largely due to regasification revenue. This followed commencement of the LNG Regasification Terminal operations in the second quarter last year and higher gas transportation revenue.

CUE FOR MORE HIKES? Era of cheap energy has ended – Petronas

February 13, 2014

Dateline 2013-12-21, Malaysia Chronicle:

THE era of cheap energy has ended and Malaysia has to face the fact that it has to move on to an open market regime, targeted to be implemented by 2019, said Petroliam Nasional Bhd (Petronas).

The national oil company, by way of its wholly-owned subsidiary Petronas Gas Bhd (PGB), has recorded revenue foregone due to regulated gas pricing at a cumulative RM199.9 billion since 1997, with 2013’s first three quarters making up RM20.29 billion alone.

“What we want to do is to move our regulated gas market towards an open market so that we can enjoy competitive pricing. In order to achieve this we need to gradually phase out our regulated market module now,” said Petronas general manager for Malaysia gas management Ezhar Yazid Jaafar during a media briefing, here, recently.

He explained that in preparation for an open market module, the government is increasingly decreasing the amount of gas consumption subsidy, which has a significant impact on the increment of the electric tariff from 33.54 sen/kWj to 38.53 sen/kWj.