Petronas divests interest in Bintulu’s LNG 9

August 26, 2017

Dateline 2017-07-28, Borneo Post:

Petronas has signed an agreement with PTTGL Investment Ltd (PTTGLI) for PTTGLI’s equity participation of a 10 per cent equity interest in Petronas LNG 9 Sdn Bhd (PL9SB) in Bintulu.

PL9SB, a subsidiary of Petronas, owns the ninth LNG liquefaction train (Train 9) in the Petronas LNG Complex in Bintulu, Sarawak.

PTTGLI is a subsidiary of PTT Global LNG Company Ltd (PTTGL) which is a 50:50 joint venture company between PTT Public Company Ltd (PTT), Thailand’s state-owned oil and gas company, and PTT Exploration and Production Public Company Ltd (PTTEP).

With a production capacity of 3.6 million tonnes per annum (mpta), Train 9 started its commercial operations in quarter one of this year, boosting the total output capacity of the Petronas LNG Complex to 30 mtpa.

Following PTTGLI’s 10 per cent participation, Petronas now owns 80 per cent share in PL9SB, while the remaining 10 per cent is owned by JXTG Nippon Oil & Energy Corporation through its subsidiary, Nippon Oil Finance (Netherlands) BV.

…

 

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

Thailand’s PTT considers taking stake in Malaysia gas facility

August 24, 2017

Dateline 2017-07-20, The Star:

Thailand’s state-owned oil and gas giant PTT Plc is considering taking a stake in a natural gas liquefaction plant to be built in Malaysia, a company spokesman said on Thursday.

The PTT board will on Friday consider the project, to be built with Malaysia’s Petronas, making a decision on the size of any potential stake, the spokesman added.

That came after the Bangkok Post on Wednesday cited Wirat Uanarumit, chief operating officer of PTT’s upstream petroleum and gas business, as saying that the company was looking to hold a 10% stake in the new facility.

Petronas did not immediately respond to a request for comment from Reuters.

…

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

Malaysia’s Petronas attracts PTT to Sarawak

March 31, 2017

Dateline 2017-02-23, Bangkok Post:

PTT Plc, the national oil and gas conglomerate, has expressed interest in buying a stake from Malaysian state-owned oil and gas company Petroliam Nasional Bhd (Petronas) in a large upstream Sarawak gas field.

 

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

Bad days for national oil companies to continue, Fitch says

November 5, 2016

Dateline 2016-09-21, Zee Biz:

The National Oil Companies (NOCs) in South and South-East Asia unlikely to return to positive free cash generation in the next two years, said a Fitch Ratings report.

Most of the NOCs reported poor financial result for the first half or first quarter ended on June 30 due to a fall in average oil and gas prices from a year ago. Revenue and EBITDA declined over this period for Malaysia’s Petroliam Nasional Berhad (PETRONAS); Thailand’s PTT Public Company Limited; and India’s Oil and Natural Gas Corporation Limited (ONGC) and Oil India Limited.

…

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

Thailand’s PTT plans to invest more in Malaysia

August 19, 2016

Dateline 2016-07-13, Reuters Africa:

PTT Pcl, Thailand’s top energy firm, plans to invest more in neighbouring Malaysia including cooperation in a liquefied natural gas (LNG) project, Chief Financial Officer Wirat Uanarumit said on Wednesday.

State-controlled PTT is studying the possibility of joint investments in several projects, Wirat said but declined to give further details.

PTT has been in talks with several LNG suppliers to secure long-term energy supplies as Thailand uses natural gas for almost 70 percent of its power generation.

PTT already has a joint venture, Trans Thai-Malaysia (Thailand) Ltd, with Malaysia’s Petronas to overlook the gas pipeline and gas separation plant projects since 2000.

In June, PTT cut its 2016 investment budget by 15 percent to 43.31 billion baht ($1.23 billion), which is part of its five-year plan to spend 297 billion baht during 2016-2020.

…

Leave a Comment » | investment, Malaysia | Tagged: , | Permalink
Posted by Wata

PTT cancels Malaysia venture Projects in China and Indonesia to go ahead

April 1, 2014

Investment interruptus? Not a good sign for Pengerang.

Dateline 2014-02-22, Bangkok Post:

The SET-listed PTT Global Chemical Plc (PTTGC), Thailand’s largest petrochemical producer, has decided to cancel its US$200-million petrochemical project in Malaysia due to lower-than-expected returns.

Through a joint venture with the Malaysian national oil and gas company Petronas and Japan’s Itochu Corporation, the downstream petrochemical project in Pengerang, Johor state, is set to produce polyol and poly carbonate for the automotive parts industry.

The three investment partners signed a “head of agreement” in Malaysia in May 2012.

Bowon Vongsinudom, PTTGC’s chief executive and president, yesterday said the feasibility study showed that the project has Internal Rate of Return (IRR) of less than 15%.

”That IRR is not justified under our benchmarked investment return,” he said.

…

Leave a Comment » | investment, Malaysia, Malaysian election | Tagged: , , , | Permalink
Posted by Wata