March 9, 2014
OPEC Head of States’ Algerian Declaration in 1974, stressed that OPEC member countries have the sovereign and inalienable right to the ownership, exploration and pricing of their natural resources…
Not less than five multinational oil companies were actively exploring for oil in Malaysia under the concession agreements.
Visit here and buy books so I have some spending money. I expect you to buy the whole set of 4.
March 10, 2014
This week has a somber note, a Service your Aircraft public reminder.
Buy my recommendations, or through my Amazon store. Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper
- I’m looking for a senior process engineer, 7+ years experience. Also looking for technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
- Here’s a old sheep in new clothing. Prodigy is opening to new graduates for petroleum engineering, project management, drilling, process and operation. Find the new sheep here.
- Talisman is looking for people. Go and bug them here, or send a snail mail your cv here.
- Nothing else going on today
Here’s a quick list of tech podcasts I follow:
Support your local bookshop! Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!
Since Sir Terry Pratchett has a new volume out, here’s an opportunity to complete your collection :
Raising Steam (Discworld), Dodger, Snuff (Discworld)
The IEM has a coffee table book out, Engineering Heritage of Malaysia (no, it is not Datuk Seri Samy Vellu’s bio). Visit here for details.
March 9, 2014
Dateline 2014-02-03, Platts:
A final investment decision for the floating LNG liquefaction project at the Rotan field in Malaysia has been reached, and it is on track to achieving first gas by 2018, US company Murphy Oil said Thursday during a presentation to discuss its 2013 financial results.
Murphy operates Block H offshore Sabah, where the gas will be sourced, while Malaysia’s state-owned Petronas will operate the 1.5 million mt/year FLNG facility.
On a call with analysts, Murphy CEO Roger Jenkins said the FLNG project “is now fully sanctioned by both parties and the oil-linked gas terms agreed. This is a major milestone for both companies.”
Petronas had said in June last year that it was aiming for FID by the end of 2013.
March 8, 2014
Really? I thought that there was a pretty good clampdown in Sabah and Sarawak, with other Malaysians requiring a work permit to work there. I guess they should increase the cost of coffee to give these permits out to applicants from the Western Eleven?
Dateline 2014-01-28, FMT:
National oil and gas company, Petronas, which was once transparent and receptive to Sabah and Sarawakian employees underwent somekind of a change in the 1990s, so much so that it reclused itself from Borneo, said opposition PKR.
Party vice-chairman See Chee How said that in the past Petronas had been transparent about the number of Sarawakian workers it employed.
“But this openess diminished. There has been no disclosures in the last decade.
“Petronas was once conscientious and open with its employment of Sarawakians in the corporation’s operations in the state.
March 7, 2014
The Star, dateline 2014-01-27:
It was recently reported that the Government is considering restricting the sale of RON 95 to only those in the lower-income bracket.
According to a report from market researcher Euromonitor International, fuel subsidies both help and hurt consumers. The report says that, on average, consumers in the richest 20% of the population get six times as much total benefit from fuel subsidies as do those in the poorest 20%
Over the last 10 years, crude oil prices has soared, affecting millions of Malaysians. Despite the constant increase, vehicle sales in Malaysia has never been better as fuel prices has always remained relatively low compared to our neighbours.
Last year, total vehicle sales hit an all-time high of more than 652,000 units, surpassing an initial forecast of 640,000 units by the Malaysian Automotive Association (MAA).
March 6, 2014
Dateline 2014-01-27, Business Times:
SEVERAL years ago, there were suggestions that Malaysia would become a net importer of oil by this year. Will this happen?
Well, one thing for sure is that Malaysia was also predicted to become a net importer of oil and gas in 2009. And that didn’t happen.
Then, it was said again that this would happen in 2010, but as months went by, it did not happen either. The hydrocarbon continued to become the largest contributor to the Malaysian economy.
But, we should remind ourselves that hydrocarbon is not a commodity that we can manufacture or grow to sustain output. It has been produced and developed through a long period of natural process, and, of course, with God’s will.
So, whatever the predictions, efforts to make new discoveries, particularly in complex and challenging oil and gas reserves, must continue. Enhancing oil recovery in existing depleting fields and exploring opportunites in deeper water must not be overlooked either.
March 5, 2014
Obviously, the aren’t concerned with the rise of consultants’ fees, seeing what they still shell out and force us to play by their rules.
Dateline 2014-01-21, Malaysian Reserve:
Rising operational costs and uncertainty over oil prices are the biggest barriers for growth for oil and gas (O&G) firms, according to most senior professionals in the sector in Asia Pacific, a study from O&G adviser DNV and Germanischer Lloyd (DNV GL) said.
A survey of more than 430 O&G professionals and interviews with more than 20 industry executives found that 90% were confident about the industry outlook in 2014 and 41% were concerned about the costs.
“As a result, operators are having to keep a tighter rein on capital expenditure, with operators undergoing pressure to extend the life of existing assets and increase the return on these investments,” the study “Challenging Climates: The outlook for the O&G industry in 2014” published by DNV GL said yesterday.
Only less than a quarter (22%) of operators in Asia Pacific believe they are on track to hit their targets this year, according to the report.