Extract from “The Young Turks of PETRONAS”

April 13, 2014

Anticipating MNC reactions to the PSC:

“The Task Force concluded that SSB, as a producing entity from offshore Sarawak, would want to stay at all costs in order to extract as much as they could under the new scheme of things and that SSPC would tag along and develop their meagre finds riding on SSB’s management and associated common infrastructure.”

Visit here and buy books so I have some spending money.

Overweight on O&G sector: Maybank

April 25, 2014

Here’s me stirring up the market.

Dateline 2014-04-19, Business Times:

Maybank Research maintains OVERWEIGHT rating on oil & gas (O&G) sector with top buys including Bumi Armada, Dialog, SapuraKencana Petroleum (SAKP), Perisai and Perdana.

It noted that interest is wide ranging but most funds tend to be bottom-up driven and stock-selective, seeing strong thematics such as rig building, drilling, OSV upcycles, Petronas capex driving the sector this year.

‘We met up with UK, Hong Kong and US funds during our marketing roadshows in February and March. The interest was across the board ranging from big-caps to small-caps depending on the fund mandate. Funds that have been less Malaysia centric continue to find it challenging to invest in the Malaysian Oil & Gas (O&G) stocks due to their premium valuations relative to the region.

Hungry for more, Part 3

April 24, 2014

Links to Parts 1 and 2 can be found in the main article.

Dateline 2014-03-19, Energy Global:

Sabah crisis sharpens focus on regional territorial disputes over oil and gas reserves

Following last year’s invasion of Malaysia’s Sabah state by a Filipino militia group, another quiet corner of the world risks being sucked into renewed territorial and ethnic disputes fuelled by a growing regional race for oil and gas reserves.

The Malaysian government responded by ordering its military to bomb the group of more than 200 members of the self-proclaimed ‘Royal Army of the Sulu Sultanate’ who briefly holed up in a village near the port of Lahad Datu. At least 70 people, including nine Malaysian security personnel, were killed in the conflict to expel the group linked to the descendants of a former royal family in southern Philippines with claims over Sabah state.

The conflict has the potential to grow as it involves groups with long-standing territorial claims, separatist ambitions and ethnic grievances now enmeshed with the US-led global war on terror, Sabah’s increasing importance as an oil and gas producer and the area’s 600 km proximity to the disputed hydrocarbon-rich Spratly Islands in the South China Sea.


Marketing Rounds – Vietnam

April 23, 2014

Sabah should join S’wak on oil royalty hike: PBS

April 22, 2014

I really don’t know why Sabah and Sarawak have been in the news frequently this year. Any apologists who want to make a comment?

Dateline 2014-03-20, Daily Express:

Sabah should work together with neighbouring Sarawak in pursuing an increase in the oil and gas royalty and turn this into a reality, said Parti Bersatu Sabah (PBS) Information Chief Datuk Jahid Jahim.

He believes there is nothing wrong for the State Government to work together with its Sarawak counterpart to make a joint request to the Federal Government to increase the rate of oil and gas royalty presently received by both states.

“I think we (Sabah and Sarawak) should work together like what we have done in 1963 when we formed the Federation of Malaysia together. It would be more synchronised and justified if both the states work together on this,” he said.

Saying an increase in oil and gas royalty can be used to support additional development of the State and the people to be on par with what is enjoyed by fellow Malaysians in the peninsula, Jahid, who is formerly Tamparuli Assemblyman, felt the recently announced discovery of oil fields off Sabah which is timely can also be considered as good justification for the request.

Saturday Star 2014-04-19 – Job Opportunities

April 21, 2014

Happy Chem E Car day.

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.
  • Qatar Petroleum is seeking dynamic and qualified professionals for their operations department. Examples of jobs are maintenance engineer, project engineer, senior engineer. Apply here or visit the website.
  • Murphy is seeking extraordinary talent. Examples are lead engineer, mechanical, structural, mechanical, lead facilities engineer, conceptualization engineer (are drugs supplied). Send your CV here.

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!

Let’s talk about maths:


Visions of Infinity: The Great Mathematical ProblemsIn Pursuit of the Unknown: 17 Equations That Changed the WorldAn Imaginary Tale: The Story of [the Square Root of Minus One] (Princeton Science Library)

Anniversary – Deepwater Horizon

April 20, 2014

Drilling Engineers never forget.

IRB loses RM3.34m in oil tax through delay, national audit shows

April 20, 2014

I think they are off by 2 orders of magnitude. Now can you lay off chasing me for pennies?

Dateline 2014-04-07, Malay Mail:

The Inland Revenue Board’s (IRB) Petroleum Division had failed to collect up to RM3.34 million in corporate income taxes, the Auditor-General’s (A-G) said in the first series of its 2013 report tabled in Parliament today.

The report also noted that a total of 31 field audits on corporate income tax cases were not completed on time, which involved additional taxes and penalties amounting to RM8.83 million.


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