September 8, 2015
Tentang ‘Seven Sisters’:
Dunai hari ini (2005) adalah amat berlainan. 30 tahun dulu, minyak dan gas merupakan domain beberapa syarikat minyak, iaitu “The Seven Sisters.” Apabila PETRONAS ditubuhkan, kami sebagai pekerja-pekerja yang diambil berkhidmat, secara tidak langsung, mejadi orang-orang yang paling aktif tentang industri minyak dan gas. Jadi, kami dipertanggungjawabkan dengan perundingan-perundingan yang perlu dibuat. Selain itu, apabila bos telah memanggil anda dan berkata, “kamu pergi laksanakannya,”anda akan berkata, “baik, tuan!” Anda tidak boleh berkata, “maaf tuan, saya tidak tahu bagaimana.”
Wish my staff were as enthusiastic for the bleeding edge.
Visit here and buy books so I have some spending money. I expect you to buy the whole set of 4.
February 9, 2016
On hindsight, maybe SK needs to consider that ‘Winter has Come‘, and will be longer that forecast.
Dateline 2015-01-04, Financial Times:
One of Asia’s leading oilfield services groups has warned it expects crude prices to stay at sharply lower levels for up to two years.
Shahril Shamsuddin, chief executive of Kuala Lumpur-based SapuraKencana, also said the energy industry slump was hitting the order books of Malaysia’s fabrication yards, as new projects worth billions of dollars were shelved.
SapuraKencana supplies some of the world’s largest oil exploration and production groups, and Mr Shamsuddin said the supermajors had embarked on a relentless round of cost-cutting to protect dividend payouts, in a downturn that could prove to be worse than that of the 1980s.
February 8, 2016
Happy Umrah Week. Donate to your favourite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.
- I’m looking for jobs for 2Q2016. Send me your POs.
- An associate of mine is looking for a technical safety part-time adviser. 2 Associates, actually. Needs to be needle sharp with respect to QRAs, and HSE safety cases. A calm demeanor to handle nonsensical questions from young engineers helps as well. Either that, or a drinking problem.
- Nothing in the papers this week. See Happy note above.
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!
Food choice of the week? Any weight loss diet.
During these trying times, perhaps you should focus on self improvement. The following are a good set of books to start automating your uncertainty budget tables.
The Cartoon Guide to Statistics, Hands-On Start to Wolfram Mathematica, Doubt-Free Uncertainty In Measurement: An Introduction for Engineers and Students
February 7, 2016
Dateline 2016-01-05, MENAFN:
Malaysian fuel company Petronas Dagangan Bhd, the country’s top-performing stock in 2015, will focus this year on managing inventories to help cut operating costs and sustain dividend payments as it anticipates continued oil market turmoil.
Its strategy to mitigate any further decline in oil prices is similar to last year, when it slashed the number of days it holds inventory for by 30%, Managing Director Mohd Ibrahimnuddin Mohd Yunus said in a December 31 interview.
The company operates the country’s biggest network of retail stations and supplies fuel to factories, vessels and airplanes – – leaving the value of its fuel inventories vulnerable to oil price drops.
“We constantly manage our inventory at an optimal level,” Mohd Ibrahimnuddin said at his office at the Petronas twin towers in Kuala Lumpur. “At these levels, we were able to ride out crude oil prices that have dropped significantly.”
February 6, 2016
And this was when crude was / is / will be (referring to HHGTTG grammar guide) USD37/ barrel.
Dateline 2016-01-04, FMT:
With crude prices at 11-year lows, the world’s biggest oil and gas producers are facing their longest period of investment cuts in decades, but are expected to borrow more to preserve the dividends demanded by investors.
At around $37 a barrel, crude prices are well below the $60 firms such as Total, Statoil and BP need to balance their books, a level that has already been sharply reduced over the past 18 months.
International oil companies are once again being forced to cut spending, sell assets, shed jobs and delay projects as the oil slump shows no sign of recovery.
US producers Chevron and ConocoPhillips have published plans to slash their 2016 budgets by a quarter. Royal Dutch Shell has also announced a further $5 billion in spending cuts if its planned takeover of BG Group goes ahead.
February 5, 2016
Dateline 2015-12-31, The Star:
Oil pricing agency Platts will publish daily price assessments for Malaysia’s Kimanis crude starting from Feb. 9.
The grade has “emerged in recent months as one of the most widely traded light, sweet grades in the Asia Pacific spot market,” Platts said in a note on its website released late on Wednesday.
The price assessments for Kimanis cargoes for lifting on a free-on-board basis from Sabah will be published as an outright number at the close of Asia and London markets and as a differential to Dated Brent at Asia’s close, the agency said.
The crude, with an API gravity of 38.61 degrees and a sulphur content of 0.06 percent, is produced at the Gumusut-Kakap oil project off East Malaysia’s state of Sabah.
February 4, 2016
Just in time. Is there a rumor that PETRONAS may sell the PFLNG1 strengthen their cash position?
Dateline 2015-12-31, Rigzone:
Malaysia’s national oil company Petroliam Nasional Berhad (PETRONAS) announced that the PETRONAS Floating LNG1 (PFLNG1) facility is on track to commence operations in 2016.
“The PFLNG1 has reached a 95 percent overall progress in its construction and will come on stream in 2016. All project updates of the PFLNG1 will be officially announced by PETRONAS in due course,” the company said in a press release Tuesday.
PETRONAS’ first Floating Liquefied Natural Gas (FLNG) facility will be deployed at the Kanowit field, located 124 miles (200 kilometers) offshore Bintulu, Sarawak, East Malaysia, at a water depth of approximately 262 feet (80 meters).
The PFLNG1 vessel, which will produce 1.2 million tons of LNG per year, will play a significant role in PETRONAS’ efforts to unlock gas reserves in Malaysia’s remote and stranded fields to help meet the growing demand for gas.
February 3, 2016
So, I was at the closest Lembaga Zakat Selangor, since my current company is my first employer in 20 years that pays zakat.
A client calls up while I was there, and I tell them that I was at the payment office.
They go quiet for a while, and then say, “I know the oil & gas market is tough, but I didn’t think that you would be an asnaf.”
Go pay your zakat (corporate or otherwise), and spread the wealth.