Turkmenistan says can ship 10 bcm/yr via Nabucco

By Marat Gurt

ASHGABAT, Nov 19 (Reuters) – Turkmenistan is ready to export up to a third of natural gas required to fill the EU-backed Nabucco pipeline as soon as it comes on stream, a Turkmen government source told Reuters on Thursday.

Europe, seeking to ease its dependence on Russian gas, has long courted the gas-rich former Soviet republic as an alternative source of new energy.

Turkmenistan has long expressed willingness to supply Nabucco but has yet to take any real steps towards joining it.

“Obviously, we are ready to supply gas for Nabucco when it reaches us,” said a Turkmen government official who asked not to be named. “As early as next year, 10 bcm can be exported from the Turkmen Caspian shelf where Petronas is working.”

CNPC swaps asset interest with Petronas in Sudan and signs oil refining deal

China National Petroleum Corp., CNPC, has signed agreements with Sudan to expand a refinery in Khartoum and swap oil production assets.

CNPC will swap shareholding in Block 6 with Malaysia’s Petroliam Nasional Bhd.’s, Petronas, Block 5A in Sudan, the Beijing-based company and parent of PetroChina Co. said in a statement, without giving details.

Toyota out of F1, Lotus failed to woo Petronas

WITH one stroke of a Japanese pen yesterday, a new twist unfolded for the future of Formula One and a new scenario for the Lotus F1 team.

It took just the first piece of bad news on Toyota’s pullout from F1 for a handful of opportunities to emerge and much concerns Malaysia’s F1 hopeful Fairuz Fauzy.

As a result of Toyota’s move, it is imminent that Sauber, the victims of BMW’s pullout from F1 previously, will be back in keeping the projection of 13 teams to start next season.

Petronas to extend Sauber deal at 2010

Bad news for Frank Williams after Toyota’s departure! Although the Grove based organization parted ways with the Japanese manufacturer last month in order to ink a deal with British company Cosworth, Toyota’s quit might affect them in other ways too.

For example, it will leave a spot open for a 13th entry in the 2010 Formula One championship, the vacancy becoming the perfect opportunity for BMW Sauber to stay in the series for another season. If BMW’s Mario Theissen will convince the FIA members – and there’s no reason why he shouldn’t succeed – to grant the Swiss team with the vacant spot, Peter Sauber will most likely keep all his former sponsors for 2010 as well.

Force India/Lotus Espionage Scandal Looms in F1

Max Mosley may not be the president of the FIA anymore, but that doesn’t mean the scandals in Formula One will cease with immediate effect. After the spy-gate back in 2007 and the crash-gate earlier this year, another espionage drama is on the verge of making the headlines worldwide.

The scandal concerns Force India and its former employee Mike Gascoyne. According to a report shown by Switzerland’s Motorsport Aktuell – a magazine with a great deal of insight into F1 racing – it seems that the latest wind tunnel model presented by newly entrants Lotus F1 Team in October is a copy of Force India’s challenger for 2010.

Petronas Will Continue To Sponsor F1 Race

KUALA LUMPUR, Nov 5 (Bernama) — Petronas says it will continue to be the title sponsor of the Petronas Malaysian F1 Grand Prix which has proven to be an effective platform to promote Malaysia on the global stage.

In a statement issued to Bernama Thursday, the national oil corporation said its participation and investment in Formula One – and in other sports – had always been based and was built on partnerships that provided direct support towards its business expansion, while complementing international branding efforts.

“This requires Petronas to constantly review, evaluate and explore its position and involvement in international motor sports,” it said.

Iran’s OEOC in deals with Lukoil, Petronas

TEHRAN, 02 November 2009 – Iran’s Oil Exploration Operations Company (OEOC) has signed two contracts with Russian Lukoil and Malaysian Petronas to carry out projects in Uzbekistan.

OEOC Managing Director Hasan Mohammadi-Moqaddam added that the company has inked a $15-million deal with Lukoil to conduct 3D seismic operations in Uzbekistan’s Gissar oil block within 12 months, the Islamic Republic of Iran Broadcasting reported on Saturday.

“We also inked a $20-million contract with Petronas to implement similar operations in Surkhansi oil block within 53 weeks,” he added.

The OEOC will be responsible for analyzing the data from the exploration operations, the official further said.

Sudan Keen On More Investment From Petronas

KUALA LUMPUR, Nov 2 (Bernama) — Sudan would like to see Petronas expand its operations in its country, the largest in the African continent, by investing more and seeking more concessions in the oil sector.

Sudan Undersecretary, Ministry of Foreign Affairs, Dr Mutrif Siddig Ali in making the call in a recent interview with Bernama here, said that currently the Malaysian national oil company was just maintaining its existing business there.

He said Petronas must be bold and make clear decisions to invest more, describing that such a move would also bring more profits to Malaysia’s national oil company.

K’tan timbang tolak p’janjian Petronas

Kerajaan Kelantan sedang mengkaji kemungkinan membatalkan perjanjian menyerahkan hak cari gali kepada Petronas jika royalti petroleum tidak diberikan, kata exco ekonomi dan kewangannya.

Mengulas kenyataan perdana menteri untuk menyerahkan wang ehsan kepada Kelantan, Datuk Husam Musa berkata isu membatalkan perjanjian itu akan dikaji oleh panel peguam yang dilantik kerajaan negeri.

Keputusan tersebut dicapai dalam mesyuarat exco kerajaan negeri hari ini sebagai reaksi segera Kelantan terhadap pengumuman Datuk Seri Najib Razak di Parlimen pagi ini.

KNM gets RM155m orders

KNM Group Bhd (7164), through subsidiaries – FBM-KNM FZCO, KNM Process Systems Sdn Bhd (KNMPS) and Borsig Boiler Systems GmbH – has secured new orders from international clients amounting to RM155 million.

The projects are secured by FBM from Danieli & C Officine Meccantiche SpA, for reactor vessels for the Gulf steel plant project in Egypt; KNMPS from Technip Itally SpA for shop assembled columns for the Jubail export refinery project in Saudi Arabia; and Borsig from EdeA V.O.F., for the engineering, supply and installation of steam boilers at Chemelot Industrial Estate in Geleen, Netherlands.

“The above orders are expected to contribute positively to the KNM Group’s earnings for the financial years ending December 31 2009 and December 31 2010,” the company told Bursa Malaysia Bhd.

KNM may win up to RM500m jobs after Verwater deal

KNM Group Bhd (7164), a maker of process equipment, can win up to RM500 million in contracts after it bought half of a company that’s part of a group which is building a crude oil storage terminal and marine facilities in Kedah.

Last month, KNM bought 50 per cent of Verwater Industrial Services Malaysia Sdn Bhd (VISM) for RM100.

In June, VISM’s parent, Holland-based Verwater Group of Companies, signed a contract with UK-based Lenstar Investment Ltd, the joint developer of a ?220 million (RM1 billion) crude oil storage terminal and marine facilities in Kedah.

Santos, Petronas Unveil Apprenticeship and Training Plan for GLNG

Australian energy company Santos and partner Petronas on Thursday unveiled a $50 million plan to generate up to 100 new apprenticeships and trainee positions to help deliver their Gladstone Liquefied Natural Gas project, GLNG.

Rick Wilkinson, Santos Queensland and GLNG President, said the plan was the first stage of planned investment in jobs and training, providing positions in the Roma region in the State’s south west, and in Gladstone in Central Queensland.

Petronas faces additional RM4b tax yearly

source: Business Times

Petroliam Nasional Bhd (Petronas) is expected to pay an additional RM4 billion in tax annually over the next five years with a streamlining of how tax is treated for assessment of upstream petroleum companies as proposed under the 2010 Budget, AmResearch Sdn Bhd said.

According to the research house, Petronas paid petroleum income tax of RM21 billion last year and an estimated RM24 billion this year.

“Assuming average petroleum tax of RM22 billion, we estimate Petronas paying an additional RM4 billion annually in cash. This accounts for 12 per cent of Petronas’ financial year 2009 capital expenditure (capex) of RM34 billion,” AmResearch said in a report.

Siemens Malaysia Keen To Take Part In Bakun Project

KUALA LUMPUR, Oct 29 (Bernama) — Siemens Malaysia Thursday expressed its interest to take part in the transmission line project of the Bakun Dam project to take place soon.

“It is my sincere hope that Siemens’ competitive and energy efficient technology can be part of this flagship project,” president and chief executive officer Tan Sri Rainer Althoff said at his farewell soiree today.

The project, which is expected to be fully commissioned by 2012, will be able to export electricity to Peninsular Malaysia.

Siemens Malaysia embarking on solar energy projects

KUALA LUMPUR: Siemens Malaysia Sdn Bhd is looking at providing solar energy in Malaysia, especially in the interiors of Sabah and Sarawak, its newly appointed president and chief executive officer M Prakash Chandran said.

“Renewable energy will be one of our focuses. I personally believe there is potential for the use of solar energy in Malaysia, and not just in terms of putting solar panels on top of roofs. We’re talking about industrial generation,” Prakash told The Edge Financial Daily.

He said Sabah and Sarawak are ideal locations for generation of solar energy, as they were situated in the rainforest region on the equator.

He added there was a lot of potential for solar power in Sabah, where some villagers were “marooned” and had unreliable electricity supply.

TNB’s joint venture operational by 2015

KUALA LUMPUR: The Sumatera-Peninsular Electrical Power Interconnection Project, which is jointly developed by Tenaga Nasional Bhd (TNB) and PT PLN (Persero) of Indonesia, is scheduled to be operational by 2015.

The electrical interconnection project, which will have a capacity of 600 megawatts, will comprise 200km of 250kV overhead High Voltage Direct Current (HVDC) double circuit and two 57km of 250kV HVDC submarine cables.

PLN is the state body responsible for all matters related to electricity supply in Indonesia.

TNB projects better profit

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is expecting better profit for its current financial year ending Aug 31 (FY10) as the company is projecting higher electricity sales while keeping margins stable.

Coal prices for FY10 are forecast at below last year’s average US$90.20 a tonne but the higher average coal price in FY09 had crimped on the company’s profit.

“This year’s coal price will stabilise,’’ president and chief executive officer Datuk Seri Che Khalib Mohamad Noh told a briefing announcing the company’s results.

New player to tip scales in Petronas race

source: Upstream Online

Malaysia’s private-owned Master Offshore has turned out to be a serious contender in the race for five contracts valued at 3 billion ringgit ($887 million) offered under the Petronas umbrella tender.

The tender organised on behalf of 11 PSC operators cover work on Malaysia-wide projects over at least three years from 2010.

Master Offshore has emerged from relative obscurity earlier this year to qualify as one of the seven bidders for the tender.

The vessel operator further surprised the industry by beating some other bigger boys to offering a Malaysian-flagged construction vessel for the umbrella tender.

Tenaga core earnings slide 18%

SHARES of national power utility Tenaga Nasional moved up slightly to RM8.50 after the power utility announced on Monday a 2009 core net profit – net profit stripped of extraordinary items – of RM2.1 billion (S$862 million), 3 per cent above consensus estimates.

Even so, the utility’s core net profit slid 18 per cent year-on-year mainly due to decreased demand because of the recession and higher coal prices. Still, the company remains reasonably sound with free cash-flows of RM1.6 billion and gross cash balances of RM6 billion although it has always been in a net debt position: its total long term liabilities are a whopping RM31 billion.

Usul membincangkan Isu Royalti Petroleum kepada Kelantan ditolak

Ahli Parlimen Tumpat, Dato’ Kamarudin Jaffar pada 20 Oktober lalu mengemukakan Usul tergempar bagi membincangkan Isu mengenai Royalti Petroleum yang sepatutnya dibayar oleh Petronas kepada Kerajaan Kelantan.

Bagaimanapun Usul tersebut ditolak dalam Kamar oleh Speaker Dewan Rakyat, Tan Sri Pandikar Amin Haji Mulia.

Teks Usul adalah seperti berikut:
USUL MENANGGUHKAN MESYUARAT DI BAWAH PERATURAN MESYUARAT PERKARA 18 (1)

Usul di bawah Peraturan Majlis Mesyuarat 18(1) dan (2). Dengan ini diberi notis bahawa saya akan mengusulkan supaya mesyuarat ini ditangguhkan untuk membincangkan usul yang melibatkan perkara tertentu, berkepentingan ramai dan perlu disegerakan.

Shanghai receives first LNG cargo from PETRONAS

Malaysia LNG Tiga Sdn. Bhd. (MLNG Tiga), a subsidiary of state-owned Petroliam Nasional Berhad (Petronas), has delivered its first liquefied natural gas (LNG) cargo of 60,500 metric tonnes to Shanghai LNG Company Limited.

This delivery of LNG to Shanghai LNG Company is pursuant to a 25-year sale and purchase agreement (SPA) signed in July 2006 where MLNG Tiga would supply up to 3.03 million metric tons of LNG per year to the Chinese company, Petronas said in a statement Tuesday.

Talisman, Petronas Carigali win US$192m jobs

PETROLIAM Nasional Bhd (Petronas) has awarded two production sharing contracts (PSCs) worth a combined US$192 million (RM649 million) for Block SB309 and Block SB310 offshore Sabah to a partnership between Talisman Malaysia Ltd and Petronas Carigali Sdn Bhd, a wholly-owned subsidiary.

Under the terms of contracts, Petronas said Talisman Malaysia, with participating interest of 70 per cent in each block, will operate both Block SB309 and Block SB310.

TNB Remaco Awarded RM117 Mln Contract By Petronas Gas

KUALA LUMPUR, Oct 29 (Bernama) — TNB Repair and Maintenance Sdn Bhd (TNB Remaco), a wholly-owned subsidiary of Tenaga Nasional Bhd (TNB), was awarded a RM117 million contract by Petronas Gas Bhd (PGB) for the maintenance of nine gas turbines generators and their auxilliary systems.

The units are at PGB’s centralised utility facility (CUF) in Kertih, Trengganu and Gebeng, Pahang.

The eight-year contract covers the supply of spare parts, manpower for inspection of the turbines and the repair of their components.

“This is the second project undertaken by TNB Remaco for PGB, the first being the project management consultancy to PGB-Yayasan Sabah for the development of their 300MW power plant at Kimanis, Sabah,” TNB president and chief executive officer Datuk Seri Che Khalib Mohamad Noh said during the contract signing between TNB Remaco, PGB and GE Energy Services Wednesday.

Rossi takes pole at Sepang

The penultimate MotoGP race of the season and Valentino Rossi already seems to be staking claim to victory, and perhaps the championship too, at Sepang.

Rossi took a record-equalling 58th pole position (equalling Mick Doohan’s record) at the Malaysian circuit when he set a time of 2m0.518secs, breaking the Sepang lap-record, which he’d set himself in 2006. This is Rossi’s sixth pole of the year.

Rossi’s Fiat Yamaha team-mate, Jorge Lorenzo, qualified second, making it the twelfth time this year for an all-Fiat Yamaha front row.

Rossi could very well wrap the championship up this weekend itself. Even if Lorenzo does finish first, Rossi only needs a fourth-place to be champion yet again. Here’s to a steamy shindig at Sepang!

Gulf Petroleum hopes to start work on complex by year-end

KUALA LUMPUR: Qatar-based Gulf Petroleum (M) Sdn Bhd (GPLM) hopes to begin construction on its proposed multi-billion ringgit oil and gas complex by year-end after finalising negotiations with a landowner for the proposed project site, the company said.

It said the construction work would be subject to getting the necessary approvals on environmental impact assessment (EIA) and social impact assessment (SIA) from the relevant authorities in Malaysia. It did not say if the proposed location was still the original site in Manjung, Perak.

Power Politics in Burma’s Yetagun Gas Field

source: Asia Sentinel

Petronas, Malaysia’s state-owned energy company, appears to have caved in to Thai and Japanese interests over a contract to build a platform worth up to US$190 million to compress gas in Burma’s Yetagon field, freezing out the Indian energy giant Larsen & Toubro.

Informed industry sources in  Kuala Lumpur told Asia Sentinel that Petronas Carigali, the Petronas unit holding a wet gas franchise in Burma’s Yetagun field, had earlier disqualified Thai Nippon Steel because the bid by the company, a subsidiary of Japan’s Nippon Steel, contained a conditional clause limiting liability in the event of losses, but ultimately gave in under pressure from the Thais.
“This creates a problem because now the end-users of the products can dictate how and to whom sub-contracts are awarded,” the souorce said. “Competitive bidding is thrown out the window and Petronas and the (Malaysian) Ministry of Finance can end up paying more just to please the Thais.”

Malaysia completes policy draft on nuclear energy

A draft of Malaysia’s national nuclear energy policy has been completed, but nuclear energy is just an option to generate electricity beyond 2020, the Dewan was told.

According to The Star newspaper, Deputy Science, Technology and Innovation Minister Fadillah Yusuf said the policy draft was done following meetings involving officials from 35 ministries, agencies and government-linked agencies.

Fadillah said the Government was studying all aspects, including safety issues, if Malaysia intended to harness nuclear energy as an alternative option for power generation.

“The decision to develop nuclear energy for power generation rests on the national nuclear policy. The policy draft is now being finalised by the Cabinet.

New biodiesel bid to reduce govt spending

The Plantation Industries and Commodities Minister plans to propose the sale of biodiesel with less palm oil content to reduce government spending for the initiative, known as the B5 mandate.

Under the mandate, the government has set a January 2010 deadline to sell B5 biodiesel, a mixture of 5 per cent palm oil and 95 per cent diesel.

If the government sticks to B5, it will have to spend about RM250 million that is needed by the industry to blend the mix and distribute it to petrol stations.

Pua urged govt not to bleed PETRONAS

KUALA LUMPUR, Oct 22 — A Pakatan Rakyat (PR) lawmaker today urged the government to stop what he called excessive “bleeding” of the national oil company Petronas’ profits which, he alleges, were being used to finance wasteful spending.

Calling Petronas the “government’s ATM”, he said the company’s profits had fallen steadily in recent years and the government was now risking the oil giant’s capacity to continue generating income for the country.

Rossi & Lorenzo at Petronas Twin Towers

Valentino Rossi and Jorge Lorenzo made a visit to the world famous Petronas Towers in Kuala Lumpur ahead of the Shell Advance Malaysian Motorcycle Grand Prix.

Fiat Yamaha duo Valentino Rossi and Jorge Lorenzo appeared in front of 2000 fans ahead of this weekend’s Grand Prix at Sepang, signing autographs and discussing the forthcoming race at the MotoGP marquee at the foot of the Petronas Towers.

With Rossi able to claim the 2009 world title with a top-four finish this weekend, and Lorenzo placed second in the championship standings, the pair discussed their thoughts ahead of the race before heading to the exclusive 86th floor of the building.

Privatisation of Sarawak Energy to ease plans for aggressive expansion

PETALING JAYA: The offer by the Sarawak government to privatise Sarawak Energy Bhd may be due to financing as the latter has plans to aggressively increase hydropower generation capacity.

The state government, through the State Financial Secretary, has a 64.65% stake in the company.

On Monday, a wholly-owned entity of the state government, Delegateam Sdn Bhd, offered to acquire the rest of the shares not owned by the state government at RM2.65 per share.

An analyst with a bank-backed research house said in a report that “private ownership may offer Sarawak Energy the flexibility to adopt a capital structure that will be consistent with its funding and risk profile”.

He said a reason for the company’s privatisation could be the plans to develop up to 10,000MW of mainly hydro-based generation capacity by 2020, which would involve a rather significant capital expenditure of around RM15bil over the next decade.

Bumi Armada buys US$46mil vessel

SINGAPORE: Bumi Armada Bhd is buying a suezmax tanker for US$46mil from Indian company, Great Eastern Shipping Co Ltd, according to a shipping industry publication.

This will be Bumi Armada’s third floating production, storage and offloading (FPSO) unit and comes soon after it had secured funding to the tune of US$190mil for another FPSO.

The report added that Bumi Armada is tipped to win a contract to provide an FPSO for Vietnam’s Huang Long Joint Operating Co. It is understood that only financing issues need to be resolved before a formal contract is signed.

Recently, Bumi Armada announced that it had secured funding worth US$190mil to finance an FPSO being converted for work off Nigeria. The five-year limited recourse loan facility was secured from a club of seven mandated lead arrangers.

Govt may be pressured to review prices of petrol

PETALING JAYA: Rising crude oil prices in the international market may up the pressure on the Government to review local pump prices to rein in the country’s huge fuel subsidy bill.

Crude oil yesterday retreated from a high of US$82 per barrel hit in New York overnight, but remained above the US$80 mark during Asian trading hours yesterday.

At the current level, crude oil had surged 15% since the start of October and more than doubled from a low of US$34 per barrel in March.

The current pump price for the RON95 petrol has been set at RM1.80 a litre since the grade was officially introduced last month.

Toyota unveils new hybrid-only car model

Journalists view the Toyota Motor Corp’s hybrid sedan “Sai” during the news conference in Tokyo, Japan, Tuesday. Toyota is coming out with a more expensive and bigger hybrid-only model than its popular Prius, the Sai. (AP Photo/Itsuo Inouye)

TOKYO: Toyota Motor Corp. has unveiled a more expensive and bigger hybrid-only model than its hit Prius, underlining the Japanese automaker’s ambitions to make green technology more widespread.

The “Sai” sedan is Toyota’s second hybrid-only model after the Prius. Toyota offers hybrid versions of other car models.

Sai, which means “talent” and “color,” will be sold only in Japan, starting Dec.7, targeting monthly sales of 3,000 vehicles.

Pemangku Raja sambut baik usaha Kelantan tuntut royalti minyak

KOTA BHARU, 20 Okt: Kerajaan Persekutuan diminta melunaskan bayaran royalti minyak terhadap Kerajaan Kelantan bagi pengeluaran petroleum di negeri itu mengikut perjanjian yang termaktub antara kerajaan negeri dan petronas sejak tahun 1975. Pemangku Raja Kelantan, Tengku Muhammad Faris Petra Sultan Ismail Petra, yang menyambut baik usaha proaktif kerajaan negeri menuntut bayaran berkenaan juga berharap tuntutan itu ditingkatkan dari semasa ke semasa.

Baginda berkata demikian ketika bertitah merasmikan pembukaan Persidangan Kali Yang Ketiga (Belanjawan) bagi tempoh penggal yang kedua Dewan Negeri Kelantan yang ke-12.

More financial support needed for O&G players

By Edy Sarif

Kencana Petroleum Bhd chief executive officer Datuk Mokhzani Tun Mahathir taking a tour around the barge, KM-1, fabricated by Kencana HL Sdn Bhd at its fabrication yard in Lumut yesterday

LUMUT: Kencana Petroleum Bhd hopes to see banks giving more financial support to local oil and gas (O&G) players so that they can become more competitive in the international market.

Group chief executive officer Datuk Mokhzani Mahathir said the oil and gas business remains robust industry despite the economic slowdown and that for local players to venture overseas, they would need financial support from banks.

Malaysian standard for palm oil

From left: Tan Sri Yusof Basiron hitting the gong to mark the opening of the conference. With him are Datuk Sabri Ahmad, MPOC council member Datuk Er Kok Leong and Bursa Malaysia CEO Datuk Yusli Mohamed Yusoff

KUALA LUMPUR: Malaysia wants to standardise the way palm oil’s impact on the environment is calculated, senior officials said yesterday, as it seeks to counter criticism that the industry fuels climate change.

Next year, the European Union (EU), a top biofuels consumer, will impose a target to only accept biodiesel that can reduce carbon dioxide emissions by at least 35% versus fossil fuel, which risks cutting out palm oil which the EU considers to save only 19%.

Importance of access to palm oil study raised

KUALA LUMPUR: The need for proper data compilation for the life cycle assessment (LCA) study on palm oil production to counter outdated and misleading data from Western countries used in the calculation of palm oil greenhouse gas (GHG) emissions was highlighted at a palm oil conference here yesterday.

The setting up of a special LCA task force on palm oil was also a key point at the Malaysian Palm Oil Council (MPOC) International Palm Oil LCA Conference.

Rush for GHG emission plan creates uproar in RSPO

by Hanim Adnan

THE integrity of the Roundtable on Sustainable Palm Oil (RSPO) has been heavily questioned following its recent decision to adopt the Greenhouse Gas (GHG) emission draft into the grouping’s existing principles and criteria (P&C), as well as its backing for a proposed ban on peat-soil land development for oil palm cultivation.

The proposals, which are scheduled for tabling at the RSPO 6th AGM in Kuala Lumpur next month, have created an uproar among RSPO stakeholders, especially oil palm planters in Malaysia and Indonesia.

Low take up for B5 Biodiesel

KUALA LUMPUR: The implementation of the B5 biodiesel programme in the country is still at the early stage, according to Malaysian Palm Oil Council chairman Tan Sri Dr Yusof Basiron.

“We are only at the first stage of this programme and so far, there are no complaints from government departments that use B5 biodiesel for their vehicles.

“This means the programme is performing well,” he said at the International Palm Oil Life Cycle Assessment Conference.

The B5 programme, which calls for a 5% blend of palm methyl ester with diesel for government vehicles, started in February and was reported to have a low take-up rate.

Government departments involved in this programme include Defence Ministry, Selangor’s Public Works Department and Kuala Lumpur City Hall.

Total, Petronas may return to Iran

source: e-CASB

After several months of hiatus as a result of Total”s wavering, officials from the company have resumed talks with the National Iranian Gas Export Company in Tehran to rejoin the project.

The Pars LNG project has plans to develop production of 1.8 billion cubic feet per day of natural gas from the South Pars field”s Phase 11 and process it into LNG through the construction of a two-train integrated liquefaction plant with a total LNG production capacity of 10 million tons per year.

Total agreed to take on the Pars LNG project in February 2004, with an initial start date of 2009 that has since been pushed back to 2011 after years of wrangling over terms.

Total was also supposed to carry out the development project of the phase 11th of the South Pars gas field but National Iranian Oil Company (NIOC) and China National Petroleum Corp. (CNPC) signed a 5-billion-dollar contract in Beijing on June 3 for the development of the phase.

Petronas buys 2.3% in Cairn India for $240 mln

By Team VCC (VCCircle.com)

With this move, Petronas’ stake in Cairn India jumps to 14.94%, within touching distance of an open offer trigger.

UK-based oil and gas exploration major Cairn Energy Plc has mopped up $240 million by selling 2.3% in its Indian subsidiary Cairn India to Malaysia’s Petronas International Corporation Ltd.

With this move, Petronas’ stake in Cairn India jumps to 14.94%, within touching distance of an open offer trigger. Cairn UK now retains a 62.75% interest in Cairn India, which made a major oil discovery (Mangala) in Rajasthan in the north west of India in 2004.

Cairn India, the Indian arm of the UK firm, has interests in a total of 13 acreage blocks in India and Sri Lanka.

The UK-based firm will use the proceeds to invest in its exploration projects in Greenland. In a parallel move, Cairn, the UK-based oil and gas exploration major, has agreed to sell 10% in its six operated blocks offshore Greenland to Petronas in a transaction valued at $70 million.

TNB rancang bina empangan hidroelektrik baru

KUALA TERENGGANU, 11 Okt (Bernama) — Tenaga Nasional Berhad (TNB) merancang membina dua empangan hidroelektrik baru, masing-masing sebuah di Hulu Terengganu, Terengganu dan Hulu Jelai di Pahang.

Naib Presiden (Sumber Manusia) TNB Muhammad Razif Abdul Rahman berkata, empangan hidroelektrik yang akan dibina di Hulu Terengganu itu terletak di kawasan Sungai Tembat dan Sungai Puah dengan kapasiti 250 megawatt manakala empangan yang akan dibina di Hulu Jelai dengan kapasiti 372 megawatt.

Sabah power plant: coal or coral?

source: Daily Express

Kota Kinabalu: Sabah Environmental Protection Society (Sepa) Wednesday expressed grave concern over Tenaga Nasional Berhad’s (TNB) plan to build the controversial coal-fired power plant at a “totally pristine” wilderness coastline in Dent Peninsula.

“From our recent field visit, we understand that Kampung Sinakut, just a stone’s throw (one kilometre or so) from Sahabat Resort, is the proposed site for the 300MW plant.

“Kg Sinakut is part of a totally pristine coastline 40km long, stretching between Tunku and Dent Heaven around the eastern-most tip of Dent Peninsula,” said its President Wong Tack.

The controversial Sabah coal fired power plant…

Source: Daily Express

The public will be invited to present their views on the setting up of a 300MW coal-fired power plant in Felda Sahabat in Lahad Datu early next year. Sabah Electricity Sdn Bhd (SESB) Managing Director, Baharin Din, said this would be done during the first three months of 2010 for the purpose of the Environmental Impact Assessment (EIA) report.

Met at the SESB Hari Raya Open House Tuesday, he said works to complete the EIA report were being carried out.

“The due process is that we want to ensure that we do not miss anything,” he said.

As announced by Prime Minister Datuk Seri Najib Tun Razak recently, he said the construction of the plant would commence with initial work first.

Omar Ong: Najib will face the wrath of PETRONAS Board and employees

source: Malaysian Insider

KUALA LUMPUR, Sept 29 – The Prime Minister has won the battle of wills with the Petronas board of directors over the appointment of his confidant to the board.

After being rebuffed by the board over the suitability of Omar Mustapa as a director on the grounds of an unpaid scholarship, Datuk Seri Najib Tun Razak wielded his power and ended the stalemate recently.

Under the Petroleum Development Act the PM has absolute discretion to appoint anyone to the board of directors. In May, he informed the board that he wished to nominate Omar – a former staff member when Najib was DPM and now key strategist.

Omar Ong: once a Petronas scholarship defaulter, now a Board member!

source: NST

PETALING JAYA: Omar Mustapha Ong (pic) of Ethos & Co has received his letter from Prime Minister Datuk Seri Najib Tun Razak to join Petroliam Nasional Bhd (Petronas) as independent, non-executive director.

It is learnt that he will be attending his first board meeting possibly today.This ends months of speculation and controversial reports over his appointment which has drawn flak from the current board members of Petronas and even former prime minister Tun Mahathir Mohamad.

In the midst of all the contentious reports, Omar’s previous unpaid (which he subsequently paid) Petronas scholarship and non-completion of the number of years of service required, was highlighted.

Omar appointed to Petronas board

source: Malay Mail

OXFORD-trained Omar Ong, the controversial boss of Ethos & Company, has been appointed to the board of Petronas as a director, ending months of speculation.

The appointment letter was given to Omar, 38, just before Hari Raya, sources said.

The Malay Mail’s source in Petronas could not give an official confirmation on the appointment but said the national oil corporation would make the announcement very soon.

Omar, a former aide to Datuk Seri Najib Razak when he was the Deputy Prime Minister and whose views and ideas are valued by him, had been rumoured to rejoin Petronas at the Board of Directors’ level sometime middle of this year.

Murphy starts supplying natural gas to Petronas complex

source: Business Times

US-BASED Murphy Oil Corp has started supplying up to 250 million cu ft per day (mmcfpd) of natural gas to Petroliam Nasional Bhd’s (Petronas) liquefied natural gas (LNG) complex in Bintulu, Sarawak.

It will be sourced from the natural gas fields in Blocks SK 309 and SK 311 offshore Sarawak, which began production last Thursday.

Murphy Sarawak Oil Co Ltd, a unit of Murphy, operates the development and maintains 85 per cent working interest in the discovery fields, with Petronas Carigali Sdn Bhd holding the balance.

The contract terms call for the development to supply 250 mmcfpd of natural gas for five years, with a provision to supply up to 350 mmcfpd for an additional 10 years.

PETRONAS, be careful with the high octane chase!

by Abd Ghani Hamat

When the current MotoGP season began in Qatar on April 12, it was a bit of a surprise to see the prominence of the Petronas branding on the new Fiat Yamaha Team livery.

Fast forward. With four races left on the calendar and both the constructors and riders titles all but won, who would argue about the wisdom of Petronas’ decision to back Valentino Rossi, arguably the best rider ever, and every pundit’s future champion Jorge Lorenzo?

Petronas has backed the right team and is getting its money’s worth of television exposure.

Beyond worldwide co-branding exposure, their partnership, according to Yamaha, could lead to an extension of their existing business relationship in Malaysia into the Southeast Asian region, for the development and production of Yamalube engine oil for Yamaha OEM vehicles.

PETRONAS to fuel Lotus F1 team

By Lee Wei Lian

SINGAPORE, Sept 27 — As widely expected, the 1 Malaysia F1 team has started sponsorship talks with national oil company Petronas apart from looking into jointly developing a line of engine oils and lubricants.

Team principal Datuk Seri Tony Fernandes confirmed this although stressing that the motor racing team called Lotus F1 by the FIA remains a private venture.

“We would love Petronas to sponsor us,” Fernandes told reporters at the sidelines of the Singapore F1 Grand Prix.

The aviation tycoon who turned around Air Asia into a successful budget airline has hit back at critics of his Lotus F1 Team project saying that and it will be privately funded and there will be no government equity involved nor any government funding.

Petronas renegotiates with Indonesia on Natuna gas price

source: Jakarta Post

Malaysia’s oil and gas producer Petronas has agreed to renegotiate a deal for the purchase of gas output from a block located in the Natuna Sea, following pressure from Indonesian lawmakers.

The lawmakers said the deal, signed in 2002 between Petronas and block operator ConnocoPhillips under the consent of the Indoensian government, was based on a pricing mechanism that was no longer applicable and which could inflict losses on Indonesia.

Under the contract, ConocoPhillips was to export natural gas from the block to the Petronas’s Duyong gas complex for 20 years. The export began in 2002, with a first year’s delivery of 38.5 billion British thermal units per day (bbtud). The annual volume rose to 209 bbtud by last year.

Sauber saved by Swiss-Qatari fund

Just hours after the FIA announced that the team did not have a guaranteed slot on the 2010 grid BMW has confirmed that the Sauber team has been sold.

The buyers are the mysterious Qadbak Investments, a Swiss-based fund that is backed by money from Qatar, including it is believed from the royal family. Qadbak’s highest profile involvement thus far is in British soccer club Notts County.

The news that the team has been saved makes BMW’s decision not to sign the new Concorde Agreement look even more foolhardy, because to get onto the grid next year it is now relying on someone else not making it or the FIA being able to change to rules to allow a 14th team.

Lotus back to F1, Sauber missed out

source: Eurosports

Lotus, one of the most successful and glorious names from Formula One’s past, will return next year with a Malaysian-owned team replacing BMW-Sauber as the 13th entry on the starting grid.

The governing FIA said that, after due diligence and an intensive selection process, it had chosen Lotus.

The new outfit will be called Lotus F1 Team and is a partnership between the Malaysian government and a consortium of Malaysian entrepreneurs.

“The cars will be made in Malaysia, by Malaysians,” the Malaysian government said.

The vacancy arose after BMW announced that they were withdrawing at the end of the season, following a path already trodden by Japan’s Honda.

PETRONAS starts drilling first oil well in Ugaden, Ethiopia

Source: Reporter

Addis Ababa, September 14, 2009 — The Malaysian oil and gas giant, Petronas, started drilling two weeks ago the first wildcat well in the Ogaden basin in the Genale block.

Petronas has hired a British oil exploration company, Weather Ford, based in Dubai. Weather Ford is contracted by Petronas to conduct seismic survey and to drill an exploration well in the Ogaden basin. The exploration well is 3000 meters deep. It will take Weather Ford two and half months to finalize the drilling.  The Genale block is one of the promising areas for oil discoveries in the Ogaden basin.

UMW, Petronas Re-negotiate Naga-2 deal

source: Bernama

UMW Holdings Bhd and Petronas Carigali Sdn Bhd are said to be re-negotiating the US$170 million (RM602 million)  Naga 2 rig deal and a decision is expected to be announced soon.

“Intense negotiations are going on,” said a source to the deal.

The rig contract, which was awarded by PCPP Operating Company, 40% owned by Petronas Carigali, has been terminated.

Low demand, high CPO price lagging biodiesel production

by Shannen Wong

PETALING JAYA: Biodiesel production has slowed significantly since early this year as demand falls amid the economic slowdown and as the price of crude palm oil (CPO) continues to stay higher than that of crude oil.

Crude oil was trading at US$60 per barrel, equivalent to US$440 per tonne, while CPO at RM2,100 per tonne was equivalent to US$587.

“There’s no ideal CPO price amid the current crude oil price but it should be lower than crude oil,” an analyst with a local research house told StarBiz.

KNM, Kencana may gain from Merapoh refinery

source: Bloomberg

KNM Group Bhd, Malaysia’s largest oil and gas contractor, and rivals Kencana Petroleum Bhd and Dialog Group Bhd may benefit from a planned US$10 billion refinery in Malaysia, HwangDBS Vickers Research Sdn Bhd said.

The companies might take part in the development, “considering their track record” on similar industry contracts, HwangDBS said in a report today. HwangDBS kept a “buy” call on KNM with a price target of RM1.10.

Merapoh in talks with Middle East crude oil supplier

Bumi Armada to bid for Petronas contracts

by: Zazali Musa

SINGAPORE: Bumi Armada Bhd, a subsidiary of Usaha Tegas group, will submit its bid soon for offshore service and transport contracts to be awarded by Petroliam Nasional Bhd (Petronas).

Executive director and chief executive officer Hassan Basma said the Petronas job was a big target for the company.

TNB: Tarif elektrik naik jika harga gas naik

sumber: Bernama

KUALA LUMPUR: Kenaikan tarif elektrik hanya akan dilaksanakan sekiranya kerajaan menaikkan harga gas, kata Presiden/Ketua Pegawai Eksekutif Tenaga Nasional Bhd, Datuk Seri Che Khalib Mohamad Noh, hari ini.

“Bagi TNB, apabila harga gas dinaikkan, TNB perlu buat penyelarasan kepada tarif kerana kita perlu mengambil kira naik turunnya harga gas.

“Kalau harga gas naik, maka tarif elektrik akan dinaikkan untuk menampung harga gas yang lebih tinggi,” katanya kepada pemberita ketika ditemui pada Hari Keluarga TNB peringkat ibu pejabat, di sini hari ini.

Making sense of Merapoh’s oil refinery project in Yan

by Cecelia Kok

IN times of economic slowdown, it is always refreshing to hear news of large investments taking place in the local economy.

Hence, when Merapoh Resources Corp Sdn Bhd announced over the week that it had secured investments to build a US$10bil (RM35bil) crude oil refinery facility in Yan, Kedah, a sense of excitement was stirred up in the market, particularly for the oil and gas sector.

More expensive than the Bakun hydroelectric dam project in Sarawak (not of the same industry), the proposed oil refinery project by private company Merapoh definitely qualifies as another mega project for the country.

Malaysia is ready for nuclear energy

source: NST

KUALA LUMPUR: Not many people realise that Malaysia entered the nuclear era at 5pm on June 28, 1982.

This was the day the Triga research reactor in Bangi reached critical mass (when the nuclear reaction is self-sustaining), Universiti Kebangsaan Malaysia Prof Datuk Dr Sukiman Sarman said.

He said this during a briefing outlining the country’s nuclear technology development and the university’s contribution for a delegation from the International Atomic Energy Agency recently.

Solar power for Orang Asli homes

source: NST

GRIK: Five Orang Asli villages will no longer be in darkness at night.

The Sultan of Perak, Sultan Azlan Shah, launched the state’s first hybrid solar system on Thursday which will benefit the residents of Kampung Melela, Kampung Sungai Tengah, Kampung Sarok, Kampung Nangka and Kampung Untung.

The construction of two hybrid solar stations at Kampung Melela and Kampung Sungai Tengah respectively were completed at a cost of RM4.7 million last July.

Local leader Uda Busu said Orang Asli in the villages were grateful to Tenaga Nasional Berhad for exercising its social responsibilty in ensuring 24- hour power supply.

Highest electricity rebate goes to Selangor

source: NST

SABAK BERNAM, Sun: Selangor has emerged as the state that gets the highest electricity rebate in the country – to the tune of RM12.9 million for bills of RM20 and below since Oct 2008 till May this year, said Deputy Minister for Energy, Green Technology and Water, Noriah Kasnon.

She said during the period 1,204,741 Tenaga Nasional Bhd (TNB) customers received the rebate that was introduced in the 2009 Budget.

PETRONAS is at 17th place in Energy Intelligence Top 100 Oil Company 2009

Malaysian power tariffs set to rise

source: Reuters

KUALA LUMPUR, July 17 (Reuters) – Malaysian electricity tariffs will be raised as the government looks to cut subsidies on fuel prices, a newspaper reported on Friday, quoting a minister.

“Fuel price movements are the main factors for the electricity tariff revision,” Energy Minister Peter Chin was quoted as saying in the Business Times newspaper.

He did not say when the increase in tariffs would take place.

Much of the electricity generated in Malaysia uses natural gas subsidised by the government.

National power company Tenaga Nasional (TENA.KL: Quote) had submitted a proposal for a tariff review to the government at the end of April.

The review in electricity tariffs was due this month but was postponed.

Malaysian-driven energy for Cambodia coastal town

source: Cambodia News

HANOI, July 13 — Malaysia’s Leader Universal Holdings Bhd will invest US$160 million (RM560 million) in a new coal-fired power plant in Sihanoukville, Cambodia, to meet the local increasing demand for electricity, Vietnam News Agency (VNA) reported.

Presently, the capacity of all power plants in the Southeast Asian nation is only around 410MW while the demand is estimated at 808MW, according to the local state-owned power company, “Electricite du Cambodge”.

Sabah: Ample political power, abysmal electrical power

source: Bernama

KOTA KINABALU,  July 11 – Sabah, dubbed a ‘fixed deposit’ for the Barisan Nasional (BN), has managed to bring its political power problems very much under control.

But, even as it becomes a steady power base for Barisan Nasional, the government has not been able to resolve the state’s decades-old power supply problem.

The frequent electricity outages have not only became a constant butt of jokes amongst locals and visitors, but more importantly, it has affected investment opportunities in the state, as infrastructures and facilities are some of the vital factors for businesses to consider.

“It seems there is no end to the power supply problem in Sabah. We have frequent power interruptions everywhere. We need ‘political will’ to overcome this problem.

SESB displays its Low-Energy Office

source: Daily Express

Kota Kinabalu: Sabah Electricity (SESB) has set up a Low Energy Office (LEO) using solar power in support of the on-going national energy saving campaign.

Under the national energy campaign the government is urging people to save electricity, and use less or alternative power supply especially in offices. The LEO project led by central zone operation distribution (KPKK) manager, Willie Wong, aims to test the efficiency of solar energy usage as a natural energy source.

Tawau Has Potential For Geothermal Power

source: Bernama

TAWAU, July 17 (Bernama) — Tawau has potential to generate electricity from geothermal sources following the discovery of a geothermal site in Apas, about 40km from here.

Deputy Natural Resources and Environment Minister Tan Sri Joseph Kurup said a study by the Mineral and Geoscience Department so far had found that there was potential to generate up to 67MW of electricity a day to meet the energy needs of Tawau.

CNPC and Aramco may buy into Merapoh refinery in 2013

KUALA LUMPUR: China National Petroleum Company (CNPC) and Saudi Aramco may take a strategic stake in Merapoh Resources Corporation Sdn Bhd (MRCSB), which will own the country’s largest refinery with a capacity of 350,000 barrels per day (bpd).

MRCSB executive chairman Mohd Nazri Ramli said the equity participation by the two state-owned oil giants is understandable considering that CNPC will be a major client of the refinery and Aramco will be its main feedstock supplier.

However, the acquisition by CNPC and Aramco would only take place when the 350,000bpd-refining facilities are up and running by 2013, said Nazri.

Lenstar keen on US$8b refinery and complex in Malaysia

source: The Edge

KUALA LUMPUR: Soon after announcing the start of work on its US$800 million (RM2.87 billion) oil storage terminal and marine facilities in Gurun, Kedah, Lenstar Investments Ltd is now looking at the possibility of constructing a petroleum refinery and petrochemical complex in Malaysia with total investment of up to US$8 billion.

According to the United Kingdom-based investment holding company’s managing director, Mohammad Munir Malik, the company will start conducting feasibility studies in Melaka and Perak, and is even looking at Sabah and Sarawak as possible location for the facilities.

Merapoh’s US$10b refinery may get 50% funding from foreign banks

by Issabelle Francis

KUALA LUMPUR: Merapoh Resources Corporation Sdn Bhd, owned by a team of professionals from the petroleum industry, is close to securing funding for its proposed, US$10 billion (RM35.9 billion) crude oil refinery in Yan, Kedah.

It is believed that Merill Lynch (Singapore) has been sought to lead manage the international financing for almost half the project cost. No details on the mode or structure of the financing are available at this moment.

Pusat penapisan minyak, prospek besar kepada ekonomi Kedah – MB

oleh: Wan Nordin Wan Yaacob

KUALA LUMPUR,15 Julai (Hrkh)- Bertempat di Hotel Nikko, kerajaan negeri Kedah telah memeterai perjanjian kerjasama (MOU) dengan Merapoh Resources Corporations bagi membangunkan projek penapisan petrokimia yang dinamakan Kedah Sungai Limau Hydrocarbon Hub (SULIHH).

Perjanjian bernilai RM35 bilion ini dimeterai antara Merapoh Resources Corporation dengan kerajaan Kedah bersama pelabur-pelabur antaranya Hong Kong Beijing Star Ltd dan Winson Invesment Ltd.

Malaysia’s Merapoh to sign MOU to build $10 bil refinery in Kedah

Source: Platts

Malaysia’s privately held Merapoh Resources Corp will sign Wednesday a memorandum of understanding with the Kedah state government and an engineering, procurement, construction and commissioning master agreement with contractor SK Engineering for a proposed $10 billion refinery in Yan, Kedah, a Merapoh official said late Tuesday.

The refinery, to be located in Sungai Limau Hydrocarbon Hub in the country’s northern state of Kedah and part of the government’s Northern Corridor Economic Region initiative, is expected to have a designed crude oil processing capability of 350,000 b/d and scheduled to be operational in 2013.

TNB should opt for gas-powered plant: SAPP

source: Daily Express

Kota Kinabalu: Tenaga Nasional Berhad (TNB) should consider building gas-powered power plants so as to address the decades-long energy problems all over the State, said Sabah Progressive Party (SAPP).

Gas-fired powered plants is the best option to overcome the perennial problems, as it is eco-friendly and cheap, said SAPP Information Chief Chong Pit Fah.

Power thieves rob SESB RM3 million annually

source: New Sabah Times

KOTA KINABALU: Sabah Electricity Sdn Bhd (SESB) incurs over RM3 million loss in revenue a year due to rampant power theft incident by squatters throughout the state.

The loss is estimated based on the number of houses located in the 51 squatter colonies that the company has identified to be benefitting from electricity by making illegal connection to its power source.

SESB distribution general manager Ahmad Fuad Md Kasim said each of the colonies would have 200 to 250 illegal structures, and each house would consume 2kw of energy.

Taiwan’s CPC to extend LNG supply from Malaysia and Qatar

source: Upstream Online

Taiwan’s only liquefied natural gas importer CPC Corporation is in talks with Qatar on a second long-term contract and expects to extend its agreement with Malaysia to secure the island’s energy supplies.

The company has secured “enough supplies” to replace expiring agreements, CPC President Chu Shao-hua said in an interview yesterday after a ceremony marking the opening of CPC’s Taichung terminal, which will boost the island’s capacity to handle LNG cargoes by 40%.

Ras Laffan Liquefied Natural Gas Company, a Qatari joint venture with ExxonMobil , started supplying LNG to CPC in 2008 under a 25-year contract for as much as 3 million tonnes per year. The Taiwanese refiner also aims to complete talks with an ExxonMobil-led venture this year to buy LNG from Papua New Guinea, Chu said.

Petronas loses out in Iraq, wins Indonesia

by Alfean Hardy

PETROLIAM Nasional Bhd (Petronas), which had been bidding for the right to develop two Iraqi oil fields together
with other oil majors, has failed to secure either and is not the only loser in what is being seen as a major blow to the Iraqi government in its efforts oil output to four million barrels of oil per day (bpd) from 2.4 million bpd currently.

Iraq is looking to increase production from more than 60% ofthe six oil and two gas fields it had been offering to foreign 0il companies in order to potentially generate more than RM5.98 trillion over 20 years.

LNG exports slump, gas demand down

source: Bloomberg

Malaysia, the world’s second-biggest exporter of liquefied natural gas, supplied fewer cargoes in the first five months of this year as the global recession curbed demand for the cleaner-burning fuel.

Shipments of LNG, the nation’s third-largest export commodity, dropped 5.3 per cent from a year earlier to 9.4 million metric tons between January and May, the Department of Statistics said on its Web site. The value of LNG shipments rose 13 per cent to RM15.3 billion (US$4.26 billion).

Royalti minyak: Kelantan mahu temui Perdana Menteri

Oleh NURUL AIN MOHD. HUSSAIN

KUALA KRAI: Exco Kerajaan Negeri Kelantan, Datuk Husam Musa berkata kerajaan negeri itu akan terus mendesak kerajaan pusat segera menyelesaikan isu royalti minyak yang dituntut.

Beliau yang juga Pengerusi Jawatankuasa Perancangan Ekonomi dan Kebajikan negeri berkata, Menteri Besar, Datuk Nik Abdul Aziz Nik Mat telah menulis surat kepada Perdana Menteri, Datuk Seri Mohd Najib Tun Razak untuk mengadakan perbincangan mengenai isu tersebut.

Vastalux: We’ve not been blacklisted by Petronas

source: Business Times

VASTALUX Energy Bhd (7251), an integrated oil and gas supporting services provider, squashed rumours that it was being blacklisted by Petroleum Nasional Bhd (Petronas) for failure to perform on contracts awarded by the company.

Speculation has been rife that Petronas may blacklist Vastalux and revoke some contracts offered to the company.

These include hook-up and commissioning contracts and topside major maintenance for Petronas Carigali Sdn Bhd.

Isu royalti minyak lagi

oleh: Lan Jusoh

KUALA KRAI, 11 Julai (Hrkh) – Nampaknya pemimpin Umno sah terperangkap dengan isu royalti apabila cuba mengalihkan pula kepada Petronas bagi menjelaskan keadaan sebenar kepada rakyat Kelantan.

Petronas seakan-akan menjadi kambing hitam memikul tanggungjawab tersebut. Sedangkan segala keputusan terpikul di atas bahu Perdana Menteri.

Royalti terus bergegar di Manek Urai

oleh: Mohd Zuharman

KUALA KRAI, 12 Julai — Isu tuntutan royalti minyak kerajaan negeri Kelantan, PAS terus bertegas menuntut ia wajar diperjelaskan secara terbuka melalui forum menampilkan tiga pihak terbabit iaitu Petronas, wakil kerajaan Persekutuan dan kerajaan negeri.

Hassan Merican is internationally recognized for his integrity

source:  Ethisphere

“Marican sits on the board of a few socially minded groups, including The Commonwealth Business Council and the World Economic Forum’s Partnering Against Corruption Initiative (PACI). He is one of three business people on PACI’s board, and the only board member from the Far East- helping to move the anti-corruption debate from only western corporations and proactively engage those from the Far East as well.”

Uzbekistan, Malaysia start gas project for US$500m

source: Uzbekistan Daily

Tashkent, Uzbekistan (UzDaily.com) — The Uzbek President Islam Karimov approved mechanism on realization of works on agreement on product-sharing agreement in relation to the Urga, Kuanish and Akchalak deposit groups in Ustyurt region of Uzbekistan.

The mechanism was developed within the agreement on product-sharing agreement in relation to the Urga, Kuanish and Akchalak deposit groups between Uzbekneftegaz and PETRONAS Carigali Overseas Sdn. Bhd.

Petronas CEO faces political heat

source: Upstreamonline

Petronas’ chief executive faces the risk of being ousted from the Malaysian state oil and gas company following a political wrangle involving the country’s Prime Minister.

Allegations have been made that Hassan Marican privately led a revolt against the appointment of a key aide of Prime Minister Najib Razak as a director of Petronas.

Internal Combustion – The book that unveils oil conspiracies

Introduction

When I conceived Internal Combustion, I focused on one concept. It was not our dwindling energy supply and the oil crisis that intensifies each day. Look around. We all know this. It was not the need to rescue our rivers and bloodstreams, as well as our planet, from the toxic fruits of our industrial addiction to petroleum. Listen to the nightly news or pick up the morning newspaper. We all know this. It was not to futurize and fascinate with distant alternatives. The Internet and pop media are filled with enticing promises of a future technology that will be clean and renewable.

Petronas won Cameroon oil & gas exploration bid

source: Reuters

Yaounde, July7 – Malaysia’s Petronas and US company Noble Energy have signed a $119-million oil and gas exploration deal with Cameroon’s state oil firm, the Cameroonian company said on Tuesday.

The seven-year contract covers an area off the West African country’s main port of Douala which has estimated reserves of 40-million to 70 million barrels of oil, Cameroon’s National Hydrocarbon Company (SNH) said in a statement.

Will ‘Political Will’ End Power Supply Woes In Sabah?

by Kristy Inus

KOTA KINABALU, July 11 (Bernama) — Sabah, dubbed a ‘fixed deposit’ for the Barisan Nasional (BN), has managed to bring its political power problems very much under control. Its power supply however, remains a major perennial problem.

The power problem has not only became a constant butt of jokes amongst locals and visitors, but more importantly, it has affected investment opportunities in the state, as infrastructures and facilities are some of the vital factors for businesses to consider.

Salahuddin Ayub – Ke mana dibelanja RM254 billion hasil Petronas?

sumber: Harakah

KUALA KRAI, 11 Julai – Kerajaan perlu menyediakan kertas putih untuk menjelaskan kepada Dewan Rakyat ke mana perbelanjaan wang Petronas berjumlah RM245 bilion sejak 2004 di bawah dua era perdana menteri.

Naib Presiden PAS, Salahuddin Ayub berkata, kertas putih tersebut perlu disediakan kerajaan bagi menjelaskan kepada rakyat ke mana wang milik Petronas yang dibelanjakan kerajaan.

“PAS mendesak kerajaan menyediakan kertas putih mengenai jumlah royalti minyak tersebut. Dalam masa terdekat saya akan berjumpa dengan Datuk Seri Najib Razak dan menyerah dokumen kepadanya.

PAS wants forum to explain Kelantan oil royalty issue

source: Bernama

KUALA KRAI, July 10 – PAS today proposed that the issue of the RM1 billion oil royalty demanded by the Kelantan government be explained in a forum with representatives from Petronas as well as the federal and state governments as members of the panel.

Kelantan PAS election director Abdul Fattah Harun said the forum, with participation from the three relevant parties, would be seen to be more fair to the Kelantan government.

He said if the explanation only came from Petronas, the perception would be that it would be from the government’s point of view and any other matters arising from the issue would not be addressed.

Shell to sell RON 95 in September

source: The Star

PETALING JAYA: RON 95 fuel will be available at all Shell stations by September.

The company said in a statement yesterday that it would only be available at the Alisha Shell station on the Klang-bound side of the Federal Highway at Batu Tiga. It would be marketed as Shell Unleaded 95.

Shell Malaysia Trading Bhd managing director Datuk Mohzani Abdul Wahab said the company would carry out public awareness on the new fuel. Users would also be educated on ways to optimise their fuel consumption, he added.

“Our customers can be assured that this new fuel continues to deliver on Shell’s fuel quality promise and complements our aspiration of helping our customers get the most out of every drop,” Mohzani said.

Kelantan has not right to oil royalty – Rais

source: BERNAMA

KUALA KRAI:The facts of the oil royalty issue raised by PAS should be clearly explained by the relevant agencies to avoid confusion among voters in Manik Urai over the issue, said Information Communication and Culture Minister Datuk Seri Dr Rais Yatim.

Rais, who is also an Umno Supreme Council member, said this was also to prevent the issue from being used as political capital (by the opposition) during an election campaign to win votes.

Dr M: Where did Petronas money go?

source: The Malaysian Insider

KUALA LUMPUR, July 3 — Petronas adviser Tun Dr Mahathir Mohamad today asked what did the government spend with the RM253.6 billion payment from the national oil company over the past six years when his successor Tun Abdullah Ahmad Badawi was prime minister.

The former prime minister, a trenchant critic of Abdullah, wrote in his http://www.chedet.cc weblog that Petronas has been paying dividends, taxes, royalty and export duties to the government since 1976, after it was set up as the national custodian for fossil fuels.

Husam takes oil royalty on campaign trail

By Shannon Teoh

KUALA KRAI, July 9 — State executive councillor Datuk Husam Musa is determined to convince Manek Urai voters that Kelantan is owed up to RM1.7 billion in oil royalty by the Barisan Nasional federal government.

At a ceramah here two nights ago, he said the PAS state government had found an agreement from 1975 with Petronas which accorded it a 5 per cent royalty in exchange for the rights to all fossil fuel in the state.

Petronas, Shell may sell fuels in Indonesia

source: Business Times

Malaysia’s Petroliam Nasional Bhd and Royal Dutch Shell Plc may bid to distribute subsidised gasoline, kerosene and diesel in Indonesia next year after losing out to PT Pertamina for this year’s sales.

Petronas, Trafigura May Invest in Vietnam Refinery

source: Vietnam Business News

Viet Nam Oil & Gas Group, known as PetroVietnam, is in talks with Malaysia’s Petroliam Nasional Bhd. and Singapore’s Trafigura Co. to build the country’s third oil refinery.

Abu Dhabi’s International Petroleum Investment Co. is also in talks with PetroVietnam about investing in the refinery in southern Vietnam. PetroVietnam has started construction of the country’s second refinery in the northern province of Thanh Hoa.

The Southeast Asian nation’s first refinery, in Dung Quat Bay in central Viet Nam, started production in February.

Kelantan claims existence of oil royalty agreement

source: The Edge

KUALA KRAI: The Kelantan government claims that there is an agreement to show that the Federal government is liable to pay the state oil royalty if oil and gas are found on or off its shores.

Speaking at a ceramah in Chuchoh Puteri on Tuesday night, Kelantan senior exco member Datuk Husam Musa said the agreement was signed on May 9, 1975 by the then Menteri Besar Datuk Mohd Nasir and Tengku Razaleigh Hamzah, who was Petroliam Nasional chairman.

He said Tun Salleh Abbas had met with Kelantan Menteri Besar Datuk Nik Aziz Nik Mat and him (Husam) on Tuesday to explain the background to the agreement. Tun Salleh was the person responsible in drafting the agreement as he was the Attorney General then.