Sudan Keen On More Investment From Petronas

•November 4, 2009 • Leave a Comment

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.

Continue reading ‘Sudan Keen On More Investment From Petronas’

K’tan timbang tolak p’janjian Petronas

•November 4, 2009 • Leave a Comment

Kelantan oilKerajaan 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. Continue reading ‘K’tan timbang tolak p’janjian Petronas’

KNM gets RM155m orders

•October 30, 2009 • Leave a Comment

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

•October 30, 2009 • Leave a Comment

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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. Continue reading ‘KNM may win up to RM500m jobs after Verwater deal’

Santos, Petronas Unveil Apprenticeship and Training Plan for GLNG

•October 30, 2009 • 1 Comment

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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. Continue reading ‘Santos, Petronas Unveil Apprenticeship and Training Plan for GLNG’

Petronas faces additional RM4b tax yearly

•October 30, 2009 • Leave a Comment

source: Business Times

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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. Continue reading ‘Petronas faces additional RM4b tax yearly’

Siemens Malaysia Keen To Take Part In Bakun Project

•October 29, 2009 • Leave a Comment
Location of Bakun Dam, Malaysia

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. Continue reading ‘Siemens Malaysia Keen To Take Part In Bakun Project’