Sunday, June 16, 2019

Malaysia News

Australia Dominates China's LNG Supply

Offshore Australia: Shell’s Prelude floating liquefied natural gas (FLNG) facility delivered its first LNG cargo earlier this week. Pictured is the Prelude FLNG facility, with the Valencia Knutsen berthed side-by-side (Photo: Shell)

Australia's fast-expanding liquefied natural gas industry has this year been supplying the lion's share of China's growing demand for imports of the commodity, with appetite surging as Beijing shifts away from dirtier fuels such as coal.Australia supplied over 53% of China's LNG imports during the first five months of 2019, shipping data in Refinitiv showed, up from around 40% in 2016 when a previous round of new Australian export projects started to ramp up.With Royal Dutch Shell's Prelude facility delivering its first LNG cargo this week from northwest Australia…

Renewable Energy Brings 11 Million Jobs

Image: IRENA

According to the International Renewable Energy Agency (IRENA) eleven million people were employed in renewable energy worldwide in 2018. This compares with 10.3 million in 2017.As more and more countries manufacture, trade and install renewable energy technologies, the latest Renewable Energy and Jobs – Annual Review finds that renewables jobs grew to their highest level despite slower growth in key renewable energy markets including China.The diversification of the renewable energy supply chain is changing the sector’s geographic footprint.

Asian Renewables Investment on the Rise

© Gasdruckfeder / Adobe Stock

Renewable energy investment in the Asia-Pacific region will overtake spending on oil and gas exploration by 2020, consultancy Rystad Energy said on Monday.Total capital expenditure in renewables will rise above $30 billion in the region by 2020, just overtaking investment into exploration and production for oil and natural gas, the consultancy said.India, Australia, Japan, Vietnam and South Korea will be the leading destinations for investment in Asia, according to Rystad.The company focuses on China separately and did not include the nation in this assessment.

Bumi Armada Profit Up 28.5% in Q1

Image: Bumi Armada

Malaysia's offshore oilfield services firm Bumi Armada announced that its first-quarter net profit jumped 28.5% on-year, mainly thanks to joint ventures, lower cost of sales, and lower distribution costs.Net profit for the January-March period climbed to 62.21 million ringgit ($14.86 million), compared with a 48.42 million in the same quarter a year ago, said a stock exchange announcement.However, its revenue fell by 18.1% to RM491.61mil from RM600.34mil a year ago. The compay said floating production and offloading (FPO) business reported lower revenue of RM425.6mil due to lower revenue from Armada TGT 1 FPSO…

Sabah-Sarawak Gas Pipeline Shit for Maintenance

Malaysia's state oil and gas company Petroliam Nasional Bhd said on Tuesday it has shut the Sabah-Sarawak gas pipeline that feeds gas to its liquefied natural gas (LNG) complex at Bintulu in the state of Sarawak as part of maintenance work.Operations will resume when the maintenance work is completed, said Petronas, as the company is popularly known, in a statement, without specifying how long works would take."LNG supply from Petronas LNG Complex is not impacted as any shortfall of gas supply from the Sabah-Sarawak gas pipeline shall be made up with the gas supply from other fields in offshore Sarawak during this per

FLNG Satu Achieves First LNG at Kebabangan

(Photo: Petronas)

Petronas has produced its first liquefied natural gas (LNG) from a floating LNG (FLNG) facility at the Kebabangan cluster field, 90 kilometers offshore the eastern state of Sabah, the Malaysian state-owned oil company announced on Tuesday.First gas from Kebabangan was introduced into the Petronas FLNG (PFLNG) Satu’s turret system via a 5-kilometer flexible pipeline on May 4, followed by three days of start-up activities that lead to production of the first LNG drop on May 7.Petronas said it expects the first LNG cargo delivery in June 2019.Operated by Kebabangan Petroleum Operating Company Sdn Bhd (KPOC)…

Petronas Expands LNG Supply

Image: Petronas

Malaysian oil and gas company Petroliam Nasional Berhad (Petronas) said that it is well-positioned to meet rising LNG demand and expands its flexible and innovative LNG solutions for existing and new markets."With its growing portfolio of LNG supply sources in Malaysia, Australia, Egypt and soon in Canada, Petronas is well-positioned to provide clean energy through its flexible and innovative LNG solutions to existing and new demand markets, as well as to emerging trading hubs," said a press statement…

Malaysia's 2nd FLNG May be Ready by Q1 2020

Wan Zulkiflee speaks at the LNG2019 conference in Shanghai (Photo: Petronas)

State-owned Petroliam Nasional Bhd, or Petronas, expects to have its second floating liquefied natural gas (LNG) facility in Malaysia ready by the first quarter of next year, its chief executive, Wan Zulkiflee, told the LNG2019 conference in Shanghai on Tuesday.Malaysia had said in October last year that the facility would be operational by July 2020.Petronas' first floating LNG (PFLNG) Satu is now moored in the Kebabangan cluster field, some 90 kilometers northwest of the Sabah state capital city of Kota Kinabalu, the company had said last month.(Reporting by Meng Meng and Andrew Galbraith; Writing by Jessica Jaganat

First Condensate Cargo Shipped from Prelude

Prelude FLNG (Photo: Shell)

Royal Dutch Shell on Monday said it had shipped the first condensate cargo from its Prelude floating liquefied natural gas (FLNG) project off northwestern Australia over the weekend."We can confirm that the first shipment of condensate has sailed from the Shell-operated Prelude FLNG facility.

Murphy Oil Sells Malaysian Assets

(Photo: TechnipFMC)

Murphy Oil Corp said on Thursday it is exiting Malaysia with the $2.13 billion sale of its oil and gas assets to a Thai company and will use the deal proceeds to pay down debt, buy back shares and fund potential deals in the United States.The buyer, PTT Exploration and Production Public Co Ltd, will also pay Murphy up to $100 million in bonus if certain exploration projects show results before October 2020, the company said.The deal follows moves by other U.S. oil majors to focus their investment and effort in high-yielding shale fields at home after U.S.

OPITO Names Asian Pacific VP

Hart Victor (Photo: OPITO)

OPITO, a global, not-for-profit skills body for the energy industry, has appointed Hart Victor in the role of vice president of strategy for the Asia Pacific region.Victor had previously spent more than a decade with National Oilwell Varco (NOV) as regional training manager for Asia where he supported the growth of the team from 50 to over 1,000 people, as well as establishing new safety training centers in the region.Victor, who will be based at the company’s office in Kuala Lumpur, Malaysia, will increase support to the region’s oil and gas sector through implementing OPITO standards and global qualifications…

Petronas Q4 Profit Skids 21%

© anekoho / Adobe Stock

Malaysian state oil firm Petronas said on Friday its fourth-quarter profit slid 21 percent as costs piled up, and warned it will have to chart a way through a volatile, challenging 2019 citing market uncertainties and geopolitical risks.Petronas, Malaysia's only Fortune 500 company, said October-December profit slipped to 14.3 billion Malaysian ringgit ($3.50 billion) from 18.2 billion ringgit in the same period a year earlier, hit by higher product costs, depreciation and amortisation of assets.The drop came despite a 13 percent jump in quarterly revenue to 69.9 billion ringgit…

Asia: Pertamina, Petronas Join Forces

Image: Petronas

Indonesian state-owned energy company PT Pertamina and Petroliam Nasional Berhad (Petronas) of Malaysia have signed a Memorandum of Understanding (MoU) to develop oil and gas business – upstream and downstream, not only in Indonesia or Malaysia but also in other countries.As per MoU, Pertamina will swap crude produced in its Malaysian fields of Kikeh, Kimanis and Kidurong with crude from Petronas' Indonesian fields of Jabung and Ketapang, said a Reuters report quoting Pertamina sources.Meanwhile…

Yinson, First E&P in $902 Mln FPSO Deal

Image: Yinson Holdings Berhad

Malaysia’s floating production storage and offloading (FPSO) operator Yinson and Nigerian oil company First Exploration & Petroleum Development Company Ltd (First E&P) have executed a contract for an FPSO to be deployed offshore Nigeria.The contracts worth $901.79 million were entered into via its wholly-owned subsidiary Yinson Nepeta Production Ltd (YNPL) and indirect subsidiary Yinson Operations & Production West Africa Ltd (YOPWAL).The estimated aggregate value of the contract is based on the assumption that the extension options are fully exercised…

Repsol Net Profit Up 7.5%

(Photo: Repsol)

Spanish oil and gas firm Repsol beat forecasts with a 7.5 percent increase in fourth-quarter adjusted net profit on Thursday, boosted by higher oil and gas prices and increased production, and said its strategic plan was on track.Repsol started new projects in Algeria, Trinidad and Tobago, Britain, Peru and Malaysia during 2018, and benefited in October-December from an annual rise in prices and lower exploration costs.The company said it was on track to deliver its 2018-2020 strategic objectives, which include 15 billion euros ($17.1 billion) in spending, cutting debt and investing in renewables.In the fourth quarter

Coal's Uncertain Future and Glencore's Output Cap

File Image: AdobeStock / © Leonid Eremeychuk

It's been weird in the coal world in recent days, with the world's largest shipper saying it's capping output, biggest seaborne buyer China putting restrictions on some imports, and an Australian court saying mines must factor in climate change.Throw in an executive at a major Indian coal-fired power generator saying his company won't build any new plants as coal can't compete with renewables, and it's little surprise that environmental activists may be tempted to pop champagne corks.The common theme at work is that coal is finding it harder to secure a long-term future in the world's energy mix.

Repsol Unveils Big Gas Discovery in Indonesia

Map: Repsol

Spanish energy giant Repsol has made a substantial natural gas discovery in Indonesia along with its partners, Malaysia's Petronas and Japan's Mitsui Oil Exploration (Moeco).The company described the discovery in South Sumatra as "the largest gas find in Indonesia in 18 years" and one of the 10 largest in the world over the past 12 months.The discovery is also among the ten largest finds worldwide in the last 12 months. The KBD-2X well in South Sumatra provides preliminary estimation of at least 2 TCF of recoverable resources.The discovery was made in the Sakakemang block in South Sumatra…

Repsol Makes Huge Find in Indonesia

(Image: Repsol)

A consortium led by Repsol has found new gas resources in Indonesia estimated at at least 2 trillion cubic feet, the Spanish oil and gas firm said on Tuesday, equivalent to around two years' worth of Spanish demand.The discovery at the Sakakemang block in South Sumatra is among the 10 largest finds worldwide in the last 12 months, and the biggest in Indonesia for 18 years, Repsol said.Following its strategy to maximize the use of gas as major economies phase out carbon, Repsol plans to drill another appraisal well in the area in the coming months…

Repsol's Biggest Gas Discovery in Indonesia in 18 years

A consortium led by Repsol has found new gas resources in Indonesia estimated at at least 2 trillion cubic feet, the Spanish oil and gas firm said on Tuesday, equivalent to around two years' worth of Spanish demand.The discovery at the Sakakemang block in South Sumatra is among the 10 largest finds worldwide in the last 12 months, and the biggest in Indonesia for 18 years, Repsol said.Following its strategy to maximize the use of gas as major economies phase out carbon, Repsol plans to drill another appraisal well in the area in the coming months…

McDermott Bags Pan Malaysia Jobs

Photo by McDermott International, Inc.

American multinational McDermott International has announced Malaysian offshore projects contracts for developing pan Malaysia oil fields.One contracts was from Sarawak Shell Berhad and the other from Sapura Exploration and production, a press release from the fully-integrated provider of technology, engineering and construction solutions to the energy industry said.McDermott's scope of work for SSB includes the transportation and installation of jackets, topsides and pipelines for the Gorek gas field.