Thursday, October 17, 2019

Malaysia News

Petronas Completes 3rd LNG Break Bulking STS Transfer

 Image: Petronas

Petronas LNG Ltd (PLL), a subsidiary of Petroliam Nasional Bhd (Petronas),  has completed its second liquefied natural gas (LNG) cargo through its break bulking ship-to-ship (STS) transfer  to two buyers.The LNG break-bulking STS transfer took place in Brunei Bay, Sabah, Malaysia. It is the first for Petronas in expanding its customer base by providing solutions to two buyers, said the national oil and gas company.According to a report in Bernama, the delivering vessel, Seri Bijaksana, transferred 80…

Malaysia Could List Petronas' Exploration Arm

© Richie Chan / Adobe Stock

Malaysia is considering listing the exploration and production arm of state energy company Petronas, the world's third-biggest exporter of liquefied natural gas, state news agency Bernama reported on Friday citing Prime Minister Mahathir Mohamad.Mahathir has previously said that the government was looking to sell or list some state assets to reduce debt. There has been speculation this could include selling a portion of Petronas."At the moment, we feel that selling Petronas shares is not going to be good for the government…

KOMIPO, Petronas Ink LNG MoU

Image: Petronas

Korea Midland Power (KOMIPO) has signed a memorandum of understanding (MOU) on business development and cooperation in the fields of liquefied natural gas (LNG) and renewable energy with global energy company Petronas of Malaysia, the state-run power company saidThe MoU was signed on 18 September 2019 in Houston, Texas. Signing on behalf of Petronas LNG Ltd (PLL) was its Chairman, Ahmad Adly Alias while KOMIPO was represented by Park Hyung Koo, President and CEO. Both parties intend to evaluate, discuss and conduct a study on LNG infrastructure…

Petronas Q2 Profit Rises 8%

© Arcady / Adobe Stock

Malaysia's state-owned energy firm Petroliam Nasional Bhd reported an 8% increase in second-quarter profit on Friday because of a weaker Malaysian ringgit, though that was partially offset by higher product costs.Petronas, as the company is known, said profit after tax for April-June rose to 14.7 billion ringgit, up from 13.6 billion ringgit ($3.25 billion) in the same period a year earlier.Revenue at the firm decreased marginally to 59.1 billion ringgit from 59.2 billion ringgit, mainly due to lower average realized prices for petroleum products and liquefied natural gas.($1 = 4.1790 ringgit)(Reporting by Rozanna Lat

Velesto Bags Contracts from Petronas Carigali

Image: Velesto Energy Bhd

Malaysia-based Velesto Drilling, indirect wholly- owned unit of Velesto Energy Bhd’s (VEB), has received a letter of award from Petronas Carigali Sdn Bhd (PCSB) for the provision of jack-up drilling rig Naga 7.In a filing with Bursa Malaysia, the company said the contract worth an estimated US$8 million  is for the provision of drilling rig services for PCSB’s drilling program, which is expected to commence in the third quarter of 2019.The Malaysian offshore drilling and services provider said that…

China, Philippines: 'Bigger Step' Possible Offshore

© Sasha Strekoza / Adobe Stock

Chinese President Xi Jinping said China and the Philippines could take a "bigger step" in the joint development of oil and gas resources in the South China Sea if they can "properly" handle their dispute over sovereignty.Xi made the remarks on Thursday in a meeting in Beijing with Philippine President Rodrigo Duterte, who has positioned himself as a friend of Beijing but has come under growing pressure at home to push back against China's maritime assertiveness.The visit comes amid a recent rise in tension on multiple fronts, with Chinese vessels challenging energy assets and sea boundaries of Malaysia, Vietnam and th

BSP Contracts AqualisBraemar

Image: Brunei Shell Petroleum Company Sdn Bhd

Oil & natural gas company Brunei Shell Petroleum Company Sdn Bhd (BSP) has awarded AqualisBraemar a frame agreement to conduct rig inspection services for the operator.The agreement is valid for three years with an option to extend the contract for additional periods of three times one year, said the Norway-based global company that provides, through its subsidiaries and associates, consultancy services to the energy, marine and insurance sectors.Oslo-listed AqualisBraemar – a result of the recent unification between Aqualis Offshore and Braemar Technical Services – will provide rig inspection services…

Cheniere Working on Sabine Pass Trains 3, 4

The cheniere Sabine Pass facility (CREDIT: Cheniere)

Cheniere Energy Inc said on Monday it is conducting previously scheduled turnarounds on Trains 3 and 4 at the Sabine Pass liquefied natural gas (LNG) export terminal in Louisiana as part of its maintenance plan for the facility.The company did not say when the units would likely return to service but noted "a good general guide for timing" was work on Sabine Trains 1 and 2 earlier this year that lasted about three weeks.Cheniere has five liquefaction trains operating at Sabine and two at its Corpus…

US LNG Exports to Europe Grow

Graph: U.S. Energy Information Administration

U.S. exports of liquefied natural gas (LNG) have been growing steadily and reached a new peak of 4.7 billion cubic feet per day (Bcf/d) in May 2019, according to the latest data published by the U.S. Department of Energy’s Office of Fossil Energy.This year, the United States became the world’s third-largest LNG exporter, averaging 4.2 Bcf/d in the first five months of the year, exceeding Malaysia’s LNG exports of 3.6 Bcf/d during the same period.The United States is expected to remain the third-largest LNG exporter in the world, behind Australia and Qatar, in 2019–20.U.S.

Mainstream Names Asia-Pacific Head

Photo: Mainstream Renewable Power

Irish wind and solar projects developer Mainstream Renewable Power has appointed Raghuram Natarajan chief executive of its Asia-Pacific business."This key appointment to the Group’s Leadership Team, based out of its newly opened regional headquarters in Singapore, comes ahead of significant expansion plans for the region," said a press release.Natarajan brings a decade and a half of senior leadership experience in the wind and solar industry across India, Thailand, the Philippines, Malaysia, Taiwan…

Deepwater Leads in Discovered Oil and Gas

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Half of the 6.7 billion barrels of oil equivalent (boe) new conventional oil and gas discoveries in the first half of 2019 were deepwater finds, signalling a return for explorers to high-risk frontier deepwater plays, said analyst Rystad Energy.Year-to-date average monthly discovered volumes above 1.1 billion boe reflect an uptick of approximate 35% compared to the 827 million boe seen in 2018, according to Rystad's mid-year review. It said so far 2019 has been a year of gas discoveries, which hold a majority (63%) share compared to liquids…

Sapura Energy Bags Multiple Contracts

Image: Sapura Energy

Malaysia’s oilfield services player Sapura Energy said it has has clinched contracts worth a total of MYR 1 billion ($242 million) for several new oil patch deals and one – the company’s first – offshore wind contract.The 10 new contracts are for its engineering and construction and drilling segments across Malaysia, Thailand, Taiwan and Australia, said a press release from the company.In addition, the company has been selected for a frame agreement with Petroliam Nasional Bhd (Petronas) for fixed offshore structure works…

Vitol Builds Refinery for New Ship's Fuel

Vitol, the world's largest independent oil trader, has started building a small oil refinery at its storage terminal in Malaysia that will provide low-sulfur fuel for ships, a senior company official said on Monday.The project consists of a crude distillation unit that can process 30,000 barrels per day of crude and is located on the same site as Vitol's oil storage terminal at Tanjung Bin in the southern Malaysian state of Johor, Vitol Asia's President and Chief Executive Officer Kho Hui Meng said.A…

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…

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…

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