For Your Reading Pleasure – Kimanis-Bintulu Gas Pipeline Project

 Oil and Gas  No Responses »
Nov 162008
 

One of the hot issue a few month’s back is Sabahan Politician complained about Kimanis-Bintulu Gas Pipeline Project. UPKO President raises this issue a few times but ealier this month, Pak Lah has cleared the air by giving his say that the Project will be go on. Today’s NST Exclusive interview with PETRONAS President and CEO is quite good one and hopefully that all Malaysian can take few points highlighted by Tan Sri Dato Seri Mohd Hassan Marican. Anyway, my take away point will be

 

  • Question: Some Sabah politicians are saying the gas belongs to Sabah and as such it must benefit the state. 
  • Answer: I think this is a national resource. (period) … ( it’s a good and ultimate answer, you can refer to PETROLEUM DEVELOPMENT ACT 1974 on why I said this)

For full interview, please read here.

 Posted by Renjuna at 6:50 pm  Tagged with: , , , , , , ,

Shell Refining Recorded Q3 net loss of RM286m

 Oil and Gas  No Responses »
Nov 122008
 

Such a big surprise for me when even one of survival of Seven Sister company recorded a big loss in such a short period. Shell Refining Co. (Federation of Malaya) Bhd posted a net loss of RM286.54mil in the third quarter, weighed down by stockholding loss of RM254mil. The company said on Wednesday the Q3 net loss for the quarter ended Sept 30 was a sharp difference from the net profit of RM128.83mil where there was a net gain of RM129mil a year ago. Revenue was RM3.23bil compared with RM3bil a year ago. Loss per share was 95.51 sen compared with earnings per share of 42.94 sen.

Two things simplified for this huge loss; share dropped and unefficiency of the overall operation. wullawey…

 Posted by Renjuna at 8:35 pm  Tagged with: , ,

Petrol And Diesel Price To Drop Saturday (Tonight)

 Oil and Gas  No Responses »
Aug 222008
 

GOOD NEWS TO ALL MALAYSIAN…….  The petrol and diesel price will drop by between eight sen and 22 sen respectively Saturday.

Prime Minister Datuk Seri Abdullah Ahmad Badawi announced Friday that the Cabinet had decided that the price of RON97 petrol be reduced by 15 sen to RM2.55 a litre from RM2.70, while RON92 would cost 22 sen less at RM2.40 a litre from RM2.62 a litre.

The retail price of diesel would drop by eight sen to RM2.50 a litre, he said in a statement.

The petrol price was determined by taking into account the actual price from Aug 1 to 21 and the 30 sen per litre subsidy borne by the government while the subsidy for diesel, based on the new price, was 50 sen a litre.

Source: Bernama

 Posted by Renjuna at 7:51 pm  Tagged with: , , ,

Tan Sri Hassan Marican Resigns As Chairman & Director Petronas Gas

 Oil and Gas  1 Response »
Aug 162008
 

GO En Wan Zul, please make PETRONAS and MALAYSIA proud with your appointment and to Tan Sri Hassan, thank you very much by bringing PETRONAS to multinational level of company and please do not step down as PETRONAS Chairman/CEO/President.. PETRONAS STILL NEEDS YOUR INTELLIGENT IN VIOLATILE BUSINESS WORLD (……  maybe caused by some ignorant politiciants/speculators).

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KUALA LUMPUR, Aug 15 (Bernama) — Petronas Gas Bhd’s chairman and director Tan Sri Mohd Hassan Marican has resigned from his post as chairman and director effective today to give way to Wan Zulkiflee Wan Ariffin, who was redesignated as chairman and director.

In a statement to Bursa Malaysia, the company said Wan Zulkiflee’s previous position was as director of Petronas Gas.

Mohd Hassan still retained his post as Petroliam Nasional Bhd (Petronas)’s president and chief executive officer.

Petronas Gas is one of the four subsidiaries of Petronas listed on the Bursa Malaysia.

It is involved in providing gas processing and transmission services to Petronas and its customers as a throughput company.

 Posted by Renjuna at 1:34 am  Tagged with: , , ,

Petronas Has Never Made Any Losses in Commercial Ventures

 Oil and Gas  1 Response »
Jul 082008
 

 Kudos to PETRONAS. (pls read here)

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KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has never made any losses in any commercial ventures that the national oil company has embarked upon, said Prime Minister Datuk Seri Abdullah Ahmad Badawi.

 

In his written reply at the Dewan Rakyat yesterday to Lim Kit Siang (Ipoh Timur-DAP), who had asked Petronas to list out five projects in which it had suffered major losses, also said Petronas had also undertaken non-commercial projects aimed at boosting nation-building.

 

Among such projects is Universiti Technologi Petronas (UTP) in Tronoh, Perak, which was established in 1997 specialising in engineering and information technology. The university incurs an operation cost of RM150 million per year and has produced 3,400 graduates to date.

 

Petronas had also established the Institut Teknologi Petroleum Petronas (INSTEP) in Bukit Rakit, Terengganu where it trains technicians for the oil and gas sector. Established in 1983, it has an annual operation cost of RM80 million.

 

Its other project is Petronas NGV Sdn Bhd, which owns 90 stations with NGV facilities and has plans to increase the number of stations to 200 by 2010. Established in 1992, the NGV is sold at 68 sen per litre and Petronas has forked out RM500 million in subsidies.

 

To another question by Fong Kui Lun (Bukit Bintang-DAP), Abdullah said the national oil reserve on Jan 1, 2007 was at 5.4 billion barrel, with an average output of 666,000 barrels per day for the financial year ended March 31, 2007. The Malaysian crude oil was priced at US$68.50 per barrel in the same financial year.

 

 

 Posted by Renjuna at 12:17 pm  Tagged with: , ,
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