Wednesday, 31 May 2017

Barakah Offshore posts RM4.6m net loss in Q1

Barakah Offshore Petroleum Bhd registered a net loss of RM4.6 million in the first quarter (Q1) ended March 31, 2017, from a net profit of RM1.27 million in the previous corresponding quarter.

Revenue dropped 25.6% to RM76.84 million, compared with RM103.3 million in the same period last year, mainly due to lower revenue from installation and construction services (ICS).

In a filing with Bursa Malaysia, the group said ICS generated a total revenue of RM45.78 million, which is a decrease of 44.32% from the corresponding quarter.

Tuesday, 30 May 2017

Petronas okays Hibiscus’ purchase of Shell stake in Sabah venture

Petronas has given the go-ahead for partner Royal Dutch Shell to sell its (Shell’s) 50% stake in their joint-venture North Sabah enhanced oil recovery (EOR) project to Hibiscus Petroleum Bhd. However, the approval is subject to certain conditions.

Hibiscus told Bursa Malaysia that Shell’s units Sabah Shell Petroleum Co Ltd and Shell Sabah Selatan Sdn Bhd - which hold the combined 50% interest - were reviewing the conditions.

“If further clarifications are required from Petronas in respect of these conditions, these will be sought in due course and the company (Hibiscus) will make further announcements, if appropriate,” it said.

Hibiscus did not disclose the conditions imposed by Petronas.

Saturday, 27 May 2017

Icon Offshore bags RM5.4m vessel provision contract

Icon Offshore Bhd has bagged a RM5.4 million contract to provide a 60-tonne bollard pull anchor handling tug supply vessel for Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd’s operations.

In a filing with Bursa Malaysia, Icon said the contract, clinched through its wholly-owned subsidiary Icon Offshore Group Sdn Bhd, is for a period of up to 10 months.

"The contract is expected to contribute positively to the earnings and net assets of Icon Group for the financial year ending Dec 31, 2017 and beyond. Notwithstanding this, the contract is not expected to have any material effects on the share capital and shareholding structure of Icon," it added.

Thursday, 25 May 2017

KUB to spend US$80 mln on joint LPG terminal project

KUB Malaysia Bhd plans to spend up to US$80 million (US$1=RM4.295) under the memorandum of understanding (MoU) it entered into with Mabanaft Pte Ltd for the joint development of a refrigerated liquefied petroleum gas (LPG) terminal at Westport, Klang, Selangor.

Its President/Group Managing Director, Datuk Abdul Rahim Mohd Zin said the investment would entitle the group to have the majority shareholding of at least 51 per cent under the MoU.

“We need at least six months or until end of the year to undertake a feasibility study, and once we have determine that, we will make the financial investment decision,” he told reporters after the group’s annual and extraordinary general meeting here, yesterday.

Monday, 22 May 2017

Sarawak still negotiating with Petronas on increase in oil royalty

Sarawak has not abandoned its negotiation with Petronas for a 20% increase in oil royalty, Chief Minister Datuk Amar Abang Johari Tun Openg said.

In his winding up speech at the 18th Sarawak legislative Assembly sitting here, he said now the time is unfavourable for the negotiation as the price of oil is low and production cost very competitive.

"Under such a situation, we have to manage this with care," he said.

Meantime, he said in lieu of the loyalty increase, he had decided that the state would continue to pursue interests in the development of the oil and gas industry in the state.

Friday, 19 May 2017

Petronas Dagangan Records Stellar 1Q17 Results

Petronas Dagangan Bhd (PetDag) recorded a stellar first quarter pre-tax profit of RM335.6 million for the three months ended March 31, 2017 against RM295.6 million recorded in the same quarter last year.

Revenue rose to RM6.69 billion from RM4.91 billion previously, thanks to the 43 per cent increase in average selling price following the increase in Mean of Platts Singapore prices.

The selling prices, however, was offset by lower sales volume of four per cent, the petroleum products provider said in a filing to Bursa Malaysia.

The group's operating profit was higher by RM39.3 million to RM336.1 million, during the quarter under review, compared with the corresponding quarter last year on the back of better operating profits from retail and commercial segments which increased to RM198.80 million and RM132.20 million, respectively.

Wednesday, 17 May 2017

Dialog Group's Q3 earnings up nearly 20%

 Dialog Group Bhd's earnings rose 19.6% to RM94.40mil in the third quarter ended March 31, 2017, boosted by higher contributions from its joint ventures particularly the Pengerang Independent Terminals.

It said on Tuesday its revenue rose 42.4% to RM913.60mil from RM641.40mil a year ago. Its earnings per share were 1.74 sen and it declared an interim dividend of 1.2 sen a share.

Dialog Group said its share of joint ventures results in Q3 FY17 increased by 90.7% to RM28.6mil from RM15mil a year ago.

The Malaysia operation remained busy during the current financial quarter with engineering, construction and fabrication activities from various on-going projects such as the Pengerang Deepwater Terminal Phase 2, jetty topside works for Samsung in Pengerang and the construction of plasticiser plant for UPC Chemicals in Kuantan. 

Monday, 15 May 2017

UMW-OG bags RM151m contracts from Petronas Carigali

UMW Oil & Gas Corporation Bhd (UMW-OG) has received two contracts from Petronas Carigali Sdn Bhd worth US$34.81mil or RM151.07mil to provide services to its firm and optional wells.

UMW-OG said on Monday the contracts are to provide jack-up drilling rig services.

It said the first contract is to provide drilling rig services for Petronas Carigali’s drilling programme, whereby UMW-OG will assign its UMW Naga 3 for this contract.

The contract is to drill five firm wells with the option of drilling additional five wells, starting in June 2017.

PETROL refiners and distributors benefit from volatile oil prices

PETROL refiners and distributors have been one of the bright sparks on Bursa Malaysia in recent weeks.

Petron Malaysia Refining & Marketing Bhd and Hengyuan Refining Company Bhd (previously known as Shell Refining Company (Federation Of Malaya) Bhd, for example,have seen their shares rise by over 100% since the beginning of the year.

The market is of the impression that downstream players could benefit from a lower oil price environment as it can help stimulate demand growth and raise the sales of their products.

These companies have also benefitted from the oil price environment today which is not too high nor too low and prices have recovered when compared to the same quarter of the previous year.

Sunday, 14 May 2017

Natural Gas – Flipping The Switch

by Investvine - May 2017

Our brand new free 54-page report NATURAL GAS: FLIPPING THE SWITCH – Dawn of a New Era takes a close look at the current state of the natural gas industry both in Malaysia and the wider Southeast Asia region, as well as worldwide. It aims at making people familiar with the features and benefits of natural gas as compared to other energy sources, namely coal and oil, deciphering common myths and examining and highlighting the advantages of natural gas in terms of energy efficiency, environmental impact and costs.

The report puts Malaysia’s natural gas policy in perspective to other countries in Southeast Asia, and also versus large energy consumers such as the US, China and Europe, highlighting worldwide trends, future projections and environmental consequences.

China firm to resume construction of oil terminal at Asia Petroleum Hub in Tanjung Pelepas

China Railway Engineering Corporation (CREC) has been awarded a contract worth US$400mil (RM1.8bil) for the construction of the oil terminal of the just-revived Asia Petroleum Hub (APH).

Smart Crest Sdn Bhd, which has an oil terminal at Westport, signed a framework agreement to award the engineering, procurement and construction (EPC) to CREC.

At the signing ceremony, Smart Crest’s chief executive officer Datuk Lim Kian Boon said the contract is worth US$400mil and Fajarbaru Builder Sdn Bhd will be the local joint venture partner in-charge of civil works.

“We have not defined the percentage of the joint venture yet, because the project is already 60% completed when I took over, so we are not sure how much local content is left,” Lim said.

Saturday, 13 May 2017

Mega deal loss spells joy for UMW Oil & Gas

After abandoning a deal to create one of the largest oil and gas services providers in Malaysia, UMW Oil & Gas Corp. expects to return to profit next year with the return of full utilization of its drilling rigs.
Company President Rohaizad Darus said contracts have jumped, with rig utilisation climbing to 71 percent from 20 percent in the fourth quarter as oil firms operating in Southeast Asia resume spending on exploration and production.

Activity by state-controlled companies, including Petroliam Nasional Bhd., Indonesia’s Pertamina Persero PT and Thailand’s PTT Pcl is increasing, based on tender invitations the firms have received, he said.

“We are currently bidding for 35 tenders totaling 3.4 billion ringgit” ($783.1 million), Rohaizad said in a May 9 interview at the company’s Kuala Lumpur headquarters. “We hardly hit 20” at the same point last year.

KNM bags RM159m EPCC job in Thailand

KNM Group Bhd has bagged a RM159 million contract to undertake engineering, procurement, construction and commissioning (EPCC) works for the 300,000-litre per day Impress ethanol plant — expansion (IEL Phase 2) project in Chachaengsao Province, Thailand.

In a filing with Bursa Malaysia, KNM said its wholly-owned subsidiary KNM Process Systems Sdn Bhd (KNMPS) and its 74%-owned subsidiary KNM Projects (Thailand) Co Ltd (KNMPT) have collectively secured the contract from Thailand's Impress Ethanol Co Ltd (IEL). IEL is a manufacturer and distributor of alcohol/ethanol or fuel from agricultural products and it is effectively a 72%-owned subsidiary of KNM.

The construction duration of the IEL Phase 2 project is about 18 months.

KNMPS previously built the IEL Phase 1 project, involving 200,000 litres per day of fuel-grade ethanol production plant for IEL.

Friday, 12 May 2017

Untung suku pertama sebelum cukai Gas Malaysia naik 13.9%

Gas Malaysia Bhd mencatatkan keuntungan sebelum zakat dan cukai sebanyak RM45.2 juta pada suku pertama berakhir 31 Mac,  2017,  naik 13.9 peratus berbanding RM39.7 juta dalam tempoh sama tahun lepas.

Dalam makluman kepada Bursa Malaysia, katanya peningkatan itu disebabkan keuntungan kasar yang lebih tinggi sejajar dengan peningkatan jumlah gas yang dijual dan perbelanjaan pentadbiran yang rendah.

Perolehan kumpulan turut meningkat sebanyak 23.5 peratus kepada RM1,187.0 juta berbanding RM961.3 juta dalam tempoh sama pada 2016,  disebabkan jumlah gas yang dijual lebih tinggi dan semakan untuk menaikkan tarif gas asli.

Mengenai masa depan, Gas Malaysia menjangka peningkatan tahunan jumlah jualan gas dan bilangan pelanggan kekal bagi tahun kewangan 2017.

Thursday, 11 May 2017

Petronas selects offshore contractor for Pan Malaysia contract

Petronas has invited a select group of offshore contractors to bid for a 2018 season of transportation and installation work.

The workscope up for grabs is understood to be linked to the Shell-E6 development, plus Petronas Carigali’s Anjung project.

It is the next installment of the Pan Malaysia transportation and installation programme for 2017 and 2018.

Sapura Energy's subsidiary TL Offshore landed a Pan Malaysia contract earlier this year from Petronas for the transport and install of platform structures and pipelines and associated works for a duration of one year covering 2017.

In the past, Petronas has awarded multi-year Pan Malaysia contracts, but this time has taken a different approach whereby a panel of contractors has been selected to bid for each scope that comes up.

The panel is understood to consist of TL Offshore, Barakah Offshore Petroleum subsidiary PBJV, Hilong Marine with Brooke Dockyard, McDermott and Alam Maritim.

Wednesday, 10 May 2017

Malaysia pengeksport LNG ketiga terbesar dunia

Malaysia merupakan peng­­eksport gas asli cecair (LNG) ketiga terbesar dunia selepas Qatar dan Australia, dan dijangka terus mengekalkan kedudukan tersebut berdasarkan kemajuan teknologi penghasilan LNG yang dimiliki oleh negara.

Menurut penyelidikan yang dilakukan oleh agensi penyelidik industri, Investvine, fasiliti Terapung LNG Petronas Satu (PFLNG Satu) yang dimiliki oleh Petroliam Nasional Bhd. (Petronas) merupakan satu daripada faktor yang akan membolehkan Malaysia mengekalkan status sebagai antara pengeluar dan pengeksport LNG terbesar dunia.

Menurut agensi itu lagi, Jepun merupakan pasaran LNG terbesar Malaysia dengan menguasai 62 peratus eksport LNG negara, di­ikuti Korea Selatan (14 peratus), China (12 peratus) dan Taiwan (sembilan peratus).

Tuesday, 9 May 2017

Petronas and Saudi Aramco Explore Petrochemicals Expansion in Malaysia

Petronas and its partner Saudi Aramco are studying projects to build more petrochemical plants to make full use of raw materials from their joint venture in Malaysia.

Aramco signed a deal in late February to take a $7 billion investment, in the RAPID (Refinery and Petrochemical Integrated Development) joint venure with Petronas in Pengerang, southern Malaysia.

Projects being studied include speciality chemicals and synthetic rubber, company officials said at an industry conference on Monday.

"We're looking at what else we can do at RAPID," said Md Arif Mahmood, executive vice president and CEO of downstream operations at Petronas.

"There will be specialty (chemicals) using the C4s (technology)," he added, referring to petrochemicals produced from naphtha crackers.

Monday, 8 May 2017

Petronas: No FID Yet For Canada LNG

Petronas said it has yet to make a final investment decision (FID) with its Pacific NorthWest liquefied natural gas (LNG) export terminal project planned in northern British Columbia, Canada.

Petronas President/Chief Executive Officer Datuk Wan Zulkiflee Wan Ariffin said exploring options to make the proposed project competitive with other LNG producers in North America was currently the main target.

"We will announce the FID when the time is appropriate," he told a press conference held at the second day of the 19th Asia Oil and Gas Conference here Monday.

Wan Zulkiflee said Petronas' resources in Canada was very significant with its proven reserve of about 26 billion cubic feet (Bcf).

"We are determined to monetise the reserves at the right price and at the right time. "The project team is still exploring all options, including the technological aspects to develop the LNG plant that will be cost competitive compared with other producers in the North America," he said.

The state-owned company is currently the world's third largest LNG exporter (after Qatar and Australia).

TNB’s RM6bil Manjung 5 plant project on track for production

Tenaga Nasional Bhd’s second ultra-supercritical (USC) RM6bil coal-fired power plant, Manjung 5 (M5), is on track to meet its scheduled commercial operation date (SCOD) this coming October or 45 months from the project’s starting date.

The power plant in Manjung l, Perak, has achieved its Initial Operation Date (IOD) on May 2, 2017, where for the first time its generator was synchronised to the national grid, TNB said on Sunday.

The plant’s operator, TNB Manjung Five Sdn Bhd, is working closely with the engineering, procurement and construction (EPC) contractor for the plant - a consortium comprising Sumitomo Corp of Japan and Daelim Industrial Co Ltd of South Korea to ensure full commissioning of the plant.

After the IOD, the plant will undergo further tests to comply with the Malaysian Grid Codes.

Additionally, it will require further tuning works to achieve full capacity of generating 1,000 megawatts (MW) of electricity.

M5 will increase TNB’s coal-fired generation capacity to almost 5,000MW, representing about a quarter of Peninsular Malaysia’s installed capacity, it added.

Petronas says second floating LNG facility to be operational in 2020

Petroliam Nasional Bhd said its second floating liquefied natural gas (LNG) facility will be operational in 2020.

Petronas loaded its first cargo from the Petronas Floating LNG (PFLNG) 1 in east Malaysia last month, becoming the first company to produce LNG from a floating production unit.

The second one that is under construction, PFLNG 2, will enable liquefaction, production and offloading of natural gas in the Rotan field, 240 kilometers off the east Malaysian state of Sabah upon completion. It is set to have a processing capacity of 1.5 million tonnes per annum (mtpa).

Adnan Zainal Abidin, Petronas' acting vice president LNG assets, development and production, said development of the second facility was on track and that the company has received interest from other industry players for using both the facilities.

Petronas’ first floating LNG facility to start operating next month

Petronas is ramping up its liquefied natural gas (LNG) capacity with its first floating liquefied natural gas (LNG) facility, PFLNG Satu, expected to go into commercial operation next month.

LNG assets (upstream) vice-president Adnan Zainol Abidin said as for now, the group did not have any specific clients, but if demand were to arise, priority would be given to its portfolio buyers.

“Our first cargo went to India, and next, the vessel will sit on the Kanowit gas field off Sarawak for five years, after which our development people will be looking at the next field,” he told a media briefing in Kuala Lumpur on Sunday.

The facility, which marked the world first innovation in the LNG industry, is expected to boost Malaysia’s total LNG production capacity to 32 million tonnes per annum (mtpa).

The development of PFLNG Satu began in 2010 and is scheduled for start-up in 2016 at the Kanowit gas field off Sarawak.

Sunday, 7 May 2017

Indonesia sues PTT, PTTEP for US$2 bln over oil spill

The Indonesian government is suing Thailand's state-owned PTT and PTT Exploration and Production for around $2 billion for alleged damage to the environment from an oil spill in the Timor Sea eight years ago.

The Montara wellhead operated by subsidiary PTTEP Australasia caught fire in 2009, leaking hundreds of thousands of litres of oil off the northern coast of Western Australia, according to media reports at the time.

The incident was considered one of Australia's worst oil disasters, and PTTEP was fined A$510,000 ($394,000) by a Darwin court after pleading guilty in 2011 to charges related to workplace health and safety and failure to maintain good oilfield practice.

Indonesia alleges, however, that the oil spill also fouled seawater and coastal areas in the nation's East Nusa Tenggara province, and filed a lawsuit on Wednesday in a Jakarta court against PTT, PTTEP and PTTEP Australasia, seeking 27.5 trillion rupiah ($2.1 billion) for damages and restoration costs.

Saturday, 6 May 2017

Harga minyak menjunam teruk

Harga minyak mentah menjunam semalam dan menghapuskan sepenuhnya keuntungan yang diperolehi akhir November lalu.

Reuters melaporkan minyak mentah Amerika Syarikat jatuh 5.06 peratus kepada AS$45.40 setong dan Brent berada pada paras AS$48.35, turun 4.8 peratus.

Kejatuhan ini adalah pada paras paling rendah sejak akhir November selepas OPEC dan negara pengeluar lain dijangka tidak akan melaksanakan beberapa langkah lebih drastik untuk mengurangkan lebihan bekalan minyak dunia.

"Walaupun OPEC dijangka meneruskan pengurangan pengeluaran sendiri bagi tempoh enam bulan akan datang, ia akan menjadi cabaran untuk ahli bukan OPEC menjejaki langkah sama.

Multinational O&G Companies Keen To Set Up Regional Base In Malaysia

Malaysia’s InvestKL is more than half way to completing its mission: attracting 100 multinational corporations (MNC), including top oil and gas firms, to base their regional headquarters in Greater Kuala Lumpur (KL) by 2020.

Luring oil and gas MNCs ranked among the Fortune 500 or Forbes 2000 group of firms looms large for InvestKL given Malaysia’s well established petroleum industry, anchored by national oil company (NOC) Petroliam Nasional Berhad (PETRONAS).

“It’s is not the main focus, but it’s certainly a key sector because oil and gas is one of the 12 national key economic areas. KL is also an oil and gas hub for Southeast Asia,” Daniel Teng, senior director of Marketing & Communications, Strategy, Advisory and Services at InvestKL.

Friday, 5 May 2017

Oil dives under $50/bbl again

Oil slid more than 4 percent on Thursday, to its lowest since late November as investor worries about a growing global glut of crude erased most of the gains that followed last year's OPEC's output cut.

The slide worsened after OPEC delegates said their group and other producing countries were downplayed the chance of a bigger output when the producers meet on May 25, even though they said the output cuts were likely to be extended.

U.S. crude fell $2.05 or 4.3 percent to $45.77, by 12:08 p.m. Brent was down $2.07, or 4.1 percent to $48.71.

“The market continues to hunt for a bottom," said Gene McGillian, manager of market research at Tradition Energy in Stamford, Connecticut. "We’ve dropped to a five month low.”

Late last year, the Organization of the Petroleum Exporting Countries (OPEC), together with other key producers such as Russia and Oman, announced that they would cut oil output for the first six months of this year to reduce a vast global overhang of unused crude.

Thursday, 4 May 2017

Shell profits soar as oil sector makes a comeback

Royal Dutch Shell reported a sharp rise in net profit on Thursday, beating analyst forecasts and joining its peers as stronger oil prices and improved refining margins boosted revenue after nearly three years of downturn.

A billion dollars in cost savings and budget cuts made over the past three years, as well as around US$20 billion of asset sales following the US$54 billion acquisition of BG Group last February, also helped increase cash flow and boost profits.

After completing the integration of BG Group in the third quarter of last year, the company and investors are turning their focus to increasing revenue and reducing debt as oil prices appear to recover.

A near 55% rise in oil prices in the first quarter compared with a year earlier to around US$54 a barrel was the main driver of earnings growth.

Wednesday, 3 May 2017

Six killed in crane collapse at Samsung shipyard in Geoje, South Korea

Six people died and more than 20 were injured when a crane collapsed at a Samsung Heavy Industries shipyard in South Korea on Monday,

The incident took place during the construction of an oil platform for French energy company Total's Martin Linge field off Norway. The extent of any damage to the platform was not immediately clear, a Total spokesman in Norway said.

Total and Samsung Heavy said it was also not clear how the incident might affect delivery of the platform, which was expected to start producing oil and gas in the North Sea in 2018.

"It's too early to say what would be the consequences for delivering the platform, but for the time being all work at the yard has been stopped and the investigation is ongoing," said Leif Harald Halvorsen, a spokesman for Total's Norwegian subsidiary.

Tuesday, 2 May 2017

16 Malaysian Companies Participate In O&G Trade Exhibition In Houston

Sixteen Malaysian companies from the oil and gas (O&G) sector and comprising mostly small and medium enterprises (SMEs), participate alongside large corporations, including Petronas, at the Offshore Technology Conference (OTC) 2017 from May 1- 4 in Houston, United States.

The event is the largest O&G trade exhibition of its kind globally .

In a statement, the Malaysia External Trade Development Corporation (Matrade) said it would coordinate participation of the Malaysian companies at the event.

In collaboration with Malaysia Petroleum Resources Corporation (MPRC), Matrade will also explore export opportunities in the O&G sector.

The exhibition is expected to attract over 80,000 O&G leaders and experts from around the world.

Monday, 1 May 2017

Muhibbah group bags Bintulu Port job worth RM584.8mil

Muhibbah Engineering (M) Bhd’s 51%-owned subsidiary Muhibbah Viccana JV has secured a RM584.84mil contract to build a wharf, jetty and other associated facilities at Bintulu Port in Sarawak.

In a filing with Bursa Malaysia, the Klang-based engineering contractor said construction works for the project, awarded by the Bintulu Port Authority, would start immediately and be completed by end-2019.

Muhibbah had in 2014 bagged a RM157mil contract to construct the conveyor system facilities at the RM1.8bil Samalaju deepsea port also located in Bintulu.

The latest win is the second major contract netted this year by the Muhibbah group. In January, 49%-owned Muhibbah Engineering Middle East LLC clinched a 356.7 million Qatari riyal (RM425.4mil) deal from the Qatari government to build roads and infrastructure works at the Um Alhoul Economic Zone.

TH Heavy Engineering woes pile up

Global auditing company Deloitte has highlighted "multiple uncertainties that may cast significant doubt" on the future of the Malaysian oil and gas fabricator TH Heavy Engineering.

At the same time, the Malaysian Securities Commission and Malaysian Stock Exchange have made a series of demands on TH Heavy as part of its Practice Note 17 requirements.

In its disclaimer opinion attached to TH Heavy's latest annual results, Deloitte said it has "not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion".

As at 31 December 2016, the current liabilities of TH Heavy have exceeded its current assets by 733.1 million ringgit ($170 million) as a result of losses incurred during the current and prior financial years, said Deloitte.

The company has no fabrication project which is in progress as at year end.

Libya's Biggest Oil Field Sharara to reopen

Libya’s biggest oil field, Sharara, reopened as crude began to move through a pipeline connected to the Zawiya refinery, according to a person with direct knowledge of the matter.

Oil began to be distributed through the pipeline on Wednesday, and is expected to reach Zawiya Thursday night, the person said, asking not to be identified because the information hasn’t been announced.

Libya’s overall production is 491,000 bopd, National Oil Corp. Chairman Mustafa Sanalla said Thursday at a conference in Paris. Daily output averaged 420,000 to 460,000 bbl over the past few days, another person with direct knowledge of production said.

Petronas Lubricants expands China plant

Petronas invested RMB600 million (RM384 million) to expand its lubricant-blending plant in Shandong, China to meet the market’s growing demand for the product.

In a statement, Petronas president and group CEO Datuk Wan Zulkiflee Wan Ariffin said the annual output of the plant within the Weifang Economic Development Zone was expected to increase from 45,000 to 150,000 tonnes, which included automotive and industrial lubricant.

“The second phase expansion at our Shandong plant adds much-needed production capacity that will help us meet the soaring demand for our products.

"This strategic expansion of our footprint in China reflects the great importance we attach to our local customers here as well as our confidence in Petronas' prospects for future growth in the Chinese market," Wan Zulkiflee said.

Sabah SHELL Malikai project named best for design and engineering

The Institution of Engineers Malaysia (IEM) has awarded Shell Malaysia with the highest honour in design and engineering.

The IEM Outstanding Engineering Achievement Award 2017, presented to an oil and gas company for the first time in three decades, was awarded to Shell for its Malikai tension leg platform (TLP) deepwater project in Sabah.

“The safe and successful start-up of Malikai in December 2016 is a high point for us.

“This highest engineering recognition honours the many engineers and workers within the Malikai project team from Shell, partners, contractors and subcontractors who have shown remarkable creativity, resilience and the greatest level of professionalism in delivering this historic project,” said Malikai project manager Momas Modon as he received the award during the recent 58th IEM annual dinner and awards night.

Happy Labour Day / Selamat Hari Pekerja

Happy Labour's Day

The solution to overcome the problem of rising cost of living, reduce unemployment among young people, defending the rights of contract-based workers, and help Malaysians working abroad should be a priority.

Maybe it requires a political reform.


Selamat Hari Pekerja

Penyelesaian untuk mengatasi masalah peningkatan kos sara hidup, mengurangkan pengangguran di kalangan anak muda, mempertahan hak pekerja sambilan/kontrak, dan membantu rakyat Malaysia yang bekerja di luar negeri harus menjadi keutamaan.

Mungkin ianya memerlukan perubahan melalui kuasa politik.