Tekanan kos dorong penggabungan industri minyak & gas

Kerisauan oleh syarikat-syarikat perkhidmatan sokongan sektor minyak dan gas (O&G) terhadap peningkatan kos operasi dan tenaga buruh, dilihat mampu membuatkan mereka mengambil langkah untuk melakukan pengambilalihan dan penggabungan (M&A) bagi terus kekal di dalam sektor itu.

Beberapa syarikat perkhidmatan itu ketika ini telah menyuarakan masalah mereka berhubung kekurangan tenaga kerja, sekali gus menyebabkan gaji yang terpaksa dibayar untuk mengekalkan tenaga kerja meningkat, khususnya tenaga kerja berkemahiran tinggi.

Sinopec inks purchase pacts with Petronas' Canadian subsidiaries

Petroliam Nasional Bhd (Petronas) has secured China Petrochemical Corp (Sinopec) (pic) as the latest buyer for its Canadian-based Pacific Northwest Liquified Natural Gas (LNG) project.

The national oil company said in a statement yesterday that its subsidiaries, Progress Energy Canada Ltd and Pacific NorthWest LNG Ltd, had signed transaction agreements with Sinopec.

The deal will see the Chinese company’s affiliates acquiring a 15% interest in Progress Energy’s LNG destined gas reserves in northeast British Columbia and in Pacific NorthWest’s proposed LNG export facility on Canada’s West Coast.

Perolehan Petronas Chemical RM15.202b

Petronas Chemical Group Berhad (PCG) mencatatkan perolehan sebanyak RM15.202 bilion bagi tahun kewangan berakhir 31 Disember 2013, susut lapan peratus berbanding RM16.599 bilion yang dicatatkan tempoh sama tahun sebelumnya.

Keuntungan sebelum cukai syarikat turut menyusut sedikit kepada RM4.547 bilion berbanding RM4.550 bilion pada 2012. Sementara keuntungan selepas cukai pula ialah RM3.504 bilion susut sembilan peratus berbanding RM3.837 bilion pada 2012.

'Yes' to Petronas stake move

Several Chambers of Commerce and Industry in Sabah are all for suggestions that the State Government seek a stake in Petronas - including a permanent place on the Board - instead of endlessly clamouring for higher oil royalty but getting nowhere.

They believe it is timely for Sabah to receive higher returns on its contribution to the country when its natural resources had been exploited for so long and developed.

Oil Royalty Agreement Can Be Re-Negotiated : Sabah's Chief Minister

The oil royalty agreement Sabah signed with Petroliam Nasional Bhd (Petronas) on June 14, 1976 can be reviewed or re-negotiated in line with the current changes and needs, said Sabah Chief Minister Datuk Seri Musa Aman.

Musa said all discussions could be discussed with the consent of both parties.

"There are various channels available for the state and federal governments to discuss issues based on power-sharing, inclusivity and agreement by all," he said.

Musa said this when winding-up debate on the royalty issue at the Sabah State Legislative Assembly on Thursday.

The Chief Minister said although the royalty was set at five per cent, the state has enjoyed an almost 30 per cent increase within five years, from RM750.9 million in 2008 to RM975.3 million in 2013.

He said Petronas has also invested in several mega projects in Sabah, among them the RM18 billion Sabah Oil And Gas Terminal and the RM30.6 billion Sipitang Oil and Gas Industrial Park where Sabah Ammonia Urea project was under construction.

"These investments would not only change the landscape of Sabah's development but would also provide jobs, boost business opportunities and increase the quality of life.

He added managing petroleum-related operations was no easy task.

"Mega projects pose technical and financial challenges and only big players in the industry have the expertise and strong financial resources to undertake them," he said.

Musa said drilling activities involved high costs and could only be undertaken by the industry's leading oil companies like Shell, ExxonMobil and Murphy Oil.

"To reduce the financial risks arising from uncertainties in oil drilling, Petronas has signed production-sharing contracts with these oil firms.

-- BERNAMA

Canada Approves 4 LNG Export Licenses on Pacific Coast including to Petronas

The Canadian government said it has approved four, long-term licenses to export liquefied natural gas from proposed projects on the country's west coast.

The licenses, which had received approval from Canada's National Energy Board in December, are for LNG exports from proposed Pacific Coast terminals backed by Exxon Mobil Corp., BG Group PLC and Malaysian state-owned energy giant Petroliam Nasional Bhd, or Petronas.

None of the proposed projects have been built or even formally approved by their sponsors.

The government said in a statement that the licenses will allow for the export of up to 73.38 million metric tons of LNG a year.

Western Canada is aiming to become a major global supplier of LNG by matching rising demand in Asia with abundant supplies of gas in North America.

Specifically, Canada said it has approved export licenses for the proposed Pacific NorthWest LNG, Prince Rupert LNG, WCC LNG and Woodfibre LNG terminals.

When the NEB approved the 25-year licenses in December, Canada's then Minister of Natural Resources, Joe Oliver, said the government would "review" NEB decisions related to the granting of LNG export licenses.

PBJV bags 282km pipeline job near Malaysia-Thai border

Barakah Offshore Petroleum Bhd has secured a contract from GOM Resources Sdn Bhd to provide pre-commission services for a 28-inch 282km pipeline.

It said on Monday the pipeline would stretch from Kerteh in Terengganu towards the border of Malaysia/Thailand joint development area.

Talisman eyes offshore block in Malaysia

Calgary-based Talisman Energy is understood to be eyeing the acquisition of another asset offering near-term production potential in Malaysia from US independent Murphy Oil, having already been tipped as the front-runner to land two other significant blocks off Vietnam and Malaysia.

Sources said Talisman is among those expressing interest in taking over Murphy Oil’s Block PM311, off Peninsular Malaysia.

Malaysia set to boost oil storage business

Malaysia’s biggest commercial oil storage facility will start operations today when it receives its first fuel shipment, expanding South-East Asia’s share in the oil storage business and also raising competition with neighbouring Singapore.

The US$600mil (RM1.9bil) oil storage terminal with a capacity of 1.28 million cu m in Pengerang, Johor would receive a clean oil product shipment today morning, Dialog Group Bhd, one of the owners of the terminal, confirmed to Reuters in an email.

Dialog slips on concerns over Tanjung Langsat Port legal suit

Dialog Group Bhd's share price fell early Friday on investor concerns over a notice of arbitration filed by Tanjung Langsat Port Sdn Bhd (TLP) over the oil terminal project in Johor.

On Thursday, Dialog said its unit Dialog E&C Sdn Bhd had received a notice of arbitration TLP for arbitral proceedings under the engineering, procurement, construction and commissioning (EPCC) contract dated Oct 18, 2006 and a settlement agreement dated May 13, 2011.