Ketua Menteri Sarawak mahu royalti minyak lebih besar

Ketua Menteri Sarawak Tan Sri Adenan Satem berkata bayaran royalti lima peratus yang diterima negeri itu dari hasil minyak dan gas sejak 39 tahun lalu tidak memadai untuk membangunkan negeri berkenaan.

"Kami tidak berpuas hati dengan lima peratus. Kami mahu royalti lebih tinggi untuk menjana pembangunan negeri bawah Rancangan Malaysia ke-12,” katanya dalam satu majlis sambutan Hari Raya di Sebuyau semalam.

Petronas abruptly shuts secondary refining unit, say sources

Petronas is running the 100,000 barrels-per-day (bpd) Malacca refinery it jointly owns with US oil company Phillips 66 at a lower rate than usual after unexpectedly shutting a secondary unit.

The state-owned company shut a desulphuriser unit, which removes sulphur from oil products, due to a glitch, industry sources said today.

Stop Lynas from building road using rare earth waste

The Save Malaysia, Stop Lynas (SMSL) group has called on Pahang assemblymen not to allow Lynas to build a road to demonstrate the safe use of its rare earth processing waste.

SMSL chairman Tan Bun Teet said the company’s proposal to build the road was not in line with common practice.

Petronas awarded 13 major contracts for Pengerang Integrated Complex

Petronas has awarded 13 major contracts and three Letters of Award (LOA) to the successful bidders of the Pengerang Integrated Complex (PIC) project in Johor. The recipients of these awards made up of local and international contractors.

In a statement, the national oil firm said total contracts awarded included five Engineering, Procurement, Construction and Commissioning (EPCC) contracts for the Refinery and Steam Cracker (RC) component of the PIC project.

Greenpeace: Lynas tak penuhi syarat

Greenpeace hari ini mengeluarkan satu laporan yang menyatakan bahawa kilang nadir bumi, Lynas Corp tidak memenuhi syarat-syarat yang ditetapkan oleh pihak berkuasa.

Sehubungan itu, NGO tersebut menggesa supaya pihak kerajaan tidak memberikan Lesen Peringkat Operasi Penuh (FOSL) kepada syarikat perlombongan dari Australia itu.

Laporan setebal 86 muka surat yang bertajuk 'A Radioactive Ruse' itu menekankan beberapa kebimbangan yang berkaitan dengan Lynas Advanced Materials Plant (LAMP).

Petronas signs US$550 million Argentine shale deal

The Malaysian and Argentine state energy firms Petronas and YPF signed a deal Thursday to invest US$550 million (RM1.7 million) to develop shale oil in Argentina's massive Vaca Muerta fields, YPF said.

Petronas will contribute US$475 million of the total investment in the Amarga Chica block, part of a sprawling shale oil and gas find in southwest Argentina that is estimated to contain the equivalent of 27 billion barrels of oil.

Talisman expands drilling operations in Sabah

Talisman Malaysia Limited is in the process of further developing its Kinabalu platform with plans to start the construction of a wellhead to link with the existing platform by next year.

“This is so that we can drill further production wells to maintain our production from the Kinabalu field,” said its acting country manager, Duncan Smart.

Shell announces gas discovery at Marjoram-1 well, Sarawak

Shell today announced another exploration success in Malaysia with the discovery of gas at its deep-water Marjoram-1 well.

"Our strategy to expand our heartland areas through technologically advanced exploration is delivering tangible success in deep-water in Malaysia,"  Shell Upstream International director Andrew Brown, was quoted as saying in a statement here.

Tanjung Offshore posts pre-tax loss of RM909,000 in Q2

Tanjung Offshore Bhd reported a pre-tax loss of RM909,000 for the second quarter ended June 30, 2014, compared with a pre-tax profit of RM6.21 million in the same period a year ago.

Revenue declined to RM34.55 million from RM81.81 million in the same quarter previously, due to completion of various engineering equipment contracts in the early part of this year, the company said in a filing to Bursa Malaysia.

Tanjung Offshore is optimistic on the prospects of the oil and gas industry in Malaysia and the region by penetrating into niche areas within the sector for growth with a wider range of products and services in the near future. – Bernama

Favelle Favco’s Q2 pre-tax profit jumps to RM36.1 million

Favelle Favco Bhd's pre-tax profit more than doubled to RM36.1 million for the second quarter ended June 30, 2014, from RM14.7 million chalked up in the corresponding quarter last year.

The industrial crane maker chalked up a higher revenue of RM248.8 million during the period under review, from RM165.7 million recorded previously, it said in a filing to Bursa Malaysia today.

"As at Aug 20, 2014, the group's outstanding order book stood at RM10.2 billion with oil and gas (O&G) cranes for offshore O&G exploration and production activities making up the majority of the contracts secured.

"Remaining contracts are from the shipyard, construction and wind turbine industry. This is an all-time high to the group," it added. – Bernama

Santos entry into the deep-water oil Sabah

Australian independent Santos said today it has made an entry into the deep-water oil play in Sabah, Malaysia.

Inpex is the operator of Block S with a 75% interest while Petronas Carigali holds the remaining 25%.

Bumi Armada in consortium awarded US$1.2 billion Indonesia deal

Oil field services firm Bumi Armada Bhd said on Tuesday a consortium in which a wholly-owned unit is involved had won a US$1.18 billion (RM3.7 billion) contract in Indonesia.

The consortium will supply a floating production, storage and offloading (FPSO) vessel for Madura BD Field, a site east of Surabaya owned by Husky-CNOOC Madura Ltd.

Petronas signs production sharing contract with Gabon

Petronas, via its wholly-owned subsidiary, Petronas Carigali International E&P B.V., has signed a Production Sharing Contract (PSC) for Block F14 with the Republic of Gabon.

In a statement, Petronas said the offshore block was located in southern Gabon and measures an approximate 2,500 square km surface area in water depth ranging from 2,000 metres to 3,000 metres.

Petronas Q2 net profit up 37%

Petronas saw second quarter ended June 30, 2014, net profit jumped 38% to RM21.1 billion compared to RM15.3 billion a year earlier on higher revenue.

Petronas president and group CEO Tan Sri Shamsul Azhar Abbas said the improved performance however was partially negated by higher amortization expenses, higher impairment losses on property, plant and equipment as well as lower gain on disposal of investments and property, plant and equipment in the current.

Petronas' revenue increased 15% to RM85.4 billion from RM74.4 billion benefited from higher oil and gas production volume mainly from Iraq, South Sudan and domestic fields, higher liquefied natural gas (LNG) sales volume on the back of stronger demand from customers and higher processed gas sales volume driven by higher gas supply from the importation of LNG via the re-gasification terminal (RGT) in Melaka, coupled with favourable exchange rate.

Its upstream segment saw higher revenue of RM52.2 billion in the quarter from RM40.1 billion contributed by higher entitlement volume for all products in line with higher production.

Downstream revenue, however was down by RM1.5 billion to RM39.9 billion in the second quarter due lower crude trading and petrochemical sales volume.

Capital investments in the second quarter of 2014 totalled RM13.4 billion, compared to RM11.8 billion in the same period last year.

Sinopec bags RM4.2 billion Petronas subsidiary contract for Pengerang's project

KNM Group Bhd, which  is a selected subcontractor to Sinopec Engineering (Group) Co., Ltd, says the latter has received a letter of award for a US$1.329bil contract.

It said on Thursday Sinopec Engineering had received the letter from PRPC Refinery and Cracker Sdn. Bhd., a subsidiary of Petroliam Nasional Bhd for an engineering, procurement, construction and commissioning contract.

The contract involves one package of an oil refining and petrochemical integrated engineering project at Pengerang, Johor.

[INFOGRAPHIC] The World's Top 10 Biggest Upcoming LNG Projects

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First Oil Commences at Bentara Field Offshore Sarawak

Petronas announced that Bentara field in the Balai Cluster Risk Service Contract (RSC) area located offshore Sarawak, Malaysia has achieved its first oil production May 25.

The field which is expected to produce more than 1,000 barrels of oil per day is being developed and operated by BC Petroleum Sdn Bhd.

Fugro wins MH370 search contract

Australia today awarded a contract to Dutch engineering firm Fugro to search the sea floor where missing Malaysia Airlines Flight MH370 is believed to have crashed, hoping to unlock modern
aviation’s greatest mystery.

Months of searches have failed to turn up any trace of the missing Boeing 777, which disappeared on March 8, carrying 239 passengers and crew shortly after taking off from
Kuala Lumpur bound for Beijing.