Son, I have repeatedly discuss this many times in this thread. Read from the first page of this thread.

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This post has been edited by mohdyakup: Nov 25 2019, 05:53 PM

Letter of Demand. Lawsuit liao.

1. EPCM - WorleyParsons Kuantan office. Lotsa tongsan mainland Worley in the team. The EPC? KQKS kot? Not sure. Or Toyo.

2. Jadi. Its in phase 2 or 3 now I think. EPCC is by Chiyoda.

3. Jerun/Jerlun (SapuraOMV) awaiting FID. Big CPP liao, lotsa fabricator eyeing for this.

4. R&M, awaiting FID. Yes conceptual and front end by Worley. EPCM/EPCC? Either Saipem or Fluor. But Shell they love Fluor, as Fluor has Global Master Service Agreement with Shell. I love Fluor. My ex employer. Pay very handsome handsome one.

5. Not fly.

This post has been edited by mohdyakup: Nov 27 2019, 09:39 AM

Contract tak renew. Lemongrass project.

FLNG2 HUC at Rotan field. Which contractor yang execute? Alam Maritim? Sapura Energy-Pinewell? PBJV? Dayang?

Who is the O&M for FLNG2? FPSO Ventures is it?

Linde provide ASUs and Cyrogenic unit for FLNG2.

Its another small WHP for Hess North Malay Basin phase 4 kan?

OceanMight yard busy now lulz.

Only left Brooke Dockyard krikkk krikkk nadai job. Hope they can win this order.

North Malay Basin reservoir is hugeeeeeeeeeee.

Many prospect to come.

Inb4 Kelantan nadai oil royalty payment...

Inb4 politic.

Lulz.

Gas & condensate.

They still have the ongoing MAMPU-1 project kan?

Thissssss.

Thanks for sharing. Your intel nice liao.

Biden policy towards O&G.

Biden, as all known, is a tree lover. He is strong to push renewable agenda, unlike Trump.

Thats why on the first day Biden in the Oval Office, he declare wanted to rejoin Paris Climate Declaration. And he revoked Keystone Xl pipeline projects. I think, ongoing FID for the major LNG projects in the US will be shelved or revoked too - coming soon? Also, do expect incoming news about fracking, mesti kena revoked juga rasanya.

So, expect another four years of "cold" O&G environment, under investment, not enough funding, puts more pressure on O&G development.

Huhu.



This post has been edited by mohdyakup: Jan 22 2021, 12:05 PM

Too early to tell.

Remember, OPEC, particularly badly hit Middle East countries ready to dump in production, because their revenues badly hit. Again, facing another period of overproduction, not complying to quota, price depress downward spiral again.

We havent consider the greedy of Russia to ramp up production too, they badly need oil money.

When everyone become greedy to ramp up production, price will be depress over the long time.

OPEC has so many classic story of not complying quota. Saudi Arabia budget deficit teruk sangat sekarang, debt is piling up, and Saudi Aramco IPO has become sour, plus Covid19 pandemic prolong rising infection cases increasing worldwide now. Demand become sour too.

OPEC nation, they need at least USD80 per barrel above price to cover their budget deficit.

USD80 per barrel during this prolong Covid19 rising infection period? Fairy tales.

Sekadar pendapat marhean saya. I might be wrong.

50/50.

O&G industry to continue job cuts

O&G firms globally likely to continue to cut their spending as they have yet to recover from the global slump in oil demand

By S BIRRUNTHA / Pic TMR

WEAKER investments and global shift to low-carbon energy sources are expected to drive job cuts further in the oil and gas (O&G) industry with over 400,000 jobs axed last year alone.

Asia School of Business Assistant Prof Dr Renato Lima de Oliveira expects O&G companies globally to continue to cut their spending as they have yet to recover from the global slump in oil demand due to Covid-19.

National O&G companies like Petroliam Nasional Bhd (Petronas) and Saudi Aramco are further expected to pay hefty dividends to help respective federal governments manage their fiscal deficit as the Covid-19 battle continues.

Petronas has committed to an extra RM10 billion dividend on top of its scheduled RM24 billion dividend to the government for the year 2020. Saudi Aramco also said it would pay US$75 billion (RM303 billion) in dividend to the Saudi government.

In addition to external factors, De Oliviera said local factors also make it harder for the industry to attract fresh capital.

“Malaysia’s O&G fields are mostly matured, without new giant fields to attract investors’ appetite. Additionally, new taxes imposed by Sarawak and potentially other states like Sabah have increased operating costs, though the prospect of doing business here remains uncertain.

“Together, they point to the need to rethink the market entry conditions and costs, and push Malaysian companies to internationalise and diversify their operations,” he told The Malaysian Reserve (TMR) via email.

Most recently, Shell Malaysia Trading Sdn Bhd announced that it is reducing its workforce in the country by nearly 300 staff, mainly in the company’s upstream division, over the next two years.

Its parent company, Royal Dutch Shell plc, previously announced that it would cut 7,000 to 9,000 jobs globally by 2022 as part of its plans to shift focus to the renewable energy and power sectors.

Shell employs 83,000 people worldwide, including 6,000 in Malaysia. Centre for Market Education CEO Dr Carmelo Ferlito said the Movement Control Order and the new state taxes in Malaysia only serve to accelerate the industry’s transformation.

Meanwhile, another industry expert, who preferred to remain anonymous, told TMR that it is not surprising if the O&G industry undertakes a broader comprehensive retrenchment exercise given the state of the pandemic.

“It won’t be surprising as we can see it from Petronas’ activity outlook. There is generally no huge uplift in terms of activities across the country’s O&G industry,” he said.

The Bursa Malaysia Energy Index fell by 344.47 points or 27.76% throughout last year to end at 896.39 points. The index continued its decline this year by ending 49.61 points or 5.53% lower at 846.78 points yesterday.

Hibiscus Petroleum Bhd is the only gainer on the index so far this year. Laggards led winners 23 to one on the index with one counter unchanged.

https://themalaysianreserve.com/2021/01/21/...tinue-job-cuts/

Petronas Said to Join Fray for $4 Billion Lonza Chemical Arm

January 22, 2021 by Andrew Marc Noel, Elffie Chew

- Malaysian state oil company vying with buyout firms, Lanxess

- Lonza has asked for second-round bids by early February

Malaysian state oil producer Petroliam Nasional Bhd. is among suitors vying for a chemicals business being sold by Lonza Group AG, people with knowledge of the situation said.

Petronas is working with an adviser as it considers a second-round bid for the Lonza Specialty Ingredients business, according to the people. Switzerland-based Lonza has asked for offers by early February, the people said, asking not to be identified because the information is private.

German chemical producer Lanxess AG and a crop of top private equity firms have also been shortlisted for the next round of bidding for the business, which could fetch around 3.5 billion Swiss francs ($4 billion), Bloomberg News has reported.

A representative for Petronas said it “regularly evaluates potential business opportunities,” declining to comment further. A spokesperson for Lonza said the company is in discussions with potential buyers of the unit, without identifying them.

Pandemic Boost

Lonza, a maker of drug ingredients, is timing the sale of the biocide business with a surge in demand for hygiene chemicals. Use of antibacterial hand gels and disinfectants is expected to remain high beyond the peak of the coronavirus pandemic due to a deep-seated change in consumer habits.

Petronas already produces chemical staples including ammonia and methanol, a colorless liquid used to help make antibacterial agents and disinfectants. Shares of listed unit Petronas Chemicals Group Bhd. have fallen 1.1% in Kuala Lumpur trading this year, giving the company a market value of about 58.8 billion ringgit ($14.5 billion).

The Malaysian group joins other energy companies seeking to diversify by building out their chemical operations as they grapple with the long-term switch away from oil and gas. State-owned Saudi Aramco last year took over Saudi Basic Industries Corp., the kingdom’s flagship chemical producer.

Carlyle Group Inc. and a separate consortium of Bain Capital and Cinven have also been preparing second-round bids for Lonza Special Ingredients, Bloomberg News has reported.

Lonza Chairman Albert Baehny is seeking a trusted partner to buy the business, which is located right in the heart of the Visp, Switzerland site where the company makes critical ingredients for drugs. Lonza is helping produce Moderna Inc.’s Covid-19 vaccine at its facilities in Europe and the U.S.

— With assistance by Yantoultra Ngui, and Aaron Kirchfeld

https://www.bloomberg.com/amp/news/articles...impression=true

https://justforex.com/landing/world-trusted...r?flyingspaghettimonster=420141548

There are upcoming new petchem in plan to be built at Kerteh and Pengerang by Petronas Chemical Group (PCG) and its JV partner.

Question is, would it be fly soon? Petronas cash reserve is running low now, and if PCG want to make the project into reality, they need to raised Sukuk or other mean to raise capital, problem is, our downgrade debt rating, our Malaysia Govt debt rating downgraded, directly impacting Petronas, and cost of refinancing will be higher.

PCG biggest JV partner so far is BASF and Saudi Aramco. Heard rumor that Saudi Aramco wanted to scale it down its share (50% equity) at Pengerang, but in this sour economy, hard to find willing buyer.

The upcoming petchem project by PCG that I am talking about is a venture into glove latex business, which a raw material buthadine or something like that, which is will be a direct competitor to Synthomer.

Only time will tell. But I guess it wont be that soon.

Toyo, Samsung, SK E&C are among others who are prying for this project.

Toyo currently has an ongoing upgrading EPCC project at Petronas Penapisan (Terengganu) Sdn Bhd, at Kerteh. Its a sizeable & valuable sum of EPCC contract awarded by PPTSB.

Cant remember what is the scope of the EPCC, reformer or hydrotreater upgrading something like that, I might be wrong.