And why should they get it for free again?

We are not in a position to comment about the constitutionality of anything, let the lawyers deal with that.

If Petros wants a stake in LNG9, they have to pay market price like what PTT paid for. Otherwise, we are deprivig ourselves of the value that can be extracted from our investments.

Probably pending approval still from Petronas. The EOR commitment is yuuuugeee. So I doubt a compaby the size of Hibiscus has the capital to fulfill that commitment and Petronas knows it.

Nitrogen I guna untuk unload my wells yang mampus ari tu boleh la. It will lighten the column. But for EOR, probably not going to work.

RON95 is calculated using MOPS95 prices which has its own commodity market. It usually follows the trend of the crude prices but sometimes it doesnt. For example, crude price declines but if one of the major refineries shuts down for maintenance, then gasoline supply will be affected and therefore prices of gasoline will go up, does not matter what happens to Brent prices.

The past 4 weeks, MOPS95 has gone up significantly fromaround 59 dollars per barrel to 67 barrels per barrel, we are talking almost 15% increase in MOPS95 prices. That is why you see the prices of RON95 going up from 1.90 to 2.15.

It is quite easy to figure out the mechanism of the APM (Automatic Price Mechanism) that determines the prices at the pump

1. MOPS95 prices (also known as Singapore MOGAS95 which is traded in Singapore & New York)
2. Exchange rate between MYR & USD as MOPS95 is traded in USD
3. Alpha - The price differential between MOPS95 and the price paid by the oil company - Fixed at 5 sen per litre
4. Operational Cost - Includes the transportation cost and marketing cost - Fixed at 9.54 sen per litre
5. Oil Company's margin - Fixed at 5 sen per litre
6. Petrol Dealer's margin - Fixed at 12.19 sen per litre

So from all this information, you as the consumer can actually figure out the general direction of the Petrol Prices for every Thursday

The KPDNKK and MOF will use the prices of these products from Thursday to Wednesday so you will have to averaged the price of the commodities and the exchange rate to be able to determine the price.

The government will use the prices of MOPS95 from Platts which is proprietary and only available for subscribers ... for as consumers, the closest you can get is the Futures Market which can be found here

http://www.cmegroup.com/trading/energy/ref...ap-futures.html

Be extra careful when switching month .... there is a huge difference so I suggest you create an excel table with the necessary dates, prices and corresponding exchange rate (use BNM 5PM closing rate)

Again, the prices are future prices but the closing prices for that particular day will be really really close to the MOPS95 spot prices. Most of the time you will be off by 1-3 sen (about 1%).

Sorry for the long post. I just wanted people to be informed about this thing. Otherwise we will be posting nonsense in Facebook ... I call it "meroyan" about Ohh how the gomen is trying to pay for this and pay for that ... without us being an informed consumer, we usually will listen to all sort of shit news from whomever seems to satisfy our anger.

Bottom line, subsidies are gone ... and what you are paying at the pump is the actual market prices of the product being traded. Be damn lucky that the gomen is not imposing a Fuel tax (other than the 6% GST for RON97). Most developed countries imposed close to 70% Petrol Tax.

P/S - The prices are for 1 barrel and 1 barrel is 158.99 litres.

P/S #2 - I shake my head when I read all these post in FB where everybody who didn't do their homework posts all sorts of nonsense about Petrol prices. If I were interviewing people, these are the kind of people I don't want to hire because they basically announce to the world that they are ignorant, lazy to look for information and are emotionally inept. Would you like these type to work for you?

Ni kes aniaya. The bugger who swindled the money was from SCM (he was arrested later and was alleged to have taken 16 million ringgit of the loot). It was the Project Manager who after realising his mistake, sent a credit note asking the money back. The company refused because ye lah, money already divvied up. He was also the one who made a police report but he ended up getting arrested by MACC.

Petronas sekarang pun require UTC not to exceed 25 bucks. It’s no longer “Lower for Longer”, it’s “Lower Forever”

Still there ... going on strong

PETRONAS bought 100% of Progress for 6 billion Canadian Dollars. Immediately after the purchase was final, they sold 10% to JAPEX (or some Japanese company for a lot of dough .... almost double or triple the price they paid for that same amount of stake), and another 10% to Indian Oil also for about the same amount .... I think at the end of it, they sold 20-30% and got more than half the money the paid for Progress .... I say that is good business.

This post has been edited by azraeil: Oct 8 2017, 09:06 PM

Wahhh this thread is still rocking. Giler lama aku tak masuk LYN.

I see @Stamp and @mohdyaakup is still active. Awesome. Masuk ari ni pun sebab ada budak PM. Heheheh.

Lambat jawab but Octanex operates the Ophir field. Tembikai RSC is operated by Vestigo and is chugging along just fine. We should get our REM fee soon.

Thanks. Been busy as hell sejak balik Malaysia. They really perah you like hell one. But the job is fun.

K5 has been looked at for ... forever. Last I heard they plan tk install a big ass MOPU with 2 wells only. One to produce and one to re-inject. More of a research thing.

Giler lama tak masuk LYN ..... I see the regulars are still around. Selamat berpuasa for my muslim friends!

Was in Middle East until 2014. Then went to India (yes I know ...) for a year and have been back in Malaysia since 2015

No plan to venture overseas anymore. Parents are aging and I'm glad I was in country during Covid .... a lot of my friends were stuck overseas and were unable to return home to visit their families.