Sunday, October 2, 2011
Saturday, August 13, 2011
Thursday, August 11, 2011
Wednesday, August 10, 2011
Sunday, August 7, 2011
Saturday, July 30, 2011
PETALING JAYA: The public should disregard an e-mail being circulated of a job recruitment programme purportedly by Petroliam Nasional Bhd (Petronas).
The e-mail under the heading “Petronas Job Opportunity”, urges readers to submit their personal details to a “Petronas manager”.
Doing so would enable them to obtain jobs with the giant company, it promises.
Those behind the scam pose as Petronas recruitment department personnel and charge job seekers a certain sum to secure positions in the company.
In a statement issued yesterday, the national oil company clarified that Petronas did not go into e-mail-based recruitment exercise nor did it engage third-party personnel or on-line employment agencies for such a purpose.
“The public should not respond to such e-mails,” it added.
Petronas clarified that its official online talent scouting portal iswww.discoverpetronas.com.
“Petronas does not request any payment or charges any fee for processing job applications,” it said.
Sunday, July 17, 2011
Sunday, July 3, 2011
Tuesday, June 28, 2011
Sunday, June 26, 2011
Wednesday, June 22, 2011
Lynas doesn't expect 'zero-sum game' result
Note: Zero-Sum Game - a mathematical representation of a situation in which a participant's gain or loss is exactly balanced by the losses or gains of the other participant(s)
KUALA LUMPUR: Australian-listed Lynas Corp executive chairman Nicholas Curtis does not expect the decision by the international expert panel on the controversial RM700mil rare earth facility in Gebeng, Kuantan, to involve a “zero-sum game” whereby the company will not be allowed to commence its operations.
The decision is scheduled to be made at the end of this month.
“I'm not going to pre-empt what the expert panel will decide. But it's simplifying things to say the panel will decide on whether we should leave or not leave, do or don't. If we can make it safe, improve things and put the necessary measures in place, I assure you we will abide by that.
“We are up for any improvements. There's only one tiny part of the operation (waste management) that produces potentially radioactive material, the rest is absolutely safe. If they say the storage facility is fine but we need to do a few other things, of course, we will abide by it,” he said in an interview with StarBiz yesterday.
“Let's factually engage and take the emotion out of this debate. We'd like to engage the community to feel comfortable that the facility is safe. We are glad that the community is talking to the IAEA (International Atomic Energy Agency),” he said.
Following wide-spread public concerns over the social and environmental hazards, the Government appointed an independent panel of international experts to review all health and safety aspects of the project. Pending completion of the review, it was also decided that no pre-operating license will be issued to Lynas by Malaysian Atomic Energy Licencing Board (AELB) and that no raw materials will be imported for the plant from Australia.
Lynas plans to import rare earth ore from its Mount Weld mine in Western Australia, truck it to the port of Fremantle, send it by container ship to Kuantan and process it at the Gebeng Industrial Estate in Pahang.
Curtis further defended the company's decision not to have the processing plant in Australia.
“We don't sell one molecule of our material to Australia. We sell them to Japan, the United States and Europe. So, there is simply no market in Australia to justify the economics (of setting up the plant in Australia).
“So, we have to transport these materials somewhere away from the centre of the desert for processing. We went to China first as they had the technology and skills but it didn't work because they pulled down the shutters on exports. Why would we take all the materials there only not not be able to get it out again?
“It came down to a UAE and a few Asian countries, including Malaysia, and we felt the conditions in Malaysia was better in terms of infrastructure,” he said.
Curtis, Lynas' founder, admitted that the company had done a “poor job” in explaining to the public about its facility and had not foreseen the “perfect storm”.
“The company suddenly found itself confronted with accusation of damage to the community which has been challenging to confront. It's not how we see ourselves. We are a value-based company. Fundamental to rare earth is their embeddedness in technology, in particular green technology. So we think ourselves as going in the same direction as the activists who say we are going in the opposite direction,” he said.
“We had gone through all the permitting process and all the jumps and hurdles that the AELB put us through. What we didn't recognise is that was not enough. We had the obligation to tell the community more about what we were doing and while we did that in 2008, the big mistake is that we should have continued to reinforce it. I believe strongly that our licence to operate is a function of community acceptance.”
Lynas is a single-project company. “We are not a big monster mining company and do not have projects all around the world. We are focused on one thing, which is this one particular operation. We'd be appalled with the concept that we would in any way hurt or damage the community from our activities. That's not in any way an acceptable position. The very core of our existence is sustainable future,” he said.
Monday, June 20, 2011
Wednesday, June 15, 2011
Tuesday, June 14, 2011
Monday, June 13, 2011
Saturday, June 11, 2011
Thursday, June 9, 2011
Tuesday, June 7, 2011
Petronas: Oil prices should remain in US$75-US$85 range
KUALA LUMPUR: Petroliam Nasional Bhd believes crude oil prices should remain within the range of US$75 to US$80 per barrel given the current state of market fundamentals and cost environment.
President and chief executive Datuk Shamsul Azhar Abbas said prices played a pivotal role in resource allocation decisions of both consumers and producers, but were influenced by the actions of central bankers and financial speculators.
“How have we reached these price levels this early in the economic cycle given the absence of any real evidence of shortages in the physical market?” he asked in his keynote address at the 16th Asia Oil and Gas Conference here yesterday.
He pointed out that key crude price benchmarks were in their triple digits, having risen by more than US$25 per barrel in a matter of months, amid the fear of supply disruption in the Middle East and North Africa and a weakening US dollar pushing up the price.
He said the Organisation of the Petroleum Exporting Countries (Opec) spare capacity has fallen below four million barrels per day, while inventory levels of crude oil and petroleum products have come off their highs.
“Global natural gas demand rebounded strongly by 4.9% and LNG demand, an astounding 21%. The buffers in supply that exist today might indeed absorb these demand increase quite comfortably,” he added. Bernama
Shamsul Azhar said Asia would have consumed more than 250 billion barrels of oil by 2030, more than six times its current proved reserves of about 40 billion barrels.
He said geology-based assessments have suggested that the region's mean undiscovered oil resources is in the order of about 50 billion barrels.
“At a recovery factor of 30%, these undiscovered resources would translate into a resource base, one-and-a-half times the combined proved reserves of Indonesia, Vietnam and Malaysia,” he said.
Sunday, June 5, 2011
Saturday, June 4, 2011
The two companies have also agreed to collaborate on other potential natural gas opportunities in western Canada.
Wednesday, June 1, 2011
Monday, May 30, 2011
KUANTAN 30 Mei - Lebih 100 orang termasuk ahli Gabungan Pelajar Melayu Semenanjung (GPMS) Pahang berkumpul secara aman di pantai Teluk Chempedak di sini, hari ini bagi menyatakan sokongan terhadap pembinaan kilang memproses nadir bumi oleh syarikat Lynas Corporation Ltd dari Australia.
Pengerusi GPMS Pahang, Wan Emril Nizam Wan Embong berkata, perhimpunan itu diadakan sebagai gambaran bahawa bukan semua pihak menolak pembinaan kilang yang memberi manfaat terutama dari segi pelaburan kepada negara.
"Projek Lynas merupakan satu projek yang selamat, tidak perlu warga Kuantan bimbang kerana ada radiasi yang baik dan ada yang tidak,” katanya kepada pemberita di sini, hari ini.
Finally! The supporters are here...
Sunday, May 29, 2011
Saturday, May 28, 2011
Friday, May 27, 2011
EIA & RIA reports on LYNAS plant available for public review
KUALA LUMPUR: The Environmental Impact Assessment (EIA) and Radiological Impact Assessment (RIA) reports for the proposed rare earth processing plant in Gebeng, Pahang, by Lynas is now available for public viewing from May 30-June 30.
The International Trade and Industry Ministry in a statement Friday said the reports will be available for public viewing at;
- Department of Environment library
- Natural Resources and Environment Ministry
- library of the Department of Environment of Pahang
- Kuantan Municipal Council
- Pahang Land and District Office
- Pahang Police headquarters
- National Library of Malaysia
- Police Beat Base at Gebeng Industrial Estate
- Pahang State Library
- Balai Penghulu Mukim
- Department of Environment
- Atomic Energy Licencing Boards of state offices
Thursday, May 26, 2011
So (just to lighten up the mood), I'm just gonna share a few thoughts from Royal Professor Ungku Abdul Aziz, which were originally in Malay but I've translated it as well.
Talk more, work more - Excellent
Rajin bekerja, malas bercakap - Kena Buli
Work more, lazy talk - Being bullied
Malas bekerja, rajin bercakap - Wayang Cina
Lazy work, talk more - Drama
Malas bekerja, malas bercakap - Tak Guna
Lazy work, lazy talk - Useless
Malas bekerja, suka mengadu - Nyanyuk
Lazy work, praise more - Senile
Malas bekerja, selalu ponteng - Baik Berhenti
Lazy work, always absent - Better quit
Malas bekerja, suka menyibuk - Baik Mati
Lazy work, more "busy body" - Better die
Wednesday, May 25, 2011
PETALING JAYA: Petronas Chemicals Group Bhd will undoubtedly benefit from parent company Petroliam Nasional Bhd's (Petronas) plan to build a US$20bil integrated downstream oil and gas complex in Pengerang, Johor.
Analysts expect the company to be a key beneficiary, although it has yet to confirm its participation in the project.
CIMB Research said in a report yesterday that the plan would provide great growth potential for Petronas Chemicals, similar to what the latter had achieved at its largest facility at Kertih.
“Although the management has not clearly stated whether it is expanding in Johor, this plan is likely to be an expansion of the new naphtha-based petrochemical complex that the company talked about previously,” CIMB Research said, adding that Petronas Chemicals could invest US$1.5bil to US$2bil in the project.
JP Morgan said in a report this month that the development was positive for Petronas Chemicals as it would provide feedstock for the company to expand its Malaysian capacity further.
“We think this is important because for most Asian petrochemical producers, feedstock availability is the main bottleneck to expanding capacity significantly over the next three to five years.
“The new ethylene capacity would be three times Petronas Chemicals' existing capacity and because it is based on naphtha, it will have the capability to produce profitable products like butadiene as well,” it said.
Petronas Chemicals has previously announced a three-year expansion plan that can add 30% capacity by 2015. The plan includes a downstream expansion to enhance margins, urea and ammonia plants with one million tonnes per annum capacity, and a new naphtha-based petrochemical complex.
The plans were likely to be finalised by next year and should be adequately funded with the company's net cash which stood at RM5bil now, said CIMB Research.
The research house said Petronas Chemicals would report strong fourth-quarter earnings for the financial year ended March 31 (due to be out tomorrow), with a growth of 36% quarter-on-quarter and 34% year-on-year.
The better earnings will be driven by higher margins on all of its products, improved petrochemical product prices (owing to higher oil prices) and a smaller increase in costs, especially ethane cost which is relatively fixed due to contracts.
It maintains an “outperform” call on the stock and said the share price was likely to be re-rated for its strong earnings in the fourth quarter and improved fundamentals, both short term (due to higher oil price and rising volume) and long term (its expansion plans and industry margin improvement post-2011 due to the industry upcycle).
“The stock remains attractive, given its superior growth profile and profitability. We continue to apply a calendar year 2012 EV/EBITDA (enterprise value/earnings before interest, taxes, depreciation and amortisation) of 10 times to the stock, leading to an unchanged target price of RM10,” it said.
Meanwhile, ECM Libra Investment Research said in a report on Monday that Petronas Gas Bhd was an attractive buy with a target price of RM14.14. It implies a 19.4 times price-to-earnings ratio due to potential earnings upside from its liquefied natural gas (LNG) re-gas facility to be ready mid next year in Malacca.
“New earnings would be from transportation and re-gasification service agreement or the agreement alone,” it said.
ECM Libra said with the plant adding some 20% to Petronas Gas' current transportation volumes, net profit could grow by 10% from transportation alone. As for re-gasification charges, revenue from that segment alone would amount to RM330mil based on an estimated price of RM2 per million British thermal units.
OSK Research also said in a report recently that Petronas Gas could be an indirect beneficiary of gas subsidy cuts, given that the move would make it more palatable for Petronas to import LNG via the former's terminal for transmission around Peninsular Malaysia.
Tuesday, May 24, 2011
Sunday, May 22, 2011
Thursday, May 19, 2011
Tuesday, May 17, 2011
Monday, May 16, 2011
Sunday, May 15, 2011
Saturday, May 14, 2011
PM lancar projek RAPID
KUALA LUMPUR 13 Mei - Perdana Menteri, Datuk Seri Najib Tun Razak hari ini melancarkan projek Pembangunan Bersepadu Penapisan Minyak dan Petrokimia (RAPID) iaitu projek milik syarikat minyak dan gas Malaysia, Petronas.
Projek bernilai AS$20 bilion (RM60 bilion) itu akan dibina di Johor dan dijangka siap pada penghujung 2013.
RAPID akan memberi tumpuan kepada tiga sektor utama iaitu penapisan minyak mentah, penghasilan perentak nafta dan pembangunan petrokimia dan polimer kompleks. - Utusan
Petronas to build US$20bil energy complex in Johor
PETALING JAYA: Malaysian prime minister Datuk Seri Najib Tun Razak has announced plans for national oil company Petronas' detailed feasibility study for the development of a proposed refinery and petrochemical integrated development project (RAPID) in Southern Johor.
The proposed project scope will include key facilities such as a crude oil refinery, a naphtha cracker and a petrochemicals and polymer complex.
The RAPID project requires an estimated investment of US$20bil and the complex is expected to be commissioned by the end of 2016.
Thursday, May 12, 2011
Wednesday, May 11, 2011
Plans for PETRONAS to develop Johor's Pengerang into a sizeable force in the oil and gas (O&G) space are not new. Last November, the Government said PETRONAS would play a major role in the development of Johor's south-east areas of Teluk Ramunia and Pengerang into a O&G hub in the region. It was then said that the investments in the hub would come from PETRONAS and its international partners and the investments would bring major development into Johor's south-east areas and could turn Teluk Ramunia and Pengerang into a new Kertih.
PETRONAS chief executive officer Datuk Shamsul Azhar Abbas confirmed then that PETRONAS was talking with several international investors to invest in Teluk Ramunia and Pengerang. Once a sleepy fishing village in Terengganu, Kertih is now a thriving township due to O&G related activities with PETRONAS as the main driver in the O&G sector there. The PETRONAS Kertih Refinery is the national oil company's first oil refinery in Malaysia, and processes 49,000 barrels of Malaysian light, sweet crude oil per day. In total, PETRONAS owns and operates four refineries (three in Malaysia and one in South Africa) with a total refining capacity of more than 448,000 barrels per day.
The Government had also said then that while the investments would come from PETRONAS and its partners, the Government was looking into allocating money for infrastructure developments in the areas. Another aspect of the oil and gas thrust in the ETP (and which is linked to the Rapid project) is for Malaysia to venture into the lucrative area of oil trading. Singapore accounts for hundreds of billions of oil trading every year, an area of business that is virtually absent in Malaysia. According to the ETP roadmap, Singapore, by 2007, had built a significant trading business worth more than RM1 trillion in physical oil trade and RM2 trillion in derivative trades. Sources said the Government may consider providing additional incentives to attract oil trading firms to be located in Johor.