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Old December 4th, 2007, 02:49 AM   #61
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Tuesday December 4, 2007


Petronas completes FL Selenia buy

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has completed the acquisition of the entire interest in FL Selenia SpA, Europe's largest independent producer and marketer of branded automotive lubricants and specialist fluids, from Kohlberg Kravis Robert & Co LP.

In a statement, Petronas said the move was part of continuous efforts to build and enhance its global lubricants business.

According to Petronas, the acquisition brings another strong brand to the company's business and adds critical mass to its lubricants markets in Europe, together with strong original equipment manufacturing (OEM) relationships and world-class research and development capabilities.

“It will provide Petronas a better position to further penetrate the high growth Asian lubricants markets,” it said.

Italy-based FL Selenia has operations across Europe, South America and the United States, producing high-end lubricants, transmission, anti-freeze and specialist fluids for automobiles, truck, agricultural tractors, earth-moving machinery and other industrial equipment.

Petronas already has a strategic arrangement with FL Selenia which markets Petronas' high-end Syntium synthetic lubricants in some parts of Europe while Petronas provides a similar service for FL Selenia's products to certain original equipment manufacturers in China. – Bernama
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Old December 4th, 2007, 06:22 AM   #62
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December 04, 2007 13:04 PM

Petronas Turning Focus On Deepwater Field


KUALA LUMPUR, Dec 4 (Bernama) -- Petroliam Nasional Bhd (Petronas) is now focusing its efforts in deepwater areas locally, according to a company official.

"We are shifting development focus on the deepwater field," Zamri Jusoh, senior manager for research development of Petronas Management Unit, told reporters on the sidelines of the Oil and Gas Forum here today.

The national oil company recently made significant discoveries in the deepwater areas off Sabah and Sarawak, he said.

Petronas was also working on rejuvenating the brown field all over Malaysia, Zamri said.

The company has embarked on more than 90 projects and was reviewing further development programmes to sustain the production level as well as to increase its resource base, he said.

He also said that Petronas was also pursuing its efforts overseas.

On production, Zamri said Petronas was hoping to maintain its production at 600,000 barrels per day for the next five years.

He said domestic oil reserves were currently at four billion barrels while overseas reserves amounted to one billion barrels.

Asked if biofuel was one of the areas that Petronas might want to venture, Zamri said: "We are not ruling anything out. At the moment, our focus is natural oil and gas resources but I think as we move into the future, we cannot afford to ignore the importance of biofuel and biodiesel."

Hence, he said, Petronas was refocusing its research and development division to look at unconventional resources.

-- BERNAMA
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Old December 5th, 2007, 01:19 AM   #63
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French research institute, Petronas ink pact



INSTITUT Francais Du Petrole (IFP), a French oil and gas research and development, training and information services organisation, has signed a memorandum of understanding (MoU) on future collaboration with Petronas.


IFP group international relations director Daniel Champlon said the MoU will pave the way for strategic alliance between the company and Petronas, especially in the field of consultancy and technology.


"We think that this will also be a good starting point to enhance cooperation between the two companies," he said after the opening of an oil and gas forum jointly organised by the French Embassy here and the Malaysian French Chamber of Commerce and Industry in Kuala Lumpur yesterday.


"We have a long-lasting relationship with Petronas. We have existing agreements signed 15-20 years ago, but these agreements were for technologies that were considered innovative at that time. We have to start negotiating new agreements which will be based on a new and innovative technology."


Champlon said based on the MoU, both parties will later discuss on a project-by-project basis on specific areas of collaboration. He noted that Petronas has been a good client for IFP for a very long time, especially in the traditional refining processing.


"We will be collaborating in such field, as well as in training and development of research and technology," he said, adding that IFP subsidiary BeicipFranlab will open a branch office in Kuala Lumpur in the first quarter of next year.


BeicipFranlab exploration and production software director Remi Mouchel said the Kuala Lumpur branch office will develop and promote software to be used by Petronas.


"The top priority of this branch office is to carry out local technical support to Petronas. We signed several important agreements in the last 12 months with Petronas," he said adding that said the office will also support the firm's activities in Southeast Asia.
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Old December 6th, 2007, 01:27 AM   #64
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Petronas H1 profit rises to RM29bil

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) said fiscal first-half profit rose 7.6% on increased earnings from its crude oil and liquefied natural gas (LNG) production.

Net income for the six months ended Sept 30 rose to RM29.4bil from RM27.3bil a year earlier, the company said on its website yesterday.

Petronas benefited from higher oil and gas prices as global demand for energy surged, led by consumption in China. Crude oil in New York rose 34% in the year to Sept 30.

Sales rose 16% to RM102.9bil while revenue from crude oil production climbed 20% to RM20.75bil. Revenue from gas output gained 1.5% to RM1.5bil and LNG sales jumped 15% to RM15.4bil.

Petronas’ total oil and gas production climbed 7.9% to the equivalent of 1.76 million barrels of oil and gas a day. Domestic output accounted for 65% of production while the rest came from international operations.

The company has been drilling in deepwater areas off Malaysia as it steps up findings amid higher oil and gas prices. In August, Petronas said it began pumping oil from the Kikeh field off Sabah.

Petronas produces Tapis crude, among the most expensive benchmark oil in the world.

The explorer produces oil and gas in Vietnam, Myanmar, Indonesia, Sudan, Iran, Chad, Egypt, Pakistan and Turkmenistan.

Malaysia’s oil and gas production in the six-month period rose 3.4% to the equivalent of 1.6 million barrels of oil a day, Petronas said.

The oil company accounted for 72% of the nation’s oil and gas output. – Bloomberg
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Old December 9th, 2007, 11:20 AM   #65
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Petronas may up bid for Star Energy: Analysts

Petronas has sufficient cash to raise its bid, says a fund manager. According to its first-half results, Petronas had RM71.5 billion of cash as of Sept 30

PETROLIAM Nasional Bhd (Petronas), Malaysia's state oil company, may raise its bid for Star Energy Group plc after the UK gas-storage operator said last month's offer was too low, analysts and investors said.

The Kuala Lumpur-based oil producer said on November 14 it planned to offer about £207 million (RM1.4 billion) for the 61 per cent of Star it doesn't own. The bid "undervalues" the business, Star said on Thursday. Sabri Said, a spokesman for Petronas, declined to comment.

"It makes sense for them to possibly look at a higher bid," said Ravi Krishnaswamy, Singapore-based head of Frost & Sullivan's Asia Pacific energy and power division. "The UK is gas-thirsty and short on storage capacity."

Petronas is seeking control as Star considers an offshore project in the North Sea that would be 50 per cent bigger than Rough, Britain's biggest gas-storage site. By controlling the London-based company, Petronas would pay less to store its gas while charging others for use of the facilities, Ravi said.

Petronas had RM71.5 billion of cash as of September 30, according to its first-half results on December 5.

"It goes without saying that Petronas has sufficient cash to raise its bid," said Pankaj Kumar, who manages about US$460 million (RM1.35 billion) as chief investment officer at Kurnia Insurans Bhd in Petaling Jaya.

Profit in the six months ended September 30 rose 7.6 per cent to RM29.4 billion as Petronas earned more from crude oil and liquefied natural gas production (LNG). The LNG and gas processing division accounted for 18 per cent of sales during the period.

Star directors will publish their opinion on the offer from Petronas "as soon as practicable," the company said in its statement on Thursday. - Bloomberg
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Old December 10th, 2007, 02:55 AM   #66
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Petronas awards Sarawak block to Nippon Oil, Carigali

Email us your feedback at fd@bizedge.com


KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), which is looking at a possible revival of onshore exploration activities in Malaysia, has awarded a production sharing contract (PSC) to Nippon Oil Exploration Ltd (NOEX) and Petronas Carigali Sdn Bhd.

Petronas said the PSC, which was for the onshore block SK333 in Sarawak, signalled the possible revival of active onshore exploration activities in Malaysia, as part of its efforts to enhance Malaysia’s hydrocarbon reserves.

The block, covering 3,100 sq km, is in the Baram area of Sarawak, the site of thriving exploration activities in the early 1900s.

The block was part of a concession awarded to Shell in 1907 where Miri, the country’s first oil field was discovered. About 80 million barrels of oil was produced from the Miri field before the block was relinquished by Shell in 1981.

Petronas said under the terms of the PSC awarded on Dec 7, NOEX, with 75% participating interest, would operate the block while Petronas Carigali owns the remaining 25%.

“The partners will acquire and process 500 line km of 2D seismic data and drill two wildcat wells with an aggregate depth of 4,000 metres. An airborne gravity and magnetic survey over the block will also be conducted. The minimum financial commitment to the block is US$40 million (RM135.2 million),” it said.

The signing ceremony for the PSC was held in Kuala Lumpur. Petronas was represented by its vice president of exploration and production business Ramlan Abdul Malek, NOEX by its president/chief executive officer Teruo Omori and Petronas Carigali by its managing director/CEO Datuk Abdullah Karim.
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Old December 11th, 2007, 09:39 AM   #67
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December 11, 2007 15:55 PM

Petronas To Explore And Produce Oil In Uzbekistan


KUALA LUMPUR, Dec 11 (Bernama) -- Petronas is to explore as well as produce oil and set up petrochemical projects in Uzbekistan under three agreements it has signed with the Uzbek government and national oil company Uzbekneftegaz National Holding Company (UNG).

The agreements enable Petronas to undertake exploration in the Surkhanski block and operate on a production sharing basis at the Baisun block, it said in a statement here today.

Both blocks are adjacent to each other in the Surkhandarya region in southern Uzbekistan.

These two agreements were signed by its wholly-owned subsidiary, Petronas Carigali Overseas Sdn Bhd (PCOSB).

PCOSB will carry out exploration work in the 7,200 sq km Surkhanski block that will subsequently pave the way for a production sharing agreement upon discovery of hydrocarbons.

Under the third agreement, Petronas and UNG will undertake joint studies which will pave the way for them to co-operate in the development of downstream petrochemical projects.

UNG operates ethylene and polyethylene manufacturing plants at the Shurtan Gas Chemical Complex in the Qashqadaryo province.

-- BERNAMA
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Old December 12th, 2007, 02:34 AM   #68
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Petronas steps up Uzbek ventures



The exploration pacts for two blocks will enhance Petronas presence in Uzbekistan's upstream sector and a pact for petrochem projects will boost its downstream portfolio there

STATE-OWNED Petroliam Nasional Bhd (Petronas) has signed three key agreements in Tashkent, Uzbekistan, boosting its presence and strengthening its business portfolio there.


Petronas, through wholly-owned Petronas Carigali Overseas Sdn Bhd (PCOSB), signed a deal on activities and main principles for the Baisun Block production-sharing agreement (PSA) and an exploration agreement for the Surkhanski Block with the Uzbekistan government in Tashkent yesterday.


Both blocks are located adjacent to each other in the Surkhandarya region, south of the country.


Petronas also signed a memorandum of cooperation (MOC) for petrochemical projects with the Uzbek national oil company Uzbekneftegaz National Holding Co (UNG).


Petronas was represented by its president and chief executive officer Tan Sri Mohd Hassan Marican, while the Uzbek government and UNG were represented by Deputy Prime Minister Ergash Shaismatov and chairman Ahmedov Nurmuhammad Ahmedovich, respectively.


The agreement on activities and main principles for the Baisun Block PSA outlines the main principles and provisions for the PSA.


Under the PSA, which PCOSB expects to enter into next year, the firm will hold a 100 per cent equity stake and will be the operator for the block.


Currently, it is already undertaking exploration work in the block, measuring 3,150 sq km, under a joint-study agreement signed with UNG in 2005.


The exploration agreement for the Surkhanski Block grants PCOSB the rights to carry out exploration work in the block, measuring 7,200 sq km, and will subsequently pave the way for a PSA upon discovery of hydrocarbons.


The agreements for the two blocks will enhance Petronas' presence in the upstream sector of Uzbekistan.


PCOSB is already actively involved in the Aral Sea PSA, in which it has 20 per cent equity.


Other partners in the venture, which is currently in exploration stage, are UNG, CNPC International Ltd, Korea National Oil Corp and Lukoil Overseas Holding Ltd.


Meanwhile, the MOC for petrochemical projects allows Petronas and UNG to undertake joint studies and paves the way for the two parties to cooperate in the development of downstream petrochemical projects in Uzbekistan.


UNG currently operates ethylene and polyethylene manufacturing plants at the Shurtan Gas Chemical Complex in the Qashqadaryo province.
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Old December 12th, 2007, 02:48 AM   #69
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Petronas pays RM34b royalties to 3 states

PETRONAS has paid royalties totalling RM33.6 billion to the Terengganu, Sabah and Sarawak governments until its financial year which ended last March 31, the Dewan Rakyat heard today.

Parliamentary Secretary in the Prime Minister’s Department Datuk Dr Mashitah Ibrahim said the three states, as petroleum producers, had benefited greatly from the development of the oil & gas industry in Malaysia that is being undertaken by Petronas.

“Based on the production sharing contracts, they received royalties on the oil and gas extracted off their coasts,” she said in reply to Datuk Madius Tangau (BN-Tuaran).

Dr Mashitah said the intensive upstream and downstream development of the petroleum-based sector carried out by Petronas and other companies, especially in the three states, had generated multiplier effects.

“These include the provision of infrastructure facilities, business opportunities and job openings for the local people.”

This also helped spur economic activities and raised the living standards of the people in the vicinities as well as the overall economic development in the three states, she added. - Bernama
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Old December 27th, 2007, 10:20 AM   #70
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Pertamina beats Petronas for subsidised fuel licence

State-owned Pertamina will oversee the distribution of an estimated 9.47 billion gallons of subsidised fuel in Indonesia in 2008

JAKARTA: Indonesia’s state-owned Pertamina has edged out Malaysia’s Petronas and a local competitor to win approval to distribute subsidised fuel in Indonesia in 2008, the oil and gas regulator said today.

The approval will allow Pertamina to oversee the distribution of an estimated 35.84 million kilolitres (9.47 billion gallons), BPH Migas head Tubagus Haryono said.

The 2008 licensing process saw competitors apart from Pertamina permitted to compete for the first time.

Haryono said the companies that had sought licences were local company Aneka Kimia Raya (AKR), Malaysia’s state-owned Petronas, Royal Dutch Shell, Total, and BP.

“Of the six companies, Pertamina, AKR and Petronas qualified. But judging from all aspects, only Pertamina is better prepared,” he said.

“AKR and Petronas’ weakness is lack of infrastructure,” he said, referring to the limited number of gas stations and fuel storage facilities owned by the two.

The Indonesian government subsidises about 60 per cent of nationwide fuel consumption.

The government last hiked prices in October 2005 by an average of 126 per cent, triggering a spike in inflation and interest rates. - AFP
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Old December 31st, 2007, 08:37 AM   #71
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Petronas, Shell, Conoco in gas block deal

The three will be involved in the exploration, development and production of natural gas from the Kebabangan Cluster fields, offshore Sabah

PETROLIAM Nasional Bhd (Petronas) has awarded a production sharing contract (PSC) to Shell Energy Asia Ltd, ConocoPhillips Sabah Gas Ltd and Petronas Carigali Sdn Bhd for the exploration, development and production of natural gas from the Kebabangan Cluster fields, offshore Sabah.

Under the contract, Petronas Carigali, the exploration and production arm of Petronas, has a 40 per cent interest in the PSC while Shell Energy Asia and ConocoPhillips have a 30 per cent stake each.

A joint operating company, Kebabangan Petroleum Operating Company Sdn Bhd, has been formed to operate the venture on behalf of the partners, Petronas said in a statement.

The natural gas produced from the fields is expected to be piped to the Sabah Oil and Gas Terminal, which is now under construction.

The gas fields in the Kebabangan Cluster, comprising the Kebabangan, Kamunsu East, Kamunsu East Upthrown and Kamunsu East Upthrown Canyon, are located about 130 kilometres offshore Sabah. — Bernama
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Old February 4th, 2008, 01:19 AM   #72
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Petronas CEO is 52nd
By Kamarul Yunus Published: 2008/02/04



Tan Sri Mohd Hassan Marican is one of only three Asians ranked among Ethisphere's 100 most influential people in business ethics

PETROLIAM Nasional Bhd (Petronas) president and chief executive officer (CEO) Tan Sri Mohd Hassan Marican has been named among Ethisphere's 100 most influential people in business ethics.

He is one of only three Asians in the list, the other two being Indonesian President Susilo Bambang Yudhoyono and the mistress of Chinese navy deputy commander Wang Shouye.

Mohd Hassan was ranked 52nd most influential in business ethics by the New York-based magazine Ethisphere, which is widely read by corporate executives. Susilo was ranked 23rd and Wang's mistress 85th.

According to Ethisphere, Mohd Hassan sits on the boards of a few socially-minded groups, including the Commonwealth Business Council and the World Economic Forum's Partnering Against Corruption Initiative (PACI).

Ethisphere said Mohd Hassan is one of three business people on PACI's board, and the only board member from the Far East, who help move the anti-corruption debate from only western corporations and proactively engage those from the Far East as well.

According to Ethisphere, the World's Most Ethical (WME) companies methodology analyses companies that go beyond making statements about doing business "ethically", to translate those words into action.

Ethisphere said WME winners demonstrate real and sustained ethical leadership within their industries, putting the council's credo of "good, smart, business, profit" into real business practice.

To gather the information to measure industry leaderships against the none criteria, Ethisphere researchers and editors screened thousands of companies across the globe through a rigorous multi-step process.

The Ethisphere's 100 most influential people in business ethics are divided into nine main categories, namely government and regulatory; business leadership; non-government organisation; design and sustainability; media whistleblowers; thought leadership; corporate culture; investment and research; and legal and governance.

Other distinguished persons in the list include Nobel Laureate and former US vice president Al Gore, California Governor Arnold Schwarzenegger, Virgin Group founder and chairman Sir Richard Branson, Wal-Mart president and CEO H. Lee Scott Jr, General Electric chairman and CEO Jeffrey R. Immelt, Nike president and CEO Mark Parker, Tesco CEO Terry Leahy, Dell chairman and CEO Michael Dell, Edelman president and CEO Richard Edelman, Xerox chairman and CEO Anne M. Mulcahy, and Marks & Spencer CEO Stuart Rose.
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Old February 4th, 2008, 03:23 PM   #73
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Original URL: http://www.theregister.co.uk/2008/02...gas_fuel_test/
A380 superjumbo in natural-gas powered test flight
By Lewis Page
Published Monday 4th February 2008 14:03 GMT

The world's largest passenger airliner, the Airbus A380, has successfully made a test flight using synthetic jet fuel partly made from natural gas. The test is the latest step in moves by airliner builders and operators to diversify the sources of their fuel supplies.

Reuters reports (http://www.reuters.com/article/envir...080202?sp=true) that the monster double-decker superjumbo flew from the Airbus company facility at Filton near Bristol to Toulouse in France, the aircraft's main manufacturing base. The plane, which needed no modifications to use the new fuel, ran on a blend of 60 per cent regular jet fuel and 40 synthetic.

The synthetic fuel was made in Malaysia using the so-called "Gas To Liquid" (GTL) process, analogous to the Fischer-Tropsch method used to make fuel from coal. GTL is still fossil fuel, but its availability allows airlines to buy from a wider range of suppliers. With volatile Gulf-area politics having such a serious effect on world oil supplies, this is seen as well worthwhile by industry titans such as Airbus and its great rival Boeing (http://www.theregister.co.uk/2007/12...ofuel_testing/). The US Air Force, too, is working hard (http://www.theregister.co.uk/2007/10...ynthetic_fuel/) to shake off its current dependence on crude, too.

In future if now right now, there might be some prospect of carbon reductions. Airbus' Sebastien Remy told Reuters that the company is "preparing for (the) emergence of a wider slate of synthetic fuels". He said that Airbus would like to run its jets on biomass feedstocks rather than fossil ones in future, though it is keen to avoid the controversial use of food crops.

That mirrors Boeing's stated plans, and chimes with a recent decision by Shell to take another look at saltwater algae as a fuel feedstock.

Meanwhile, Remy predicted that Qatar Airways might be the first airline to use natural-gas GTL fuel in A380s. Qatar has huge reserves of gas, and plans to build a GTL plant in partnership with Shell by 2011. The national carrier will get its first A380 in 2009. ®
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Old July 11th, 2008, 05:37 AM   #74
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Petronas unggul
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PETRONAS di kedudukan pertama di Asia senarai syarikat paling untung selain kelapan di dunia tahun lalu dalam senarai Fortune Global 500 majalah perniagaan Fortune.

Syarikat petroleum negara itu mengatasi syarikat terkemuka dunia lain seperti Microsoft, Toyota, Bank of America, Total dan JP Morgan apabila meraih keuntungan AS$18.118 bilion tahun lalu.


Selain itu, Petronas menduduki tangga ke-95 dalam senarai keseluruhan Fortune Global 500 yang menyenaraikan 500 syarikat terbesar dunia berdasarkan pendapatan.

Senarai syarikat paling untung di dunia didahului Exxon Mobile diikuti Royal Dutch Shell, General Electric, BP, Gazprom, HSBC Holdings dan Chevron.


Syarikat minyak Itali, Total dan bank pelaburan antarabangsa JP Morgan pula masing-masing berada di tempat kesembilan dan ke-10.


Di kalangan syarikat Asia, Petronas yang meraih pendapatan AS$66.22 bilion tahun lalu berada di kedudukan ke-16.

Senarai 10 syarikat paling besar dunia tahun lalu didahului Wal-mart Stores yang meraih pendapatan AS$378.799 bilion, diikuti Exxon Mobile, Royal Dutch Shell, BP, Toyota Motor, Chevron, Ing Group, Total, General Motors dan Conoco Philips.

Senarai 10 syarikat paling besar di Asia dikuasai syarikat dari Jepun, China dan Korea didahului Toyota Motor (Jepun), diikuti Sinopec, State Grid dan China National Petroleum (China), Samsung Electronics (Korea Selatan), Honda Motor, Hitachi, Nissan Motor, Nippon Telegraph (Jepun) dan LG (Korea Selatan).
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Old July 11th, 2008, 05:39 AM   #75
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well done!
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Old July 11th, 2008, 06:12 AM   #76
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Old July 11th, 2008, 06:27 AM   #77
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Fortune Global 500
From the July 21, 2008 issue

Code:
Rank   Company            Revenues ($ millions) Profits ($ millions) 
1      Wal-Mart Stores    378,799               12,731 
2      Exxon Mobil         372,824              40,610 
3      Royal Dutch Shell   355,782              31,331
Code:
95     Petronas             66,218              18,118
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Old July 15th, 2008, 06:41 AM   #78
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Petronas profit jumps to record RM61b
Published: 2008/07/15


Full-year net profit rose to RM61 billion, a 31 per cent surge from a year ago, thanks to higher crude, petrochemical and liquefied natural gas prices

PETROLIAM Nasional Bhd, Malaysia’s state oil company, said full-year profit jumped to a record because of higher crude, petrochemical and liquefied natural gas prices.

Net income in the year ended March 31 2008 climbed 31 per cent to RM61 billion (US$19 billion) from RM46.4 billion a year earlier, Petronas, as the company is known, said in a statement in Kuala Lumpur today.

Revenue gained to RM223.1 billion from RM184.1 billion.

Oil prices in New York almost doubled in the past year, reaching a record US$147.27 a barrel on July 11, as a weaker dollar increased the appeal of commodities as a hedge.

Petronas has operations in more than 33 countries including Iran, Sudan, Myanmar, Vietnam and South Africa.

“There have been supply concerns and supply shortages,” chief executive officer Tan Sri Hassan Marican told reporters today. Still, “demand is very strong and continues to be very strong.”

Petronas will pay the Malaysian government a special dividend of RM6 billion for the year ended March 31, bringing its total dividend for the period to RM30 billion, the company said. That compares with RM20 billion a year earlier.

In annual report released today, the group said its pre-tax profit increased to RM95.5 billion, up 25.2 per cent from RM76.3 billion previously.

Total assets surged to RM339.3 billion or 15.2 per cent from RM294.6 billion last year.

Shareholders fund improved to RM201 billion from RM170.9 billion, an increased of 17.6 per cent.

The biggest contributor to Petronas’ revenue was from its international operations which constituted 40.3 per cent of the group’s earnings.

Export and domestic operations contributed 38.9 per cent and 20.8 per cent, respectively.

The international operation posted RM90 billion in revenue, an increase of 33.1 per cent from RM67.6 billion from the previous year, while exports stood at RM86.8 billion from RM73.4 billion, while domestic RM46.3 billion from RM43.1 per cent. - Bloomberg, Bernama
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Old July 15th, 2008, 06:49 AM   #79
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July 15, 2008 12:27 PM

Petronas Posts Record High Revenue Of RM223.1 Bil For FY 2008, Up 21 Pct


KUALA LUMPUR, July 15 (Bernama) -- The Petronas Group delivered another record performance for the financial year ended March 31, 2008, registering a 21.2 percent increased in revenue to RM223.1 billion from RM184.1 billion in 2007, amidst a more complex and increasingly challenging global oil and gas industry environment.

In annual report released Tuesday, the group said its pre-tax profit increased to RM95.5 billion, up 25.2 percent from RM76.3 billion previously, while net profit increased to RM61 billion or 31.5 percent from RM46.4 billion.

Total assets surged to RM339.3 billion or 15.2 percent from RM294.6 billion last year. Shareholders fund improved to RM201 billion from RM170.9 billion, an increased of 17.6 percent.

The biggest contributor to Petronas' revenue was from its international operations which constituted 40.3 percent of the group's earnings.

Export and domestic operations contributed 38.9 percent and 20.8 percent respectively.

The international operation posted RM90 billion in revenue, an increase of 33.1 percent from RM67.6 billion from the previous year, while exports stood at RM86.8 billion from RM73.4 billion, while domestic RM46.3 billion from RM43.1 percent.

-- BERNAMA
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Old July 15th, 2008, 08:13 AM   #80
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Quote:
Originally Posted by travellator View Post
Original URL: http://www.theregister.co.uk/2008/02...gas_fuel_test/
A380 superjumbo in natural-gas powered test flight
By Lewis Page
Published Monday 4th February 2008 14:03 GMT

The world's largest passenger airliner, the Airbus A380, has successfully made a test flight using synthetic jet fuel partly made from natural gas. The test is the latest step in moves by airliner builders and operators to diversify the sources of their fuel supplies.

Reuters reports (http://www.reuters.com/article/envir...080202?sp=true) that the monster double-decker superjumbo flew from the Airbus company facility at Filton near Bristol to Toulouse in France, the aircraft's main manufacturing base. The plane, which needed no modifications to use the new fuel, ran on a blend of 60 per cent regular jet fuel and 40 synthetic.

The synthetic fuel was made in Malaysia using the so-called "Gas To Liquid" (GTL) process, analogous to the Fischer-Tropsch method used to make fuel from coal. GTL is still fossil fuel, but its availability allows airlines to buy from a wider range of suppliers. With volatile Gulf-area politics having such a serious effect on world oil supplies, this is seen as well worthwhile by industry titans such as Airbus and its great rival Boeing (http://www.theregister.co.uk/2007/12...ofuel_testing/). The US Air Force, too, is working hard (http://www.theregister.co.uk/2007/10...ynthetic_fuel/) to shake off its current dependence on crude, too.

In future if now right now, there might be some prospect of carbon reductions. Airbus' Sebastien Remy told Reuters that the company is "preparing for (the) emergence of a wider slate of synthetic fuels". He said that Airbus would like to run its jets on biomass feedstocks rather than fossil ones in future, though it is keen to avoid the controversial use of food crops.

That mirrors Boeing's stated plans, and chimes with a recent decision by Shell to take another look at saltwater algae as a fuel feedstock.

Meanwhile, Remy predicted that Qatar Airways might be the first airline to use natural-gas GTL fuel in A380s. Qatar has huge reserves of gas, and plans to build a GTL plant in partnership with Shell by 2011. The national carrier will get its first A380 in 2009. ®
Is Petronas really involved in this synthetic fuel?
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