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Old June 20th, 2019, 07:10 AM   #481
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Petronas, Aramco start naphtha cracker at new Pengerang refinery

The source added that naphtha was imported this month specifically for the cracker, which had started recently though an exact time frame could not be confirmed



Sourced from TheStar today



ps so some kind of operations had stated already at RAPID Pengerang eh ???

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Old June 24th, 2019, 05:56 AM   #482
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Petronas: Our strong fundamentals remain unchanged despite downgrade

This is demonstrated by Petronas' recent financial results in the first quarter of 2019 and full year 2018, which was supported by our continuous efforts to increase operational efficiency and commercial excellence


Sourced from TheStar today



ps maybe Moody's recently changed the methodology of their ratings that had an effect on Petronas eh !!!

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Old July 1st, 2019, 06:11 AM   #483
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PCG, Plastic Energy sign MoU on addressing plastic waste
POSTED ON JUNE 28, 2019, FRIDAY AT 12:11 AM BUSINESS


Quote:
KUALA LUMPUR: Petronas Chemicals Group (PCG) yesterday signed a memorandum of understanding (MoU) with Plastic Energy Ltd, a chemical recycling company, to collaborate in addressing plastic waste that cannot be recycled by conventional means in Malaysia.

The strategic collaboration marks the first step towards a circular economy which maximises the plastics value chain.

PCG and Plastic Energy will jointly perform a feasibility study to establish a facility to convert plastic waste into an optimal feedstock (Tacoil) to create recycled virgin-quality plastics from low quality, mixed plastic waste otherwise destined for incineration or landfill.


“Depending on the outcome of the study, PCG and Plastic Energy may consider building a commercial plant in Malaysia,” said PCG in a statement.

The collaboration will enable PCG to utilise Tacoil, produced by Plastic Energy for polymer production at its petrochemical complex, the Pengerang Integrated Complex, and obtain circular polymer certification from International Sustainability and Carbon Certification (ISCC).

Plastic Energy has successfully commercialised a patented thermochemical conversion technology to convert end-of-life, contaminated plastics and plastics that are hardly recyclable for conventional processes into usable feedstock. Currently, Plastic Energy has established two commercial plants in Seville and Almeria, Spain.

Once materialised, PCG will be the first petrochemical company in Southeast Asia to invest in a chemical recycling project which converts mixed plastics waste into virgin quality polymer.

PCG managing director/chief executive officer (CEO) Datuk Sazali Hamzah said the partnership with Plastic Energy is in line with the company’s plan towards becoming a progressive energy and solutions partner that enriches lives for a sustainable future.

Founder and CEO of Plastic Energy, Carlos Monreal said : “Malaysia has shown that it is serious about tackling the challenge of plastics waste.

“We are excited to be part of the solution, and to collaborate with PCG in changing the paradigm and turning plastics waste into a valuable resource, thereby contributing to the creation of a circular economy.” — Bernama
https://www.theborneopost.com/2019/0...plastic-waste/
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Old July 1st, 2019, 06:41 AM   #484
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Petronas says Anuar remains in his position

It said in a statement that Mohd Anuar remained in his position as Petronas EVP and CEO of upstream activities


Sourced from TheStar today



ps so some media reports cannot be relied upon meh hehehe !!!

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Old July 30th, 2019, 05:32 AM   #485
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PCG to spend US$12 billion for future deals
POSTED ON JULY 27, 2019, SATURDAY AT 12:11 AM BUSINESS
Shamsairi Mohd Ibrahim


Quote:
KOTA TINGGI: Petronas Chemicals Group Bhd (PCG) has earmarked about US$12 billion to be spent over the next 18 years for future deals, with the focus on specialty chemicals.

Head of commercial Shamsairi Mohd Ibrahim said this plan also includes mergers and acquisitions (M&As) as well as identifying more projects especially those that fulfil the company’s three-pronged growth levers.

To date, he said PCG has shortlisted 20 projects in derivatives and specialty chemicals to be potentially developed at the Petronas Refinery and Petrochemical Integrated Development (RAPID) in Pengerang, Kerteh in Terengganu or elsewhere in the world.

“Da Vinci is one of the projects that we have acquired…and more will be coming.

“Those are projects (20 projects) that we have earmarked, but there are also companies that are knocking on our door that want us to be their partners, so those are the things that we are evaluating,” he told reporters at a media familiarisation visit to the petrochemical project site at the Pengerang Integrated Complex (PIC) in Pengerang on Thursday.


In May, PCG acquired Da Vinci Group B.V., a Netherlands-based company, marking its foray into specialty chemicals markets as the latter has global operations in those markets. Shamsairi said all these are in line with their strategy as they target 25 per cent of the product portfolio to come from differentiated and specialty products by 2037.

“Currently, specialty products only account for barely two per cent (of the total product portfolio), then the isonanol will increase (the specialy portfolio) to five per cent, and we will continue to put on new capacity so by 2037, we target 25 per cent of the product portfolio is based on those products, differentiated and specialty products,” he said.

Specialty chemicals can be used to produce perfume, vitamins as well as animal feeds.

The group’s business is primarily in the manufacturing, marketing and selling of a diversified range of chemical products including olefins, glycols, polymers, fertilisers, methanol and other derivatives products.

It has a total combined production capacity of 12.8 million tones per annum with operations spanning across seven world-class production sites in Malaysia, two of which are fully vertically integrated from feedstock to derivatives and specialty chemicals. — Bernama
https://www.theborneopost.com/2019/0...-future-deals/
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Old July 31st, 2019, 09:10 PM   #486
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Petronas, Japan's JXTG may buy stake in India's Bina oil refinery — source
Reuters July 29, 2019 18:29 pm +08
Quote:
MUMBAI (July 29): Petroliam Nasional Bhd (Petronas) and a consortium led by Japan's JXTG Holdings Inc are among the companies interested in buying a stake in India's Bina oil refinery, a source close to the matter said.

The Bina plant in central India, capable of processing 156,000 barrels per day (bpd) of crude oil, is operated by Bharat Oman Refineries Ltd (BORL), a 50-50 joint venture between Oman Oil Co and state-run Bharat Petroleum Corp (BPCL).

"There are a new set of companies who have approached BPCL for a stake in its Bina refinery," said the source, who asked not to be named as the discussions are private.

BPCL plans to double the capacity of the refinery in next five years and build a petrochemical complex that would require an investment of about 500 billion rupees (US$7.24 billion), the source said.

Bharat Petroleum did not respond to a request for comment. Petronas and JXTG were not immediately reachable for comment.
https://www.theedgemarkets.com/artic...2%80%94-source
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Old August 24th, 2019, 05:23 PM   #487
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https://www.petronas.com/ws/sites/de...ort-2017_0.pdf



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Old September 20th, 2019, 02:46 PM   #488
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Petronas posts higher 2Q earnings amid weaker ringgit, expects lower dividend payment to govt
Ahmad Naqib Idris September 20, 2019 13:28 pm +08
Quote:
KUALA LUMPUR (Sept 20): Petroliam Nasional Bhd (Petronas) posted an 8% increase in its net profit for the second quarter ended June 30, 2019 (2QFY19), to RM14.7 billion, from RM13.6 billion a year earlier, as the ringgit weakened against the US dollar.

Revenue for the quarter was marginally lower at RM59.1 billion, compared with RM59.2 billion in the previous year's corresponding quarter.

The marginal decline in its topline was attributed to lower average realised prices for petroleum products and liquefied natural gas (LNG), which was partly offset by higher sales volume for crude oil and condensates, as well as LNG, coupled with the weakening ringgit against the greenback.

For the first half of the year (1HFY19), net profit rose 9% to RM28.9 billion from RM26.6 billion a year earlier, on the back of higher revenue of RM121.1 billion against RM117.2 billion in 1HFY18.

During the period, Petronas made RM15.7 billion in capital expenditure (capex), largely attributable to upstream projects.

Petronas president and group CEO Tan Sri Wan Zulkiflee Wan Ariffin said the group's expenditure year-to-date is slightly behind its budgeted capex for the year, but added that investments will pick up in the second half of the year.

"Our year-end projection remains at RM50 billion and we will catch up in the second half of the year. We have about RM35 billion in investments to be made, and it's about a 50:50 split between Malaysian and international investments," he said during a media briefing on the group's performance today.

Wan Zulkiflee attributed the delay in capex spending to certain agreements that could only potentially be finalised in the second half of the year.

On the group's Refinery and Petrochemical Integrated Development (RAPID) project, he said the US$27 billion Pengerang Integrated Complex (PIC) is on track to achieve commercial operations in the fourth quarter of 2019, as overall progress stood at 99.7% as at June 30.

He also touched on the dividend expectations for next year, expecting a lower dividend payment to the government in 2020 compared to the RM54 billion paid in 2019.

"Petronas continues to deliver a healthy financial performance for the first half of 2019 despite persistent challenging market conditions.

"Our growth journey will continue to be guided by our three-pronged strategy and we will progress with our efforts to build the organisation's resiliency in facing anticipated prolonged market volatility and changing energy landscape," he said.
https://www.theedgemarkets.com/artic...d-payment-govt
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Old September 24th, 2019, 12:33 PM   #489
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Petronas partners Korea Midland Power to explore LNG, RE business opportunities
Wong Ee Lin September 23, 2019 17:39 pm +08

Quote:
KUALA LUMPUR (Sept 23): Petroliam Nasional Bhd (Petronas) said its unit, Petronas LNG Ltd, has signed a memorandum of understanding (MoU) with Korea Midland Power Co Ltd (Komipo) to explore business opportunities in liquefied natural gas (LNG) and renewable energy (RE).

Both parties intend to evaluate, discuss and conduct a study on LNG infrastructure, power business and RE opportunities, said Petronas in a statement today.

"This MoU with Komipo represents our commitment in being a reliable energy and solutions provider and we look forward to this venture with Komipo," Petronas LNG chairman Ahmad Adly Alias said in the statement.

Komipo president and chief executive officer Park Hyung Koo said the MoU would enable both sides to lay the foundation for business relations in the LNG and RE business.
https://www.theedgemarkets.com/artic...-opportunities
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Old September 30th, 2019, 02:47 PM   #490
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Petronas among companies Bangladesh shortlists for spot LNG tender
Reuters September 30, 2019 15:39 pm +08
Quote:
DHAKA (Sept 30): Bangladesh has shortlisted 17 companies for its spot tender process as it plans to buy around 1 million tonnes of liquefied natural gas (LNG) next year to capitalise on lower prices for the super-chilled fuel, two company officials said.

Petrobangla, in charge of LNG imports into the South Asian country, plans to sign sales and purchase agreements with the shortlisted companies after it receives cabinet approval, the officials with direct knowledge of the matter said.

“We are moving ahead with plans to import LNG through the spot market by shortlisting 17 companies out of a total of 43,” one of the Petrobangla officials said.

The companies shortlisted are Mitsui, Marubeni, Osaka Gas, AOT Energy, Diamond Gas, Summit Oil & Shipping, Excelerate Energy, Jera, Gazprom, Vitol, Trafigura, Woodside Petroleum, Eni, Petronas, CNOOC, Cheniere and Chevron, the official said.

Asian spot LNG prices are currently at their lowest in years due to new supply entering the market from the United States, and as demand growth slows in major economies.

Traders who sign the sales and purchase agreements will then be able to participate in spot tenders Petrobangla will issue when cargoes are needed, said the officials, who declined to be identified because they are not authorised to talk to the media.

One of the officials said the state-owned company could buy about 1 million tonnes next year through the spot market.

The nation of 160 million people is expected to become a major LNG importer in Asia, alongside Pakistan and India, as domestic gas supplies fall.

Bangladesh's annual imports of liquefied natural gas (LNG) could nearly triple to at least 10 million tonnes over the next three to four years, Tawfiq-e-Elahi Chowdhury, energy adviser to Bangladesh's prime minister, told Reuters on Thursday.

The country currently has two floating storage and regasification units (FSRUs) with a total regasification capacity of 1 billion cubic feet per day — equal to about 7.5 million tonnes a year.

It is also building a land-based terminal that can handle 7.5 million mtpa of LNG, expected to be ready in five years.

Petrobangla already imports about 300-400 million cubic feet per day of LNG — equivalent to 3.5 million tonnes a year in total — through two long-term contracts with Oman and Qatar.

Bangladesh has a 10-year LNG import deal with Oman Trading International. That LNG is priced at 11.9% of the three-month average price of Brent crude oil plus a constant price of 40 cents per million British thermal units (mmBtu).

Under its 15-year deal with Qatar, Bangladesh pays 12.65% of the three-month average price of Brent oil, plus a constant of 50 cents per mmBtu.

Last year, Bangladesh scrapped a deal with Swiss energy trader AOT Energy, which had been close to being finalised.
https://www.theedgemarkets.com/artic...pot-lng-tender
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Old October 9th, 2019, 01:54 PM   #491
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Petronas to supply LNG to Korea Midland Power for 5 years
By NST Business - October 9, 2019 @ 5:55pm
Quote:
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) through its subsidiary Petronas LNG Ltd has entered into a liquefied natural gas (LNG) sale and purchase agreement with Korea Midland Power Co Ltd.

Under the agreement, the oil and gas giant said Korea Midland has agreed to purchase 0.24 million tonnes per annum of LNG from Petronas LNG on a delivery ex-ship basis for five years, beginning 2020.

Petronas vice president of LNG marketing and trading Ahmad Adly Alias said this helps build a relationship with one of South Korea’s largest power generation companies, Korea Midland Power and increase its customer base in the region.

This also demonstrates Petronas LNG’s growing capabilities to provide clean energy solutions as a partner for a sustainable future, Adly added.

Korea Midland Power president and chief executive officer Hyung Koo Park said: “It is really meaningful to us in many ways to build a good business relationship with Petronas LNG.”
https://www.nst.com.my/business/2019...-power-5-years
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Old October 11th, 2019, 03:26 PM   #492
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Petronas wins three exploration blocks in Brazil
By NST Business - October 11, 2019 @ 4:11pm
Quote:
KUALA LUMPUR: Petronaliam Nasional Bhd, subsidiary Petronas Petróleo Brasil Ltda (PPBL), has won three exploration blocks during Brazil’s exploration blocks bid round in Rio de Janeiro yesterday.

PPBL won blocks CM 661, CM 715 and CM 541, all located in the Campos Basin, offshore Brazil.

PPBL owns 100 per cent of Blocks CM 661 and CM 715.

For Block CM 541, Total of France holds a 40 per cent equity, Qatar Petroleum (40 per cent) and PPBL holds the remaining 20 per cent.

Petronas president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said it looked forward to further strengthening and developing its ventures in Brazil, one of the world’s most prolific basins.

“Following the execution of the sale and purchase agreement to acquire stakes in Tartaruga Verde and Module III of Espadarte fields in April 2019, which is currently subject to closing conditions, this round of successful bids further enhances Petronas’ global growth strategy as the company diversifies and expands its oil business portfolio in the South American region,” he added.

Aside from upstream, Petronas also has other ventures in Brazil including Petronas Lubrificantes Brasil S.A, a subsidiary of Petronas Lubricants International, and logistics business through MISC Bhd.
https://www.nst.com.my/business/2019...-blocks-brazil
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