Latest news with #Petronas
The Sun
13 hours ago
- Business
- The Sun
Petronas, Microsoft deepen ties to support Malaysia's AI adoption, energy transition
KUALA LUMPUR: Petronas and Microsoft signed a MoU, further extending their strategic collaboration in multiple areas across innovation and sustainability to support the development of an artificial intelligence (AI)-enabled economy and ecosystem in Malaysia, while advancing efforts towards energy transition in Asia. At the signing ceremony held on the sidelines of Energy Asia 2025, Petronas was represented by its senior vice-president of projects (technology & health, safety, security & environment) Mohd Yusri Mohamed Yusof and vice-president of group technology & commercialisation Izwan Ismail. Microsoft Malaysia was represented by its managing director Laurence Si. At Petronas, Mohd Yusri said innovation goes beyond technology – it is about shaping a future where energy is smarter, cleaner, and sustainable for not only the organisations involved, but also the nation and its people. He added their collaboration with Microsoft is driven by a shared commitment to meaningful innovation and sustainable progress. 'By harnessing our joint expertise in innovation and sustainability, we are steadfast in advancing adoption of AI and Cloud capabilities in a manner that promotes sustainable energy practices, in support of Malaysia's aspirations of building an AI economy with a robust ecosystem in which everyone thrives,' he said. Meanwhile Si said with Microsoft's new cloud region in Malaysia, they are committed to supporting Petronas with secure, scalable, and sustainable cloud solutions that will drive growth and innovation in Malaysia's energy sector. The collaboration will focus on fostering an ecosystem in Malaysia that enables organisations to harness AI's potential for economic advancement and societal benefit. With nation building at heart, the companies will support Malaysia's efforts to build regional leadership in AI capabilities and develop a strong local AI ecosystem through joint programmes. Under the collaboration, Petronas and Microsoft will explore further initiatives to intensify AI and energy innovation leveraging Microsoft's newly launched Malaysia West cloud region.
Borneo Post
15 hours ago
- Business
- Borneo Post
Dayang bags Petronas Carigali barge contract, outlook stays cautious
Despite securing new jobs, the research house remains cautious on the group's medium-term outlook due to weak macro conditions and unresolved gas aggregation issues between Petros and Petronas. KUCHING (July 31): Dayang Enterprise Holdings Bhd (Dayang) has secured a work order from Petronas Carigali Sdn Bhd (Petrona Carigali) for the provision of an accommodation work barge (AWB) for a period of 130 days, with the option to extend by another 60 days. The contract was awarded to its wholly owned subsidiary, DESB Marine Services Sdn Bhd. While the charter rate was not disclosed, the team with Kenanga Investment Bank Bhd (Kenanga Research) deemed to be in line with its estimate of RM90,000 per day. It is also assuming a vessel utilisation rate of 82 per cent, with three out of Dayang's five AWBs already securing charters. 'Hence, the win is considered mildly positive as it ensures short-term utilisation for Dayang's vessel, Emerald,' it said in a note on Thursday. Despite securing new jobs, the research house remains cautious on the group's medium-term outlook due to weak macro conditions and unresolved gas aggregation issues between Petroleum Sarawak Bhd (Petros) and Petroliam Nasional Bhd (Petronas). It added that earnings could face downside risks if uncertainties persist, as both revenue and margins may come under pressure. The research house maintained a 'market perform' call with a target price of RM1.56. Dayang's order book remains strong at RM5.1 billion, but the house said its pace of work orders for its offshore topside maintenance (TMS) division is expected to slow on a year-on-year basis. This is due to a softer crude oil price outlook, which may prompt clients to reduce spending on maintenance activities. Its marine division is also facing a weaker earnings trend compared to last year, largely due to softer demand for offshore support vessels (OSVs), with more sporadic spot charters replacing long-term contracts. However, charter rates for OSVs are still holding up for now, supported by tight local supply, said the house. corporate news Dayang Enterprise Holdings Bhd oil and gas
Daily Express
15 hours ago
- Business
- Daily Express
Load shedding to affect over 600,000 households in Sabah, Labuan
Published on: Thursday, July 31, 2025 Published on: Thu, Jul 31, 2025 By: Bernama Text Size: For illustrative purposes only. KOTA KINABALU: Load shedding operations will be carried out in Sabah and Labuan from Aug 1 to 7 due to scheduled maintenance work at the Sabah Oil and Gas Terminal in Kimanis, Papar, which is expected to affect over 600,000 households. Sabah Electricity Sdn Bhd chief executive officer Datuk Mohd Yaakob Jaafar said the maintenance work by Petronas will affect more than 200,000 domestic user accounts in Sabah and Labuan. Yaakob said the process would also cause inconvenience to users in both regions, particularly during peak hours from 10 am to 10 pm, during which each area will face supply disruptions lasting one to two hours on a rotational basis. 'Maintenance works on offshore and onshore platforms will cut off gas supply to two Independent Power Producers (IPPs) in Kimanis,' he said when contacted today. He said the two affected IPPs are the Kimanis power plant and the SPRE power plant, resulting in a loss of 195 megawatts of power in the Sabah grid system during the seven-day period. He added that initially, no power disruptions were expected during early discussions with Petronas and the Sabah Energy Commission early this year. 'However, based on information received on Tuesday (July 29), it was found that the power plants are unable to operate using alternative fuel,' he said. He also urged the public to refer to the company's Facebook page and the Sabah Electricity mobile app for more information on the load shedding schedule, including the times, dates and affected areas. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Free Malaysia Today
16 hours ago
- Business
- Free Malaysia Today
Power rationing in Sabah, Labuan from Aug 1 to 7
Sabah Electricity Sdn Bhd said the rationing is due to scheduled maintenance at Petronas's Sabah Oil and Gas Terminal. (Reuters pic) PETALING JAYA : Electricity supply in Sabah and Labuan will be rationed from Aug 1 to 7 for scheduled maintenance at Petronas's Sabah Oil and Gas Terminal. About 200,000 account holders will experience rotational outages lasting one to two hours, reported The Borneo Post. Sabah Electricity Sdn Bhd's (SESB) CEO, Yaakob Jaafar, said Petronas had informed SESB and the Energy Commission of Sabah (ECoS ) in advance about the maintenance, and preparations had been made to avoid rationing. However, two major power plants which are key contributors to Sabah's power generation – the Kimanis IPP power plant and the SPRE power plant – will not be able to operate using diesel during the shutdown. 'As a result, Sabah will lose 195MW from its power grid,' said Yaakob at a press conference in Kota Kinabalu. He said SESB is coordinating with the independent power producers, ECoS and other stakeholders to monitor the situation and reduce disruption as much as possible. Updates on affected areas and outage schedules will be available on SESB's Facebook page and mobile app.
Free Malaysia Today
16 hours ago
- Business
- Free Malaysia Today
Sabah sees O&G windfall as foreign giants commit long-term
SMJ Energy CEO Dionysia Kibat attributes sustained investor confidence in Sabah's oil and gas sector to its collaborative engagement with Petronas. (AFP pic) PETALING JAYA : Sabah is drawing robust foreign direct investment (FDI) into its oil and gas (O&G) sector, bolstering state revenue and driving local economic growth—underpinned by a strategic collaboration with Petronas. Dionysia Kibat, CEO of SMJ Energy, said leading industry players are intensifying their activities across Sabah's resource-rich basins. 'Major international O&G companies are committing towards further exploration, development and production in the state,' she told FMT in an exclusive interview, adding that the state now leads the rest of the country in near-term FDI inflows. Among them, ConocoPhillips and Pertamina are active in the Layang-Layang basin, while INPEX Malaysia and TotalEnergies hold stakes in exploration blocks off the east and west coasts. Dionysia Kibat. Meanwhile, Shell Malaysia and ConocoPhillips have extended their production-sharing contracts (PSCs) to 2050, while PTTEP Malaysia is ramping up deepwater redevelopment in Blocks H and Kikeh. Dionysia said these partnerships are already providing a substantial boost to state coffers. 'Approximately half of the state government's revenue of RM6.7 billion is derived from oil and gas activities in the form of cash payment and SST.' She attributed the sustained investor confidence to Sabah's collaborative engagement with Petronas, contrasting it with Sarawak's legalistic and litigious stance. 'To date, this collaborative partnership has demonstrated commercial and financial success for Sabah,' said Dionysia. In 2021, Sabah chief minister Hajiji Noor's administration signed a commercial collaboration agreement (CCA) with Petronas, allowing the state greater say, revenue and participation in the O&G industry while respecting national laws, including the Petroleum Development Act 1974. SMJ Energy, a wholly-owned entity of the Sabah government established in 2021, has been tasked with overseeing, managing, and coordinating the state's participation across the entire O&G value chain. 'The CCA provides a commercial solution to overcoming the issue of O&G rights in Sabah while preserving the existing legal rights and privileges belonging to the state and federal governments,' said Dionysia. Through the CCA, SMJ Energy has acquired equity in multiple ventures: a 50% stake in the Samarang PSC, 25% in Petronas Chemicals Fertiliser Sabah, and 10% in a Petronas LNG plant in Bintulu. These have yielded RM1.8 billion, RM323 million, and RM866 million respectively in dividends and revenue. 'Dividends from SMJ—amounting to RM160 million to date—have been channelled back to the state government. 'SST paid to the state by SMJ Energy amounts to RM91 million to date,' she said. Sabah's contractors ride OGSE wave Sabah's oil and gas service and equipment (OGSE) industry is also seeing marked growth under the CCA framework. 'For Q1 of 2025, the value of OGSE work already awarded to Sabah contractors amounted to RM582 million, compared to RM613 million for the whole of 2021,' Dionysia noted. 'In 2024 alone, Sabah OGSE contractors were awarded RM2 billion worth of work, demonstrating Sabah as a OGSE powerhouse for the future.' SMJ is also working with Petronas to ensure adequate local gas supply to spur downstream industrialisation. 'We're jointly ensuring the availability of gas supply for a RM20 billion investment (in three phases) by E-Steel Enterprise Sdn Bhd to build a hot briquetted iron plant in Sipitang Oil and Gas Industrial Park, and Phase 2 of the SBH Kibing New Solar Energy SB's solar glass plant amounting to RM7.2 billion,' she said. Investing smart sans risk Asked about SMJ's strategic posture, Dionysia said the company would remain a financial investor in producing assets with strong cash flow. 'We work within our limitations and financial resources. SMJ Energy will do away with exploration risk and will not assume an operational role in its upstream investments for now.' She said SMJ leverages 'free carry interests' and 'contractual back-in rights'—mechanisms that allow it equity participation without initial capital exposure. A deeper partnership with Petronas is not ruled out, she added. 'There are ongoing discussions at the highest level between the state and federal governments under the MA63 committees,' said Dionysia. 'These relate to oil royalties, cash payments and the continental shelf which involve both existing state and federal legislation.'
