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KUALA LUMPUR: Tenaga Nasional Bhd’s (TNB) unit TNB Fuel Services Sdn Bhd has signed five long-term affreightment contracts valued at US$537mil (RM2.11bil) for shipping coal from Indonesia to Malaysia.
KUALA LUMPUR: Malaysia's state energy firm Petronas may try shorter-term LNG contracts and smaller cargo sizes to entice buyers, senior company officials said, at a time when it has major contracts coming up for renewal and the market is awash in supply.
WHILE global markets are still reeling from the spread of the novel coronavirus (Covid-19), the collapse in the oil price was like a kick in the teeth for Malaysia and the world.
SYDNEY: Woodside Petroleum Ltd, the Australian liquefied natural gas producer, said Asian buyers are delaying signing new long-term supply contracts amid forecasts for a growing glut.
The maritime industry is seen heading for a downturn in the near future. However, long-term growth prospects for Malaysian International Shipping Corp (MISC) remain firm. The demand for natural gas is almost set to double in 10 years, said MISC CEO Datuk Shamsul Azhar Abbas. Within the country, major investments have been made by Hewlett Packard Malaysia.
WITH the oil and gas (O&G) sector being one of the crucial sectors for the Malaysian economy and stock market, the downward spiral of oil prices in the last four months have left many jittery.