Hence, be sure to consider the seasoned provider that has a team of knowledgeable individuals who can help you choose and obtain the right equipment at the best price. Smaller companies and individuals may hire consulting geologists (see question 2) as needed. These tycoons had collectively had their shareholding in these companies valued at some RM15.89bil when O&G stocks were trading at their highest prices. At its peak, SapuraKencana was trading at RM4.81, translating to a wealth of RM4.85bil for Tan Sri Shahril Shamsuddin’s 16.84% stake in the integrated O&G concern. SapuraKencana was the most actively traded counter yesterday, falling 10.36% to close at RM2.51. The stock dived into penny-stock territory yesterday, falling to a low of 98 sen before ending the day at RM1.01 per share. Brent slid to a five-year low after OPEC’s decision last week not to cut production to shore up prices, which have slumped 41 percent from a June high. Amelia Resources LLC is a privately held exploration and production company.
Once the oil and gas is brought up to the production platform, the modern oil production platforms separate the natural gas from the crude. Petronas’ huge capex, estimated at RM60bil a year prior to the planned cuts, was also a buffer for the domestic industry from the onslaught of crumbling crude oil prices and its effect elsewhere. 60 million, which is obviously at a much reduced run rate than our preliminary 2014 budget, as we had back-end loaded at the budget to allow for developing best practices prior to running at full speed. No doubt, the energy stored in the living organisms or in organic matter is much greater than that in the oil or coal. As a result of communal living with the same set of people, they need get on well with others both in and outside of the work situation. 6. Living conditions on most rigs are really comfortable.
The conditions are often dirty, wet and noisy. Incalculable items are delivered and appropriated by these organizations. 9. The work could be hard for entrants with a physical disability, because offshore rig personnel are required to pass tests of physical fitness, survival and escape from a submerged helicopter. 8. It is normal to travel to different rigs by helicopter. The fall in global crude oil prices and the plunge in the value of O&G stocks on Bursa Malaysia saw the value of their shareholding cut by almost half to some RM7.86bil yesterday. Malaysia’s ringgit posted the biggest two-day decline since the 1997-98 Asian financial crisis and stocks slumped on concern a protracted slide in crude will erode the oil-exporting nation’s revenue. Supply from shale oil and future Iranian oil, once trade sanctions are lifted, are clouding the supply dynamics for crude oil and gas. At the moment there are no wells in Europe but Poland has potentially the largest supply with 22.45 trillion cubic meters. The largest of these companies, SapuraKencana Petroleum Bhd, has seen its share price dip by 48.78% year-to-date. Bumi Armada, Malaysia’s largest offshore support vessel firm, was relisted in 2011 at a price of RM3.03 per share.
In April, Quek and Poh also took a block of 15.5% in Alam Maritim Resources Bhd at RM1.35 a share. Mokhzani had sold a block of 190.3 million shares in SapuraKencana earlier this year when the stock was trading at around RM4.30 per share, giving the entire sale a value of RM818.29mil. Another major shareholder of SapuraKencana is Tan Sri Mokhzani Mahathir, whose 10.25% interest has also seen a decline by almost half its value. At yesterday’s price, Mokhzani’s stake in SapuraKencana was valued at RM1.54bil compared to the RM2.95bil it was worth during its highest level. Yinson’s share price has declined from its peak to close at RM2.45 on Dec 1. Based on yesterday’s price, Mokhzani’s stake in the company was worth RM235mil. Similarly, Ananda’s worth from his 42.3% shareholding in Bumi Armada Bhd has gone down by half the value it was during the peak of its share price. Based on yesterday’s price, Ananda’s stake in Bumi Armada was valued at RM2.06bil. To be noted is that Bumi Armada had undertaken a rights issue in August this year that has seen the dilution of Ananda’s shareholding in the company. The potential revenue loss may make it harder for Prime Minister Najib Razak to lower the fiscal deficit to 3 percent of gross domestic product next year from 3.5 percent.
Accelerating the decline in share prices yesterday and the loss in their net worth was the decision by Petroliam Nasional Bhd (Petronas) to slash its capital expenditure (capex) by between 15% and 20% next year. Petronas’ capex cut has spooked investors in the local O&G sector as many companies rely on the national oil company for work. Another stock in which Mokhzani has an interest in, Yinson Holdings Bhd, was also not spared from the bearish sentiment surrounding O&G stocks. Billionaire Robert Kuok, T Ananda Krishnan, Tan Sri Ngau Boon Keat and Tan Sri Quek Leng Chan are also part of the list of value losers in this O&G stock meltdown. Dialog Group Bhd’s Ngau, meanwhile, has seen the value of Dialog’s stock fall. 0.51, meaning that Kuok has lost more than half the value of his stake in that company. At yesterday’s market capitalisation of RM16.76bil, Shahril’s shareholding in the company was valued at RM2.53bil.