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Repsol said to be looking to exit Malaysia


SPANISH oil major Repsol SA is understood to be looking to exit its oil and gas (O&G) production business in Malaysia, sources familiar with the matter tell The Edge.
While details are scarce, it is understood that Repsol has roped in an international investment bank to assist in the sale.
Mikkel Larsen, Repsol’s international communication and country coordination official, in an email response to The Edge on the possible sale of the company’s Malaysian assets, says, “We don’t have any comments to this we never comment on speculations about this kind of processes.”
Nevertheless, a high-ranking local O&G executive says, “I am not surprised, it (the sale of assets) has been on the cards for a while now.” ....

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THHE says settlement deal with PTTEP Sarawak was worth RM16m


KUALA LUMPUR (March 2): Loss-making TH Heavy Engineering Bhd (THHE) said the settlement amount agreed between the group and PTTEP Sarawak Oil Ltd (formerly known as Murphy Sarawak Oil Co Ltd) was about RM16 million.
In a filing with Bursa Malaysia, THHE clarified that the amount owing by PTTEP to THHE s wholly-owned unit THHE Fabricators Sdn Bhd as at Dec 31, 2019 was about RM38 million.
The settlement amount agreed between both parties through the settlement agreement is approximately RM16 million, it said.
This settlement allowed both parties to look forward to a better future business relationship and to end the long outstanding dispute with PTTEP, the group added. ....

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