IMM Joins Forces with PetroEdge and NrgEdge to Boost Digital Branding in the Oil, Gas & Energy Industry
Kuala Lumpur, 20 April 2018: A Memorandum of Understanding (MOU) signing ceremony was held today between Institute of Materials, Malaysia (IMM) and PetroEdge Pte Ltd (AsiaEdge Pte Ltd) and NrgEdge Pte Ltd to mark collaborative efforts to increase brand awareness of IMM, PetroEdge and NrgEdge in the energy industry. The event was held at the Holiday Inn Glenmarie, Kuala Lumpur.
IMM, a non-profit professional society, PetroEdge, a specialist in oil and gas training provider entity of AsiaEdge Pte Ltd, and NrgEdge, a professional networking platform for the energy industry, have joined forces to enhance digital branding knowledge and competency for IMM members over a period of two years by offering a Premium Company Page for IMM to extend their reach to the network of users within the NrgEdge platform.
Under the partnership, other strategic initiatives to increase the party branding in the energy industry also include developing workshops for IMM members on the basics of online branding as well as establishing customised training modules in materials science, technology and engineering.
The MOU was signed by Mohd Azmi Mohd Noor, President of IMM, and Malina Raman, Director and Co-Founder of PetroEdge and NrgEdge, Singapore, and witnessed by Dr Yong Soon Kong, Website Committee Chairperson, IMM, and Anas Asalem, Regional Strategic Partnerships Manager, NrgEdge.
The ceremony was attended by more than 15 IMM members who are Materials Science, Technology and Engineering professionals from Malaysia’s public sector, large multinational companies and small and medium-sized enterprises.
About Institute of Materials, Malaysia (IMM)
Institute of Materials, Malaysia (IMM) is a non-profit professional society that promotes honourable practice, professional ethics and encourages education in materials science, technology and engineering. Engineers, academicians, technicians, skilled workers and professionals are amongst its members exceeding 6800.
Registered with the Registrar of Societies on 6th November 1987, the Malaysian Materials Science & Technology Society (MMS) changed its name to the Institute of Materials, Malaysia (IMM) on 16th June 1997. The objectives of the IMM include the training and development of individuals and companies in Malaysia to attain professional recognition in various fields of materials science, technology and engineering.
IMM is administered by a council of 30 members, with volunteers leading 18 materials committees, and 5 regional chapters, and supported by a secretariat with full time staffs.
The IMM membership is categorised into 6 different grades and open to anyone above the age of 17 years — individuals and companies keen in developing and contributing towards the growth of materials science, technology and engineering in Malaysia.
About PetroEdge and NrgEdge
AsiaEdge Pte Ltd is the holding company of PetroEdge, the leading provider of Energy, Oil & Gas training in Asia. NrgEdge is the professional networking platform for Energy, Oil & Gas professionals, focusing on the Asia Pacific region. The company aims to create a holistic environment that will empower members to excel at every point in their career journey and to assist companies grow their business more effectively. To find out more, visit www.nrgedge.net.
For media enquiries, please contact:
PetroEdge Pte Ltd (AsiaEdge Pte Ltd) & NrgEdge Pte Ltd
E: [email protected] | M: +65 6741 9927
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Headline crude prices for the week beginning 11 February 2019 – Brent: US$61/b; WTI: US$52/b
Headlines of the week
Midstream & Downstream
Global liquid fuels
Electricity, coal, renewables, and emissions
2018 was a year that started with crude prices at US$62/b and ended at US$46/b. In between those two points, prices had gently risen up to peak of US$80/b as the oil world worried about the impact of new American sanctions on Iran in September before crashing down in the last two months on a rising tide of American production. What did that mean for the financial health of the industry over the last quarter and last year?
Nothing negative, it appears. With the last of the financial results from supermajors released, the world’s largest oil firms reported strong profits for Q418 and blockbuster profits for the full year 2018. Despite the blip in prices, the efforts of the supermajors – along with the rest of the industry – to keep costs in check after being burnt by the 2015 crash has paid off.
ExxonMobil, for example, may have missed analyst expectations for 4Q18 revenue at US$71.9 billion, but reported a better-than-expected net profit of US$6 billion. The latter was down 28% y-o-y, but the Q417 figure included a one-off benefit related to then-implemented US tax reform. Full year net profit was even better – up 5.7% to US$20.8 billion as upstream production rose to 4.01 mmboe/d – allowing ExxonMobil to come close to reclaiming its title of the world’s most profitable oil company.
But for now, that title is still held by Shell, which managed to eclipse ExxonMobil with full year net profits of US$21.4 billion. That’s the best annual results for the Anglo-Dutch firm since 2014; product of the deep and painful cost-cutting measures implemented after. Shell’s gamble in purchasing the BG Group for US$53 billion – which sparked a spat of asset sales to pare down debt – has paid off, with contributions from LNG trading named as a strong contributor to financial performance. Shell’s upstream output for 2018 came in at 3.78 mmb/d and the company is also looking to follow in the footsteps of ExxonMobil, Chevron and BP in the Permian, where it admits its footprint is currently ‘a bit small’.
Shell’s fellow British firm BP also reported its highest profits since 2014, doubling its net profits for the full year 2018 on a 65% jump in 4Q18 profits. It completes a long recovery for the firm, which has struggled since the Deepwater Horizon disaster in 2010, allowing it to focus on the future – specifically US shale through the recent US$10.5 billion purchase of BHP’s Permian assets. Chevron, too, is focusing on onshore shale, as surging Permian output drove full year net profit up by 60.8% and 4Q18 net profit up by 19.9%. Chevron is also increasingly focusing on vertical integration again – to capture the full value of surging Texas crude by expanding its refining facilities in Texas, just as ExxonMobil is doing in Beaumont. French major Total’s figures may have been less impressive in percentage terms – but that it is coming from a higher 2017 base, when it outperformed its bigger supermajor cousins.
So, despite the year ending with crude prices in the doldrums, 2018 seems to be proof of Big Oil’s ability to better weather price downturns after years of discipline. Some of the control is loosening – major upstream investments have either been sanctioned or planned since 2018 – but there is still enough restraint left over to keep the oil industry in the black when trends turn sour.
Supermajor Net Profits for 4Q18 and 2018
- 4Q18 – Net profit US$6 billion (-28%);
- 2018 – Net profit US$20.8 (+5.7%)
- 4Q18 – Net profit US$5.69 billion (+32.3%);
- 2018 – Net profit US$21.4 billion (+36%)
- 4Q18 – Net profit US$3.73 billion (+19.9%);
- 2018 – Net profit US$14.8 billion (+60.8%)
- 4Q18 – Net profit US$3.48 billion (+65%);
- 2018 - Net profit US$12.7 billion (+105%)
- 4Q18 – Net profit US$3.88 billion (+16%);
- 2018 - Net profit US$13.6 billion (+28%)