Page 13 - AsianOil Week 11 2021

AsianOil NEWS IN BRIEF AsianOil

SOUTH ASIA SOUTHEAST ASIA notify their interest in, or a change to their
interest in, the Company under the Financial
Pradhan: Oil, gas sector Coro announces results of Conduct Authority’s Disclosure Guidance and
Transparency Rules.
initiatives catalyse socio- open offer defined in this announcement bear the same
Capitalised terms used but not otherwise
economic change Coro Energy, the South East Asian energy meanings ascribed to them in the circular of
company focused on supporting the
the Company dated 26 February 2021.
Union Minister of Petroleum and Natural Gas regional transition to a low carbon economy, CORO ENERGY, March 16, 2021
& Steel Shri Dharmendra Pradhan today said announces the results of its Open Offer to
that Energy is the catalyst of socio-economic Qualifying Shareholders, the terms of which Petronas Launches rig
change. Speaking at the symposium on fuels and were announced by the Company on 26
lubricants, he said that investment of billions of February 2021. safety initiative
dollars in the Oil and gas sector will bring in more The Open Offer closed for acceptances, in
job opportunities, leading to trickle down effect to accordance with its terms, at 11.00 a.m. on 15 PETRONAS through Malaysian Petroleum
drive Socio-economic growth. The sector will play March 2021 and the Company announces Management (MPM) together with the
an important role in double digit growth trajectory that it has received valid acceptances and Malaysian Maritime Enforcement Agency
of the Indian economy, he added. excess applications for a total of 37,214,632 (APMM) has launched a Public Service Order
Shri Pradhan said that India is the third Open Offer Shares under the Open Offer. video entitled ‘Stay Away From Oil Rigs’
largest consumer of fuel in the world but As a result, a total of 37,214,632 Open in conjunction with the ‘Safety At Sea, Stay
will soon reach the top as the per capita Offer Shares will be issued in connection Away From Oil Rigs’ campaign on 2 March
consumption in the country is on the rise. He with the Open Offer. All valid applications 2021. This video was launched with the aim of
said that the energy requirement for the future for Qualifying Shareholders’ Open Offer providing safety awareness to the local fishing
will be met through cleaner, greener and Entitlements and Excess Share applications community, especially when carrying out
sustainable sources, and for this, continuous have been fulfilled in full. fishing and fishing activities around the oil rig
R&D efforts are called for. Talking about the Application has been made for the area in Malaysian waters. The video, produced
policy reforms in this direction, he mentioned Open Offer Shares, which will rank pari in collaboration with the Malaysian National
about the PMUY, Ethanol blending, passu with the Company’s issued ordinary Film Development Corporation (FINAS), will
Compressed Bio Gas, bio-diesel, Coal to shares, to be admitted to trading on AIM. be broadcast on all local television channels
Syn gas, and promoting LNG as a priority It is expected that Admission will become for 12 months.
transport fuel. On policy side, concrete effective and that dealings in the Open Offer Efforts to approach security through the
investment plan, clarity about future targets Shares will commence at 8.00 a.m. on 17 video broadcast of the Public Service Order
and robust implementation strategy are March 2021. is one of the proactive measures to avoid
bringing in a new paradigm. He said that our On Admission the Company’s enlarged security incidents that often occur, especially
industry is ready to meet not only availability issued ordinary share capital, as enlarged by when fishing boats approach and enter the
of energy but also quality energy. the issue of the consideration shares to be “prohibited zone” within a distance of 500
Shri Pradhan said that we are embracing issued in connection with the Company’s meters from the oil and gas rig.
new heights in the energy vertical of the acquisition of Global Energy Partnership Any intrusion activity that occurs in the
economic development. “The world is talking Limited, the Placing Shares and the Open “prohibited zone” must be reported to PETRONAS
about sustainability. We have laid down Offer Shares, will consist of 2,111,622,173 as well as enforcement agencies that often carry out
sustainable pathways in our strategy to make Ordinary Shares in issue. No Ordinary patrol and monitoring activities to prevent such
energy cleaner, greener, more sustainable. Shri Shares are held in treasury. The figure of incidents from occurring.
Pradhan also released a logo on the occasion 2,111,622,173 Ordinary Shares may be MPM Senior Vice President, PETRONAS,
of golden jubilee of IndianOil’s R&D centre used by the Company’s shareholders as the Mohamed Firouz Asnan said: “Oil and gas
and a souvenir to mark the occasion. denominator for the calculations by which exploration activities are one of the high
IOC, March 16, 2021 they will determine if they are required to risk activities that involve flammable natural
hydrocarbon sources. Recently, there have
been several incidents including extreme
cases where a handful of fishermen have
been involved in dangerous activities such
as poisoning or bombing fish around the
“prohibited zone” of oil and gas rigs.
“Such incidents are very dangerous, can
invite disasters, including threatening the
lives of fishermen and workers, and can have
a serious negative impact on operations on
oil and gas rigs. With the cooperation of all
parties, including APMM, FINAS and other
government agencies, especially the fishing
community, PETRONAS hopes that this
campaign can prevent unwanted incidents
from happening,” he added.
PETRONAS, March 13, 2021

Week 11 18•March•2021 www. NEWSBASE .com P13