<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 3): Petra Energy Bhd's contract for the provision of services to operate and maintain Petroliam Nasional Bhd's (Petronas) Banang oilfield off Terengganu has been extended by 22 months until Aug 6, 2024.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia, Petra Energy said its wholly-owned subsidiary Petra Energy Development Sdn Bhd (PEDSB) has entered into a supplementary agreement with Petronas relating to the technical services agreement first awarded in June 2020 for a duration of two years.</p></div>

<div class=newsTextDataWrapInner><p>Petra Energy did not disclose the value of the supplementary agreement. The group's original two-year contract carried an estimated value of US$40 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The extension is a continuation of the original agreement and "took recognition of the excellent project delivery and execution by PEDSB whilst prioritising health, safety and environment and facilities uptime", the group said.</p></div>

<div class=newsTextDataWrapInner><p>“The contract is expected to contribute positively to the earnings and net assets per share of the group for the duration of the contract,” it added.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Petra Energy closed one sen or 1.16% higher at 87 sen, giving the group a market capitalisation of RM279.92 million.</p></div>


Petra Energy Bhd's contract for the provision of services to operate and maintain Petroliam Nasional Bhd's (Petronas) Banang oilfield off Terengganu has been extended by 22 months until Aug 6, 2024.

In a filing with Bursa Malaysia, Petra Energy said its wholly-owned subsidiary Petra Energy Development Sdn Bhd (PEDSB) has entered into a supplementary agreement with Petronas relating to the technical services agreement first awarded in June 2020 for a duration of two years.

Petra Energy secures 22-month extension for Banang oilfield technical services job from Petronas

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Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.

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Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.

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PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.

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A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.

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A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.

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The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.

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Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.

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<p>Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.</p>


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<p>Attention this week will be on the March inflation rate, with the <strong>Department of Statistics Malaysia</strong> (DOSM) slated to put out <strong>Consumer Price Index</strong> (CPI) — the key gauge for inflation — data on Thursday.</p>

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<p>A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.</p>


<p>A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.</p>


<p>Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.</p>


<p>Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.</p>


<p>The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.</p>


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<p>Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.</p>


<p>Persistent inflation and higher-for-longer interest rates were cited as key risks to financial stability in the Federal Reserve's (Fed) latest survey of US central bank contacts, with geopolitical troubles and the 2024 US presidential election also mentioned as "a potentially significant source of shocks".</p>


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<p>The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.</p>


<p>PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.</p>


<p>Efforts to reform the Bretton Woods institutions – the International Monetary Fund and the World Bank – are progressing, albeit slowly. In December, the IMF Board of Governors approved a 50% increase in member quotas, which will reduce its reliance on borrowed resources, and the World Bank has re...

<p>Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the US stock rally, which has flagged as expectations for interest cuts fade.</p>
