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Overview
Financial Highlight
HeadlinesBusiness Background Petronas Gas Bhd is a Malaysian gas infrastructure and utilities company of which Malaysia’s nationalized oil corporation, PETRONAS, holds a majority interest. Petronas Gas segments its primary operations into Gas Processing, Gas Transportation, Utilities, and Regasification businesses. While each of these contributes significantly to the company’s total revenue, its Gas Processing and Gas Transportation units combine to generate the majority. In Gas Processing, Petronas Gas receives processing fees under multi-year contracts by processing natural gas piped offshore for its parent company, PETRONAS. The Gas Transportation business encompasses the transmission of offshore natural gas through pipelines to customers in Malaysia and Singapore under multi-year agreements with PETRONAS.
  tkl88 Wow, oil price continue to spike up like mad ! As at 1.25am, Nymex=> $44.95 (+1.89) (+4.39 %) Brent=> $47.77 (+1.73) (+3.76 %) 25/11/2020 7:00 AM tkl88 Walaoeh, Dow Jones continue it’s bull run ! Dow Jones closed at=> 30,046.24 (+454.97) (+1.54 percent) ! Huat ah ! Heng ah ! Ong ah ! 25/11/2020 7:25 AM  Zuliana Fitch downgrades Malaysia’s sovereign rating to BBB+, the first downgrade since Asian Financial Crisis Wong Ee Lin/ theedgemarkets.com December 04, 2020 KUALA LUMPUR (Dec 4): Fitch Ratings has downgraded Malaysia's long-term foreign-currency issuer default rating (IDR) to 'BBB+' from 'A-', with a stable outlook. The downgrade marks the ratings agency's first for the country since the 1997/98 Asian Financial Crisis. The depth and duration of the Covid-19 crisis have weakened several of Malaysia's key credit metrics, said Fitch Ratings in a statement today. The pandemic's impact on the Malaysian economy has been substantial and has added to the country's fiscal burden, which was already high, relative to peers going into the health crisis, Fitch said. 06/12/2020 12:44 PM irwan Blast-rocked Petronas' South African oil refinery shut down for investigations 06/12/2020 4:41 PM irwan South Africa's second-largest crude oil refinery, the Engen plant in Durban, has been shut down to allow investigators a chance to find out the cause of a "fire incident" earlier on Friday, Engen said.Engen, which operates the 120,000 barrel per day plant and is majority owned by Malaysia's Petronas, said a fire broke out at around 0510 GMT and was extinguished by 0645 GMT.Engen is currently assessing its overall bulk fuels supply and demand position and implementing immediate mitigations to manage inventory and product supply requirements," Engen said in an update. 06/12/2020 4:41 PM irwan Local emergency services said seven people were injured, although Engen said no injuries were recorded and all refinery personnel were accounted for."I saw a massive fireball at the centre of the refinery with thick black smoke billowing from it," Durban resident Shane Lloyd Pretorius told Reuters.Engen said in a statement that the cause of the fire was under investigation.A Reuters witness at the scene saw several fire engines spraying foam onto the affected part of the refinery, as well as ambulances, metropolitan police and national police standing by.Africa's most industrialised economy has six refineries, four using crude oil and two synthetic fuel as feedstock. It is a net importer of petroleum products. 06/12/2020 4:42 PM irwan The country's third-biggest crude oil refinery, a 100,000 bpd facility operated by Astron Energy in Cape Town, also suffered an explosion earlier this year.Top refinery SAPREF, which is also located in Durban and is a joint venture between BP and Shell, said the incident at Engen's facility had no impact on its operations.The Engen Refinery and SAPREF form part of a major petrochemical hub on the east coast close to Durban's port. 06/12/2020 4:42 PM ethan added PetGas with average price of RM16.98 for my portfolio. Right now, it is about 50% of the portfolio 05/01/2021 5:27 PM masterus WTI Climbs Above $61 As Crude Stocks Dwindle By Julianne Geiger - Feb 17, 2021, 3:42 PM CST The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 5.8 million barrels for the week ending February 12. Analysts had predicted an inventory draw of 2.429 million barrels for the week. 18/02/2021 9:51 AM masterus Brent crude oil price hit $67 per barrel. WTI crude oil price @ $63 per barrel 25/02/2021 11:16 AM masterus Brent crude oil price hit $70 per barrel WTI crude oil now reached $67 per barrel 08/03/2021 7:19 AM hazli KUALA LUMPUR (March 11): Petroliam Nasional Bhd's (Petronas) Suriname-based unit has tapped geodata specialist Fugro to conduct a seep survey and geochemical campaign. In a statement yesterday, Fugro said it is conducting a seep served and geochemical camping in Block 48, which is located offshore Suriname for Petronas Suriname E&P BV (PSEPBV). Fugro said the work for PSEPBV is being conducted from survey vessel MV Fugro Brasilis, and involves geophysical data collection, heat flow measurements, core sampling and on-board geochemical analysis, which aim to optimise future exploration activities in this frontier area. The fieldwork for the job will run through the first quarter of 2021 (1Q21), with subsequent geochemical analysis and final reports delivered in May 2021, noted the statement. Fugro director for the Caribbean and Pacific South America Brian Hottman said the Suriname-Guyana basin is shaping up to be a world-class petroleum system. The Suriname-Guyana basin is shaping up to be a world-class petroleum system, and PSEPBV is poised to be a major player in this region as demonstrated by their successful results from the Sloanea-1 exploration well located in Block 52. We look forward to supporting their continued success in the region by defining high-potential areas within Block 48, and helping develop Suriname’s vital resources in a safe and responsible manner,” Hottman said. 12/03/2021 11:04 PM 23wolf 1st time in Pet gas. In @ 15.88 this morning. Good luck to everyone. Stay safe ~ 15/03/2021 11:52 AM ivanlau hidden gem , high dividend, today closing 15.58, the fair value in 2021 will be rm 20, think about that ...... 20/03/2021 9:12 AM fightingdragons Yesterday went down at closing because of fund portfolio rebalancing. Top up on Monday before it goes back up. 20/03/2021 12:45 PM  Keyman188 Covid vaccinations hit another record, average now above 3 million daily (PUBLISHED SAT, APR 3 20215:45 PM EDT) ~ The U.S. is now administering more than 3 million new Covid vaccine shots daily, based on a seven-day average of CDC data. ~ On Saturday, the public-health agency reported a record 4.1 million new doses were given. The U.S. reported on Saturday another daily record of new Covid vaccine doses administered, pushing the weekly average of new shots per day above 3 million, according to data compiled by the Centers for Disease Control and Prevention. The public-health agency on Saturday reported 4.1 million new doses were given, the highest daily mark since the Food and Drug Administration cleared vaccines for emergency use late last year. About 104.2 million U.S. residents, or 31% of the population, have received at least one vaccine dose, according to the CDC, while 59.9 million people, or 18% of the population, are fully vaccinated. Pfizer and Moderna’s vaccines require two doses for full immunity protection; Johnson & Johnson’s vaccine, which received limited clearance in late February, is a single-shot regime. Three-quarters of U.S. residents who are age 65 and older have received at least one vaccine dose, CDC data shows, providing crucial protection against the disease to a vulnerable group of Americans. As of March 31, nearly 81% of the country’s Covid deaths have occurred in people age 65 and up. The rise in daily vaccine doses administered comes as available supply increases and eligibility is expanded across the nation. In states such as Texas, Kansas and Ohio, all residents age 16 and older are now able to get the vaccine. The vaccine milestone Saturday arrives against a somewhat mixed picture for coronavirus cases and deaths in the past week. The country’s seven-day average of new daily infections sits at 64,617, up 6% compared with a week ago, according to a CNBC analysis of Johns Hopkins University data. Cases are growing in 26 states, plus Washington D.C., CNBC’s analysis shows. However, the U.S. weekly average of new deaths per day is down 12% to 847. President Joe Biden has urged the country to continue remaining vigilant around coronavirus spread despite significant progress on the vaccine rollout. “Too many Americans are acting as if this fight is over,” Biden said Friday. “It is not.” Also on Friday, the CDC said people who have been fully vaccinated against Covid can travel at “low risk to themselves,” while still stressing the need to wear a mask and maintain physical distance. “We continue to encourage every American to get vaccinated as soon as it’s their turn, so we can begin to safely take steps back to our everyday lives,” CDC Director Dr. Rochelle Walensky said in a statement that accompanied the guidance change. “Vaccines can help us return to the things we love about life, so we encourage every American to get vaccinated as soon as they have the opportunity.” ## https://www.cnbc.com/2021/04/03/covid-vaccinations-hit-another-record-average-now-above-3-million-daily.html 04/04/2021 12:28 PM lotuseater @Keyman188... what is the relation between your two articles above and Petronas Gas? If it's irrelevant, pls do not post such articles here. 04/04/2021 5:53 PM Keyman188 If you so scared other people comments then put your money under pillow or put inside the milo tin lorrr... memang so-hai investor... 04/04/2021 6:06 PM Keyman188 U.S. says 165 million doses of COVID-19 vaccine been administered so far (April 5, 20212:17 AMUpdated 6 hours ago) (Reuters) - The United States has administered more than 165 million doses of COVID-19 vaccines in the country as of Sunday morning and distributed nearly 208 million, the U.S. Centers for Disease Control and Prevention (CDC) said on Sunday. That is up from the 161,688,422 vaccine doses the CDC said had gone into arms by Saturday out of 207,866,645 doses delivered. The agency said 106,214,924 people had received at least one vaccine dose, while 61,416,536 people have been fully vaccinated as of Sunday. The CDC tally includes two-dose vaccines from Moderna Inc and Pfizer/BioNTech,, as well Johnson & Johnson’s one-shot vaccine as of 6:00 a.m. ET on Sunday. A total of 7,742,126 vaccine doses have been administered in long-term care facilities, the agency said. ## https://www.reuters.com/article/us-health-coronavirus-usa-cdc/us-says-165-million-doses-of-covid-19-vaccine-been-administered-so-far-idUSKBN2BR0LV 05/04/2021 8:49 AM Keyman188 Dow climbs 370 points to close at a record high amid optimism on the economic recovery (PUBLISHED SUN, APR 4 20216:03 PM EDTUPDATED MON, APR 5 20214:06 PM EDT) U.S. stocks climbed to record highs on Monday as a strong bounce in U.S. job growth and solid data in the services sector raised expectations for a swift economic recovery from the pandemic. The Dow Jones Industrial Average rose 373.98 points to 33,527.19, a record closing high. The S&P 500 gained 1.4% to 4,077.91, also hitting a new record close. The tech-heavy Nasdaq Composite also climbed 1.7% to 13,705.59. The Labor Department reported Friday that nonfarm payrolls increased by 916,000 in March, the highest since August 2020, while the unemployment rate fell to 6%. Economists surveyed by Dow Jones were expecting an increase of 675,000 and a jobless rate of 6%. Meanwhile, a measure of U.S. services industry activity soared to a record high in March. The Institute for Supply Management’s non-manufacturing activity index jumped to a reading of 63.7 last month, the highest level in the survey’s history. “A ‘Capital V’ recovery that is in the early innings,” said Tony Dwyer, Canaccord Genuity’s chief market strategist. “The only thing that could stand in the way would be another shutdown of the economy to contain new Covid-19 strains or a policy mistake by the Fed. Neither appear imminent.” Tesla shares popped more than 4% as the electric vehicle company reported production and delivery figures that broadly beat expectations. GameStop shares cut their double-digit losses and closed down about 2% after the video game retailer said it may sell up to $1 billion worth of stock. Classic reopening plays like airlines and cruise operators outperformed. Delta Airlines and United jumped more than 2% each, while Carnival and Norwegian Cruise Line gained 4.7% and 7.2%, respectively. Bond yields, whose sudden advance spooked some investors in recent weeks, continued to ease. The 10-year Treasury yield fell slightly to 1.71% on Monday. “We expect equities and other risk assets to be supported by the new nominal — a more muted response of government yields to stronger growth and higher inflation than in the past as central banks lean against any sharp yield rises,” Wei Li, global chief investment strategist at BlackRock, said in a note. The stock market is building on its recent strength after President Joe Biden introduced his multitrillion-dollar infrastructure proposal, which focuses on rebuilding roads, bridges and airports, expanding broadband access and boosting electric vehicle use and updating the country’s electric grid. The plan will be funded partly by a hike in the corporate tax rate to 28%. Treasury Secretary Janet Yellen on Monday pushed for a global minimum corporate tax in an effort to keep companies from relocating to find lower rates. However, Biden’s plan faces opposition among Republicans as the $2 trillion plan includes initiatives that they say extend beyond traditional infrastructure issues. Republican Sen. Roy Blunt of Missouri on Sunday urged the Biden administration to pare back the package to roughly $615 billion and concentrate on physical infrastructure such as roads and airports. Senate Minority Leader Mitch McConnell, R-Ky., said last week that Biden’s plan would not receive Republican support and vowed to oppose the broader Democratic agenda. On the pandemic front, the U.S. reported another daily record of new Covid vaccinations Saturday, pushing the weekly average of new shots per day above 3 million. ## https://www.cnbc.com/2021/04/04/stock-market-futures-open-to-close-news.html 06/04/2021 7:33 AM Keyman188 IMF increases global growth forecast and says a way out of the crisis is ‘increasingly visible’ (PUBLISHED TUE, APR 6 20218:31 AM EDTUPDATED TUE, APR 6 20218:38 AM EDT) ~ The latest round of fiscal stimulus in the U.S. along with the vaccine rollouts across the world have made the Fund more confident about the global economy this year. ~ The latest forecasts suggest the United States is well placed to experience a solid economic recovery in 2021, in contrast to what’s expected for most of the world, where many economies are likely to take longer to return to their pre-crisis levels. LONDON — The International Monetary Fund is now expecting a stronger economic recovery in 2021 as Covid-19 vaccine rollouts get underway, but it warns of “daunting challenges” given the different rates of administering shots across the globe. On Tuesday the group said it expects the world economy to grow by 6% in 2021, up from its 5.5% forecast in January. Looking further ahead, global GDP (gross domestic product) for 2022 is seen increasing by 4.4%, higher than an earlier estimate of 4.2%. “Even with high uncertainty about the path of the pandemic, a way out of this health and economic crisis is increasingly visible,” Gita Gopinath, the IMF’s chief economist, said in the latest World Economic Outlook report. The latest round of fiscal stimulus in the U.S., along with the vaccine rollouts across the world, have made the fund more confident about the global economy this year. “Nonetheless, the outlook presents daunting challenges related to divergences in the speed of recovery both across and within countries and the potential for persistent economic damage from the crisis,” Gopinath also said. The IMF estimated a 5.1% GDP rate for advanced economies this year, with the United States growing at a pace of 6.4% in 2021. Meanwhile, the forecast for emerging and developing economies is 6.7% in 2021, with India expected to grow as much as 12.5%. “Within-country income inequality will likely increase because young workers and those with relatively lower skills remain more heavily affected in not only advanced but also emerging markets and developing economies,” Gita warned, while also adding that lower levels of female employment is exacerbating disparities too. As a result, the IMF said that governments should continue to focus on “escaping the crisis” by providing fiscal support, including to their healthcare systems. In a second phase, “policymakers will need to limit long-term economic scarring” from the crisis and boost public investment, for instance. “Without additional efforts to give all people a fair shot, cross-country gaps in living standards could widen significantly, and decades-long trends of global poverty reduction could reverse,” Gopinath warned. Recovery in the U.S. The latest forecasts suggest the United States is well placed to experience a solid economic recovery in 2021, in contrast to what’s expected for most of the world, where many economies are likely to take longer to return to their pre-crisis levels. The positive assessment for the U.S. is highly driven by President Joe Biden’s $1.9 trillion coronavirus rescue package, which entered into force last month. As such, unemployment in the United States is expected to fall from 8.1% in 2020 to 5.8% this year and then again to 4.1% in 2022, according to the latest IMF projections. Back in February, Treasury Secretary Janet Yellen said the U.S. could return to full employment in 2022. “There’s absolutely no reason why we should suffer through a long slow recovery,” she told CNN at the time. The IMF’s latest forecasts confirm that the U.S. is on track to not only return but surpass its pre-Covid levels this year. “Among advanced economies, the United States is expected to surpass its pre-Covid GDP level this year, while many others in the group will return to their pre-COVID levels only in 2022,” Gita said. ## https://www.cnbc.com/2021/04/06/imf-world-economic-outlook-april-2021-global-gdp-to-hit-6percent.html 06/04/2021 8:48 PM Keyman188 JPMorgan’s Dimon Says ‘This Boom Could Easily Run Into 2023’ (April 7, 2021, 6:10 PM GMT+8Updated on April 7, 2021, 9:39 PM GMT+8) Jamie Dimon said he’s optimistic the pandemic will end with a U.S. economic rebound that could last at least two years. “I have little doubt that with excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the U.S. economy will likely boom,” the JPMorgan Chase & Co. chief executive officer said Wednesday in his annual letter to shareholders. “This boom could easily run into 2023.” Unprecedented federal rescue programs have blunted unemployment and averted further economic deterioration, according to Dimon, who said banks entered the crisis strong and able to help communities weather the storm. While lenders also benefited from U.S. stimulus, they built up buffers against future loan losses and performed well in stress tests, he said. Dimon also pointed to U.S. consumers, who used stimulus checks to reduce debt to the lowest level in 40 years and stashed them in savings, giving them -- like corporations -- an “extraordinary” amount of spending power once lockdowns end. The latest round of quantitative easing measures will have created more than $3 trillion in deposits at U.S. banks, a portion of which can be lent out, he said. It could all add up to a Goldilocks moment, according to Dimon, where growth is fast and sustained while inflation ticks up gently. Threats to that outcome include virus variants and a rapid or sustained jump in inflation that prompts rates to rise sooner. At 65, Dimon is the most prominent executive in global banking, serving as a spokesman for the industry while leading a titan of both Wall Street and consumer lending. He’s run the company since the end of 2005, and is the only CEO still at the helm after steering a major bank through the financial crisis. The 65-page letter (plus a page of footnotes) is Dimon’s longest yet, following last year’s abbreviated one that came less than a week after he returned to work from emergency heart surgery. As always, it is wide-ranging, touching on topics from financial regulation to China to inequality and institutional racism. ## https://www.bloomberg.com/news/articles/2021-04-07/dimon-says-fintech-and-big-tech-are-here-as-banks-lose-ground?srnd=premium-asia 07/04/2021 10:25 PM  |
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