Up up up!

I’m sure Velesto has more than just one rig! Haizz why la fall until 0.145 just now!

Going up! Good! Not Velesto fault! It’s Accident!

Covered by insurance right?

OMG I just read! OMG!

Oil drop abit. It’s ok. We are all investors here. Not punters. Very confident will “strike oil” aka huat ah ! :)

Renewal energy still at infancy..looooong way to go b4 can replace OnG... 5-10 years? Or much longer?
https://oilprice.com/Alternative-Energy/Renewable-Energy/The-Ugly-Truth-About-Renewable-Power.html

Goldman: Oil To Hit $80 On Largest Ever Demand Jump
https://oilprice.com/Energy/Energy-General/Goldman-Oil-To-Hit-80-On-Largest-Ever-Demand-Jump.html
By Tsvetana Paraskova - Apr 28, 2021, 11:00 AM CDT
Trade Oil Futures Now

Goldman Sachs expects global oil demand to realize the biggest jump ever over the next six months, the investment bank said on Wednesday, keeping its bullish forecasts for oil prices this summer.

Higher demand for travel and acceleration of vaccinations in Europe are set to result in “the biggest jump in oil demand ever, a 5.2 million barrels per day (bpd) rise over the next six months,” Reuters quoted Goldman Sachs as saying in a note to clients.

Three Things That Will Drive Oil Prices In May
By Alex Kimani - Apr 28, 2021, 7:00 PM CDT
https://oilprice.com/Energy/Crude-Oil/Three-Things-That-Will-Drive-Oil-Prices-In-May.html
#1. OPEC Meeting: Strong oil Demand

OPEC+ has ditched plans to hold a full ministerial meeting on Wednesday and instead plans to gather in early June after a technical meeting on Tuesday voiced concerns about surging Covid-19 cases.

The good news: The technical committee has forecast global oil consumption to rebound by 6M bbl/day this year, according to delegates who attended the panel.

06:04 am CST 29/04/2021

Brent Crude (May Contract)
68.33 +1.59%

Sooner or later must rally, just park here 1 st la! :)

So more jobs for Velesto?

Petronas sitting on 'very sizeable and healthy' oil and gas exploration portfolio
https://www.upstreamonline.com/exploration/petronas-sitting-on-very-sizeable-and-healthy-oil-and-gas-exploration-portfolio/2-1-997332

USD80 coming months. :)
https://www.news24.com/fin24/economy/world/bp-rebounds-into-q1-profit-on-oil-price-recovery-20210428

Anyways Brent crude futures were up $1.23, or 1.9%, to $67.65 a barrel by 10:53 a.m. EDT (1453 GMT).

Actually price drop lately was due to India record high spike in covid infections. World 3rd largest economy. :(

OnG up up up!

Malaysia launches 10-year blueprint to revive oil and gas sector
Demand for energy and transportation tanked during the pandemic.

Shannon Teoh
Malaysia Bureau Chief
PUBLISHED1 HOUR AGO
FACEBOOKTWITTER
KUALA LUMPUR - Malaysia is seeking to rescue its ailing oil and gas ecosystem with an ambitious 10-year plan after fuel prices were battered last year by the Covid-19 pandemic.

The National Oil & Gas Services and Equipment (OGSE) Industry Blueprint 2021-2030 comes after nearly two-thirds of over 4,000 vendors fell off the radar, victims of a "double whammy".

Demand for energy and transportation tanked during the pandemic and this came on top of the rout in oil markets between 2014 and 2016.


State oil giant Petronas was forced to slash a third of its initial RM50 billion (S$16.2 billion) capital expenditure budget for 2020, most of which was dedicated to the domestic market. Last year, crude oil prices averaged about US$40 per barrel, down from over US$60 the year before.

Local OGSE players' reliance on Petronas - a key problem the blueprint will try to address - meant that over 700 companies went dormant last year, leaving just 1,563 players in the field.

Oil and gas have been a crucial plank of both the Malaysian economy and government revenue, making up to a fifth of the country's pre-Covid-19 gross domestic product. The supporting OGSE sector, which accounted for nearly half of that contribution, has lagged in adopting new technologies and inefficient businesses suffered during last year's crash.

"It is hoped that this blueprint will result in them scaling up the operations. We want them to go overseas as well. By merging with each other... they can do more research and development... You need to be on the ball in terms of the latest technology," Economic Planning Minister Mustapa Mohamed told reporters after Tuesday's (April 27) launch.

The blueprint outlines incentives for mergers, consortium-building and technology adoption, alongside an RM25 million OGSE Development Grant to help smaller firms commercialise innovative solutions.

Malaysia's OGSE sector generates about US$16.4 billion (S$21.7 billion) in revenue annually, with less than a third coming from exports.

This compares unfavourably with Norway - which Malaysian Petroleum Resources Corporation (MPRC), the lead agency tasked with developing the OGSE landscape, calls the "gold standard" - as well as the United Kingdom.

Both countries in Europe reap over US$35 billion a year from a less fragmented industry of just 1,200 firms each. Norway's OGSE sector also filed 960 patents in the last five years, and the UK had 381, compared with a paltry 36 for Malaysia.

Among the blueprint's targets are to see the OGSE sector contribute up to RM50 billion to Malaysia's GDP by the end of the decade, up from RM21 billion last year, and provide 60,000 highly-skilled jobs, 1,000 more than the existing largely semi-skilled workforce. In line with long-term plans for Petronas to increasingly expand its footprint internationally, OGSE players will also be expected to derive half of their revenue overseas, similar to their Norwegian counterparts currently.

Another crucial push will be to diversify revenue streams, with a quarter of billings by 2030 to come from outside oil and gas. MPRC chief executive Yazid Ja'afar pointed to "adjacent" industries such as renewable energy, where public-listed Eversendai Corp has bagged several offshore wind deals.

Datuk Seri Mustapa said it was imperative that OGSE players create low-carbon solutions with the ongoing push to "decarbonise" receiving a boost from the Leaders Summit on Climate hosted by United States President Joe Biden last week.

"We are encouraging the industry to explore the ESG (environmental, social and governance) element," Mr Yazid told a press conference. "Once you comply with the requirements, you will open up a whole world of US$59 trillion (of investment funds) by 2025."

OnG up up up!

Malaysia launches 10-year blueprint to revive oil and gas sector
Demand for energy and transportation tanked during the pandemic.

Shannon Teoh
Malaysia Bureau Chief
PUBLISHED1 HOUR AGO
FACEBOOKTWITTER
KUALA LUMPUR - Malaysia is seeking to rescue its ailing oil and gas ecosystem with an ambitious 10-year plan after fuel prices were battered last year by the Covid-19 pandemic.

The National Oil & Gas Services and Equipment (OGSE) Industry Blueprint 2021-2030 comes after nearly two-thirds of over 4,000 vendors fell off the radar, victims of a "double whammy".

Demand for energy and transportation tanked during the pandemic and this came on top of the rout in oil markets between 2014 and 2016.


State oil giant Petronas was forced to slash a third of its initial RM50 billion (S$16.2 billion) capital expenditure budget for 2020, most of which was dedicated to the domestic market. Last year, crude oil prices averaged about US$40 per barrel, down from over US$60 the year before.

Local OGSE players' reliance on Petronas - a key problem the blueprint will try to address - meant that over 700 companies went dormant last year, leaving just 1,563 players in the field.

Oil and gas have been a crucial plank of both the Malaysian economy and government revenue, making up to a fifth of the country's pre-Covid-19 gross domestic product. The supporting OGSE sector, which accounted for nearly half of that contribution, has lagged in adopting new technologies and inefficient businesses suffered during last year's crash.

"It is hoped that this blueprint will result in them scaling up the operations. We want them to go overseas as well. By merging with each other... they can do more research and development... You need to be on the ball in terms of the latest technology," Economic Planning Minister Mustapa Mohamed told reporters after Tuesday's (April 27) launch.

The blueprint outlines incentives for mergers, consortium-building and technology adoption, alongside an RM25 million OGSE Development Grant to help smaller firms commercialise innovative solutions.

Malaysia's OGSE sector generates about US$16.4 billion (S$21.7 billion) in revenue annually, with less than a third coming from exports.

This compares unfavourably with Norway - which Malaysian Petroleum Resources Corporation (MPRC), the lead agency tasked with developing the OGSE landscape, calls the "gold standard" - as well as the United Kingdom.

Both countries in Europe reap over US$35 billion a year from a less fragmented industry of just 1,200 firms each. Norway's OGSE sector also filed 960 patents in the last five years, and the UK had 381, compared with a paltry 36 for Malaysia.

Among the blueprint's targets are to see the OGSE sector contribute up to RM50 billion to Malaysia's GDP by the end of the decade, up from RM21 billion last year, and provide 60,000 highly-skilled jobs, 1,000 more than the existing largely semi-skilled workforce. In line with long-term plans for Petronas to increasingly expand its footprint internationally, OGSE players will also be expected to derive half of their revenue overseas, similar to their Norwegian counterparts currently.

Another crucial push will be to diversify revenue streams, with a quarter of billings by 2030 to come from outside oil and gas. MPRC chief executive Yazid Ja'afar pointed to "adjacent" industries such as renewable energy, where public-listed Eversendai Corp has bagged several offshore wind deals.

Datuk Seri Mustapa said it was imperative that OGSE players create low-carbon solutions with the ongoing push to "decarbonise" receiving a boost from the Leaders Summit on Climate hosted by United States President Joe Biden last week.

"We are encouraging the industry to explore the ESG (environmental, social and governance) element," Mr Yazid told a press conference. "Once you comply with the requirements, you will open up a whole world of US$59 trillion (of investment funds) by 2025."

OnG up up up!

Read la still got hope!

Malaysia launches 10-year blueprint to revive oil and gas sector
Demand for energy and transportation tanked during the pandemic.

Shannon Teoh
Malaysia Bureau Chief
PUBLISHED1 HOUR AGO
FACEBOOKTWITTER
KUALA LUMPUR - Malaysia is seeking to rescue its ailing oil and gas ecosystem with an ambitious 10-year plan after fuel prices were battered last year by the Covid-19 pandemic.

The National Oil & Gas Services and Equipment (OGSE) Industry Blueprint 2021-2030 comes after nearly two-thirds of over 4,000 vendors fell off the radar, victims of a "double whammy".

Demand for energy and transportation tanked during the pandemic and this came on top of the rout in oil markets between 2014 and 2016.


State oil giant Petronas was forced to slash a third of its initial RM50 billion (S$16.2 billion) capital expenditure budget for 2020, most of which was dedicated to the domestic market. Last year, crude oil prices averaged about US$40 per barrel, down from over US$60 the year before.

Local OGSE players' reliance on Petronas - a key problem the blueprint will try to address - meant that over 700 companies went dormant last year, leaving just 1,563 players in the field.

Oil and gas have been a crucial plank of both the Malaysian economy and government revenue, making up to a fifth of the country's pre-Covid-19 gross domestic product. The supporting OGSE sector, which accounted for nearly half of that contribution, has lagged in adopting new technologies and inefficient businesses suffered during last year's crash.

"It is hoped that this blueprint will result in them scaling up the operations. We want them to go overseas as well. By merging with each other... they can do more research and development... You need to be on the ball in terms of the latest technology," Economic Planning Minister Mustapa Mohamed told reporters after Tuesday's (April 27) launch.

The blueprint outlines incentives for mergers, consortium-building and technology adoption, alongside an RM25 million OGSE Development Grant to help smaller firms commercialise innovative solutions.

Malaysia's OGSE sector generates about US$16.4 billion (S$21.7 billion) in revenue annually, with less than a third coming from exports.

This compares unfavourably with Norway - which Malaysian Petroleum Resources Corporation (MPRC), the lead agency tasked with developing the OGSE landscape, calls the "gold standard" - as well as the United Kingdom.

Both countries in Europe reap over US$35 billion a year from a less fragmented industry of just 1,200 firms each. Norway's OGSE sector also filed 960 patents in the last five years, and the UK had 381, compared with a paltry 36 for Malaysia.

Among the blueprint's targets are to see the OGSE sector contribute up to RM50 billion to Malaysia's GDP by the end of the decade, up from RM21 billion last year, and provide 60,000 highly-skilled jobs, 1,000 more than the existing largely semi-skilled workforce. In line with long-term plans for Petronas to increasingly expand its footprint internationally, OGSE players will also be expected to derive half of their revenue overseas, similar to their Norwegian counterparts currently.

Another crucial push will be to diversify revenue streams, with a quarter of billings by 2030 to come from outside oil and gas. MPRC chief executive Yazid Ja'afar pointed to "adjacent" industries such as renewable energy, where public-listed Eversendai Corp has bagged several offshore wind deals.

Datuk Seri Mustapa said it was imperative that OGSE players create low-carbon solutions with the ongoing push to "decarbonise" receiving a boost from the Leaders Summit on Climate hosted by United States President Joe Biden last week.

"We are encouraging the industry to explore the ESG (environmental, social and governance) element," Mr Yazid told a press conference. "Once you comply with the requirements, you will open up a whole world of US$59 trillion (of investment funds) by 2025."

OnG up up up!

Malaysia launches 10-year blueprint to revive oil and gas sector
Demand for energy and transportation tanked during the pandemic.

Shannon Teoh
Malaysia Bureau Chief
PUBLISHED1 HOUR AGO
FACEBOOKTWITTER
KUALA LUMPUR - Malaysia is seeking to rescue its ailing oil and gas ecosystem with an ambitious 10-year plan after fuel prices were battered last year by the Covid-19 pandemic.

The National Oil & Gas Services and Equipment (OGSE) Industry Blueprint 2021-2030 comes after nearly two-thirds of over 4,000 vendors fell off the radar, victims of a "double whammy".

Demand for energy and transportation tanked during the pandemic and this came on top of the rout in oil markets between 2014 and 2016.


State oil giant Petronas was forced to slash a third of its initial RM50 billion (S$16.2 billion) capital expenditure budget for 2020, most of which was dedicated to the domestic market. Last year, crude oil prices averaged about US$40 per barrel, down from over US$60 the year before.

Local OGSE players' reliance on Petronas - a key problem the blueprint will try to address - meant that over 700 companies went dormant last year, leaving just 1,563 players in the field.

Oil and gas have been a crucial plank of both the Malaysian economy and government revenue, making up to a fifth of the country's pre-Covid-19 gross domestic product. The supporting OGSE sector, which accounted for nearly half of that contribution, has lagged in adopting new technologies and inefficient businesses suffered during last year's crash.

"It is hoped that this blueprint will result in them scaling up the operations. We want them to go overseas as well. By merging with each other... they can do more research and development... You need to be on the ball in terms of the latest technology," Economic Planning Minister Mustapa Mohamed told reporters after Tuesday's (April 27) launch.

The blueprint outlines incentives for mergers, consortium-building and technology adoption, alongside an RM25 million OGSE Development Grant to help smaller firms commercialise innovative solutions.

Malaysia's OGSE sector generates about US$16.4 billion (S$21.7 billion) in revenue annually, with less than a third coming from exports.

This compares unfavourably with Norway - which Malaysian Petroleum Resources Corporation (MPRC), the lead agency tasked with developing the OGSE landscape, calls the "gold standard" - as well as the United Kingdom.

Both countries in Europe reap over US$35 billion a year from a less fragmented industry of just 1,200 firms each. Norway's OGSE sector also filed 960 patents in the last five years, and the UK had 381, compared with a paltry 36 for Malaysia.

Among the blueprint's targets are to see the OGSE sector contribute up to RM50 billion to Malaysia's GDP by the end of the decade, up from RM21 billion last year, and provide 60,000 highly-skilled jobs, 1,000 more than the existing largely semi-skilled workforce. In line with long-term plans for Petronas to increasingly expand its footprint internationally, OGSE players will also be expected to derive half of their revenue overseas, similar to their Norwegian counterparts currently.

Another crucial push will be to diversify revenue streams, with a quarter of billings by 2030 to come from outside oil and gas. MPRC chief executive Yazid Ja'afar pointed to "adjacent" industries such as renewable energy, where public-listed Eversendai Corp has bagged several offshore wind deals.

Datuk Seri Mustapa said it was imperative that OGSE players create low-carbon solutions with the ongoing push to "decarbonise" receiving a boost from the Leaders Summit on Climate hosted by United States President Joe Biden last week.

"We are encouraging the industry to explore the ESG (environmental, social and governance) element," Mr Yazid told a press conference. "Once you comply with the requirements, you will open up a whole world of US$59 trillion (of investment funds) by 2025."

Ridiculous klse drop today, this counter still steady!

Cathay also in trouble ady, in your dreams RM4.50 !

New pp for purchase of Silterra or Ping or for working capital???

Share holders identified yet? Or ady taken up? At how much?

Correct me if im wrong, pp does dilute share price, no?

Bloody huge pp! Is that supposed 2 b gud news?

On behalf of the Board, UOBKH wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had, vide its letter dated 27 April 2021, resolved to approve the listing and quotation of up to 891,610,200 Placement Shares to be issued pursuant to the Proposed Private Placement subject to the following conditions:-

Read news wealthy Indians all booking jet planes lari to other countries with low covid rates. Meaning private planes started flying ady! Up up oil price!

What bad news?

Why today klse Lau sai so bad huh?

Bot b4 run ok la! Mistake to chase high.

More warrant listing tomorrow! Never ending!

3.00? Okok. Good luck!

Seems like. Not greedy. Selling.

Khai Zam is this consider BO and 52w high?more to come?
26/04/2021 4:07 PM

Velesto's sustainability push
April 19, 2021 @ 6:26pm
https://www.nst.com.my/news/nation/2021/04/683577/velestos-sustainability-push

KUALA LUMPUR: Velesto Energy Bhd will continue to focus on sustainability efforts, keeping intact its corporate responsibility towards environmental, social and governance (ESG).

President and executive director Rohaizad Darus said given the nature of the oil and gas (O&G) industry, there were three factors that are most important to look after.

"Given the nature of our industry, the upstream value chain of exploration and production, and our business model, operations and activities, Velesto's approach to sustainability remains driven by a strong focus on three key aspects ­— the protection of everyone's health and safety, enhancing people's lives, and environment preservation.

"Health and safety of our people are the most important aspects of our operations and last year, we had zero lost time incidents and zero recordable incident cases."

Rohaizad said that with regards to people, the company's priorities remained on local talent recruitment and development, and enhancing organisation culture. Velesto recruits mostly Malaysians and these employees are further developed via various in-house structured programmes.

Since 2014, Velesto has collaborated with Institut Teknologi Petroleum PETRONAS (INSTEP) via Velesto-INSTEP Drilling Academy, which provides internationally accredited training and certification to develop qualified drilling professionals.

"We also aim to improve the welfare and livelihoods of people around us through our community investments in education, safety and environmental awareness. We have been providing tuition classes and study aids for students from rural and suburban schools taking major examinations, working with fishermen on safety at sea, and cleaning beaches with university students," he told the New Straits Times in an interview recently. "This year, we are also making some contributions to Tabung Cerdik and MyStep initiatives.

"From the economic angle, we are increasing our product and service sourcing from local vendors and last year we have sourced about RM120 million locally, or about 70 per cent of our total procurement expenditures.

"In addition, our environmental priorities are in minimising pollution, specifically in the prevention of major spills and management of oil or waste, reducing our GHG (Greenhouse Gas) emissions, while ensuring the biodiversity of the environment is not harmed by our operations.

"These focus areas, together with our iLEAP corporate Core Values and continued strong emphasis on corporate governance, provide a firm base for the development of a robust organisation that is well suited to sustain itself, protect against possible future risks and generate enduring stakeholder value over the long-term amid a competitive operating environment," he added.

According to Velesto's 2019 Sustainability Report, the company has strengthened its practice of corporate governance.

It has also bolstered its commitment to anti-corruption and bribery with the establishment of Integrity Governance Unit under the guidance of Malaysian Anti-Corruption Commission on Jan 1 last year — an independent function to assist the board in driving integrity strategy and compliance for the group.

In addition to being included in FTSE4Good Bursa Malaysia Index, Velesto has been upgraded to Tier 1 (Setting the Pace) and is in the top-quartile for sustainability disclosures by FTSE Russell and Bursa Malaysia.

Rohaizad said while it was not easy to prove the correlation between sustainability and financial performance, this would materialise over longer term and will help to improve the business.

The group will continue to pursue further change and improvement.

"It must always be remembered that financial performance and sustainability go together. We will continue to uphold sustainability as key to Velesto and as such, will look to further integrate sustainability into our business model and operations."

This will entail further aligning sustainability policies, initiatives and action plans with business strategy, and to develop a stronger long-term perspective to enable a strategic response to emerging risks and opportunities, external trends and developments and other macro-factors.

"Guided by our sustainability conscience, we shall continue to operate in accordance with global best practices towards delivering long-term stakeholder value while securing Velesto group's future," he added.

He said the issue of sustainability was also one of the focus of its shareholders, especially with the company now focusing to woo and get more international investors.

"Even local funds like the Employees Provident Fund are putting high priority on sustainability and this trend is increasing going forward. Shareholders

Btw exercise of warrant bila boleh selesai? Is that the reason it kept coming down?

investor9996 哈哈哈 , dnex drop to 0.6 2molo
22/04/2021 12:12 AM

Is that based on technical?

Next QR surely profitable. Esp. With Impairments loss taken care off last Q.

Yup Rig service. But we noticed oil price does influence its up/downs

Actuali i dont agree buy Ping. Overdiversified. Should be more focus.

I tot dnex got profit. Wwait 2 years for?

$70 anytime now! :)

Oil
Day's Range: 66.99 - 68.06

When vacinne come here?

Sputnik ? Vacinne price control item ? Untung aro how much ?

Indonesia market HUGE! Like! :)

Today klse lembab. Anyways hope close 0.18!

Not bad , day range 0.16 - 0.18