All bcoz of oil price. If Oil price drop means rigs renting price also will plunged down and big oil firm either our local or international not interested to give new contracts or they might not extend the existing contract. Low renting price mean their operating cost will go up and eventually reflect in earning.

The worse is over for velesto...

Yup! worth holding 2 years. Today I sell some to TP...don't want to take risks. Balance I still hold and see what is the max new high velesto can go...happy finally.

Yup! worth holding 2 years. Today I sell some to TP...don't want to take risks. Balance I still hold and see what is the max new high velesto can go...happy finally.

Velesto shot up faster than Armada, from 0.15c within 2 weeks touched 0.20c. Armada still floating around 0.50c..adoi! Normally velesto we called it veryslow but now veryslow becomes fast and furious...hahaha!
Wahai! Armada bangkit lah..

Naik pun complaint tak naik pun complaint...apa la you orang ni..tiam2 ambil profit lah..

For me I don't think so oil going to reverse back. USA can determine the oil price as their previous attempt to bring down the oil price meet failure (SPR released). Its CNY time ma, people active travelling across the continent...syiok ma gong xi fa chai. Nevertheless, China economy fully reopen already, covid just a history..possible oil to shoot usd90 again in near term.

Now Velesto got only 2 solid contracts the rest from Petronas based on umbrella contract. I believed one more contract pending to announce this year, maybe anytime soon. Lets hope for good beginning.

Oil price could move higher soon. In conjunction with CNY festival and China fully open, people will travel more either by cars or planes. Today oil price floating around usd84 bcoz traders take profit. Expected will reach usd 90 by end of next week.

Shouldn't be cny rally, others O&G counters sleeping. Must be some good announcement soon. Volume increasing daily..

Expected brent closed at usd 85+. Next week can hit usd 90.

Expected brent closed at usd 85+. Next week can hit usd 90.

And another new contract announcement

II think big guys like PNP EPF going to boarding in soon. Buckle up your seat belt..hope for the best.

First you must know the basic principles or their nature of business....

Velesto extract raw crude oil for their customers like Shell, petronas and recently they get contract from Hess carigali...that's it. They not processing crude oil like Petronas refineries. They get their profit from rigs and HWU renting. It's all depend on how much they get paid from daily charter rates from renting the rigs/hwu to strengthening theirs balance sheets. 2020 and 2021 is very bad years where they are paid below the market rate. International rigs players are paid very well compared with our local players. They managed to recovered back in 2022 as they secured more project with higher charter rate. We hope that rigs renting rates will be increase further in 2023 as velesto customers willing to more if crude oil steady around usd 80 and above.

willc48
velesto most underachiever despite when oil price up. must send audit to look into OPEX

Ya tiam2 ambil TP..klu bnyk comments nanti tak naik. Shark jaws semua pun baca tau. Tiam2 sdh lah...hahaha

Diam2 ambil TP..jgn bnyk comments..

Got good news no point, price fall like no tomorrow..

Out of 7 stocks that Warren Buffet invested 2 from O&G sector (Chevron & Occidental). Meanwhile buffet is making tons of money while Bezos and Elon losing billions. Buffet is investor not inventor, so he knows all about stock market from A to Z. Buffet won't simply buy unless intrinsic and future values of particular stock is very good.

Out of 7 stocks that Warren Buffet invested 2 from O&G sector (Chevron & Occidental). Meanwhile buffet is making tons of money while Bezos and Elon losing billions. Buffet is investor not inventor, so he knows all about stock market from A to Z. Buffet won't simply buy unless intrinsic and future values of particular stock is very good.

https://youtu.be/xguam0TKMw8


this is an interesting video about changing world order

lots of things inside from history.

In 2019, average crude oil price is in between usd65 to 75. That time veryslow doing very fine, received lot of new contracts from those international companies. Veryslow trading above 0.40c till covid strike the worldwide and plunged down the oil price. This year average crude oil price is usd100 above, hope the trend will continue for next year also

What I know from sources, they continued to bidding for new contracts from international companies like Mubadala, ConocoPhillips and Shell. I hope there's some new contract announcement next year 2023. Should be...

Year end all retailers/short sellers dumping. Expected tomorrow the same scenario maybe worse. If Veryslow can take the bullet at 0.14.5 to 15c then good enough, expect next year good beginning.

Putin bans oil supply to countries that comply with G7..

Having promised that it would reveal its response to the recently implemented by the G7 price cap on Russian oil exports, moments ago the Kremlin did not disappoint, and as the WSJ reports, Russian President Vladimir Putin banned the supply of Russian oil and oil products to countries that impose a price cap, allowing deliveries to those nations only on the basis of a special permission from the Kremlin leader.

More shortage in oil & gas supply. This is very good news for O&G. Rigs service will be booming like hot cakes. Grab grab while still low...

Putin bans oil supply to countries that comply with G7..

Having promised that it would reveal its response to the recently implemented by the G7 price cap on Russian oil exports, moments ago the Kremlin did not disappoint, and as the WSJ reports, Russian President Vladimir Putin banned the supply of Russian oil and oil products to countries that impose a price cap, allowing deliveries to those nations only on the basis of a special permission from the Kremlin leader.

More shortage in oil & gas supply. This is very good news for O&G. Rigs service will be booming like hot cakes. Grab grab while cheap.

Affin Hwang give TP 75 today.

Affin Hwang give TP 20 today.

China Stocks Climb on Covid Shift
The Shanghai Composite rose 0.4% to around 3,078 while the Shenzhen Component gained 0.5% to 11,035 on Tuesday, rising for the second straight session after China announced that it will end quarantine requirements for inbound travelers starting on Jan. 8, sparking hopes for a faster economic recovery. Investors also digested data showing industrial profits in China fell 3.6% year-on-year in the January-November period, reflecting economic disruptions brought by Covid restrictions. Property, industrial and commodity-linked stocks led the charge, with strong gains from Gree Real Estate (2.3%), SHN Zhenye (8.6%), China State Construction (1.7%), Zhejiang Construct (4.5%) and Shandong Chiway (5.6%). Other heavyweight firms also advanced, including Sungrow Power (3.8%), Xi'an Catering (4.9%), People.cn (1.6%), Shenzhen Infinova (6.8%) and Shaanxi Jinye (9.9%).

China Stocks Climb on Covid Shift
The Shanghai Composite rose 0.4% to around 3,078 while the Shenzhen Component gained 0.5% to 11,035 on Tuesday, rising for the second straight session after China announced that it will end quarantine requirements for inbound travelers starting on Jan. 8, sparking hopes for a faster economic recovery. Investors also digested data showing industrial profits in China fell 3.6% year-on-year in the January-November period, reflecting economic disruptions brought by Covid restrictions. Property, industrial and commodity-linked stocks led the charge, with strong gains from Gree Real Estate (2.3%), SHN Zhenye (8.6%), China State Construction (1.7%), Zhejiang Construct (4.5%) and Shandong Chiway (5.6%). Other heavyweight firms also advanced, including Sungrow Power (3.8%), Xi'an Catering (4.9%), People.cn (1.6%), Shenzhen Infinova (6.8%) and Shaanxi Jinye (9.9%).

Bankers or IB are paid to publish so don't influenced too much on it....all politic.

gbt9428
Too soon, after you will regret...

THE ERA OF CHEAP OIL HAS COME TO AN END.....

In its latest monthly report, OPEC revealed it had yet again failed to produce as much oil as it agreed to produce the last time it discussed output. And it wasn’t by a few thousand barrels per day, either. The shortfall was some 1.8 million barrels daily, but more importantly, that sort of undershooting of its own target has become a regular thing for the cartel.

Meanwhile, the United States federal government needs to buy some oil for its strategic petroleum reserve after releasing close to 200 million barrels from it this year as a way of countering fuel price inflation. Yet U.S. drillers are not in a rush to boost production. On the contrary, it seems production growth has lost its place among these companies’ top priorities.

Of course, there are also the sanctions against Russia, which many expect will hurt the country’s oil production, and that may well happen, but it has not happened yet. In fact, the oil sanctions—in the form of a price cap on maritime exports and an embargo on exports to the EU—have had no effect on oil flows out of Russia. For now.

Investment banks expect higher oil prices, despite a recent slump prompted by expectations of an economic slowdown pretty much across the globe. The expectations, now beginning to seep into trader circles, too, are largely based on China’s reversal of its zero-Covid policy. But they also probably take into account the fact that oil remains an indispensable commodity. And the era of cheap oil may well be over for good.

THE ERA OF CHEAP OIL HAS COME TO AN END.....

In its latest monthly report, OPEC revealed it had yet again failed to produce as much oil as it agreed to produce the last time it discussed output. And it wasn’t by a few thousand barrels per day, either. The shortfall was some 1.8 million barrels daily, but more importantly, that sort of undershooting of its own target has become a regular thing for the cartel.

Meanwhile, the United States federal government needs to buy some oil for its strategic petroleum reserve after releasing close to 200 million barrels from it this year as a way of countering fuel price inflation. Yet U.S. drillers are not in a rush to boost production. On the contrary, it seems production growth has lost its place among these companies’ top priorities.

Of course, there are also the sanctions against Russia, which many expect will hurt the country’s oil production, and that may well happen, but it has not happened yet. In fact, the oil sanctions—in the form of a price cap on maritime exports and an embargo on exports to the EU—have had no effect on oil flows out of Russia. For now.

Investment banks expect higher oil prices, despite a recent slump prompted by expectations of an economic slowdown pretty much across the globe. The expectations, now beginning to seep into trader circles, too, are largely based on China’s reversal of its zero-Covid policy. But they also probably take into account the fact that oil remains an indispensable commodity. And the era of cheap oil may well be over for good.

President Biden released SPR reserve purposely to cool down the rising oil price. Now, he planned to purchase or refilling back SPR...wondering what will happen to the oil price (supply vs demand), up or down.

Need PNB/Amanah support to lift up the price further. Let see

Supply shortages and insufficient investment in new supply will result in a bumper year for commodities in 2023, Goldman Sachs says, expecting the S&P GSCI commodity index to post a 43% return next year.

Commodities are set to be the best-performing asset class in 2023, the bank’s strategists said in a note.

“From a fundamental perspective, the setup for most commodities next year is more bullish than it has been at any point since we first highlighted the super-cycle in October 2020,” Jeffrey Currie, global head of commodities research at Goldman Sachs, wrote, as carried by The Australian Financial Review.


The first quarter of 2023 could be more underwhelming than the rest of the year due to the expected slowdown in economies, but the low levels of investment in oil, gas, and key metals will continue to underpin what Goldman has called a new supercycle in commodities.

The drop in Brent Crude to the low $80s is likely temporary, according to the Wall Street bank, which says that oil market participants could be too pessimistic about China’s demand.

Key metals necessary for the energy transition are also set for a bull run amid expected shortages in the coming years, Goldman and industry giants say.


Earlier this month, mining and commodities giant Glencore said that a huge shortage of copper is looming while significant mine development is lagging.

According to Glencore’s estimates, under the net-zero emissions pathway of the International Energy Agency (IEA), the world will be more than 50 million tons short of copper between 2022 and 2030.

Moreover, Goldman Sachs also said in early December that copper prices were set for a new record-high next year amid an “extremely” tight market. Next year, Goldman expects copper prices to top the current record-high of $10,845 per ton that it hit in March 2022. It raised its 12-month price target to $11,000 a ton from $9,000 per ton.

By Tsvetana Paraskova for Oilprice.com

Supply shortages and insufficient investment in new supply will result in a bumper year for commodities in 2023, Goldman Sachs says, expecting the S&P GSCI commodity index to post a 43% return next year.

Commodities are set to be the best-performing asset class in 2023, the bank’s strategists said in a note.

“From a fundamental perspective, the setup for most commodities next year is more bullish than it has been at any point since we first highlighted the super-cycle in October 2020,” Jeffrey Currie, global head of commodities research at Goldman Sachs, wrote, as carried by The Australian Financial Review.


The first quarter of 2023 could be more underwhelming than the rest of the year due to the expected slowdown in economies, but the low levels of investment in oil, gas, and key metals will continue to underpin what Goldman has called a new supercycle in commodities.

The drop in Brent Crude to the low $80s is likely temporary, according to the Wall Street bank, which says that oil market participants could be too pessimistic about China’s demand.

Key metals necessary for the energy transition are also set for a bull run amid expected shortages in the coming years, Goldman and industry giants say.


Earlier this month, mining and commodities giant Glencore said that a huge shortage of copper is looming while significant mine development is lagging.

According to Glencore’s estimates, under the net-zero emissions pathway of the International Energy Agency (IEA), the world will be more than 50 million tons short of copper between 2022 and 2030.

Moreover, Goldman Sachs also said in early December that copper prices were set for a new record-high next year amid an “extremely” tight market. Next year, Goldman expects copper prices to top the current record-high of $10,845 per ton that it hit in March 2022. It raised its 12-month price target to $11,000 a ton from $9,000 per ton.

By Tsvetana Paraskova for Oilprice.com

https://www.theedgemarkets.com/article/recession-fears-2023-are-overdone-says-rhb-ib-research

https://www.theedgemarkets.com/article/recession-fears-2023-are-overdone-says-rhb-ib-research

Biar lambat asalkan selamat...hari2 naik skt2 lama2 jadi bukit. Setiap hari naik 1c pun ckp ler..blh break 20c..haha!

OPEC’s crude oil production fell by an average of 744,000 barrels per day, according to OPEC’s Monthly Oil Market Report released on Tuesday.

Saudi Arabia’s November production fell by the most among its members, by 404,000 bpd, to 10.474 million bpd—Saudi Arabia’s lowest monthly average since May 2022.

Other significant production decreases were realized by the United Arab Emirates, which saw a decrease of 149,000 bpd in November, landing at 3.037 million bpd; Kuwait, which saw a dip of 121,000 bpd to 2.685 million bpd; and Iraq with a loss of 117,000 bpd to 4.465 million bpd.

Overall, OPEC’s average production for November fell to 28.826 million bpd—the lowest average production level since June.

Demand getting higher for crude oil as the world reserve depleted. Once China fully open the border, black fossil becomes black gold. Stick to ripe the benefits.

Wow!! Brent usd 81 now..huat!!. 0.55c on the way

Wow! Brent usd 81 now. 0.20c mari

Fusion energy ha...lol!

https://www.malaymail.com/news/malaysia/2022/12/11/clear-skies-for-aviation-sector-as-malaysia-other-countries-reopened-borders-this-year/44660

https://www.malaymail.com/news/malaysia/2022/12/11/clear-skies-for-aviation-sector-as-malaysia-other-countries-reopened-borders-this-year/44660

https://finance.yahoo.com/news/russia-may-cut-oil-output-134709319.html

Putin says will cut oil production and won't sell oil to G7 countries that imposed price cap over Russia. This could easily drive the oil price to upwards...let see

Russia second largest oil exporter after Saudi and also one of Opec+ member.

https://finance.yahoo.com/news/russia-may-cut-oil-output-134709319.html

Putin says will cut oil production and won't sell oil to G7 countries that imposed price cap over Russia. This could easily drive the oil price to upwards...let see