By the way who is the owner of Gulf of Mexico?

Since everyone started drilling again will more oil find flooding the market?

The Offshore Oil Business Is Gushing Again
Rigs that haven’t been used in years are setting out to sea as demand for energy surges. ‘Everyone started drilling again.’

Transocean’s $1.2 billion Deepwater Titan, which will soon drill for oil in the waters of the Gulf of Mexico. TRANSOCEAN
By Bob HendersonFollow
Jan. 21, 2023 12:00 am ET

The $1.2 billion Deepwater Titan sat idle in a Singaporean shipyard for five years, looking like an abandoned cruise ship with a derrick attached to its deck. Soon this vessel that spans nearly three football fields will depart for the deepest waters of the Gulf of Mexico, where its crew will be able to drill 8 miles below the seafloor in search of oil for Chevron Corp.

The hunt for offshore petroleum is on again, fueled by a surge in global demand for energy, supply disruptions triggered by the war in Ukraine and crude prices that remain above prepandemic levels. Other giant rigs such as Titan that were dormant near the end of the last decade are also now operating in deep waters along the coast of Brazil, while rigs lacking propulsion are mining shallower waters in the Middle East after hitching rides to that part of the world on tugboats.

Exxon knew it could be damaging the planet. But the research was never made public.

For years, climate-change activists have marched under placards daubed with the legend: “Exxon knew”. The oil giant, they said, had uncovered proof decades ago that burning fossil fuels was heating up the planet.

Now a paper published last month seems to suggest that the activists were right all along.

Drawing on research from 32 internal documents produced by Exxon’s scientists between 1974 and 2002, together with 72 peer-reviewed publications to which the company’s staff had contributed between 1982 and 2014, the paper showed the fossil fuel giant’s predictions concerning global warming have now proved to be “startlingly accurate”.

Contained within this documentary trove were 16 different temperature projections that had been calculated by the oil giant’s in-house climate models. They show that Exxon forecast global warming could occur at a rate of roughly 0.2C a decade. They were right. In fact, the study concluded that the forecasts made by Exxon’s boffins were more accurate than those made by Nasa’s scientists.


Oil and gas companies are facing dozens of lawsuits in the US in which they are accused of deceit and responsibility for climate damages. The attorney general of Massachusetts, for example, has alleged Exxon possessed “long-standing internal scientific knowledge of the causes and consequences of climate change” and engaged in “public deception campaigns”.

Joe Biden, the US President has pledged to hold fossil fuel companies accountable. Earlier this week, the Texas-based oil supermajor revealed it raked in a record profit of $55.7 billion (£45 billion) last year, thanks to surging energy prices following Russia’s invasion of Ukraine, which will likely add to the political scrutiny it is facing.

Is this new study the smoking gun that proves Exxon did know about the threat of climate change from burning fossil fuels? The authors of the study claim it does.

“Our findings demonstrate that ExxonMobil didn’t just know ‘something’ about global warming decades ago – they knew as much as academic and government scientists knew,” they write

*Why should companies recruit people over 60 for senior and responsible positions ?*

*Because they are more productive than those below 60 !*

*A massive study in America has found that the most productive age in a man's life is 60-70.*

*From 70-80 is the 2nd most productive age.*

*The 3rd most productive age is 50-60.*

*The average age of a Nobel Prize winner is 62.*

*The average age of a CEO in a Fortune 500 company is 63.*

*The average age of the pastors of the 100 biggest churches in America is 71.*

*The average age of a Pope is 76.*

*This tells us somehow God has designed that the best years of your life are 60-80 !*

*IT IS WHEN YOU DO YOUR BEST WORK.*

*A study published in NEJM found that at 60 you reach your peak of potential and continue up to 80 !*

*So, if you are between 60-70, or 70-80, you have the best and second best years of your life with you !*

Source:
*New England Journal of Medicine: 70.389 (2018)*

⏯ _*All senior citizens need not worry about age at all. Be Happy*

Exxon and Shell Chairman should be held responsible, accountable and answerable for exceesive profit and greenwashing their carbon footprint that cause winter storm of negative 30+ degree F in USA.

Subpoena will be issued to Exxon and Shell Chairman for congressional hearing for them to answer the charge of crime against humanity and climate change.

Thinking of top up CMSB.
BobAxelrod, what is your opinion on CMSB?

102796276 01/11/2022 Brought Forward 20,000 4.3065
102947637 02/11/2022 Sell 2,000 4.9000
102947728 02/11/2022 Sell 1,000 4.9100
102947939 02/11/2022 Sell 1,000 4.9200
102947952 02/11/2022 Sell 1,000 4.9300
102948031 02/11/2022 Sell 1,000 4.9400
102948088 02/11/2022 Sell 1,000 4.9500
103056572 17/11/2022 Buy 10,000 4.4000
103056790 17/11/2022 Buy 2,000 4.3800
103092838 22/11/2022 Buy 4,000 4.4100
103108751 23/11/2022 Buy 2,000 4.4600
103136387 25/11/2022 Buy 2,000 4.5700
103136452 25/11/2022 Buy 3,000 4.5600
103136541 25/11/2022 Buy 2,000 4.5300
103139072 25/11/2022 Buy 2,000 4.5200
103139670 25/11/2022 Buy 2,500 4.5100
103140459 25/11/2022 Buy 2,500 4.5100
103153030 29/11/2022 Buy 2,000 4.5400
103160130 29/11/2022 Buy 3,000 4.5500
103161718 30/11/2022 Sell 10,000 3.7200
103161758 30/11/2022 Sell 10,000 3.7500
103162653 30/11/2022 Sell 5,000 3.6100
103163740 30/11/2022 Sell 5,000 3.7200
103164062 30/11/2022 Sell 5,000 3.7200
103164198 30/11/2022 Sell 5,000 3.7300
103165315 30/11/2022 Sell 5,000 3.6900
103165607 30/11/2022 Sell 5,000 3.7000
103174389 30/11/2022 Buy 500 3.5700
103892766 01/12/2022 Brought Forward 500 3.5700

By the way, I sold all my HRC and call warrants after Q3 result out and just bought back 500 units to qualify myself as shareholder.

According to qqq3 Q3 result is unaudit hence in Q4 all the mistery loss will become Q4 .........

But unfortunately for those call warrants holders it come too late.

qqq3,
My report is not a short report for shorting purpose but a report in good faith for common good of company, employees and minority shareholders.

No way HRC made such a huge losss in Q3 when all the other refineries were making profit.

China’s Imports Of Crude Oil From Malaysia Hit Record High
By Tsvetana Paraskova - Jan 20, 2023, 6:30 AM CST
Chinese imports of crude oil from Malaysia surged in December to a record 1.3 million barrels per day (bpd), placing Malaysia – whose daily crude production is three times lower – third among China’s biggest crude oil suppliers, only behind Saudi Arabia and Russia.

Chinese crude oil imports from Malaysia exceeded the volumes of crude purchases from OPEC heavyweights such as Iraq and the United Arab Emirates (UAE) last month, according to data from the General Administration of Customs of China cited by Bloomberg.

The volume of China’s imports of crude oil from Malaysia was three times the average daily production from the Southeast Asian producer between January and September 2022.

This has led many analysts to speculate that a large part of the crude from Malaysia – a known hub for ship-to-ship (STS) transfers – actually originated from producers under sanctions such as Iran, Venezuela, or Russia.

Generally, independent Chinese refiners are unfazed by sanctioned oil as their priority is to buy low-priced crude and make good profits refining it.

China continues to buy Iranian and Venezuelan crude, often masked as crude from Malaysia or Oman, various analyses and investigative reports have found over the past few years.

Venezuela is using false documents and tankers linked to Iran and is known for carrying sanctioned Iranian crude in the past, a recent investigation by Reuters showed. Venezuela is selling oil to Chinese refiners, passing it off as Malaysian crude in documents, the investigation showed.

Last year, Chinese customs data at times showed so many imports from Malaysia that analysts and observers believe that China continues to import sanctioned oil passed off as coming from Oman or Malaysia.

Meanwhile, Saudi Arabia was again the single biggest oil supplier to China in 2022, despite a surge in Chinese purchases of crude from Russia, which stayed second-placed on the list of top suppliers to the world’s largest crude oil importer.

By Tsvetana Paraskova for Oilprice.com

Sankey further noted "oil friendships are greasy" and there's a lot of different ways to move Russian oil around the world bypassing the price caps.

"One of the things people have highlighted is look at Malaysian oil. Its crude oil exports to China is at 1.5 million barrels a day," said Sankey. "Malaysia only produces 400,000 barrels a day. I don't think that's Malaysian crude. So there's plenty of stuff moving around outside these ... theoretical caps. "

The biggest U.S. refiners expect refining margins to remain strong this year and into 2024, on the back of the EU ban on seaborne imports of Russian fuel and a rebound in Chinese demand, executives said on the earnings calls this week.

The EU will ban—effective February 5—seaborne imports of Russian refined oil products and around 1 million barrels per day (bpd) of Russian diesel, naphtha, and other fuels need to find a home elsewhere if Moscow wants to continue getting money for those products.

“Uncertainties remain around the pace and impact of China's recovery, the magnitude of a potential US or global recession, and the impact of Russian product sanctions. But despite these unknowns, we believe that the current supply constraints and growing demand will support strong refining margins in '23,” Marathon Petroleum’s CEO Mike Hennigan said on Tuesday.

@BobAxelrod,
Thanks for the clarification.
By the way don't be too serious, I just try to pull your leg.

How to set GPS to Mars when both Earth and Mars are moving round the Sun?

Wonder which sucker countries paying for oil and gas record profits?

Oil and gas giant Shell has reported record annual profits after energy prices surged last year following Russia's invasion of Ukraine.

Profits hit $39.9bn (£32.2bn) in 2022, double last year's total and the highest in its 115-year history

The flight to moon involved going round the earth to build up speed before you can take off to the moon.

My aim is not to win the battle but to win the war. And that war can only be won by more and more minority shareholders exercise their rights to hold BOD and management responsible, accountable and answerable.

I am eager to see how HRC talk the talk and walk the walk on their whistleblowing policy.

My main take away is not on promoting INSAS but promoting shareholders activism: Shareholder activism is not a privilege - it is a right and a responsibility. When we invest in a company, we own part of that company and we are partly responsible for how that company progresses. If we believe there is something going wrong with the company, then we, as shareholders, must become active and vocal- Mark Mobius.

I admire Jack Ma priority “Customer first, Employees second and Shareholder third”.

Without customer there will be no sales. Without employees there will be no product for sales. Without shareholders fund there will be no capital to employ employees to make product. Or in other words as long as customers is happy (Buy more), employees is happy (produce more efficiently) then for sure business will grow and shareholder will enjoy the dividend/share price appreciation and proud to be part owner of such a wonderful company. (Ask Jonny English to explain what a wonderful company is?)

But in Malaysia I am very sad that some of the CEO of public companies are self serving in dipping their hand into the cookies jar, treating the company as their own private piggy bank and their priority is Me first, Me second and Me third.

Nothing destroy the share value of the company faster than a self serving or a conman CEO and many people lose his/her life saving and some even commit suicide because of insider con job/scam. The conman/scammer get away with murder because good man do nothing until when the victim is his own family member or close friends then only they regret not doing something to stop or expose the scam.

We as minority shareholders are perfectly capable and able to stop it before it happen if we just care to attend AGM ask the hard questions and hold the BOD and external auditor accountable. Follow up and report any irregularities/red flags to SC/Bursa.

Do not live a life of regret, remorse and guilt like spider man (Peter Parker) due to his selfish misjudgment and let go a robber that he can easily caught, who later turn up as murderer of his Uncle Ben. Knowledge is power and with great power come great responsibility.

I would like to thank the organizer for giving me the opportunity to share my presentation with you. I’m grateful to i3 bloggers and commentators for sharing their knowledge in i3 because Knowledge, if kept to your-self, has no value. Only by sharing, we create the value. Let’s build a community of Giant Redwoods in i3 where we support and hold up each other.

Dear Mr. Lee,

Thank you for including MSWG in the loop for your whistleblowing process.

As MSWG is not a Regulator, no investigation or enforcement will be carried out by us. However, we will take note of the highlighted issues and raise the relevant questions at their next AGM.

Thank you.

Regards
Complaint Unit

By the way previously SC and Bursa do call me for a joint meeting.

Or for that matter call ambulance.

I am not so smart and bright so may I ask if I am not mistaken there are thounsands of road accidents everyday so whose responsibility to report road accident?

Dear Sir,

Reference is made to your e-mail on the above matter.

We have escalated the complaint to our line department concerned for their further action. The assessment into the matter you highlighted may take time, depending on the complexity of the issues raised. However, we will undertake the necessary actions to ensure that your complaint is looked into accordingly and will take the necessary enforcement actions if there is any breach of Listing Requirements.


As we do not play the role of ombudsman nor do we conduct arbitration, in the event of conflicts or financial losses, the aggrieved parties need to file the claims through the appropriate legal process in court.


We will also make the necessary referral to other relevant authorities should we come across any potential breaches of other regulations / Acts (other than the Listing Requirements).


Thank you and have a good day.

Bursa 2U
Bursa Malaysia Berhad

A-G is directly appointed by the PM and given absolute power under Article 145(3) at his discretion to institute, conduct or discontinue any proceedings for an offence.

SO AG decided to compound SERBA instead of institute prosecution in court of law.

Bursa listing requirement/regulation (Breach of disclosure of information offence)

SC Capital Markets and Services Act 2007 (Breaches of fiduciary duties of directors and accounting fraud)

So I took the same path around their Internal Whistleblower Dept then swing to..........

Actually the flight path to moon is fly around earth then swing to the moon. The return trip also fly around moon then swing back to earth.

Good morning,
By the way my email is with CC to ....... follow by official complaint to .........

By Byun Hye-jin: Published: Jan 2, 2023 - 15:33 Updated: Jan 3, 2023 - 18:06
Hyundai Oilbank, one of South Korea’s leading refiners, said Monday that it handed out 1,000 percent of base salaries as bonuses to its staffers.
The company declined to disclose the specific amount of the salaries given. In 2021, its employees an average of 121 million won ($94,800) per person including bonuses at a 600 percent rate.
The refiner’s lump-sum bonuses came in line with the refining industry’ stellar performance last year. In the third quarter alone, Hyundai Oilbank’s operating profit skyrocketed by 226 percent on-year to 2.8 trillion won. Adding the fourth quarter results, last year’s cumulative profit will increase even more, sources said.

Other major refining companies – SK Energy, S-Oil and GS Caltex – will soon decide the bonus rates as well.
“We haven’t decided on the bonus yet, but it is expected to be more or less similar to Hyundai OilBank’s,” said a company official from a major oil refiner who requested anonymity.
Last year, SK Energy and GS Caltex provided 1,000 percent of base salaries as extra payment to employees, while S-Oil gave bonuses at a 1,400 percent rate

My Q3 result prediction was based on public available information on crack spread.
What I miscalculate was the high premium paid for the crude by HRC.
Note:All the korea refineries make so muck profit untill they pay their employees 10 years bonus.

Each barrel of crude oil is refine breakdown into 3 major component product, with largest component is diesel, second is RON gasoline and lastly refine jet fuel

1. Gasoil/diesel crack spread chart (historical highest level range)
https://www.tradingview.com/symbols/NYMEX-GOC1%21/

2. Gasoline/petrol RON 92 crack spread spread chart (normalize level range)
https://www.tradingview.com/symbols/NYMEX-D1N1%21/

3. Kerosene/ jet fuel crack spread (at historical highest range level)
https://www.tradingview.com/symbols/NYMEX-ASD2!/

Yes he was dean of chemical faculty.

I just exercise my rights as general public and minority sharholder as what is stated in HRC whistleblowing policy.

Nothing more and nothing less in reporting my genuine concern in good faith to Whistleblowing commitee to start an inhouse investigation for the common good of company, employees, shareholders and etc.

Send.
Will wait for HRC, SC and Bursa respond.

Update: 31/1/2023: Thank all for your valuable comments. I make minor amend to No.5 with "concern/allegation" as suggest by SarifahSelinder. Will send out thin noon.

qqq3,
I can't be everywhere and my intention of this article is promoting and empowerment more minority shareholders to assert their rights to hold BOD and Management responsible, accountable and answerable and report red flag to SC and Bursa.

qqq3
My concern is now on the wellbeing of HRC employees and the company and not about whether I got it right on Q2 and Q3 result.

qqq3,
Philip is my UM senior and I can ask him about your full name, location and picture so please show some respect on my article and delete unnecessary comments. you can post it elsewhere

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse
qqq, please show some respect on my article and delete unnecessary comments. you can post it elsewhere. As you know I already have your picture, full name and location which I shared with you on telegram. And I know for a fact that you talk much nicer in real life but act very poorly on I3, why?
---------------

Good morning qqq3,
Can you please stop your half past six lecturing on your misinformation accounting.

Dear SarifahSelinder,
Thank you for your well wishes. I sincerely hope Jaks will do well with the soon to be/over due dividend from JHDP.

Dear SarifahSelinder,
Nice of you to drop in. How are you lately?
It is not proper to hint of physical threat or intimidating remark on an open forum. It might open to many interpretations.

Good morning qqq3,
Since when do I implied that the whole idea of hedging is to make sure every quarter report $ 2 EPS?

My understanding of hedging is to protest the refining margin and inventories value. Hence what ever lose in physical refining margin and stocks loss should be recovered by hedging (refining margin and inventories hedging derivatives gain)

PS: Now I understand why people call you fake accountant.

Good morning qqq3,
Have you know of a saying win the battles but lose the war?

My war is on empowering more minority shareholders of their rights to hold BOD and Management responsible, accountable and answerable beside raising red flag to SC and Bursa.

So did I lose the war, when I know I had done something for the greater common good and have my peace of mind in doing so?

By the way have you found your peace of mind lately in cycling?

qqq3,
The only thing necessary for evil to triumph in the world is that good men do nothing.

I just do my small part trying to prevent the triumph of evil, how about you?

qqq3,
I am suggesting why pity a billionaire when you have show none for the victims of insider/syndicate pump and dump scam.

qqq3,
So am I discrimination of China investments? Or I too make complaint to SC and Bursa on Malaysian run company?

qqq3,
Just to rebut your falsehood narrative below:
qqq47660 What sslee doing is not right....this is pure and clear case of discrimination of China investments.....
28/01/2023 8:23 PM

I cut and paste my previous complanit on Jaks to SC and Bursa:

Dear SC and Bursa,

The tone and the contents of IR answers to my questions imply that I am incompetent in legal and accounting jargons to understand the basic accounting and legal implication stated in the proposed disposal announcement dated: 29 September on the disposal of JSB 51% equity in JIC to ICD for consideration of RM1.00. When the fact is salient features of SPA were not included in the proposed disposal announcement. And subsequent confusing/misleading/manipulated financial statement Q3 (Net profit of RM 101,786,000 and Net profit to shareholder: RM 26,746,000) and Q4 (Net profit of RM negative 199,536,000 and Net profit to shareholder: RM negative 103,188,000)

I refer to SC 2020 annual report: In 2020, the SC continued its efforts to facilitate the establishment of an independent wholly-owned Bursa Regulatory Subsidiary (Bursa RegSub) to assume the regulatory functions currently undertaken by Bursa Malaysia. The establishment of the Bursa RegSub was announced in February 2020. Efforts were made to put in place the necessary governance structure and regulations, and facilitate amendments to Bursa Malaysia’s rules to support the functions at the Bursa RegSub.

I am sure Bursa has professional legal and accounting teams to carry out the regulatory functions thus I appeal to SC and Bursa to investigate JAKS Board to ascertain whether they have:

1. Committed an offence of furnishing false or misleading financial statements to Bursa Malaysia under section 354(3)(f)(ii) of the Capital Markets and Services Act 2007 (CMSA) on disposal of JSB 51% equity in JIC to ICD for consideration of RM1.00?

2. Committed an offence under Companies Act 2016: Section 213: (1) A director of a company shall at all times exercise his powers in accordance with this Act, for a proper purpose and in good faith in the best interest of the company. For not taking any legal action against any other liable party (LAD of hundred over millions accumulated since 4Q2016) in late delivery of residential units to purchasers.

3. Committed an offence under CAPITAL MARKETS AND SERVICES ACT 2007 by fraudulently writing off the JIC intercompany debt that benefited ICD at the expense of the company.

Pity kj????
Most likely kj is a billionaire.

qqq3,
Mind telling me which parts is falsehood when what I disclosure is made in good faith based on reasonable grounds as what is espouse by HRC WHISTLEBLOWING POLICY