Posted by gsi723 > 2020-04-12 16:50 | Report Abuse

petronas basically need continue to pump.... govt need the revenue.... regardless..

Posted by probability > 2020-04-12 17:18 | Report Abuse

O&G decommissioning works in big demand

Wednesday, 03 Jul 2019

https://www.thestar.com.my/business/business-news/2019/07/03/og-decommissioning-works-in-big-demand

PETALING JAYA: As more oil and gas (O&G) fields in Malaysia and the region approach the end of their lifespan, the demand for decommissioning works is set to surge.

The value of decommissioning contracts in the region, over the next three years, is expected to reach up to RM6bil, according to estimates by industry players.

UOB Kay Hian Research analyst Kong Ho Meng said while there have not been any large tenders awarded by Petroliam Nasional Bhd (Petronas), it expected contracts to be rolled out from next year.

In Malaysia, he said, about 11% or about 35 of the over 300 platforms have been operating for over 40 years, and more than 200 wells have already been identified to be plugged and abandoned.

Decommissioning is a rapidly developing sub-segment in the O&G sector, which refers to works to safely dismantle and remove wells and platforms to prevent environmental damage.

The growing requirement for decommissioning works relates to the commitment from oil majors to reduce their impact to the environment via late-life asset management.

There are two key services for decommissioning – well abandonment services and upstream facilities dismantling.

In its 2019-2021 activity outlook, Petronas noted the requirement for 50, 40 and 60 well abandonment for the local fields in 2019, 2020 and 2021, as well as the need for the dismantling of several platforms or facilities.

“Activities are expected to intensify as considerable assets have been operating beyond 40 years,” Petronas said in the report.

According to UOB Kay Hian, other indirect beneficiaries from well abandonment works are DAYANG ENTERPRISE HOLDINGS BHD, Petra Energy Bhd, Icon Offshore Bhd, Perdana Petroleum Bhd and DELEUM BHD.

..............................................................

Kong, in the report, added that major offshore commissioning players like Dayang Enterprise and Petra Energy were also looking at opportunities in the decommissioning space.
..........................................

Posted by beginner > 2020-04-12 17:27 | Report Abuse

Oil price history low now, is amazing dayang can still maintain above rm1

Posted by Hush77 > 2020-04-12 17:39 | Report Abuse

previously the old man kyy boasted how he make around rm 58 million from dayang...- the fatest gain in history...
now he say he sold dayang at loss.. means he surrender back the rm 58 mil? and on top of that lost.. the fastest loss in history?
up till last friday april the old man still wrote bullish article on dayang, but the moment he sold all he will now say dayang is shit..
so now u all know, this old man is certainly full of nonsense, and whoever listen to him better be careful..

Posted by Kancil4848 > 2020-04-12 17:46 | Report Abuse

Many still think DAYANG can fly again
Just like hengyuan share top rm20
And many still hoping n pray hard it will reach rm20 again
Many soldier give up along the way
That the realty .
More contract awarded may get reviewed again

Hard to give up on hope it will reach rm3 again
More they pump oil the more they making loss
Hard to believe but its true
Many awarded contract may put on storage
On CREDIT and claim back after 2/3 years later

Posted by probability > 2020-04-12 17:46 | Report Abuse

In summary:
...........

20% oil throughput reduction by Petronas inline with OPEC beginning May will result with MYR 1 Billion revenue/yr for Dayang.

With the expected surge in decommissioning work by Petronas alone (MYR 6 billion over 3 years) which is MYR 2b /year a 20% market share means MYR 400 M per annum for Dayang.

For regionally, even if it captures 1% of the MYR 42b/year thats additional MYR 400m/yr

................

This means a total potential revenue of MYR 1.8 billion per annum with a permanent 20% oil throughput reduction by Petronas.

Posted by Philip (Honesty is expensive. Dont expect frm cheap ppl ) > 2020-04-12 17:50 | Report Abuse

Not permanent probability. It's a tapered reduction, with heavy reductions this month and slow increase in production every few months.

Posted by probability > 2020-04-12 17:51 | Report Abuse

Ok noted Philip. Thanks

Posted by gsi723 > 2020-04-12 17:51 | Report Abuse

When enough people sell him back at 60c/80c or even 1.00, this sama old man will write a different version...
Note: he did say that he will buy back again...

Posted by paktua73 > 2020-04-12 17:55 | Report Abuse

paktua sing..
this song just for old man who..
always play a fool around n around..
where he go stock will play a same pattern again n again..

let sing a song..
a real song to kyy..

paktua sing louder..

round n round..
there's one takes it all..
and there's one takes the fall..

one who never wins
and there's one who stands again
there's one who lives in pain

and there's one who has no shame
there's one who sell the lies
and there's one who make the alibis

round and round
they go
where were gonna stop
nobody knows


https://youtu.be/it_4F9KVCuY


tut tut
there's one who make the rules

Posted by mkme75 > 2020-04-12 17:58 | Report Abuse

Meanwhile in Saudi Arabia some thing big is cooking,probably more cuts to be announced to calm the oil market.

Read
Saudi Arabia is delaying a key pricing decision for its crude exports yet again as the kingdom’s talks to secure agreement among global producers for a massive coordinated supply cut stretch into a fourth day. State producer Saudi Aramco is now set to decide on and announce pricing for May crude exports on Monday,(SA time)

Posted by Hush77 > 2020-04-12 18:06 | Report Abuse

Well at least the bigger boys agree to cut 10 mil barrel.. mexico is just a small part of opec and their production is not material...
if compare to saudi iran iraq or russia or US shale..
Anyway trump can control mexico decision usually.
As mexico depends on US for a lot of things

Posted by gsi723 > 2020-04-12 18:09 | Report Abuse

thanks Probability for the sharing, especially Petronas 2020-2022 report which is insightful...

No doubt, there will be some review/ adjustments, Petronas activities is not going to stop altogether
>>>
Medium Term Outlook – Post 2022
• Steady outlook can be expected for decommissioning projects as 44 per cent of facilities in Malaysian waters are operating beyond design life

Posted by probability > 2020-04-12 18:20 | Report Abuse

@kancil4848...do you know about hengyuan business...do you actually know the meaning of 'crack spread'?

@gsi723, thanks for pointing out that info from pg 56 - even i missed that information

Posted by probability > 2020-04-12 18:30 | Report Abuse

you think petronas spends billions just for fun?

It derives revenue of 270 billion with MYR 52 Billion profit per annum

Meaning its COGS ~ 200 billion per annum

It will never compromise on aspects related to environment (decommissioning) and safety (maintenance) just to save 1-2 billion.

Posted by Kancil4848 > 2020-04-12 18:41 | Report Abuse

Their revenue projection is turning upside down by covid 19

Posted by probability > 2020-04-12 19:02 | Report Abuse

https://www.thestar.com.my/business/business-news/2019/12/24/malaysia-spot-crude-premiums-hit-multi-year-high

Separately, ConocoPhillips has sold a 600,000-barrel Kimanis cargo loading on Feb 17-Feb 21 to an Australian end user at a premium of above US$9 a barrel to dated Brent, the sources said.

Premium of US$9 a barrel against Brent
......................................

earlier the oil was having less than US$5 a barrel premium in 2018.

these will have significant boost on profitability of Petronas (free US$4 per barrel on bottom line)

Its Capex for the Hook-up and construction falls under capex...and it would not affect the profitability of Petronas. Thus, the current reduction on throughput would barely change its capex decisions unless its really running out of cash.

Posted by Zuliana > 2020-04-12 19:29 | Report Abuse

Omg, Kyy still can fool many newbies and oldbies.
Pity ikan bilis. Don't trust anyone. Your life is in your hands.

Kyyy is a Coronaviruskyy in both Bursa and i3 sites.
Do newbies and oldbies try to do deal with Coronaviruskyy???

Posted by KAQ4468 > 2020-04-12 19:39 | Report Abuse

Kah Kah Kah

Posted by Investsucess Trader > 2020-04-12 19:41 | Report Abuse

Don't trust kyy, better trust KY.

Posted by Boon Keng > 2020-04-12 19:57 | Report Abuse

Tmr might GAP down below 1.10. Take care guys!

Posted by JayC88 > 2020-04-12 20:00 | Report Abuse

KY can do what?

Posted by Endgame > 2020-04-12 20:03 | Report Abuse

KYY is the Stock God, he will never and he also shame for loss, so he will support Dayang at what ever price!

Posted by Endgame > 2020-04-12 20:03 | Report Abuse

Wait his great article to attract buying force

Posted by digi_three > 2020-04-12 20:04 | Report Abuse

Keep calm and invest in Dayang ....

Posted by digi_three > 2020-04-12 20:07 | Report Abuse

The only good reason to sell it now is IF you already earn your profit and plan to buy Dayang back at a lower price. Otherwise, keep calm, sit back and relax ... kikiki

Posted by mkme75 > 2020-04-12 20:24 | Report Abuse

Breaking News : G20 having final meeting today at 16.00GMT(12am midnight).Urgent call from Saudi A. Source saying Aramco OSPs for May will be announced after the meeting.. keep our fingers crossed.

Posted by ramunia > 2020-04-12 20:49 | Report Abuse

Suprrbull, where did you get the the news of May pricing at us15?

Posted by mkme75 > 2020-04-12 20:54 | Report Abuse

please dont post garbage ... G20 already confirmed a reduction of 10milB and now its looking for more cuts...

Posted by Targeted > 2020-04-12 20:55 | Report Abuse

I predict a total cut of more than 10mil, maybe even up to 14mil BPD.

Posted by Goodprofit > 2020-04-12 20:55 | Report Abuse

not possible USD15 , USD27-30 WTI on monday

Posted by gsi723 > 2020-04-12 20:57 | Report Abuse

those world leaders are more desperate than any of us... >>> “Unmanageable chaos” if oil negotiations fail: that’s threatening the U.S. oil industry, wrecking the budgets of oil-dependent nations and making it harder for central banks to respond to the virus shock...

Posted by whenarmada > 2020-04-12 21:03 | Report Abuse

superbull168, haha. supercurse 168. please stay out of this forum, if u wanna put garbage, we need to focus in this trying time

Posted by aireez > 2020-04-12 22:45 | Report Abuse

No matter what will going on to oil price ... at the end the top 3 oil leaders will never let the thing drag along which impact their country economy and Income / Future
No matter what will going on to oil price ... Next week onward Foreign Investors will collect what ever potential share offer at BSKL including " DAYANG " due to our MCO performance and Government integrity to control the Covid 19 spreading and the same time care the economy grow which certain industrial will be start moving with special monitoring ( SOP ) during MCO 3

Posted by john1 > 2020-04-12 23:11 | Report Abuse

What going to happen ? Invest carefully.

Posted by uncle ykk > 2020-04-13 00:31 | Report Abuse

Gap down 30%

Posted by Boon Keng > 2020-04-13 00:40 | Report Abuse

Must run as soon as possible. This uncle not play play this time

Posted by huntertee > 2020-04-13 00:41 | Report Abuse

Can collect again at rm1

Posted by Targeted > 2020-04-13 00:44 | Report Abuse

Kyy Already sell, why worry

Posted by keychain > 2020-04-13 01:22 | Report Abuse

Economy no good! Thats all!

Posted by JCChan69 > 2020-04-13 02:13 | Report Abuse

OPEC and allies finalize record oil production cut after days of discussion
https://www.cnbc.com/2020/04/12/opec-and-allies-finalize-record-oil-production-cut-after-days-of-discussion.html?__source=iosappshare%7Cnet.whatsapp.WhatsApp.ShareExtension

Posted by mkme75 > 2020-04-13 02:48 | Report Abuse

please read :

OPEC ministers reportedly have reached an agreement to cut oil production, agreeing to a 9.7M bbl/day reduction with a cut for Mexico of just 100K bbl/day instead of the 400K bbl/day sought in the group's original plan (CL1:COM).

The U.S., Brazil and Canada would contribute a combined 3.7M bbl/day to output reduction, according to initial reports.

Posted by shadowz > 2020-04-13 04:31 | Report Abuse

Wonder how would market perceived this, sell on news, sell big on disappointed news ?

Posted by Mabel > 2020-04-13 06:04 | Report Abuse

@Boon Keng Must run as soon as possible. This uncle not play play this time
13/04/2020 12:40 AM

Please run...

Bye...

Posted by Mabel > 2020-04-13 06:06 | Report Abuse

Only sell because you work out the fundamentals or technical or both to reach that decision, don't do it because KYY do it. KYY is just a lucky person to live and trade during the days when you could buy literally anything and still make a good sum aka an actual boomer. Follow any of his calls these days and you'll be as good as dumping your cash into the trash can.

Meow

Posted by Mabel > 2020-04-13 06:10 | Report Abuse

This week will go down in history.

The biggest-ever production cut has just been agreed upon by what can now be deemed the largest oil cartel in history.

10 million barrels per day are about to be taken offline and the U.S., usually a champion of free-market economics, appears to have caved to OPEC+ demands that it regulate its output.

So there you have it. The oil war is over and the great KYY sold all his Dayang holding

What does this mean?

Well it depend on each individual. Those who has been following him religiously will stay out. Those that is not following him will take this opportunity to collect..

Meow..

Posted by valuelurker > 2020-04-13 06:17 | Report Abuse

The rise of the stock market since the mid-March capitulation was built on retailers. And so...

Weak as it was, so shall the foundation crumble

Sing with me my fellow comrades

60ccccc cumminggggg

Posted by Lucky81 > 2020-04-13 06:28 | Report Abuse

down down down.

Posted by Targeted > 2020-04-13 06:31 | Report Abuse

Premature ....

Posted by Dragon20 > 2020-04-13 06:39 | Report Abuse

My prediction this share will fall 50% in short term