Posted by tkl88 > 2020-04-08 13:41 | Report Abuse

Walaoeh, Oil price now spike up crazily !
As at 1.30pm,
Nymex => $25.19 ‪(+1.56) (+6.60%)‬
Brent => $32.88 ‪(+1.01) (+3.17%)‬

Posted by tkl88 > 2020-04-08 22:12 | Report Abuse

Oil prices gain as OPEC meeting looms
OPEC+ expected to lower collective oil output substantially to trim some oversupply in global market
Ovunc Kutlu   | 08.04.2020
https://www.aa.com.tr/en/economy/oil-prices-gain-as-opec-meeting-looms/1797054

ANKARA
Crude oil prices were up on Wednesday as the upcoming meeting between OPEC and its allies, known as OPEC+, give hope to investors of potential support to prices.
International benchmark Brent crude was trading at $32.32 per barrel at 0620 GMT for a 1.4% increase after it closed Tuesday at $31.87 a barrel.
American benchmark West Texas Intermediate (WTI) was at $24.72 a barrel at the same time for a 4.6% gain after ending the previous day at $23.63 per barrel.
The oil producing member countries of OPEC+ will hold a teleconference on Thursday to discuss the low price environment and the supply-demand balance in the global oil market.
Due to the rapid spread of coronavirus, or the COVID-19 disease, weak economic activity around the world has lowered global oil demand, increasing the glut of supply in the market.
Saudi Arabia-led OPEC and Russia-spearheaded non-OPEC failed on March 6 to lower their collective output, causing a massive plummet in prices, which fell on March 30 to their lowest level since 2002.
The OPEC+ group is estimated on Thursday to lower their collective oil production level by between 10-15 million barrels per day in order to trim some of the oversupply.

Posted by Expertise > 2020-04-08 23:00 | Report Abuse

https://www.dailysabah.com/business/energy/under-us-pressure-saudi-arabia-concedes-defeat-in-its-oil-price-war-against-russia/amp

Posted by tkl88 > 2020-04-09 03:29 | Report Abuse

OMG, Oil price was damn super hot man !
As at 3.25am,
Nymex => $25.75 ‪(+2.12) (+8.97%)‬
Brent => $33.33 ‪(+1.46) (+4.58%)‬

Posted by tkl88 > 2020-04-09 04:20 | Report Abuse

‪Wow, Fabulous!
As at 4.12am,‬
Dow Jones closed at=> 23,433.57 (+779.71) (+3.44%) !

Posted by gorengking69 > 2020-04-09 04:38 | Report Abuse

Good counter. Mother dayang and brother naim will always take care of perdana

Posted by gorengking69 > 2020-04-09 04:39 | Report Abuse

Oil is testing $34. Get ready for perdana rocket to 40 cents

Posted by tkl88 > 2020-04-09 04:43 | Report Abuse

Oh My goodness,
Oil price was unbelievable spike up to the sky high !
As at 4.35am,
Nymex => $26.‪09 (+2.46) (+10.41%)‬
Brent => $33.‪54 (+1.67) (+5.24%)‬

Posted by tkl88 > 2020-04-09 05:18 | Report Abuse

Oil Spikes After Algeria Says OPEC+ Cuts Could Reach 10 Million Bpd
By Julianne Geiger - Apr 08, 2020, 2:20 PM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Spikes-After-Algeria-Says-OPEC-Cuts-Could-Reach-10-Million-Bpd.amp.html

The price of a West Texas Intermediate barrel of oil shot up on Wednesday afternoon by nearly 7% shortly after OPEC’s President gave the market fresh optimism about tomorrow’s virtual OPEC++ meeting.
“The meeting will undoubtably be fruitful in order to rebalance the market through measures we will take tomorrow,” Mohamed Arkab, OPEC’s President and Algeria’s Energy Minister told state news agency APS, according to Reuters.

While an intangible statement, the optimistic words spoken by the OPEC President seem to be just what the doctor ordered for the volatile markets as speculators try to make the most out of the oil-price plunge.
As a result of today’s spike, trading of the biggest oil ETF, the United States Oil Fund (USO), had been halted temporarily. Trading of the USO has since resumed. The USO is trading up 4.03% as of 3:03pm EDT.
All eyes remain on the potential deal that OPEC group may come up with tomorrow in what could be the largest oil production cut deal ever. Signatories to the deal could include, in addition to OPEC, Brazil, Norway, Canada, and all the OPEC+ countries that signed onto the previous deal. While some are hoping that the United States may join in the cuts, a formal agreement between the US and other oil producers appears unlikely.
Saudi Arabia and Russia, together responsible for producing more than 22 million barrels per day, are expected to make or break the chances of a production cut deal.

A 10 million bpd figure has been discussed by meeting attendees in the run-up to the meeting, although that figure would be insufficient to offset the loss in oil demand that the market has seen due to the coronavirus.

By Julianne Geiger for Oilprice.com

Posted by AlfI3 > 2020-04-09 07:58 | Report Abuse

Very positive news on O&G sector. Bravo

Posted by tkl88 > 2020-04-09 09:33 |

Post removed.Why?

Posted by foo > 2020-04-09 11:45 | Report Abuse

(April 09, 2020 )KUALA LUMPUR: Action seems to be picking up in the local market judging by the unusually high participation rate in the last few days. Total daily trading volume exceeded the five billion mark for five consecutive trading days

Since April 2, the FBM KLCI has gone up by 2.91% or 30.49 points to 1361.39. However, the FBM Small Cap Index has made a bigger leap. The index, which tracks all stocks except for the top-100 big-cap counters, soared 9.82% to 10,101.77.

Sector-wise, the Bursa Energy Index soared an outstanding 17.32% or 20.15 points to 719.71 in the last five trading days, wherein the Bursa Construction Index jumped 10.07 points or 9.72% to 152.44, portraying immense buying pressure across the two sectors.

However, it is worth noting that the trading participation rate measured in total traded value terms does not appear to synchronise with the traded volume. This may indicate that the brisk trading volume were mainly concentrated on the lower liners.
This also implies the cautious market undertone given the uncertainties on the economic front and the outbreak of Covid-19.

For example, total traded volume recorded on March 12 was 3.79 billion shares with a total of RM3.06 billion traded values, whereas yesterday’s participation rate hit 5.36 billion shares but the trade value stood at only RM2.66 billion.

Yesterday, stocks that topped the volume list were Ekovest Bhd, Hibiscus Petroleum Bhd, Mlabs Systems Bhd, Sapura Energy Bhd and Bumi Armada Bhd.
In terms of trade value, among the highest were Ekovest, Hibiscus, Tenaga Nasional Bhd, JAKS Resources Bhd and Malayan Banking Bhd (Maybank).

It is worth noting that Ekovest was the only counter whose traded value crossed the RM100 million mark yesterday.
Usually, the total traded value of the big-cap blue chips can easily breach the RM100 million mark in a brisk trading day.
Rakuten Trade Sdn Bhd research vice-president Vincent Lau highlighted to The Edge Financial Daily that net buyers in the market lately were mainly retail investors.
In particular, retail investors have been buying up shares in tandem with the surge in trading volume.
Lau noted that there could be a sector rotation playing out, in which investors were switching out from the oil and gas sector into the construction sector, probably due to optimism about the prospects of kick-starting infrastructure projects hinted by the government lately.

This means that the KLCI could need to break through major hindrances to continue its positive momentum.
Likewise, Lee noted that the small cap index is currently reaching large resistive levels of 10,250 and 10,700 points.
He agreed with the notion put forward by Lau that market participation so far had been market-driven, as starting from April 2 retail investors were the net buyers.

Posted by Expertise > 2020-04-09 15:14 | Report Abuse

Buy buy buy ....haha

Posted by gorengking69 > 2020-04-09 15:21 | Report Abuse

One of the cheapest Oil and Gas counter. Dont miss the chance during this oil rally

Posted by tkl88 > 2020-04-09 16:42 | Report Abuse

Walaoeh, Oil price spike up like mad already !
It's definately indicating that the Opec + meeting will come out a deal of ouput cut !
As at 4.37pm,
Nymex => $26.14 (+1.05) (+4.18%)
Brent => $33.90 (+1.07) (+3.26%)

Posted by tkl88 > 2020-04-09 18:02 | Report Abuse

OMG, Oil price continue to spike up sky high !
As at 5.55pm,
Nymex => $26.60 (+1.51) (+6.02%)
Brent => $34.20 (+1.36) (+4.14%)

Posted by Expertise > 2020-04-09 22:15 | Report Abuse

Come lor come lor....

Posted by Expertise > 2020-04-09 22:33 | Report Abuse

https://oilprice.com/Energy/Energy-General/Saudi-Arabia-Could-Cut-Up-To-4-Million-Bpd.html

Posted by Expertise > 2020-04-09 23:08 | Report Abuse

Tomorrow rocket lor oil counter ....huat ar

Posted by tkl88 > 2020-04-10 00:25 | Report Abuse

Wow, Congratulations to you all guys who is still keep tight tight & Sailang Armada at current low price !
Good news from the OPEC+ meeting which the output cut was Deal and the oil price then was spike up sharply!

As at ‬12.13am,
Nymex => $26.02 ‪(+0.93) (+3.71%)‬
Brent => $33.86 ‪(+1.02) (+3.11%)‬

Posted by tkl88 > 2020-04-10 00:51 | Report Abuse

Russia and Saudi Arabia agree deal on oil output cuts: Report
OPEC members are on Thursday set to discuss 'deep cuts' of up to 20 million barrels per day
By MEE and agencies
Published date: 9 April 2020 14:40 UTC
Last update: 18 min 21 sec ago

https://www.middleeasteye.net/news/russia-and-saudi-arabia-agree-deal-oil-output-cuts

Russia and Saudi Arabia have overcome all hurdles to cut oil production at a meeting of OPEC, ending a month-long price war.
Oil prices jumped after Reuters reported that the two countries have agreed to a "deep cut" in crude production.
OPEC and other oil producers were set to debate on Thursday oil cuts as big as 20 million barrels per day (bpd), equivalent to about 20 percent of global supplies, one OPEC source and a Russian source told Reuters.
"That is a global deal," the OPEC source said.
He did not specify if the United States would be involved - something Russia and OPEC producers have insisted on.
A worldwide lockdown to slow the spread of the coronavirus pandemic has cut fuel demand by roughly 30 percent and contributed to a crash in prices that took major benchmarks down by more than two-thirds.
Prices surge
Prices surged over 10 percent earlier on Thursday as producers appeared set to cut production sharply, but the exact details of the cuts remain unclear.
The OPEC and allies including Russia - a group known as OPEC+ - were in talks on Thursday to cut production sharply, with numbers as high as 20 million bpd bandied about, OPEC and Russian sources said.
That would be equivalent to about 20 percent of global supplies, to support prices hammered by the coronavirus crisis. However, it is unclear if a figure that lofty includes cuts made for economic decisions by private producers in the United States, Canada and elsewhere, or if OPEC assumes those countries will mandate cuts, which the US has not wanted to do.
A cut of 20 million bpd would be by far the biggest output cut ever agreed by OPEC. But Russia has insisted it will only reduce output if the United States joins the deal. US laws prevent coordination among private companies.
Analysts, meanwhile, said that even if such record cuts are agreed, they will not be enough.
"Ultimately, the size of the demand shock is simply too large for a coordinated supply cut," analysts at Goldman Sachs said on Thursday.
Following the OPEC+ meeting, energy ministers from the Group of 20 major economies are set to meet on Friday.
The last OPEC meeting in early March ended acrimoniously, with Russia and Saudi Arabia unable to come to an agreement to curb output as the virus spread, adding to the slump in prices.
A source briefed on Saudi Arabia's oil policy said it is ready to cut up to 4 million bpd of its production, but only from its record output levels of 12.3 million bpd achieved in April.
Russia has said it wants output to be cut from the January-March levels before Saudi production jumped.

Posted by tkl88 > 2020-04-10 04:18 | Report Abuse

Great, Dow Jones continue it’s bull run !
DJI closed at =>
23,719.37 (+285.80) (+1.22%) !

Posted by tkl88 > 2020-04-10 07:20 | Report Abuse

Oil producers agree to cut production by a fifth
* 09 April 2020 Business

https://www.google.com.my/amp/s/www.bbc.com/news/amp/business-52226236

Opec producers and allies have agreed to cut output by more than a fifth to counter the slump in demand caused by coronavirus lockdowns.
The group said it would cut output in May and June by 10 million barrels to help prop up prices. The cuts will then be eased gradually until April 2022.

Opec+, made up of Opec producers and allies including Russia, held talks on Thursday via video conference.
Talks were complicated by disagreements between Russia and Saudi Arabia.

The group and its allies agreed to cut 10 million barrels a day or 10% of global supplies. Another 5 million barrels is expected to be cut by other nations.

It said the cuts would be eased to eight million barrels a day between July and December. Then they would be eased again to six million barrels between January 2021 and April 2022.
Oil prices slumped in March after Opec+ failed to agree cuts .

In the wake of the March meeting, Saudi Arabia and Russia moved to boost production in order to retain market share amid falling global demand.
That, together with the collapse in demand for oil amid the coronavirus pandemic, help to push oil prices to 18-year lows by the end of March.

Prices have recovered some ground since then. Last week, prices jumped 20% after US President Donald Trump said he expected Saudi Arabia and Russia to end their feud.

Thursday's talks will be followed by a conference call on Friday between energy ministers from the G20 countries. It will be hosted by Saudi Arabia.

Kirill Dmitriev, head of Russia's wealth fund and one of Moscow's top oil negotiators told Reuters: "We are expecting other producers outside the Opec+ club to join the measures, which might happen tomorrow during G20."

The US has not committed itself to any cuts although it did say that its oil output was gradually reducing anyway due to plunging oil prices.
President Donald Trump had warned Saudi Arabia that the US would impose sanctions if it did not cut oil production.

Posted by RedEagle > 2020-04-10 07:24 | Report Abuse

VONTOBEL ASSET MANAGEMENT

Michel Salden, head of commodities: "Today's 'deal' did not bring much clarity so far and looks more like an invitation to the G20 energy ministers to agree on a 5 mbpd cut tomorrow which would bring the overall cut in oil output to 15 mbpd."

UNITED ICAP:

Scott Shelton, energy specialist: "While OPEC is cutting as expected, there is simply too much crude in the physical space for sale, with too few pipelines to move it and too few buyers to take it. The most expensive priced oil in the U.S. is Cushing WTI for May and that is likely to lead us to lower prices regardless of what OPEC does."

RBC CAPITAL MARKETS:

Michael Tran, managing director of energy strategy: "The market’s muted price reaction is a sobering indicator of the headwinds that remain, namely demand destruction. An acute near-term surge in crude prices would cripple refining economics and result in further run cuts."

WELLS FARGO:

Roger Read, senior energy analyst: "Until the extreme social distancing economic shutdown measures are significantly relaxed across North America, Europe and parts of Asia, OPEC+ supply cuts are simply playing catch-up at best."

BAIRD

Ethan Bellamy, senior analyst: "10 million barrels per day is insufficient to balance the market.... OPEC’s only real choice to bring the U.S. and other higher-cost producers along is to allow price to ration supply. With half a trillion in reserves, we think the Russians can outlast U.S. producers in a fight for market share."

RYSTAD ENERGY

Bjornar Tonhaugen, head of oil markets: "A 10 million-bpd deal is far lower than what the market needs at the moment. And even that seems to be of a fragile nature, as OPEC+ producers appear to struggle to agree, dragging negotiations longer than expected."

GOLDMAN SACHS

"Our updated 2020 global oil balance suggests that a 10 million barrels per day (bpd) headline cut (for an effective 6.5 million bpd cut in production) would not be sufficient, still requiring an additional 4 million bpd of necessary price induced shut-ins."

MIZUHO

Bob Yawger, director of energy futures: "It will only slow filling of storage. It's not going to save the day, but it's better than nothing."

INTERNATIONAL ENERGY AGENCY

The head of the International Energy Agency, Fatih Birol, said a production cut of as much as 10 million bpd would still result in a 15 million-bpd buildup of crude in the second quarter.

BCS GLOBAL MARKETS

Kirill Tachennikov, director and senior oil analyst: "It is not technically possible to achieve these numbers in less than a month, and it is not enough to offset current oversupply that is exceeding 20 million bpd as it stands. As a result, the challenges of oil storage gradually filling up is still a very real issue." - Reuters

Posted by Tarita > 2020-04-10 09:40 | Report Abuse

Expertise Tomorrow rocket lor oil counter ....huat ar
09/04/2020 11:08 PM





hahahahahahahahahahahahha.... SH

Posted by Expertise > 2020-04-10 10:21 | Report Abuse

haha...that day will come

Posted by limkokthye > 2020-04-10 16:32 | Report Abuse

oil down , tomorow get cheap oil

Posted by Godofgambler > 2020-04-11 12:05 | Report Abuse

Bull comingggggg

Posted by azman376144 > 2020-04-12 15:43 | Report Abuse

At least truce has been made.. and G20 undertake to work together to support the price stability.. not just opec +...

Posted by Miracles > 2020-04-12 20:48 | Report Abuse

Saudi gonna announce official selling price for may by tmr. Gap up expected.

Posted by Godofgambler > 2020-04-13 02:44 | Report Abuse

The world’s top #oil producers pulled off a historic deal on April 12 to cut global crude output and put an end to a devastating price war: Bloomberg reports. OPEC+ will cut 9.7 million barrels a day -- just below the initial proposal of 10 million.

Posted by Expertise > 2020-04-13 13:58 | Report Abuse

https://www.thestar.com.my/business/business-news/2020/04/13/opec-russia-approve-biggest-ever-oil-cut-amid-coronavirus-pandemic

Posted by foo > 2020-04-13 15:12 | Report Abuse

Which companies on Bursa have high cash and low debt
KUALA LUMPUR: The second extension of the movement control order to contain the Covid-19 outbreak — now totalling six weeks until April 28 — means that economic activities will remain subdued for at least another 14 days.
The pandemic, which has infected nearly two million and killed over 100,000 worldwide, presents the worst start possible for the recession expected ahead. As the infection curve has yet to near its peak, it is anyone’s guess on the depth of the economic downturn.
Against this backdrop, survival is the prominent concern now. Investors’ attention is drawn to companies’ balance sheets instead of growth prospects, which is widely expected to be minimal in the best-case scenario, as business volume dwindles and operating cash flow shrink.
Asia Analytica data shows that of some 880 listed companies (after excluding the 40 banks, insurers and investment trusts), 597 companies listed on Bursa Malaysia have cash that is less than their short-term liabilities.
Companies in many different sectors are underlined here, from furniture companies to retailers, automotive-related firms, and a wide range of manufacturers and trading companies.
Meanwhile, 223 listed companies have an interest cover ratio of below one times, meaning their earnings before interests and tax cannot cover interest expenses for a full year. The market capitalisation of most of these companies are below RM2 billion.
Some 321 companies were already in the red last year. Of the 599 profitable ones, around 45.6% of them saw profit decline in the period. Again, most on the list are small-cap firms, according to Asia Analytica data.
It is also worth noting that the economic downturn would be a tough test on companies’ sales quality. Companies with a high portion of credit sale with mounting receivables could be at risk amid the potential cash trap.
A random check shows that 75 listed companies or 8.2% have net gearing of over 100%. Sectors with the most companies in this category are logistics, construction, oil and gas, building materials and property development.
Others with net gearing of above 80% include power companies, telecommunications companies and building materials companies. Power producers’ liabilities are usually backed up by the steady cash flow from power purchase agreements.
On the flip side, notable sectors with low net gearing average include Internet and gas utility companies, and technology solution providers.
Of 79 generic companies with market capitalisation of above RM2 billion (ex-banks, real-estate investment trusts and insurers) only 22 have a cash ratio of above one times and net gearing of below 50%, led by Petronas Chemicals Group Bhd, Petronas Gas Bhd and IOI Corp Bhd.
As reflected by the price-to-book valuations, preference is given for companies with high cash, low debt, steady recurring income and high-quality clients, such as tech companies, and broadband providers.
There are also lesser-known small-cap companies that are cash-rich with sturdy past operations.
As a fund manager pointed out that a downturn is a brewing pot for merger and acquisition activities, as smaller, cash-rich companies with good assets or business prospects usually become undervalued after the market selldown.
The first quarter’s (1Q20) financial result will show how much cash was exhausted amid the two-week shutdown in the second half of March, while prospects of the entire half of 2Q20 being under movement restriction are still visible.

Posted by ktham > 2020-04-14 05:55 | Report Abuse

https://www.theedgemarkets.com/article/petronas-warns-project-delays-aims-keep-local-capex?type=malaysia

Posted by Expertise > 2020-04-14 15:39 | Report Abuse

https://www.google.com/amp/s/oilprice.com/Energy/Energy-General/Trump-Wants-OPEC-To-Double-Its-Production-Cut.amp.html

Posted by faizal > 2020-04-15 12:44 | Report Abuse

WTI 20 USD

Posted by EviltigerXD > 2020-04-15 16:11 | Report Abuse

Hi newbiess here...just register rakuten trade...wish to buy perdana for testing...can advise me wat is the best price to buy in? Regret dint buy when its 10sen

Posted by Miracles > 2020-04-15 20:31 | Report Abuse

Perdana uh. Now sincere speaking oil price is not good. At current level, O&G counter may suffer abit. You can check brent crude oil. O&G counter usually follow the oil prices.

Posted by nicedurians > 2020-04-15 20:32 | Report Abuse

You got ability to hold? Hold till next year can up

Posted by nicedurians > 2020-04-15 20:32 | Report Abuse

If no ability please buy some glove stock

Posted by Miracles > 2020-04-15 20:33 | Report Abuse

But i believe the price will come back. Its just the timing as not much O&G counter can survive if the oil prices stay at current for months.

Posted by Miracles > 2020-04-15 20:35 | Report Abuse

Globally they will do smtg to push up the oil price. The production cuts did not manage to lift up the oil prices, but it shows efforts of trying to stop oil prices to drop further more. I believe more measures will come up. If got big measures announced, the share price will fly again.

Posted by Miracles > 2020-04-15 20:36 | Report Abuse

These few days retracing, can see timing enter. But of cause have to bear risk if it drops back to 0.1 since this company is not so strong.

Posted by Miracles > 2020-04-15 20:37 | Report Abuse

Dayang owns share of perdana, u can refer to dayang movement as well.

Posted by Stockman97 > 2020-04-17 06:18 | Report Abuse

Im very new here and trying to learn trading. I was wondering as a small stock trial i’m comparing Velesto Energy to Perdana Petroleum what are your input in these
It is very much appreciate and do yall think these companies stock prices will drop in the near future to the low low prices it was at a month ago?

Posted by gorengking69 > 2020-04-17 10:36 | Report Abuse

Sell sell..Oil price not stable. Going down

Posted by tkl88 > 2020-04-17 11:37 | Report Abuse

Oil price already at the bottom lowest, won’t drop anymore...
Now waiting for the uptrend bullish market !
Once it spike up, then Jia Bumi Liao already !
So, want to buy Perdana at cheap price be faster !

Posted by Expertise > 2020-04-17 12:19 | Report Abuse

For people like gorengking put fd is enough

Posted by pc007 > 2020-04-17 23:32 | Report Abuse

WTI drop 11% 17USD only. Hopefully it can recover later. Monday another dump day

Posted by limkokthye > 2020-04-18 14:46 | Report Abuse

wait for 10sen