im so happy to tell you what i said a few week a go now become reality that oil price BRENT as per expected will touch 70 - 80 USD. It is very simple, many OPEC country especially those from middle east need oil price to go beyond 80 USD because they need to cover back ballooning debt and to pay their expensive budget and stimulus package due to COVID 19. Many or of this country depend almost 60 %- 90 % on oil revenue. They have been draining their own coffer last year and in order to survive they need Oil above 80 USD and beyond.
AmInvestment Bank said currently, 56% of Petroliam Nasional Bhd's (Petronas) 350 facilities are operating beyond the assets’ designed life, and 38% of the 750 pipelines, while 45% of the 3,000 wells are idle with over 500 wells expected to be permanently plugged by 2030.
The investment bank also noted that Sapura Energy Bhd’s integrated service platform is well positioned to secure these jobs, given the group’s underutilised heavy installation vessels currently, while former local EPCIC players such as Barakah Offshore Petroleum Bhd is still under Practice Note 17 (PN17) status.
It noted that higher vessel demand to support drilling and projects, rising to 172 this year from 141 in 2020, should support operators such as Icon Offshore Bhd, Perdana Petroleum Bhd and Alam Maritim Resources Bhd.
Thanks casion. We've about 15 vessels with different classes eg. ABS and DNV. Full operations now and all of us are very busy since Dec last year. Business has never been this good. I am also a small shareholder. Hope for the best :D
The oil glut built up during the coronavirus pandemic has almost gone and stockpiles will slide rapidly in the second half of the year, according to an assessment of the market from an OPEC+ committee. A ministerial group is gathering in Vienna, before a full meeting that is expected to ratify a scheduled output increase for July.
In 2021, Tengku Yusof said the group’s subsidiary Perdana Nautika Sdn Bhd was awarded a licence by Petroliam Nasional Bhd (Petronas) to provide marine vessel chartering services to the national oil company and its petroleum arrangement contracts.
“The group aspires to be the leading and preferred offshore marine operator for the upstream O&G industry in the region, ” he added.
Perdana plans to modernise its fleet of OSVs to phase out the older vessels as the fleet’s current average age is about 10 years old.
“The fluctuation of charter rates in 2021 could start to take a toll on older vessels that are more expensive to operate. In light of this, a fleet replacement programme for ageing vessels is anticipated to be launched for cost efficiency optimisation although the extent of this project will be subject to market developments and funding considerations.
“The fleet replacement programme is a component of the group’s business sustainability plan to bloster utilisation rates for its main business AHTS and AWB fleet categories. It will be part of the group’s strategy to drive operating cost efficiency in 2021, ” said Tengku Yusof.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Godofgambler
5,307 posts
Posted by Godofgambler > 2021-03-06 11:44 | Report Abuse
They goreng Armada first,
Then Sapura
Then Velesto
Then Alam
Then Perdana
Goring one by one..