It is undestood that national oil company Petroliam Nasional Bhd (Petronas), which has committed to spending RM50 billion on the refinery and petrochemical integrated development (Rapid) project in Johor, has asked its various units to revise their budget for 2015.
Petronas, which contributes to almost 40% of the national coffers, had urged the government to “tighten its belt” as the national oil firm was facing the possibility of lower earnings from falling crude oil prices.
Petronas group chief executive officer Tan Sri Shamsul Azhar Abbas said last November that the price range of Brent crude oil at US$70 to US$75 may be a “new era”, until the end of 2015, if not for the next two years.
Based on new oil price assumptions, Shamsul said Petronas was looking to cut as much as 15% to 20% of its capital expenditure (capex) budget for next year.
More than 7% drop in 2 days is not slow..anyway its reaching bottom soon unless u r giving tp usd20 like all those rediculous lowest tp u posted before in knm n perisai forum
Most oil n gas started to immune to oil price drop. If follow theory oil drop share drop I think all will become 5sen share if oil price fall to 20USD. Miht as well suspend trading
This Maybank clown is again on the prowl with even thicker reports but nothing in it is on-time and we didnt know ! YES, it is me again TELUSTERANG attacking this senseless and brainless analyst.
KNM and other oil and gas stocks had been battered down so badly because of the oil price and now only they issued a report to lower down the target price. Am I suppose to sell now with your comment that 2015 will be weaker than 2014 or wait for your target price of RM1 (as mentioned in page 6 of the report under the fabrication and pipe coating section). Which direction are you asking me to bet now ?? BUY - when 2015 will be weaker than 2014 ? or SELL - when you have a target price of RM1 ?
Can this clown make sense please ... ???
Am not a fan of KNM, but this clown really irking me most ...
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....
nabimuhammad
7 posts
Posted by nabimuhammad > 2014-12-26 09:43 |
Post removed.Why?