The UAE has received an invitation to participate as an honorary guest in the G20 Energy Ministers Meeting, which will be held remotely on Friday, April 10, the Ministry of Energy and Industry said.
NEW YORK (Reuters) - Oil futures were little changed on Sunday even after major oil producers reached a deal for a record 10 million bpd output cut, with analysts saying the agreement is insufficient to head off oversupply as the coronavirus hammers demand.
Total global oil supply cuts could come to 20 million barrels per day, around 20% of global supply, Kuwait's oil minister said. After four days of wrangling, OPEC, Russia and other oil-producing nations, a group known as OPEC+, agreed on Sunday to cut output by a record amount of 9.7 million barrels per day, representing around 10% of global supply to support oil prices amid the pandemic, sources said.
to soon to see it materialized,giving the wold current economy scenario and o&g industry bleak outlook. is there any connection or link between barakah and serba at present?
If the OnG market is high, SerbaD may not want to let go their project because their OnG project is still cashing lots. Now is a good time for Barakah to nego for project and SerbaD needs capital for its 7.7bil new contract plus other resources too. It may make sense and work well to both parties. The question is to buy or not to buy kikiki ...
#1 flyover2 any TP for this counter, sifu? 17/04/2020 10:14 AM
#2 Paliwar any good news ka? 17/04/2020 12:21 PM
#3 Happy3933 Meow meow meow, Mini please come to Papa 17/04/2020 6:40 PM
Normally chart does not work very well with battered stock like Barakah. Stock price is 80% about perception. Only 20% or even less about other things including fundamentals
The good news is Bursa has suspended all PN17 and GN3 Classification. They now gave time to these companies to regulate due to Convid 19. So this Convid 19 is another blessing to all shareholders.
Scenario 1 - I recon once the PN17 was lifted it will easily climb to 8 sen
Scenario 2 - I more incline to this scenario. prefer this scenario If the OnG market is high, Serba Dinamik may not want to let go their project because their OnG project is still cashing lots of projects. Now is a good time for Barakah CEO to negotiate for project and Serba needs capital for its 7.7bil new contract plus resources too. It may make sense and work well to both parties. Yes, it can even go up to 20 sen per share.
What I do know is that I keep on collecting Barakah at dirt cheap price when people were selling to average down my holding cost. If you are resourceful, you can still do swing trade. Collect 1 sen and sell at 2 sen. Handsome profits. Those that has collected at this would have made 250% Profits.
Today volumes is 255X the Minimum Threshold. This is really very encouraging.
Well done to all the Jedi here who continues to believe in this Battleship Future!
From now on, set your auto cruise to 20...
Turn off the lights, take a deep breath....Relax...
May is the day oil is going up and non stop up.. I gonna warn you... Countries wont lay all this aeroplanes forever... People cant swim across the ocean.. Still need aeroplane... Peole cant walk 30Km to work.. Cars still needed to drive to work.. Petroleum is essiantial... Sooner or later petro will rocket... When economy opening up there will be big big shortage of oil... I warn you.. Make sure your cars full of petrol in coming 2 months... You might see petrol shortage when economies opening up...
Barakah is a O&G contractor it has no relevance to the oil price directly. Indirectly it will be affected by the capex of the upstream players whether to award jobs or cancel or delay.
(Reuters) - Energy traders fled from the expiring May US oil futures contract in a frenzy on Monday, sending the contract into negative territory for the first time in history, as barely any buyers are willing to take delivery of oil barrels because there is no place to put the crude.
May US crude futures careened into negative territory about 20 minutes before the end of trading, falling to minus US$8 a barrel, down 146%.
With demand down 30% worldwide due to the coronavirus pandemic, and the main US storage hub in Cushing, Oklahoma expected to fill up in a matter of weeks, very few want to be stuck with oil barrels that they have to take delivery on at some point during May.
"The people who are long are desperate to get out," said Phil Verleger, a veteran oil economist and independent consultant.
Oil price movement is short term. We have seen how Serba secured new project worth Billions only few days ago. Oil price has little impact to Serba, Dayang or Batrakah project. If anything, it will impact on the upstream Battleship like part of Sapnrg, Hibiscus and Reach, Velesto more as they are reliance heavily on oil price.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3141 views | 3 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
Mabel
23,657 posts
Posted by Mabel > 2020-04-07 00:02 | Report Abuse
Moscow is ready for cooperation and interested in interaction with countries in order to stabilise the energy markets
Meow..