Massive U.S. Protests Raise Fears of New Virus Outbreaks THE ASSOCIATED PRESS (KELLI KENNEDY, DANICA KIRKA and PABLO GORONDI) 31 May 2020, 13:57 GMT+8 Updated on 1 June 2020, 04:33 GMT+8
"Between low demand, soaring inventories, depressed prices, a global pandemic, and now, hurricane season, it seems a perfect storm is forming around the offshore oil industry. The world's offshore oil market, responsible for 30 percent of all the world's oil production"
Can try hengyuan 4324 .Hengyuan now is better than other o n g company ,because that only focus on the refining . The profit depends on crack spread, when the crude oil price decrease ,the cost will decrease and increase the crack spread profit but demand will decrease and the sale of volume also decrease. When the crude oil price increase, crack spread will be narrow but the demand will increase, demand increase and the sales of volume will increase , so overall increase the profit. History will come back from Rm2 to RM19. Super undervalue. Can limit up due to only 300 millions share.
Armada can go far without Syed Saddiq PUTRAJAYA (June 2): Armada can go far even without the founder of the Parti Pribumi Bersatu Malaysia (Bersatu)’s youth wing, Syed Saddiq Syed Abdul Rahman, said Deputy Youth and Sports Minister Wan Ahmad Fayshal Wan Ahmad Kamal. However, Wan Ahmad Fayhsal, who is among the contenders for the post of Armada head in the coming party elections, said there was no denying Syed Saddiq’s contributions which included founding Armada, but added that the party’s struggles were bigger. Wan Ahmad Fayhsal, who is also Titiwangsa Bersatu information chief, said Syed Saddiq’s membership and that of four other individuals were automatically nullified when they contravened Clauses 10.2.2 and 10.2.3 of the party constitution and not because they were sacked. Clause 10.2.2 of the party constitution states that the party membership terminates when a member declares he is leaving the party, while Clause 10.2.3 states that the membership is terminated when the member participates or becomes a member of another party. He said among the actions which contravene the party constitution was sitting in the opposition bloc in Parliament recently and several incidents before that which reflect that they were not in agreement with the direction and policies set by the Supreme Council to be with Perikatan Nasional (PN) as the legitimate government of the day. “No matter how big the personality is or how much they have contributed to the party, the policies and philosophy of the party are bigger and the yardstick for the party’s future,” he said in a press conference here today. Wan Ahmad Fayhsal, who was Syed Saddiq’s former special officer, said he was sad over Syed Saddiq’s choice not to stand with the party’s direction and considered it a big loss because of the talents of the young leader.
I don’t think because of oil price that moves BA. im sure the investors now start to carefully read and understand the QR...BA is on 6 Qrs consecutive operational profits.... those non cash impairment had no actual impact on BA. and we should feel glad when AMINVEST plays down BA. It aleays moved in opposite direction
The next OPEC+ meeting, initially scheduled for June 9-10, could take place earlier than expected according to a Reuters report that cites a letter from the OPEC president of Algeria to the members of the wider producer group.
In the letter, Algeria proposes that the meeting be held this week, on Thursday, so that Saudi Arabia, Kuwait, and Iraq can make their export nominations after the producers’ club decides on the future of production cuts.
Nominations is what Saudi Arabia, Iraq, and Kuwait call their export allocations to long-term clients, which are based on oil demand, Reuters explains, adding they normally take place on the tenth of every month.
A further report citing unnamed sources said Russia did not mind moving the meeting to this week and suggested this might mean Moscow would also agree to extending the current production cuts of 9.7 million bpd beyond the end-June expiry. Of course, nothing is certain and will not be certain until the meeting starts as some Russian oil companies, notably Rosneft, are finding it hard to maintain the current production cuts. Related: Oil Prices Stabilize On Rumors Of An OPEC+ Extension
There is talk, however, that the cuts may be extended by another month or two. An unnamed source told Energy Intelligence that "OPEC-plus could meet on Jun. 4 to decide on a market management policy that might extend the current production cut pact by up to two months."’
According to the original agreement reached earlier this year, OPEC+ was to cut 9.7 million bpd in combined production for two months—May and June—and then ease this to 7.7 million bpd, to stay in effect until the end of the year. Then, from January 2021, the production cuts would be further eased to 5.8 million bpd, to remain in effect until end-April 2022.
Meanwhile, however, OPEC is again falling short of its compliance quotas, with compliance rates for May—the first month of cuts—at just 74 percent. The actual cuts in may were only 5.91 million bpd down from April, with Nigeria and Iraq lagging behind others.
China approves $20 billion mega petrochem project. In an effort at infrastructure stimulus, China is reviving a $20 billion petrochemical project in Shandong province. “The 400,000 barrel-per-day (bpd) refinery and 3 million tonne-per-year ethylene plant in Yantai, Shandong, the country’s hub for independent oil refineries, was proposed years ago but approval has been slowing in coming because of China’s struggle with excess refining capacity,” Reuters reported.
good morning guys.big players now might switch to o& g & health stocks as many of them kena margin as banks tighten margin finance .hold yr armada shares tight !
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....
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Massive U.S. Protests Raise Fears of New Virus Outbreaks
THE ASSOCIATED PRESS (KELLI KENNEDY, DANICA KIRKA and PABLO GORONDI)
31 May 2020, 13:57 GMT+8
Updated on 1 June 2020, 04:33 GMT+8