Posted by Goldberg > 2021-10-12 14:24 | Report Abuse

Apologies Nick- misread the article.

Upstream reported that Petronas has suspended the bidding exercise for a floating production, storage and offloading (FPSO) vessel for the deep-water Limbayong field off Sabah, unsettling the contracting sector. The report indicated that a disagreement is having a direct impact on the FPSO contest with the Sabah state government pushing for greater participation and local content in projects in its own waters.

Delay, rebid or alternative tie-in solutions. This could mean a delay to allow Petronas to address procedural issues or a completely new tender invitation to be issued soon given that Petronas has already awarded a subsea equipment contract to TechnipFMC in June this year. An alternative solution could be the nearby Bestari oil discovery, which was earmarked as a tie-in field to Limbayong, hosting the FPSO instead of Limbayong. The final investment decision for Bestari is due soon, and Upstream’s sources suggested that developing Bestari first could deliver a better economic outcome.

Open only to Malaysian bidders. The tender was open only to Malaysian contractors or Malaysian-led joint ventures. Recall that the Malaysian bidding groups were Yinson Holdings, MISC, Sabah International Petroleum (SIP) and a joint venture between Bumi Armada, MTC and India's Shapoorji Pallonji. Upstream indicated that Sabah International was in a favourable position to land the FPSO contract even though the other contenders were still in the race.

The Limbayong FPSO, under the original tender specifications, required a nameplate storage capacity of 600,000 barrels of oil and production capacity of 60,000 barrels per day (bpd) of liquids, including 40,000 bpd of oil and 180mil cubic feet per day of associated gas together with water injection facilities of up to 75,000 bpd.

Posted by darkxfs > 2021-10-12 15:58 | Report Abuse

Thriven 7889 low price, 0.160 now got volume, shareholder teladan & mulpha

Posted by strattegist > 2021-10-12 17:23 | Report Abuse

closed green

Posted by alenac > 2021-10-12 18:52 | Report Abuse

Crude oil price is good now, next will be when the owner going to ram up the price, hopefully, the coming quarter will show a good profit figure.

Posted by Bon888 > 2021-10-12 18:55 | Report Abuse

Based on 2020 annual report Uncle Fong Siling (Goldeye 冷眼) still holding 65,000,000 shares in Bumi Armada. His bet on this counter worth MYR 34.8 mil now. Maybe this just one of his small investment but this amount is many people`s dream.

Posted by Mabel > 2021-10-12 19:56 | Report Abuse

Nice and lovely..

Slowly and surely..

Meow Meow Meow

Posted by armadatuah2017 > 2021-10-12 20:51 | Report Abuse

uncle fong long time hold the stock already...average is above rm1

Posted by armadatuah2017 > 2021-10-12 20:52 | Report Abuse

he doesnt look at short term..

Posted by freddiehero > 2021-10-12 20:57 | Report Abuse

steady.. kasih shooting star lagi..

Posted by colin888 > 2021-10-12 22:24 | Report Abuse

OMG! How can we compare genetec with Armada. Genetec is only 51.5 m versus 5.9 billion shares for Armada. Genetec is cornered at every angle and syndicates can set whatever price they want.

Posted by colin888 > 2021-10-12 22:25 | Report Abuse

The sky is not even the limit for Genetec

Posted by serpent100 > 2021-10-13 09:22 | Report Abuse

Today no show..... Positive positive

Posted by strattegist > 2021-10-13 09:26 | Report Abuse

red

Posted by Macgyver11 > 2021-10-13 09:44 | Report Abuse

2nd half most probably will spike up again..

Posted by Mabel > 2021-10-13 09:48 | Report Abuse

#pang72 Armada can fly but not up to rm42 la...

Let's aim rm1. 00 enough liao...
12/10/2021 10:57 PM

This year Armada's investors will be laughing to the bank just like to Top Gloves investors last year..

Meow Meow Meow

Posted by Bon888 > 2021-10-13 11:19 | Report Abuse

If Armada reached 0.99 I already laughing all the way to bank. My sky has a limit. Maybe put all the money in bank stocks and collect dividends.

Posted by strattegist > 2021-10-13 13:22 | Report Abuse

merah

Posted by gogogolee > 2021-10-13 14:55 | Report Abuse

y no move today??

Posted by Robert Waters > 2021-10-13 16:33 | Report Abuse

Can't be too happy about today, but correction is needed.
Good news is it held relatively steady. Did not crash below 50 like last time. That is reason to be positive.

Good luck old longs.

Posted by JoshuaMS7 > 2021-10-13 16:37 | Report Abuse

waiting at 0.500

Posted by strattegist > 2021-10-13 17:37 | Report Abuse

closed red

Posted by PKRPACA > 2021-10-14 00:24 | Report Abuse

upla..bukan kangkung ni

Posted by Colin01 > 2021-10-14 00:28 | Report Abuse

https://oilprice.com/Energy/Oil-Prices/Putin-100-Oil-Is-Quite-Possible.html
Putin: $100 Oil Is “Quite Possible”

Posted by Bon888 > 2021-10-14 12:16 | Report Abuse

Standing strong above 0.50.

Posted by SHOB > 2021-10-14 12:40 | Report Abuse

drop more,so can collect ....

Posted by Colin01 > 2021-10-14 13:51 | Report Abuse

No more drop, the next train will leave the station soon. oil price back to $83.80

Posted by Bon888 > 2021-10-14 14:46 | Report Abuse

Ladies and Gentlemen. This is Captain.

I have pleasure in informing you that all safety equipment is in full working order. The bow/stern doors are closed and secure. The ship is in all respects ready for sea.

Posted by air01557 > 2021-10-14 15:27 | Report Abuse

Should break 0.54 soon. Next resistance at 0.57

Posted by air01557 > 2021-10-14 15:59 | Report Abuse

Yes Brent at USD84
Now Armada will head to 0.57

Posted by Macgyver11 > 2021-10-14 16:10 | Report Abuse

0il should break usd 85 first and to secure strong position.

Posted by Macgyver11 > 2021-10-14 16:13 | Report Abuse

Santai dulu...

Posted by air01557 > 2021-10-14 16:15 | Report Abuse

wow oil shooting

Posted by Colin01 > 2021-10-14 16:28 | Report Abuse

New resistance form at 0.53 once break see you in the next station 0.80

Posted by serpent100 > 2021-10-14 21:13 | Report Abuse

Yinson, Coastal, hibiscus all already fly..... Armada armada armada.... Bring me fly pls

Posted by Goldberg > 2021-10-14 21:49 | Report Abuse

Energy crisis boosts oil demand: IEA

Power outages, soaring coal and gas prices prompt turn to oil

Published on 14 Oct 2021


The IEA, which advises governments on energy policy, said it now expects global oil demand for this year and 2022 to be higher than in its previous forecast.

“Oil prices are scaling multi-year highs as a shortage of natural gas, LNG (liquefied natural gas) and coal boosts demand for oil, which could keep the market in deficit through at least the end of the year,” the Paris-based agency said.

“Record coal and gas prices as well as rolling black-outs are prompting the power sector and energy-intensive industries to turn to oil to keep the lights on and operations humming,” it said in its monthly review of the oil market.

Gas prices are soaring as the winter approaches in the northern hemisphere, adding to inflationary pressure and raising concerns that it could harm economies recovering from the Covid pandemic.

Oil prices have also increased to multi-year peaks in recent days.

The IEA said global oil demand is now forecast to rise to 96.3 million barrels per day this year, up by 5.5 million from its previous report. It will increase by 3.3 million bpd next year.

World oil supply, meanwhile, is expected to rise sharply in October as US output recovers from the fallout of Hurricane Ida, which severely disrupted operations in the Gulf Coast in late August.

Supply is also getting a boost as OPEC and its Russian-led allies continue to unwind production cuts, the IEA said. – AFP, October 14, 2021

Posted by HuatlaiOnglai > 2021-10-15 08:11 | Report Abuse

With oil price continues with an upward trend, the OL for this sector continues to show greater strengths. This will propel BA price to chart a new high going into Q1 next year. Look set to have a higher TP announced by the research house in Nov. Would be nice to break RM0.9/sen by Dec

Posted by air01557 > 2021-10-15 09:12 | Report Abuse

About to break 0.54 and head to 0.57

Posted by serpent100 > 2021-10-15 09:14 | Report Abuse

Target from my cimb's reminser is 0.58/0.60

Posted by Invest123 > 2021-10-15 09:25 | Report Abuse

very soon

Posted by Mabel > 2021-10-15 10:08 | Report Abuse

Kambing cumming...

Meow Meow Meow

Posted by strattegist > 2021-10-15 11:09 |

Post removed.Why?

Posted by air01557 > 2021-10-15 11:44 | Report Abuse

strattegist i understand green / red but what does meowww mean?

Posted by Goldberg > 2021-10-15 14:43 | Report Abuse

HLIB maintains a “Buy” rating on Bumi Armada with a target price of RM0.80
--------------------------------------------------------------------------------------

HLIB Research expects Bumi Armada’s consistently strong earnings to continue in the foreseeable future as 1H21 net operating cashflow has improved by 187% YoY.

“Its current net debt has declined to RM6.9 billion (from RM8.8 billion in 2Q20) and net gearing has also fallen to 1.9 times in 2Q21 (from 2.8 times in 2Q20), the first time it has been below two times since 2Q18 and is expected to fall further in subsequent quarters,” Low wrote.

Higher oil prices of late could ease the group’s asset monetisation process for its offshore marine services business to repay its debt.

The group disposed two vessels in the quarter and is expected to dispose six more vessels in 2H21.

“Hence, we do not foresee Armada having any trouble meeting any of its current debt obligations. Armada’s 98/2 joint venture (JV) with India’s Shapoorji Pallonji Oil & Gas Pte Ltd is also expected to commence operations in FY22 despite impending delays due to Covid-19, which could boost its profits in the near future,” noted Low.

The investment bank upgraded Bumi Armada’s earnings by 29%, 11% and 11% for financial year 2021 (FY21), FY22 and FY23 respectively to factor in the better than expected performance for Bumi Armada’s FPSO segment and further streamlining of its operations from the sale of its offshore support vessel fleet.

“We maintain our “Buy” rating on the stock with an unchanged target price of 80 sen as we roll forward our valuations to FY22, based on eight times FY22 earnings per share and top pick the group for the oil and gas sector,” Low added.

Posted by air01557 > 2021-10-15 15:44 | Report Abuse

yes ...... doing 0.54

Posted by Macgyver11 > 2021-10-15 16:13 | Report Abuse

Walaoeh! Brent touched usd 85

Posted by fudrud > 2021-10-15 16:30 | Report Abuse

air01557, this is our dear friend Mabel. She likes Whiskas and the Armada share price.

Posted by Mabel > 2021-10-15 17:12 | Report Abuse

Meow Meow Meow fudrud...

https://www.youtube.com/watch?v=GzGtEPdmR3g

Brent will break USD 100 pretty soon...

All Captain Mabel Fossil Fuel Battleships and Supertankers are already cruising at Full Speed. They are all name after the ships in the Pirates of the Caribbean. These Armada Fleet of Battleships will be Air Supported by AirAsia and Singapore Airlines Jet Fighters.

Salute!

Captain Mabel Sparrow

Posted by Bgt 9963 > 2021-10-16 09:15 | Report Abuse

Keep rising....!

Posted by Indianajones > 2021-10-16 12:18 | Report Abuse

HLIB TP is old story since August 21. Is there something the market is reading , we are not seeing. Yinson, Hibisc and the like have skyrocketed. Only this old engine still cannot show real strength.
Any one can explain the underlying issue for it not to move yet?

Posted by serpent100 > 2021-10-16 12:23 | Report Abuse

If all follow ur plan....nobody need to work....