Petronas plans to spend 55% of the annual capex allocation on domestic investments, with the remainder on international investments.
RISING global oil prices amidst increasing Covid-19 vaccination rates and anticipated higher world economic growth rates in 2022 are brightening the outlook for Malaysia’s oil and gas sector, say research analysts.
According to the Organisation of the Petroleum Exporting Countries (Opec) in its latest monthly oil market report, world oil demand is projected to hit 100.8 million barrels per day (bpd) in 2022, exceeding pre-pandemic levels.
This is compared against global oil demand in 2021, which is now projected to average 96.7 million b/d.
“As vaccination rates rise, the Covid-19 pandemic is expected to be better managed and economic activities and mobility will firmly return to pre-Covid-19 levels. Steady economic developments are expected to support the partially delayed recovery in oil demand in various sectors,” said the cartel.
Opec pointed out that United States growth is forecast at 6.1% in 2021, supported by unprecedented fiscal and monetary stimulus, followed by projected growth of 4.1% in 2022, with further potential upside that may come from additional fiscal stimulus.
Reminder again! Shares dilution with CRPS taking place. Only benefit the big players. Probably they sell now at higher price to accumulate cash to buy at discount. 0.62 ~ 0.58 is a good range to start buying.
Even with very good result couple with very good oil price still Hibiscus cannot move high. I decided to simpan dalam peti sejuk jer la. I bought it very low in 2020 when oil price crash. Since that time until now price not move much. So as an investor in this company, even now im enjoying profit, i don't feel happy because price not move much. There are no good dividend payout even when company made good profit. Totally disappointed with this counter.
Oil price super bull now due Natural Gas Crisis where the price of Natural gas soaring to a record high and many north hemisphere countries are about to enter winter and cold weather where gas are the main component for heating. The shortage of natural gas prompted price sky rocketing and start to effect oil price because supplier try to find best replacement to gas which is crude oil.
KUALA LUMPUR (Sept 27): Bursa Malaysia’s Energy Index rose as much as 19.78 points or 2.78% to 731.32 this morning, becoming the top percentage gainer among bourse gauges, after oil prices hit three-year highs. At 10.19am, the index, which tracks share prices of oil and gas (O&G) related companies, settled at 727.82, still up 16.28 points or 2.29%. KNM Group Bhd, which was the most actively traded stock, gained as much as 2.5 sen or 10.87% to 25.5 sen. At 10.19am, the counter had pared some gains at 25 sen, still up two sen or 8.7%, with 73.69 million shares traded. Meanwhile, Bumi Armada Bhd increased by one sen or 2.27% to 45 sen; Perdana Petroleum Bhd grew half a sen or 4.35% to 12 sen. Reuters reported that oil pushed past its July peaks as global output disruptions forced energy companies to pull large amounts of crude out of inventories, while a shortage of natural gas in Europe pushed costs up across the continent. At the time of writing, Brent crude oil had added US$1.26 to US$79.35 (about RM332) a barrel, while West Texas Intermediate crude was US$1.21 higher at US$75.19. ""Supply tightness continued to draw on inventories across all regions," ANZ Research said in a note quoted by Reuters. Rising gas prices also helped drive oil higher as the liquid became relatively cheaper for power generation, ANZ analysts said in the note.
A rising crude oil resulted in hibiscus rising 2.3% when hengyuan rose more than 4.7%, as if refinery benefitted more than oil producer in such scenario, what a joke
Boomens90, u must know last time got big tok guru pushing this stk. Tok guru team come out with a calculation of how many barrels and what the cost of the barrel and extrapolate to find the future earning.....at that time, he says only.....all his platinum, diamond, gold all rush in to buy. Now??....aiya, u should the story ma.....
when brent first crossed 70 earlier this year, hibiscus rose to 0.74 (or slightly more?), but with this round, hibiscus barely hold on to 0.70 even when brent already close to 80. So, I would have little faith hibiscus rising above 0.90, even when a higher hibiscus share price makes me happier.
85% orang dreads sudah divaksinasi…rentas Negeri, pelancongan dan semua ekonomi dibenarkan termssuk Kapal terbang…jangka Bunga Rayaku akan melonjak ke rm1 terdekat ini..
this counter very lazy one, too slow, other counters going to moon coming back and going again and coming back dive in the ocean, this counter still warming up engine..
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New IPO: A manufacturing and trading of biomass fuel products, particularly PKS and wood pellets company, Elridge Energy Holdings Bhd aims to list on the Ace 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....
kenneth241
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Posted by kenneth241 > 2021-09-24 09:42 | Report Abuse
chip in now