Since the beginning of the year, the Bursa Malaysia Energy Index (KLENG Index), which tracks O&G counters, has not moved in tandem with the rise in crude oil prices.
The index only gained 5.85% year-to-date (YTD) despite Brent having rallied from US$78 per barrel which was reported on Jan 3.
According to data from Bloomberg, out of 25 constituents in the benchmark index, 13 counters have gained YTD (as of Monday), 11 counters were down and only one counter was unchanged.
Only Hibiscus Petroleum Bhd, Deleum Bhd, Alam Maritim Resources Bhd, Coastal Contracts Bhd and Petra Energy Bhd have put on double-digit gains in their share prices since January.
Other O&G players such as Handal Energy Bhd, Sapura Energy Bhd and Yinson Holdings Bhd were the top index losers, having declined by 22.5%, 20% and 18.67% respectively since the beginning of the year.
well well. nak melabur jangan malas. not all companies are created equal. Look at the risks- financial risk esp for capital intensive stocks. dont sound lazy / dumb by painting every stocks within a sector with broad brush. This is not kindergarten. or a gossip tabloid. The least you could do is go on the P&L, BS and CF statements. Look before you jump. Which counters are quality investments, which are ciggy butts.
WASHINGTON ? President Joe Biden announced Tuesday that the U.S. will target "the main artery of Russia's economy" by banning the import of Russian energy products. "We're banning all imports of Russian oil and gas and energy," Biden said in remarks from the White House. "That means Russian oil will no longer be acceptable at U.S. ports and the American people will deal another powerful blow to Putin's war machine."
The president warned that the move would probably increase gas prices in the U.S., but that it was necessary to ramp up sanctions pressure on Russia's economy for its war on Ukraine.� ?Putin's war is already hurting American families at the gas pump," Biden said. "I?m going to do everything I can to minimize Putin's price hike here at home.? Biden's language clearly anticipated a concerted Republican effort to blame him directly for the rise in gas prices, which hit a record in the U.S. on Tuesday. With gas prices certain to become a huge political issue in this year's midterm elections, Biden devoted much of his remarks to focusing American anger directly on Putin, while also encouraging U.S. energy companies to produce more domestic oil. The president said the U.S. had made the decision to ban Russian energy products "in close consultation" with allies around the world, particularly in Europe. He said many of those partners may not be able to take the same action. "The United States produces far more oil domestically than all of Europe," said Biden, who said the U.S. is a net exporter of energy. "We can take this step when others cannot, but we're working closely with Europe and our partners to develop a long-term strategy to reduce their dependence on Russian energy as well."
BENGALURU, March 8 (Reuters) - Oil prices settled around 4% higher on Tuesday as the United States banned Russian oil imports and Britain said it will phase them out by year end, decisions expected to further disrupt the global energy market where Russia is the second-largest exporter of crude. Oil prices have surged more than 30% since Russia invaded Ukraine, and the United States and other countries imposed a raft of sanctions. Russian oil and gas exports were already being shunned before the ban as traders sought to avoid running afoul of future sanctions. U.S. President Joe Biden announced a ban on Russian oil and other energy imports. Britain said it will phase out the import of Russian oil and oil products by the end of 2022, giving the market and businesses time to find alternatives.
Brent crude futures settled at $127.98 a barrel, 3.9% higher, while U.S. crude futures settled at $123.70 a barrel, a 3.6% increase.
Russia ships 7 million to 8 million barrels per day of crude and fuel to global markets. European allies are not expected to join the United States in the ban, but major buyers there are already shunning Russian oil. Shell, the one notable major that did buy Russian crude, faced a torrent of criticism, including from Ukraine's foreign minister. On Tuesday, Shell said it would no longer buy Russian oil. The disruption could ripple through other energy markets, as Russian oil and products are used for refining into other goods...
Hibiscus oil wil b manyak laku in UK .. coz they ban buy frm russia n US oso Ban.. wan buy oso need waiting list . but bad news is critical components sparepart not yet complete repair .. Effect the output
UK says will phase out Russia energy supplies AT THE END OF THE YEAR......sounds like they cannot live without Russia.........only half hearted attempts......
Or are the British starting to dig more holes for Oil, hoping to find more before end of year......hehehe
USA loves War....war in Asia, in Middle East, in Europe....they sell weapons.....
Now by banning Russian energy supplies when existing Contracts expires, mostly in 45 days, US as Net exporter of Oil and with high Oil prices and acute supplies.......US wins again.
Walaweh. Putin just banned export of ALL raw materials from Russia to be effective until Dec 31 walaweh. this is full blown war! Rocket goes to the MOOOOOOOOOOOON HODL
Stayhomemum, let's just say Hibby is comfortable at this level 1.33 and the buyers are not rushing in....YET. There's no selling pressure or downwards price into red.
Water finds it own levels and situation is very fluid............Be Water.
if you look at the volume today only 100,000....it going either way this evening...minimum volume shall be around 400,000 to 800,000 per day. IB still have a lot bullet for this evening. likely will shoot up if oil stay > USD130
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Gaussian
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Posted by Gaussian > 2022-03-08 08:16 | Report Abuse
Yesterday IDSS lost. Hope they IDSS more today so that I can buy cheaper