Posted by Macgyver11 > 2022-12-09 23:56 | Report Abuse

Russia second largest oil exporter after Saudi and also one of Opec+ member.

Posted by Macgyver11 > 2022-12-11 14:10 | Report Abuse

https://www.malaymail.com/news/malaysia/2022/12/11/clear-skies-for-aviation-sector-as-malaysia-other-countries-reopened-borders-this-year/44660

Posted by StartOfTheBull > 2022-12-12 11:21 | Report Abuse

How could they bring down the oil price simply by setting a price cap? Think again.

Posted by SinGor > 2022-12-13 09:20 | Report Abuse

Christmas rally is gaining strength

Posted by SinGor > 2022-12-13 16:19 | Report Abuse

I want a Mercedes 600 for Christmas. Santa makes sure you land on my house driveway, my chimney cannot
fit a Mercedes

Posted by StartOfTheBull > 2022-12-13 16:35 | Report Abuse

Setting oil price cap and with expected China reopening soon would lead to supply shortage instead.

Posted by hoot9e996 > 2022-12-13 16:47 | Report Abuse

funny 1 oil price low < 30 USD where was the price cap
cheap oil = free market, let it go with demand and supply
oil expensive, fear of own citizen rioting / protesting only start taking action.

when oil producing countries were having losses, all blame the company for bad management.
now making too much money also cannot

Posted by Macgyver11 > 2022-12-14 03:02 | Report Abuse

Wow! Brent usd 81 now. 0.20c mari

Posted by Macgyver11 > 2022-12-14 05:14 | Report Abuse

OPEC’s crude oil production fell by an average of 744,000 barrels per day, according to OPEC’s Monthly Oil Market Report released on Tuesday.

Saudi Arabia’s November production fell by the most among its members, by 404,000 bpd, to 10.474 million bpd—Saudi Arabia’s lowest monthly average since May 2022.

Other significant production decreases were realized by the United Arab Emirates, which saw a decrease of 149,000 bpd in November, landing at 3.037 million bpd; Kuwait, which saw a dip of 121,000 bpd to 2.685 million bpd; and Iraq with a loss of 117,000 bpd to 4.465 million bpd.

Overall, OPEC’s average production for November fell to 28.826 million bpd—the lowest average production level since June.

Demand getting higher for crude oil as the world reserve depleted. Once China fully open the border, black fossil becomes black gold. Stick to ripe the benefits.

Posted by CHLEONG888 > 2022-12-14 06:27 | Report Abuse

Perhaps marching towards 0.175 today

Posted by Shines > 2022-12-14 17:39 | Report Abuse

Does anyone here agrees that the SC should revert to minium 1 lot of 1000 shares per trade?

Posted by EAGLE > 2022-12-14 18:46 | Report Abuse

Susah mau naik. Serupa kasino ini bursa.

Posted by Macgyver11 > 2022-12-15 12:28 | Report Abuse

Biar lambat asalkan selamat...hari2 naik skt2 lama2 jadi bukit. Setiap hari naik 1c pun ckp ler..blh break 20c..haha!

Posted by Macgyver11 > 2022-12-15 17:41 | Report Abuse

https://www.theedgemarkets.com/article/recession-fears-2023-are-overdone-says-rhb-ib-research

Posted by Macgyver11 > 2022-12-16 07:47 | Report Abuse

Supply shortages and insufficient investment in new supply will result in a bumper year for commodities in 2023, Goldman Sachs says, expecting the S&P GSCI commodity index to post a 43% return next year.

Commodities are set to be the best-performing asset class in 2023, the bank’s strategists said in a note.

“From a fundamental perspective, the setup for most commodities next year is more bullish than it has been at any point since we first highlighted the super-cycle in October 2020,” Jeffrey Currie, global head of commodities research at Goldman Sachs, wrote, as carried by The Australian Financial Review.


The first quarter of 2023 could be more underwhelming than the rest of the year due to the expected slowdown in economies, but the low levels of investment in oil, gas, and key metals will continue to underpin what Goldman has called a new supercycle in commodities.

The drop in Brent Crude to the low $80s is likely temporary, according to the Wall Street bank, which says that oil market participants could be too pessimistic about China’s demand.

Key metals necessary for the energy transition are also set for a bull run amid expected shortages in the coming years, Goldman and industry giants say.


Earlier this month, mining and commodities giant Glencore said that a huge shortage of copper is looming while significant mine development is lagging.

According to Glencore’s estimates, under the net-zero emissions pathway of the International Energy Agency (IEA), the world will be more than 50 million tons short of copper between 2022 and 2030.

Moreover, Goldman Sachs also said in early December that copper prices were set for a new record-high next year amid an “extremely” tight market. Next year, Goldman expects copper prices to top the current record-high of $10,845 per ton that it hit in March 2022. It raised its 12-month price target to $11,000 a ton from $9,000 per ton.

By Tsvetana Paraskova for Oilprice.com

Posted by Shines > 2022-12-16 18:27 | Report Abuse

Why dropping ah?

Posted by Macgyver11 > 2022-12-19 11:31 | Report Abuse

Need PNB/Amanah support to lift up the price further. Let see

Posted by Macgyver11 > 2022-12-19 13:55 | Report Abuse

THE ERA OF CHEAP OIL HAS COME TO AN END.....

In its latest monthly report, OPEC revealed it had yet again failed to produce as much oil as it agreed to produce the last time it discussed output. And it wasn’t by a few thousand barrels per day, either. The shortfall was some 1.8 million barrels daily, but more importantly, that sort of undershooting of its own target has become a regular thing for the cartel.

Meanwhile, the United States federal government needs to buy some oil for its strategic petroleum reserve after releasing close to 200 million barrels from it this year as a way of countering fuel price inflation. Yet U.S. drillers are not in a rush to boost production. On the contrary, it seems production growth has lost its place among these companies’ top priorities.

Of course, there are also the sanctions against Russia, which many expect will hurt the country’s oil production, and that may well happen, but it has not happened yet. In fact, the oil sanctions—in the form of a price cap on maritime exports and an embargo on exports to the EU—have had no effect on oil flows out of Russia. For now.

Investment banks expect higher oil prices, despite a recent slump prompted by expectations of an economic slowdown pretty much across the globe. The expectations, now beginning to seep into trader circles, too, are largely based on China’s reversal of its zero-Covid policy. But they also probably take into account the fact that oil remains an indispensable commodity. And the era of cheap oil may well be over for good.

Posted by gbt_9428 > 2022-12-21 19:43 | Report Abuse

https://www.thestar.com.my/business/business-news/2022/12/21/upbeat-outlook-on-og-sector
sell on news
Taking profit
MACD dead cross, Price go down soon
bye bye Velesto and Umza

Posted by Macgyver11 > 2022-12-22 17:22 | Report Abuse

gbt9428
Too soon, after you will regret...

Posted by Lewis Lee > 2022-12-24 21:15 | Report Abuse

No Change to Earnings Forecast

Following this contract announcement, we estimate that Velesto has secured utilisation rate of at least 33% for FY23F. While this is still below our assumption of 75%, we believe it remainsintact. We expect Velesto to gain more market share in the near future as its sole local competitor is considering to sell its rig to foreign operator. To recap, its tenderbook currently stands at RM2.4bn which made up of 8 long term contracts (i.e., more than 12 months) and 20 short term contracts (less than 12 months).

Maintain BUY with Unchanged TP RM0.28

The stock price has recovered swiftly from its all-time low of RM0.075 following news of tighter rig market. However, we think there is still much upside even at current price level stemming from (i) recovery in utilisation rate and (ii) higher daily charter rate. As such, we maintain Velesto as a BUY with unchanged TP of RM0.28 pegged at 1x P/B to FY22F.

Source: BIMB Securities Research - 8 Nov 2022

Posted by StartOfTheBull > 2022-12-24 21:31 | Report Abuse

Strong support at 15c.

Posted by Macgyver11 > 2022-12-25 01:35 | Report Abuse

Bankers or IB are paid to publish so don't influenced too much on it....all politic.

Posted by Macgyver11 > 2022-12-27 10:36 | Report Abuse

China Stocks Climb on Covid Shift
The Shanghai Composite rose 0.4% to around 3,078 while the Shenzhen Component gained 0.5% to 11,035 on Tuesday, rising for the second straight session after China announced that it will end quarantine requirements for inbound travelers starting on Jan. 8, sparking hopes for a faster economic recovery. Investors also digested data showing industrial profits in China fell 3.6% year-on-year in the January-November period, reflecting economic disruptions brought by Covid restrictions. Property, industrial and commodity-linked stocks led the charge, with strong gains from Gree Real Estate (2.3%), SHN Zhenye (8.6%), China State Construction (1.7%), Zhejiang Construct (4.5%) and Shandong Chiway (5.6%). Other heavyweight firms also advanced, including Sungrow Power (3.8%), Xi'an Catering (4.9%), People.cn (1.6%), Shenzhen Infinova (6.8%) and Shaanxi Jinye (9.9%).

Posted by kingJ > 2022-12-27 11:24 | Report Abuse

https://oilprice.com/Energy/Energy-General/The-Offshore-Drilling-Market-Is-Booming-Again.html

Posted by kingJ > 2022-12-27 11:25 | Report Abuse

Hopefully durian runtuh coming

Posted by kingJ > 2022-12-27 11:35 | Report Abuse

https://www.upstreamonline.com/exploration/pttep-makes-sweet-gas-discovery-offshore-malaysia/2-1-1379110

Posted by Macgyver11 > 2022-12-27 20:59 | Report Abuse

Affin Hwang give TP 20 today.

Posted by StartOfTheBull > 2022-12-27 21:16 | Report Abuse

The company is actively bidding for new contracts, right? Expecting good news in coming months to give it a push.

Posted by Macgyver11 > 2022-12-28 09:28 | Report Abuse

Putin bans oil supply to countries that comply with G7..

Having promised that it would reveal its response to the recently implemented by the G7 price cap on Russian oil exports, moments ago the Kremlin did not disappoint, and as the WSJ reports, Russian President Vladimir Putin banned the supply of Russian oil and oil products to countries that impose a price cap, allowing deliveries to those nations only on the basis of a special permission from the Kremlin leader.

More shortage in oil & gas supply. This is very good news for O&G. Rigs service will be booming like hot cakes. Grab grab while cheap.

Posted by Lewis Lee > 2022-12-28 12:00 | Report Abuse

This "kampung" company can't fight with other intrenational players, i think , they can only rely on Abang Petronas, if Petronas give contract, huat lah, if not , PKM already !
So far outlook is quite good, most analysts recommend Veryslow because Abang Petronas is going to increase Drilling Rigs and HWU expenses and this is the specialty of Very-slow !


"Drilling Rigs and HWU. Petronas expects an average of 26 rigs (an increase of 30% YoY) to be chartered in 2023 (12 Jack-up rigs, 4 Tender rigs, 8 Hydraulic Workover Units, 2 semi-sub/drillships) as compared to 20 rigs (9 jack-up rigs, 3 tender rigs, 6 Hydraulic workover units, 2 semi-sub/drillships) in 2022. We highlight the clear beneficiary of this development would be Velesto Energy in our local space."

Posted by Lewis Lee > 2022-12-29 11:03 | Report Abuse

i think mostly retailers or short term players taking profit .....

Posted by StartOfTheBull > 2022-12-29 11:40 | Report Abuse

Other than news come in for new contracts secured, I don't think its share price can move up now. Profit takers dominating the transactions right now I guess.

Posted by Macgyver11 > 2022-12-29 12:38 | Report Abuse

Year end all retailers/short sellers dumping. Expected tomorrow the same scenario maybe worse. If Veryslow can take the bullet at 0.14.5 to 15c then good enough, expect next year good beginning.

Posted by Macgyver11 > 2022-12-29 12:46 | Report Abuse

What I know from sources, they continued to bidding for new contracts from international companies like Mubadala, ConocoPhillips and Shell. I hope there's some new contract announcement next year 2023. Should be...

Posted by Macgyver11 > 2022-12-29 12:57 | Report Abuse

In 2019, average crude oil price is in between usd65 to 75. That time veryslow doing very fine, received lot of new contracts from those international companies. Veryslow trading above 0.40c till covid strike the worldwide and plunged down the oil price. This year average crude oil price is usd100 above, hope the trend will continue for next year also

Posted by Macgyver11 > 2022-12-29 13:13 | Report Abuse

https://youtu.be/xguam0TKMw8


this is an interesting video about changing world order

lots of things inside from history.

Posted by Macgyver11 > 2023-01-02 11:26 | Report Abuse

Out of 7 stocks that Warren Buffet invested 2 from O&G sector (Chevron & Occidental). Meanwhile buffet is making tons of money while Bezos and Elon losing billions. Buffet is investor not inventor, so he knows all about stock market from A to Z. Buffet won't simply buy unless intrinsic and future values of particular stock is very good.

Posted by Lewis Lee > 2023-01-09 17:49 | Report Abuse

volume is back !!

Posted by SinGor > 2023-01-09 18:44 | Report Abuse

20sens Ang Pau still on the Table

Posted by SinGor > 2023-01-09 18:47 | Report Abuse

By Julianne Geiger - Jan 06, 2023, 11:00 AM CST

Hedge fund manager Andurand: full reopening of Chinese economy could send oil prices past $140 per barrel.
Andurand: The market is underestimating the scale of the demand boost.
Andurand did say last week that oil demand will be limited somewhat by a growth in the EV sector.
________________________
Most Hedge funds have unloaded Oil....Now they are Back, Today Oil price is the beginning of Oil Rally

Posted by Macgyver11 > 2023-01-12 15:14 | Report Abuse

Diam2 ambil TP..jgn bnyk comments..

Posted by Lewis Lee > 2023-01-12 15:20 | Report Abuse

diam-diam tunggu sampai TP 30c baru ketawa kuat kuat !! lol ....

Posted by Macgyver11 > 2023-01-12 16:15 | Report Abuse

Ya tiam2 ambil TP..klu bnyk comments nanti tak naik. Shark jaws semua pun baca tau. Tiam2 sdh lah...hahaha

Posted by StartOfTheBull > 2023-01-12 20:57 | Report Abuse

This heavy elephant facing strong resistance at 17c. Would need (possible) announcement of new contracts to breakout.

Posted by willc48 > 2023-01-13 10:20 | Report Abuse

velesto most underachiever despite when oil price up. must send audit to look into OPEX

Posted by obakh222 > 2023-01-13 10:39 | Report Abuse

What OPEX?

Posted by Macgyver11 > 2023-01-13 13:30 | Report Abuse

First you must know the basic principles or their nature of business....

Velesto extract raw crude oil for their customers like Shell, petronas and recently they get contract from Hess carigali...that's it. They not processing crude oil like Petronas refineries. They get their profit from rigs and HWU renting. It's all depend on how much they get paid from daily charter rates from renting the rigs/hwu to strengthening theirs balance sheets. 2020 and 2021 is very bad years where they are paid below the market rate. International rigs players are paid very well compared with our local players. They managed to recovered back in 2022 as they secured more project with higher charter rate. We hope that rigs renting rates will be increase further in 2023 as velesto customers willing to more if crude oil steady around usd 80 and above.

willc48
velesto most underachiever despite when oil price up. must send audit to look into OPEX

Posted by kingJ > 2023-01-13 15:51 | Report Abuse

Looks like gonna have good news again

Posted by Macgyver11 > 2023-01-13 16:25 | Report Abuse

II think big guys like PNP EPF going to boarding in soon. Buckle up your seat belt..hope for the best.