Beautiful Profit for 1 Quarter report. Revenue 48,880 Profit/(loss) before tax 24,483 Profit/(loss) for the period 21,617 Profit/(loss) attributable to ordinary equity holders of the parent 20,359
Chinese Oil Demand Is Almost Back to Pre-Virus Crisis Levels Stock Markets3 hours ago (May 18, 2020 07:36AM ET)
(Bloomberg) -- Chinese oil demand is all but back to levels last seen before Beijing imposed a national lockdown to fight the coronavirus outbreak, according to people with inside knowledge of the country’s energy industry.
China is the world’s second largest oil consumer, behind only the U.S., and the country’s quick turnaround has helped tighten the petroleum market sooner-than-expected. West Texas Intermediate crude, which a month ago plunged into negative prices, surged on Monday above $30 a barrel.
“China’s oil demand is starting to show optimistic signs of full recovery, led by diesel,” said Liu Yuntao, a London-based analyst with consultant Energy Aspects.
Newsbreak: Petronas moots oil and gas trust for OSV sector TheEdge Mon, May 18, 2020 04:00pm - 6 hours ago
The plan
In a nutshell, the unitholders of the trust will be shareholders of OSV companies, financial institutions and banks, as well as Permodalan Nasional Bhd (PNB).
Apart from Petronas, PNB has the most significant exposure to the oil and gas sector. Based on its annual report, PNB and its related companies have equity interest of 60.18% in Velesto Energy Bhd, 38.21% in Sapura Energy Bhd, 12.82% in Bumi Armada Bhd, 10.11% in Petronas Gas Bhd, 8.27% in Petronas Dagangan Bhd, 7.9% in Petronas Chemicals Group Bhd, almost 6.5% in MISC Bhd and 6.36% in Serba Dinamik Holdings Bhd, among others.
Another state-controlled entity, Icon Offshore Bhd, which is 42.57% controlled by Yayasan Ekuiti Nasional (Ekuinas), has 32 OSVs. Other large OSV players include Alam Maritim Resources Bhd, which has 39 vessels, according to its website, and Perdana Petroleum Bhd, which has 16 vessels and is 60.48% controlled by Dayang Enterprise Holdings Bhd. There are also other large companies such as floating production, storage and offloading (FPSO) player, Yinson Holdings Bhd, which has four offshore support vessels that are largely for its own use.
Petronas went on to highlight a proposal to build new OSVs to the tune of RM3.4 billion, with charter rates for all vessels to reach RM3.5 million a day or a little above RM1.2 billion a year.
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Posted by mf > 2020-05-18 11:08 | Report Abuse
trap 125-135