VELESTO ENERGY BERHAD
KLSE (MYR): VELESTO (5243)
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Last Price
0.185
Today's Change
0.00 (0.00%)
Day's Change
0.185 - 0.19
Trading Volume
5,763,500
IPO Info
File Name: UMW-OG - Abridged Prospectus (Part I).pdf Download
Discussions
29 people like this. Showing 50 of 24,326 comments
Velesto banyak fragile, oil price turun sikit dia jatuh mendadak. Oil price naik banyak dia jalan flat..banyak susah mahu predict ini velesto, tapi apa-apa boleh berlaku dalam stock market. Kena sabar je ler.
1 month ago
Torday, Velesto plotted a pair of Bottom Tweezers candle stick which signify trend will be reversed to ascend and make breakout resistance of RM0.25.
1 month ago
https://oilprice.com/Latest-Energy-News/World-News/Indonesia-Looks-to-Revive-Its-Oil-and-Gas-Industry.html
______________________
Velesto no longer has to depend on Petronas----I think Petronas will "lock-in " Velesto capacity in 2026--30
1 month ago
Indonesia population come very near 300mil ( Malaysia only 34mil ) Indon cannot afford EV within next 10yrs
so they have to depend on Oil extraction---Any Rigs movement from Malaysia water to Indonesia is fast and
cost much Less, ----much lower than said Thailand or Vietnam ( got monsoon weather )
1 month ago
https://www.upstreamonline.com/field-development/petronas-looking-to-build-on-its-thriving-business-offshore-indonesia/2-1-1727926
This will justify what SinGor mentioned earlier. Referring to this article, most probably, Velesto will divert their rigs to Indonesia off shore for an up-coming new contract, which is still under PETRONAS, but I guess PETRONAS will pay them much higher DCR...
1 month ago
https://www.thestar.com.my/business/business-news/2024/10/29/petronas-plans-significant-expansion-in-indonesia
JAKARTA: Malaysian national oil company Petroliam Nasional Bhd (PETRONAS) plans an “aggressive” expansion in Indonesia that will see it create a hub for its operations in East Java and invest in exploration in the country’s far-flung eastern regions, its Indonesia head says.
Indonesian President Prabowo Subianto’s government, which took office this month, has pledged to bolster energy development, aiming to reverse a decades-long decline in output by the former Organisation of the Petroleum Exporting Countries member.
3 weeks ago
As far as I know, Trump got mentioned that if he wins the election, USA will pull out of the Paris agreement.
2 weeks ago
3 assassins Capture by FBI who are suppose to KILL Trump before election are Hired by Iran ( revenge killing
bcos Trump ( US President then-- Order ) Iran General to be killed in a Drone strike )--Big Question on Monday,
Will Biden ask Israel to strike Iran next week bcos US policy is,-- USA can kill Iran General but Iran cannot kill
USA President ( not a fair world )
2 weeks ago
The potential merger between MISC and Bumi Armada is heating up. Petronas owns 51% of MISC's stake. Refer to the past news: PNB is willing to do the same if there is a good buyer. PNB also holds 13.25% of Bumi Armada shares. What's going to happen next, no one knows.
1 week ago
Velesto plotted double bottom candle sticks pattern between 9th September 2024 and 15th November 2024 and will reverse to ascend trend after breaking out of upper boundary of consolidation or Accumulation Phase recently.
1 week ago
Trump has said ( recently ) he will Cut subsidy to EV car---Tesla overjoy bcos All US Big Car manufacturer cannot
compete with Tesla----Forget Green tech in next 5 years ( Trump era ) Even EU has collapsed EV target----Oil
is still KING
1 week ago
PRESS RELEASE - TECHNOLOGY COLLABORATION: VELESTO, PETRONAS, AND NOV ON DRILLING RIG AUTOMATION SYSTEM AND ROBOTICS
2024-11-20 - 12:57 pm
Anyone here understand what this is all about? And why it is so important for a rig service company like Velesto.
5 days ago
xcraft
https://www.petronas.com/media/media-releases/petronas-enhances-ep-technology-two-new-mous
1 week ago
*********************************************
👆🏼👆🏼👆🏼👆🏼👆🏼
Macgyver111
PRESS RELEASE - TECHNOLOGY COLLABORATION: VELESTO, PETRONAS, AND NOV ON DRILLING RIG AUTOMATION SYSTEM AND ROBOTICS
2024-11-20 - 12:57 pm
Anyone here understand what this is all about? And why it is so important for a rig service company like Velesto.
4 hours ago
4 days ago
Velesto collaborates with Petronas to implement automation, robotics on its drilling rigs
4 days ago
Guys, here are the benefits from the rigs automation program, which is conducted by Velesto. Cost saving is tremendous if they really can execute it very well. Operation cost is the number one burden for most of the rig providers. (I do some research, feel free to read)
Benefits of automated handling robots for oil & gas drilling rigs.
1. Reduce accidents at the rig operation platform. Employee safety is most important, which needs to comply with HSSE regulations. Approximately 1,600 injuries and 18 fatalities were reported in 2014. Today it might increase more.
2. Reduce high operation costs. Offshore workers need to be highly certified, which translates into substantial labor costs.
3. Transportation—highly skilled workers need to be transported to and from the platform by helicopter, which results in high transportation costs.
4. Time is valuable. Time needed until the first gas or oil is actually pumped. The shorter this time, the more profitable the drilling project will be.
5. Prevent environmental impacts. To minimize the footprint of the operation, reduce the amount of energy needed and prevent accidents that might have a detrimental effect on the environment.
6. Reduce manual operations. As the automation systems are implemented, they will be replacing the manual workforce. Handling by robots is only a step towards lower operation.
Summary:
The system basically consists of a drill floor robot, robotic roughnecks, multi-size elevators, and robotic pipe handlers. It is designed to remove high-risk manual tasks from drilling platforms while adding a new level of speed, accuracy, and reliability to drilling operations.
4 days ago
most Co reporting for 3rd Qr suffers Losses from forex----luckily Velesto "DonT" include forex in computing
Net Profit so i think Net Profit will be same as last Qr ( maybe better due to increase in Day Rate )
3 days ago
1 rig only, where got 3 rigs. The management (Velesto) is supposed to send 3 rigs for a special periodic survey. In the 2nd quarter, 1 rig completed this survey. 3rd qtr 1 rig and 4th qtr another rig. If they send 3 rigs one short...koyak lah, how to supply oil for the Petronas contract?
3 days ago
Today Velesto plotted Tweezer Bottom of two candle sticks pattern that signify the ascending trend will continue in coming weeks.
3 days ago
Goodwill5, thanks. Rising in brent price due to Russia/Ukraine tension will further strengthen your theory + upcoming excellent qtr result next week.
3 days ago
Atlas0103
SinGor net profit must be lower than past QR due to 3 rig under maintainance
______________________
Unless there is major structural damage and no spare parts----I think "normal maintenance" should not
take more than a week per Rig ( not a expert ) Similar to my factory normal maintenance, mechanic already
know what standard procedure are ( except for unforeseen parts brokerage )
3 days ago
Naga 7 scrap value will be reported in 3Q??? For a 500m vessel, 10% will be 50M??? ( donT know whether
insurance Co takes the scrap value )
3 days ago
I think there shouldn't be any impact in the upcoming financial report (3qtr). Please read the last paragraph of their recent announcement....
The loss of Velesto NAGA 7 was recovered from Hull & Machinery Insurers with recognition of the insurance claim of RM560.9 million as announced in the company’s quarterly results announcement on 28 February 2022. The cost of wreck removal is not expected to affect the group’s finances as covered by Protection & Indemnity Insurance taken by the group. Barring unforeseen circumstances, with the completion of the wreck removal activities, the company does not expect further significant financial or operational impacts arising from the removal activities.
The company extends gratitude to all parties involved, including the clients, contractors, insurance brokers & underwriters, and regulatory authorities, for their cooperation and support throughout the removal process.
2 days ago
War in between Russia Ukraine heat up..
https://www.livemint.com/news/world/russia-fires-nuclear-capable-intercontinental-ballistic-missile-at-ukraine-for-first-time-what-is-icbm-11732184710303.html
2 days ago
Perdana - net profit 74mil ++
Armada - net profit 211++
Velesto - net profit????
Wait next week...😂😂😂.
2 days ago
I think doesn’t matter. Retailer got no money and Funds not interested to buy high.
I suppose we need EPF to allow more withdrawal to stimulate the market.
2 days ago
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SinGor
Israel has phosphorus bomb if they really want to burn down even metal pipings ( phosphorus bomb can
generate extreme Heat which will melt metal pipe --massive damage in making---I heard Israel PM say many
many times )
1 month ago