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Morning short stay at 7.36, fingers too slow and distracted by Kepcorp.
North Sea oil pipeline closure sparks fuel panic in Britain
GRANGEMOUTH, Scotland (AFP) - - Britain on Sunday shut down a North Sea pipeline which supplies 40 percent of its oil and gas, sparking panic-buying of petrol after a strike at a major refinery.
The pipeline brings more than 700,000 barrels of crude oil ashore every day and supplies Britain and international markets. It cannot function without power and steam from Grangemouth.Offshore oil industry body Oil and Gas UK has urged politicians to intervene in the dispute, saying the pipeline closure will cost the economy 50 million pounds (65 million euros or 100 million dollars) per day in lost production.
The moral of the story is, if you got free cash, keep it loh. Cheers.
While the group's operating profit was up 7% yoy, operating profit from refining business actually dropped 24% or $25m from a year ago. This was despite a stable refining margin of US$7/bbl. Oil hedging loss, weak US dollar, and high freight rate contributed to the yoy decline in operating profit from refining business.
Management did not disclose details of its hedging activities but indicated that hedging cost was $10m higher than 1Q07. The remaining $15m decline in operating profit was attributed to weak US dollar and high freight rates.
SPC will likely focus more on E&P organic growth during the next 2 years. SPC's share of E&P output rose to 11,000boepd from 2,600boepd in '06 following the start up of Oyong field and the acquisition of Bohai assets. E&P output is expected to average 11,000boepd in '08. Previously, the management targeted to raise E&P output to 30,000boepd within the next 3 years via organic growth.
Refining business will continue to dominate SPC's earnings in the coming years. DBS expect SPC's quarterly earnings to peak in 2Q08 supported by seasonally strong refining margins and record crude prices. 1Q08 net profit accounted for 20% of DBS's full-year forecast. DBS expect quarterly earnings to jump to $160m-$180m in 2Q08, and soften to $100m-$130m in 3-4Q08.
Based on DBS's recently raised crude price assumptions, they forecasted higher FY08-09F net profit by 1.8% and 11%, respectively. Hence, they revised their sum-of-parts target price to $7.84. Their Hold rating is based on (i) attractive dividend yield of c.7.5%, (ii) current strong refining margin and high crude prices, and (iii) relatively cheaper valuations compared to regional peers.
agree with idesa view also.....t+3 situation.
AK_Francis ( Date: 25-Apr-2008 21:50) Posted:
It is more market driven, though crude oil price will affect it but nowadays not significant leow.
Last 10 Oct, SPC was at 8.20, STI around 3800 and crude oil around 80 USD. Henceforth, provided STI cheong gradually, likely we will not smell SPC to swing upwards greatly. AK view only.
I support Idesa view, T+3 scenario. My SPC still intact with me, no hurry to clear them. However, my 2 lots of contra one, Mon is the last day leow, not enough cash to buy in loh. But consider to reduce weight on Kepland as it hold up my capital since Feb this yr leow. Kepcorp sold half afte XD, if situation permit loh. |
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It is more market driven, though crude oil price will affect it but nowadays not significant leow.
Last 10 Oct, SPC was at 8.20, STI around 3800 and crude oil around 80 USD. Henceforth, provided STI cheong gradually, likely we will not smell SPC to swing upwards greatly. AK view only.
I support Idesa view, T+3 scenario. My SPC still intact with me, no hurry to clear them. However, my 2 lots of contra one, Mon is the last day leow, not enough cash to buy in loh. But consider to reduce weight on Kepland as it hold up my capital since Feb this yr leow. Kepcorp sold half afte XD, if situation permit loh.
px up coming wed?
ViperG ( Date: 25-Apr-2008 14:17) Posted:
Should consider going in only after oil price drop or hover at $100-$110. Going in now is a bit risky as there might be another adjustment due to oil price. Am looking for shorting opportunities since Dividend period is about over....hehe.
idesa168 ( Date: 25-Apr-2008 13:33) Posted:
| My take, PSC will not trade higher than of 7.34 these few days. Reason being, CK will try to prevent ppl from profiting form the divvy of 40¢ if bought yesterday @7.74. Probably now to T+3, will be range bound between 7.20-7.34. Then afterthat will depend on the mkt force to push or pull the price. I am waiting at the sideline to buy in again (although I sold half this morning) if SPC ever go down below 7.20. Cheers! |
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Should consider going in only after oil price drop or hover at $100-$110. Going in now is a bit risky as there might be another adjustment due to oil price. Am looking for shorting opportunities since Dividend period is about over....hehe.
idesa168 ( Date: 25-Apr-2008 13:33) Posted:
| My take, PSC will not trade higher than of 7.34 these few days. Reason being, CK will try to prevent ppl from profiting form the divvy of 40¢ if bought yesterday @7.74. Probably now to T+3, will be range bound between 7.20-7.34. Then afterthat will depend on the mkt force to push or pull the price. I am waiting at the sideline to buy in again (although I sold half this morning) if SPC ever go down below 7.20. Cheers! |
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agree AK.. haha... or buy liverpool win next week :P
Ha 7.27 was the previous TP posted by the local bank research arm. Buy 4 D 2morow leow since stock market at this moment don't give much perks leow.
my take is can stay ard 7.3 v good liao
My take, PSC will not trade higher than of 7.34 these few days. Reason being, CK will try to prevent ppl from profiting form the divvy of 40¢ if bought yesterday @7.74. Probably now to T+3, will be range bound between 7.20-7.34. Then afterthat will depend on the mkt force to push or pull the price. I am waiting at the sideline to buy in again (although I sold half this morning) if SPC ever go down below 7.20. Cheers!
Gas, oil prices to double by 2012, CIBC economist predicts
Nathan Denette/National PostCIBC World Markets' Jeff Rubin stands by a screen showing his predictions for gas prices to double by 2012.
TORONTO -- Forget the fuss about US$100 oil; the liquid gold will be trading twice as high within the next few years as production stalls, Canada's most aggressive oil forecaster says.
Jeff Rubin, chief economist at CIBC World Markets says oil production will barely grow over the next five years, edging up barely more than 1-million barrels a day over the next three years, and only half a million barrels a day between 2010 and 2012.
The increases will fall far short of demand, forcing the price of crude oil to surge to US$150 a barrel by 2010, and over US$200 a barrel by 2012. The updated forecast is aggressively higher than Mr. Rubin's previous forecast of US$150 a barrel by 2010 and follows the recent record-breaking run in light crude prices, which fell just US10-cents short of US$120 a barrel on Tuesday.
"Despite the recent record jump in oil prices, the outlook suggests that oil prices will continue to rise steadily over the next five years, almost doubling from current levels," Mr. Rubin said in his latest oil outlook report.
"Whether in fact, these levels will define ultimate production peaks or not, cannot of course be known at this time, but whether they do or do not define such peaks, they indicate at a minimum that world oil markets will remain as tight over the next five years as they have over the last two years."
He said growing demand for fuel from developing countries such as India would drive a surge in car ownership, and hence intensify demand for fuel. However, surging prices would cause demand to ease in the United States, with gasoline prices, already averaging US$3.60 a gallon, climbing to well over US$4 a gallon this summer and as much as US$7 a gallon by 2012.
Furthermore, he said a rise in natural gas liquids found in current oil production was a sign of depleting oil supply as falling well pressure releases natural gas trapped in mature oil fields.
The forecasts goes against many strategists that expect slower global and U.S. economic growth to drag oil prices back below US$100 a barrel this year.
As posted earlier in other correspondance, pants wet the whole morning to monitor 5 importence counters. Brokenheart leow, exit to take a break. No mode to go for d AGM, firstly no mode to listen to Mr Lim talking so good about the coy as Kepcorp diarrhoea early the morning and secondly no appetite to eat and drink leow, goodie bag, forget about it. Hv a beer later during lunch break to ease pressure may be better loh.
all right, man u r back....gone in missing action since morning arh....u gone to attend AGM???
If got players around how to expect it go up immediately after the div variant is reached. Now got 264 Q to buy at 7.29 seller at 7.30 only 99. Likewise with Kepcorp, their performance really out of expectation, not jell.
Hv not contra out my misrable 2 lots yet. But I will keep my existing one, hope there is perk given along the way loh.
Last year SPC declare 20cts dividend during 2Q.
dropping more than div 40cents.... sigh... when cheong up again?? next qrt?? SPC giving out div every qrt?? normally how much?? thks bro n sis
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Why is it not going up???
Hi, All...Next to try our luck should be KepC. XD will be on Monday for $550/lot...Depend on Market, we might make either half of 30-40% of the dividend payout. Looking at KepC XD trend in the past few years, it seems like they have maintained XD closing price pretty well. Do your analysis and take your bet on this potential.
