October 5, 2021 3:46 AM +08Last Updated 4 hours ago
Energy
Oil settles above $81 with OPEC+ sticking to output increase
By Laura Sanicola

https://www.reuters.com/business/energy/oil-falls-ahead-opec-supply-policy-meeting-2021-10-04/

Oct 4 (Reuters) - Oil jumped to a three-year peak on Monday after OPEC+ confirmed it would stick to its current output policy as demand for petroleum products rebounds, despite pressure from some countries for a bigger boost to production.
The producer club's decision to keep increasing oil output gradually sent prices sharply higher, adding to inflationary pressures that consuming nations fear will derail an economic recovery from the pandemic. read more
OPEC+ agreed in July to boost output by 400,000 barrels per day (bpd) each month until at least April 2022 to phase out 5.8 million bpd of existing production cuts.
Brent crude settled up $1.98, or 2.5%, to $81.26 a barrel. It rose 1.5% last week for a fourth consecutive weekly gain, and was back up to highs last seen in 2018.

U.S. oil settled up $1.74, or 2.3%, to $77.62 a barrel after gaining for the past six weeks, and was at its highest since 2014.
"Given the demand picture and the outcome of the OPEC meeting, the overall sentiment around crude is bullish," said John Kilduff, partner at Again Capital LLC in New York.
Demand for coal and natural gas has exceeded pre-COVID-19 highs with oil closely trailing, according to energy watchdog, the International Energy Agency. Three-quarters of global energy demand is still met by fossil fuels, with less than a fifth by non-nuclear renewables.
OPEC+, which groups the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, has faced pressure from some countries to add back more barrels to the market as demand has recovered faster than expected in some parts of the world.

Four OPEC+ sources told Reuters recently that producers were considering boosting output by more than had already been agreed. read more
The oil price rally has also been fuelled by an even bigger increase in gas prices, which have spiked by 300%, prompting switching to fuel oil and other crude products to generate electricity and for other industrial needs.

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Wow, Fantastic !
Now Hibiscs already traded at=> 0.735 (+0.025) (+3.5%)

Huat ah, Heng ah, Ong ah !

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Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Next week Brent oil price $85 to $90

Huat ah, Heng ah, Ong ah !‬

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

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Announcement details
OTHERS LETTER OF AWARD FOR THE PROVISION OF JACK-UP DRILLING RIG FOR PETRONAS CARIGALI DRILLING PROGRAMME

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3197766

Velesto Energy Berhad
Description: LETTER OF AWARD FOR THE PROVISION OF JACK-UP DRILLING RIG FOR PETRONAS CARIGALI DRILLING PROGRAMME

1. INTRODUCTION
The Board of Directors of Velesto Energy Berhad (“VEB”) is pleased to announce that Velesto Drilling Sdn Bhd (“VED”), a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned subsidiary of VEB, has received a Letter of Award from PETRONAS Carigali Sdn. Bhd. (“PCSB”), for the provision of jack-up drilling rig services (“Contract”). 
The Contract is for the provision of services of jack-up rig, namely NAGA 2, with an estimated Contract value of USD12.4 million.
 
Details of the Contract is summarised below:
2. DETAILS
2.1       Provision of Jack-Up Drilling Rig “NAGA 2”
For the provision of drilling rig services for PCSB’s drilling programme, VEB Group assigns its NAGA 2 to drill five (5) firm wells, with the extension option of one (1) plus one (1) well, with an expected commencement date of between 1 December 2021 to 31 December 2021.
NAGA 2 is a premium independent-leg cantilever jack-up rig with drilling depth capability of 30,000 feet and has a rated operating water depth of 350 feet.
 
3. INFORMATION ON PARTIES
3.1       Information on Velesto Drilling Sdn. Bhd.
VED was incorporated in Malaysia under the Companies Act, 1965 on 29 July 2003 and is deemed to be registered under the Companies Act 2016. VED is principally involved in the offshore drilling business and operations and other engineering services for oil and gas exploration, development and production in Malaysia and overseas.
 
3.2       Information on PCSB
PCSB, a wholly-owned subsidiary of Petroliam Nasional Berhad (PETRONAS), is a leading exploration and production (“E&P”) company taking on increasingly challenging projects to bring new oil and gas supplies to the market. PCSB was incorporated in Malaysia under the Companies Act, 1965 on 11 May 1978 and has its registered office at Tower 1, PETRONAS Twin Towers, Kuala Lumpur City Centre, 50088 Kuala Lumpur, Malaysia. The principal activities of PCSB are the exploration, development and production of oil and gas.
 
4. FINANCIAL EFFECTS
The provision of the above-mentioned services is expected to contribute to the earnings and net assets of VEB Group during the contract period for the financial period ending 31 December 2021.
 
5. RISK ASSOCIATED WITH THE CONTRACT
The risks associated with the execution of the Contract are operational and execution risks, which will be mitigated and/or managed by VED, a company with a proven successful track record of undertaking drilling programmes.
 
6. DIRECTORS AND SUBSTANTIAL SHAREHOLDERS INTEREST 
None of the Directors and/or the substantial shareholders of VEB and/or persons connected with the Directors and/or substantial shareholders have any interest, direct or indirect in the Contract.
 
7. STATEMENT BY DIRECTORS
The Board of Directors of VEB is of the opinion that the acceptance of the Contract is in the best interest of VEB Group.
 
This announcement is dated 1 October 2021.

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Wow, Superb good news !
ICON grabbed another big contract again !

Like that tommorrow ICON going to limit up already liao lah !
Tommorrow ICON probably will be
closed at 0.40 (+0.30) (+300%)

Huat ah, Heng ah, Ong ah !

Announcement Details
OTHERS AWARD BY A PETROLEUM ARRANGEMENT CONTRACTOR (PAC) FOR THE EXTENSION OPTIONS NO. 1 & 2 OF THE PROVISION OF ONE (1) JACK-UP DRILLING RIG FOR DRILLING PROGRAM TO PERISAI OFFSHORE SDN BHD (POSB).

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3196213

ICON Offshore Berhad

Description: AWARD BY A PETROLEUM ARRANGEMENT CONTRACTOR (PAC) FOR THE EXTENSION OPTIONS NO. 1 & 2 OF THE PROVISION OF ONE (1) JACK-UP DRILLING RIG FOR DRILLING PROGRAM TO PERISAI OFFSHORE SDN BHD (POSB).

1. INTRODUCTION
The Board of Directors (“Board”) of Icon Offshore Berhad (“ICON/Company”) is pleased to announce that its subsidiary company, POSB has received a letter of award from a PAC to exercise the Extension Options No. 1 and 2 for the provision of one (1) jack-up drilling rig. 
 
2. BACKGROUND/DETAILS OF THE AWARD
The PAC had on 29 December 2020 issued a letter of award to POSB for their Drilling Program which has commenced in mid-April 2021 for a duration of 180 days for eight (8) wells. In the said letter of award, there are provisions for 3 contract extensions for up to 6 wells.
On 23 September 2021, POSB has received a letter of award from the PAC to exercise the Extension Options No. 1 and No. 2 for their Drilling Program. The expected commencement is in October 2021 for a period of 120 days for four (4) wells as per the following table:-
 
Extension Option No. 1: 3 wells
Extension Option No. 2: 1 well
 
3. FINANCIAL EFFECTS ON ICON
The contract award is expected to contribute positively to the earnings, order book and net assets of ICON for the financial year ending 31 December 2021 and beyond. With this award, the Order Book will increase to RM770 million. Notwithstanding this, the Award is not expected to have any material effect on the share capital and shareholding structure of ICON.
 
4. RISKS ASSOCIATED WITH THE AWARD
The risks associated with the contract award are mainly operational risks such as accidents and unexpected breakdown of the rig. In mitigating such risks, ICON carries out routine dry-docking inspections, repairs and regular maintenance based on the Company’s comprehensive planned maintenance program. Together with ICON’s strict health, safety and security policy and procedures, ICON is of the view that the likelihood and impact of these risks are considered to be manageable within an acceptable level.
 
5. CONFIDENTIALITY
The contents of this announcement follow the terms of the contract award and the approval for the release of the announcement has been provided by the PAC.
 
6. DIRECTORS' AND SHAREHOLDERS' INTEREST
None of the directors, major shareholders of ICON and/or persons connected with the directors or its major shareholders have any interest, direct or indirect in the Award.
 
7. DIRECTORS' STATEMENT
Our Board believes that the contract award is in the best interest of POSB and the holding company, ICON.

Date Announced : 28 Sep 2021

Wow, super good news !
KNM grabbed another big project of RM13.4 million ringgit !

Like that tommorrow KNM going to limit up liao lah !
Tommorrow KNM probably
will be closed at => 0.55 (+0.30) (+150 %)

Huat ah, Heng ah, Ong ah !

Company Announcement
OTHERS Award of Contract by PEC Powercon Sdn Bhd to KNM Group Berhad's Wholly-Owned Subsidiary, KNM Process Systems Sdn Bhd amounting to approximately RM13.4 million

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3195855

KNM Group Berhad


Description: Award of Contract by PEC Powercon Sdn Bhd to KNM Group Berhad's Wholly-Owned Subsidiary, KNM Process Systems Sdn Bhd amounting to approximately RM13.4 million

1.     Introduction
 
KNM Group Berhad (“KNM”) is pleased to announce that its wholly-owned subsidiary, KNM Process Systems Sdn Bhd (“KNMPS”), has on 28.09.2021 signed a contract with PEC Powercon Sdn Bhd for the Pre-Fabrication Tank for Combined Cycle Power Generating Facility of up to 1,200mw at Pulau Indah, Selangor , amounting to approximately RM13.4 million  (“Transaction”).
 
The supply and delivery duration of the Transaction is for a period of approximately 11 months from the date of the contract.
 
2.     Information About the Parties
 
KNMPS was incorporated as a private limited company under the law of Malaysia on 28 June 1990 and it is principally involved in the design, engineering, procurement and manufacturing of process equipment, including without limitation pressure vessels, reactors, columns and towers, drums, heat exchangers, air finned coolers, process gas waste heat boilers and specialized shell and tube heat exchangers, condensers, spheres, process tanks, mounded bullets, process skid packages and turnkey storage facilities as well as technical and project management services in relation to process equipment, plant facilities and general facilities for the oil, gas, petrochemicals, minerals processing and renewable energy industries worldwide inclusive of solar PV installation work and solar leasing.
                                            
PEC Powercon Sdn Bhd was incorporated as a private limited company under the law of Malaysia on 18 February 2020 and principally involve in construction of building n.e.c.   
 
3.     Financial Effect of the Transaction
 
The Transaction is expected to contribute positively to KNM Group’s earnings for the financial year ending 31 December 2021 and 31 December 2022.
 
4.     Risk Factors

The Transaction is subject to certain commercial and financial risks mainly in the power, oil, gas, petrochemical, and energy industries. These include changes in general economic conditions such as, but not limited to inflation, environmental, health and safety regulations, taxation, foreign exchanges, interest rates, labour and material supply, changes in business and operating conditions such as, but not limited to government and statutory regulations and deterioration in prevailing market conditions.
 
KNM is already operating in these industries and hence would continue to be exposed to risk factors that they currently face whilst operating in these industries.
 
Although KNM with its vast experience may undertake efforts to mitigate the various risk factors, there is no assurance that any change in the above risk factors will not have a material adverse effect on the business and operations of KNM.
 
5.     Approvals

The Transaction is not subject to the approval of the shareholders of KNM or any regulatory authority in Malaysia or in any other country.
 
6.     Directors' Statement
 
Having considered all aspects of the Transaction, the Board of Directors is of the opinion that the Transaction is in the best interest of KNM.
 
7.     Directors' and Major Shareholders' Interest

None of the directors and/or major shareholders of KNM, and/or any persons connected with them, have any direct or indirect interest in the Transaction.
 
8.     Documents for Inspection
 
Details of the Transaction are available for inspection at the registered office of KNM at 15 Jalan Dagang SB 4/1, Taman Sungai Besi Indah, 43300 Seri Kembangan, Selangor Darul Ehsan, Malaysia for three (3) months from date of this Announcement during normal business hours from Mondays to Fridays.
 
 
This announcement is dated 28 September 2021.

Wow, Fantastic !
Now Hibiscs already traded at=> 0.70 (+0.035) (+5.3 %)

Huat ah, Heng ah, Ong ah !