just wonder...is there any possibility of ex-EPF boss become CEO of Sapura Energy since he just left EPF...

All the best Velesto.

Petronas invites bids for building of 16 OSVs

IN view of its ageing fleet of offshore support vessels (OSVs) for the oil and gas (O&G) industry, Petroliam Nasional Bhd (Petronas) has recently put out to tender the building of 16 such vessels.

It is understood that this is just the first batch of contracts up for grabs. The national oil firm’s plan is to build 100 vessels in four years — a move to phase out its old vessels, according to industry sources.

Currently, about 60% of the OSVs that are in service are at least 11 years old, which is not far from the 15-year limit imposed on these vessels.

In the latest Activity Outlook for 2021-2023, Petronas wrote that it was committed to ensuring operational safety during offshore transport. “Efforts are underway to replace the ageing fleet that is currently serving our operations through collaboration with the marine [fleet]. In addition, Petronas is currently considering options for new vessel technology for our operations that can accomodate 365 days operability per year, able to provide comfort to passengers during voyage and safe passenger transfer from vessel to platform and vice versa, among others.”

The newly built vessels will mainly be deployed for upstream activities, which are usually chartered on long-term contracts by oil majors.

Indeed, the national oil firm has already said this is an opportune time for local players and financiers to re-evaluate investment opportunities. “The Outlook depicts consistent demand for vessels supporting production operation from year to year,” says Petronas on the prospects for the OSVs for the oil production segment.


Although the industry is not out of the woods yet, industry sources say the invitation for bid is being sent out now considering that it takes 18 to 24 months to build one vessel. The building of the vessels will have been done by 2023, when a number of long-term charter contracts expire. The new OSVs will be just in time to replace the old ships.

Given the uncertainties on the horizon, Petronas is offering long-term charter contracts for each vessel even before they are built. Sources say the contracts will help protect OSV operators from the risk of not being able to secure contracts after the ships are built.

This time around, the tenure of the charter contracts is up to eight years. They will be structured as three-year contracts that are renewable for another three years plus a second renewal of two years.

Apart from earnings risks, the assurance of charter contracts in hand will also help ease the O&G players’ difficulties with obtaining financing — a major challenge that many have faced since the industry slumped into a prolonged downturn in 2015.

O&G players often face the problem of getting sufficient financing from banks to fund fresh contracts or projects that are hard to come by owing to the dearth of jobs during the current industrial recession. Consequently, this has formed a vicious cycle among the financially stressed companies. Because of their weak financial footing, they find it difficult to secure bank loans to execute any new projects that could save them from going belly up.

The recovery of global crude oil prices, which are nearing pre-Covid levels, gives a glimmer of hope of better prospects for the O&G industry after it experienced the collapse of oil prices to sub-zero last year.

Petronas’ efforts to replace its ageing vessels will be another boost to the OSV operators’ hopes of getting out of troubled waters soon, after struggling with job scarcity, depressed charter rates and overcapacity for five years.

Nevertheless, there are still concerns. Given the drought of decent long-term charter contracts, some OSV operators are expecting intense competition for Petronas’ new contracts, including from foreign bidders.

According to sources, Petronas has set a few requirements for new OSV contracts. One is that the new OSVs have to be built in the local shipyards and that the bidders have to obtain financing locally, including from foreign banks operating in Malaysia.

Some local players are keeping their fingers crossed that home-grown OSV operators will be considered first.

There is also a concern that Petronas may set ceiling prices that are too low, should there be any imposed on the bids. In the past, many charter contracts awarded were below some companies’ operating expenses. On the other hand, others may argue that these companies should have stepped up efforts for better cost management to stay competitive for jobs.

It should be noted that Petronas did mention the “prioritisation of local vessels will continue to be exercised” in its Activity Outlook report.

https://www.theedgemarkets.com/article/petronas-invites-bids-building-16-osvs

hehehe. Aiyo 15% on revenue only ma. with price surging silap more that that they will get.

yeah PETRONAS start giving contract for OSV and many other project.

memang la riuh. duit jugak. yang you panas pasai apa ? apa da ? mcm ni punya org pun ada.

waiting for PNB...lai lai lai

Institutional Investor start coming in.

who ever sell previously now become gila. hehehe.

wow fly

U.S. Gas Prices Explode On Freezing Weather

https://oilprice.com/Energy/Gas-Prices/US-Gas-Prices-Explode-On-Freezing-Weather.html

U.S. Oil Prices Jump Above $60 Amid Texas Ice Storms

https://oilprice.com/Energy/Oil-Prices/US-Oil-Prices-Jump-Above-60-Amid-Texas-Ice-Storms.html

Post removed.Why?

Government Investment arm is in the process of selling a lot of Assets. Today EPF also selling their assets including EPF Jalan Raja Laut in KL. You can imagine that.

All the Amanah Saham, PNB, kwap...semua tidor ker.

sapula di sleeping giant :-)

but EPF not the major shareholder.

waiting for PNB coming.

This week you will see all IB and Investor coming to attack oil & gas counter. The reason they believe price of brent will surpass 70 USD because many oil & gas company not planning to restart drilling or operation anytime soon as they see covid 19 situation not really stable yet even with the introduction of vaccine. However everywhere in the world storage now going into lower level. No Production. No Supply increase. Many rigs still on ideal and not going to restart anyway soon. You are seeing oil price now sky rocketing. Even Many Opec Nation want the price at least at 80 USD for them to survive and cover their budget and stimulus.

You see even with 12 week increase in rig count also cannot help because they are way below than rig count in march 2020 and short of 2.1 million bpd. Shale producer are very careful now because they are in huge debt and some of them are already option for bankruptcy. The glory day of shale oil is over with the exit of Trump. Biden taking way deferent approach and he is not keen to continue many of trump administration decision especially on oil & gas. That is why many shale producer now on wait and see mood.

Buy and keep la. One day it will reach Maybe above RM 1,RM 5, RM 10 or even higher. Like myself buying MPI at RM 7.10 and now already RM 38.60. So you never know. Like DNEX they have 2 good potential stable income which from oil & gas and semiconductor. This is good already. Both are consider as global engine growth.

Oil majors trim shale dreams. ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), and BP (NYSE: BP) have collectively shelved as much as 2.4 mb/d in future oil production plans from U.S. shale, according to an analysis from Energy Intelligence. The strategy overhaul means the majors will focus on cash generation rather than production growth. Excess cash flow will go to paying down debt or otherwise be returned to shareholders.

Shell says its production already peaked. Royal Dutch Shell (NYSE: RDS.A) said it would start reducing oil production at a rate of 1 to 2% per year, which would include asset sales. The company said from now on it would allocate 25% of its capex to renewables and marketing, or $5 to $6 billion. Marketing includes retail gasoline stations and lubricants.

Biden admin launches $100 million clean energy funding. The U.S. Department of Energy’s Advanced Research Projects Agency-Energy, or ARPA-E, announced $100 million in funding for low-carbon technologies. ARPA-E funds high-risk high-reward early-stage technologies.

https://oilprice.com/Energy/Energy-General/How-High-Can-Oil-Prices-Go.html

You see even with 12 week increase in rig count also cannot help because they are way below than rig count in march 2020 and short of 2.1 million bpd. Shale producer are very careful now because they are in huge debt and some of them are already option for bankruptcy. The glory day of shale oil is over with the exit of Trump. Biden taking way deferent approach and he is not keen to continue many of trump administration decision especially on oil & gas. That is why many shale producer now on wait and see mood.

Next week you will see all IB and Investor coming to attack oil & gas counter. The reason they believe price of brent will surpass 70 USD because many oil & gas company not planning to restart drilling or operation anytime soon as they see covid 19 situation not really stable yet even with the introduction of vaccine. However everywhere in the world storage now going into lower level. No Production. No Supply increase. Many rigs still on ideal and not going to restart anyway soon. You are seeing oil price now sky rocketing. Even Many Opec Nation want the price at least at 80 USD for them to survive and cover their budget and stimulus.

Next week you will see all IB and Investor coming to attack oil & gas counter. The reason they believe price of brent will surpass 70 USD because many oil & gas company not planning to restart drilling or operation anytime soon as they see covid 19 situation not really stable yet even with the introduction of vaccine. However everywhere in the world storage now going into lower level. No Production. No Supply increase. Many rigs still on ideal and not going to restart anyway soon. You are seeing oil price now sky rocketing. Even Many Opec Nation want the price at least at 80 USD for them to survive and cover their budget and stimulus.

Next week you will see all IB and Investor coming to attack oil & gas counter. The reason they believe price of brent will surpass 70 USD because many oil & gas company not planning to restart drilling or operation anytime soon as they see covid 19 situation not really stable yet even with the introduction of vaccine. However everywhere in the world storage now going into lower level. No Production. No Supply increase. Many rigs still on ideal and not going to restart anyway soon. You are seeing oil price now sky rocketing. Even Many Opec Nation want the price at least at 80 USD for them to survive and cover their budget and stimulus.

Next week you will see all IB and Investor coming to attack oil & gas counter. The reason they believe price of brent will surpass 70 USD because many oil & gas company not planning to restart drilling or operation anytime soon as they see covid 19 situation not really stable yet even with the introduction of vaccine. However everywhere in the world storage now going into lower level. No Production. No Supply increase. Many rigs still on ideal and not going to restart anyway soon. You are seeing oil price now sky rocketing. Even Many Opec Nation want the price at least at 80 USD for them to survive and cover their budget and stimulus.

Based on current scenario, BRENT will touch 70 USD very fast. OPEC will have their meeting in March and they have to decide what to do next.

based on current trend, oil is heading for 70 USD.

MPI in the making

Aiyo Ron90...Sapura already rock bottom for many month. with all price rising and new contract awarded, no choice but the share price have to go up and not go down.

Oil Price currently rally above 61 USD and with this combination. Tomorrow kaw kaw chinese new year angpow from Sapura.

fuh sekali announcement keluar so many project awarded and including project from ARAMCO. Perghh..

https://www.theedgemarkets.com/article/sapura-energy-bags-rm185-bil-worth-contracts

KUALA LUMPUR (Feb 10): Sapura Energy Bhd said today that its wholly-owned subsidiaries and joint venture (JV) company have been awarded RM1.85 billion worth of contracts and contract extensions, comprising engineering and construction, and drilling works in Saudi Arabia, Thailand, Brunei and Malaysia.

In Saudi Arabia, its subsidiaries Sapura Fabrication Sdn Bhd and Sapura Saudi Arabia Co were awarded the In-Kingdom and Out-of-Kingdom CRPO 59 for three oil jackets in the Zuluf, Ribyan and Abu Sa’fah oil fields, by Saudi Aramco and Aramco Overseas Co BV. The works are expected to be completed by the first quarter of 2022.

“We are honoured to be awarded the CRPO 59 (contract via release of purchase order 59) by Saudi Aramco, one of the world’s biggest oil and gas producers. This is a significant win for Sapura Energy, proving our technical capabilities.

“It also strengthens our strategy to grow the business and expand our presence in the Middle East,” said Sapura Energy president and group chief executive officer Tan Sri Shahril Shamsuddin in a statement.

In Thailand, Sapura Energy (Thailand) Ltd received an award of service request for Year 2021 Wellhead Platforms & Pipelines Installation and Wellhead Platforms removal campaign from Chevron Thailand Exploration and Production Ltd, Chevron Offshore (Thailand) Ltd and Chevron Pattani Ltd.

The scope of work comprises engineering, procurement, construction and installation of wellhead platforms and pipelines and the wellhead platforms removal, to be completed by the fourth quarter of its financial year ending Jan 31, 2022 (4QFY22).

In Malaysia, Sapura Offshore Sdn Bhd was awarded two contracts, comprising a contract for the transportation and installation of offshore facilities under the Pan Malaysia Transportation and Installation of Offshore Facilities (Year 2020), as well as an appointment as a subcontractor for the Transportation and Installation Works for the Wellhead Platform Jacket and Topside (Campaign 1) for Kasawari Gas Development Project.

Another unit, Sapura Geosciences Sdn Bhd, received a letter of award from Petronas Carigali Sdn Bhd for the provision of marine site investigation and pipeline route survey services for Bestari Field, to be completed by 2QFY22.

Meanwhile, Sapura Energy's JV company Sapura Baker Hughes TPS Sdn Bhd was awarded a 9.5-year contract for the comprehensive maintenance of Baker Hughes-supplied turbomachinery equipment under a long-term service agreement, commencing Feb 1, 2021.

In addition, its subsidiary Sapura Drilling Sdn Bhd secured a contract extension in Brunei for its semi-submersible tender assisted drilling rig Sapura Pelaut from Brunei Shell Petroleum Co Sdn Bhd, which covers a firm period of 145 days commencing April 2021.

Sapura Energy shares closed unchanged at 12.5 sen today, giving the group a market capitalisation of RM2 billion.

tak habis collect ke. 0.17 done. now 0.165 pulak. banyak betul di collect

at 60 USD ..this one supposed to be 80cent.

Dayang go up .. PERDANA will follow.

hahah Najib mengamok in FB. Moo and Asimin have to answer. Goodluck.

alamak news out already. Habis. esok semua retailer masuk... shark sell. ok la bye bye.

need to observe this since Brent heading to 60 USD and above.

Now the field is open for AT to penetrate US Market. They can also use LKL to penetrate Europe and Asia. Good job AT.

pergh AT now can export to US Market giler la AT. Power.

let show them the power of retail investor combine power.

get ready for tomorrow for silver.

get ready for silver tomorrow.

cepat cepat siapa mau jual. jual la. apa tunggu lagi. hehehehe.

berapa lama lagi this new investor nak pump in duit belum cukup2 lagi ni before pushing up the price. what ever it is.. very good deal for the investor.

ATS (0072) - ATG Kamunting Facts Check

Good sharing by stockiss with video of the new land.

https://klse.i3investor.com/blogs/GlovesRally/2021-01-17-story-h1539383449-ATS_0072_ATG_Kamunting_Facts.jsp

Huge demand but shortage of supply. Imagine the price. :-)

Malaysian medical glove exports face more delays amid shipping container shortage

KUALA LUMPUR (Jan 15): Malaysia's medical glove makers face weeks of delays in delivering products to customers abroad due to a global shortage of shipping containers, hampering their ability to meet demand during the coronavirus crisis, industry officials said.

Supramaniam Shanmugam, president of the Malaysian Rubber Glove Manufacturers Association (MARGMA), told Reuters on Friday, the container shortage had eased after year-end festivities but the situation had yet to return to normal, with exports by glove makers still facing delays of two to five weeks.

Malaysia, the world's biggest producer of medical gloves, has been racing to meet skyrocketing demand due to the pandemic.

MARGMA said the lead time to deliver gloves to customers had increased by more than six months, even as manufacturers ramped up production to cope with new orders.

Industry officials say the situation could return to normal by the end of February, after previously estimating export delays could continue until March.

"There are more empty containers available now. However, there may not be enough vessel space and we need to manage this till February," Shanmugam said.

China saw a container crunch at the end of last year, sending cargo costs to record highs and hampering the ability of manufacturers to meet fast-recovering global goods orders.

The Malaysian National Shippers' Council said its members faced severe container shortages in the second half of last year and were still scrambling to secure space on vessels. It does not see the situation easing this quarter.

The shortage drove up freight rates by 300%-400%. The council's Chairman Andy Seo said higher rates were becoming the benchmark with exporters ready to pay a premium.

"Members have indicated that container booking requests get cancelled by the shipping lines at the very last minute, unless manufacturers were able to pay higher freight rates, he said.

https://www.theedgemarkets.com/article/malaysian-medical-glove-exports-face-more-delays-amid-shipping-container-shortage

Not only TP 3.00. Higher than that also can in 2022. This year i think TP 1.00 above reasonable.