Posted by bullmarket1628 > 2021-12-24 07:19 |

Post removed.Why?

Posted by koyokui > 2021-12-24 14:43 | Report Abuse

Velesto already rock bottom. Tecnical rebound

Posted by fightingdragons > 2021-12-27 23:54 | Report Abuse

Phase D wyckoff coming soon. Get your tickets before too late

Posted by bullmarket1628 > 2021-12-28 06:11 |

Post removed.Why?

Posted by Lewis Lee > 2021-12-28 15:29 | Report Abuse

https://www.theedgemarkets.com/article/petronas-says-positive-outlook-expected-next-three-years-oil-price-recovery-pandemic-sop

KUALA LUMPUR (Dec 28): Petroliam Nasional Bhd (Petronas) said on Tuesday (Dec 28) it expects a positive outlook for 2022 to 2024 for the national oil company on a recovery in crude oil prices, as well as relaxation of Covid-19 standard operating procedures (SOPs) and directives besides an increase in plug and abandonment projects for planned retirement of oil and gas wells.

Petronas said the information in its latest activity outlook report, which covers 2022 to 2024, is accounted for when a specific activity begins and not by contract award.

"The outlook for 2022 to 2024 is based on full-year utilisation. Actual numbers may vary based on campaign durations and/or optimisation, project deferment and cancellation, etc. Actual numbers are based on data as at October 2021.

"This report was developed based on currently available information from internal and external sources."

Petronas believes that the expectations of its management as reflected by such forward-looking statements are reasonable based on information currently available to it.

"The report provides information on activities within a three-year period from 2022 to 2024,” Petronas said.

According to the national oil company, as the world reopens and economic activities resume, the global economy is staging its most robust post-recession rebound with a speedy recovery seen across countries and sectors due to progress in vaccination against Covid-19.

Petronas said the pervasive roll-out of Covid-19 vaccines in 2021 provided support to the recovery of road transport fuel demand amid pent-up travelling demand.

"However, the aviation sector is only expected to return to pre-pandemic levels by 2024. The path towards sustained oil demand recovery remains fragile and uncertain due to the emergence of new Covid-19 variants that have triggered fresh waves of lockdowns.

"While most industry players are optimistic about the economic recovery, they still remain cautious. Thus, the smarter approach would be to strengthen efforts collectively and be ready to face oil price volatility,” Petronas said.

According to news reports, crude oil prices have risen around 50% this year to about US$80 (about RM334.68) a barrel, supported by recovering demand and supply cuts by the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+.

It was reported on Tuesday that Brent crude had risen seven cents, or 0.1%, to US$78.67 a barrel by 0115 GMT, while US West Texas Intermediate crude was up 18 cents, or 0.2%, to US$75.75 a barrel, Reuters reported.

Petronas, which sees crude oil prices at US$50 to US$60 a barrel between 2022 and 2024, said in the activity outlook report that the company remains prudent and will continue to adopt a lower-for-longer approach for its crude oil price expectations until the firm is confident that the current price uptrend is sustainable.

"Most industry analysts like research houses and banks publicly share this (US$50 to US$60 crude oil price) expectation. Companies may take a conservative approach in their assumptions.

"If oil prices recover for a sustainable period, we expect a higher number of greenfield and brownfield projects to become commercially viable, provided that we keep the cost at a competitive level. Thus, activities for the OGSE (oil and gas services and equipment) sector may increase accordingly,” Petronas added.

Posted by koyokui > 2021-12-29 09:08 | Report Abuse

Buy velesto. Also rebound sign

Posted by Micias84 > 2021-12-29 14:51 | Report Abuse

Buy Buy Buy...its the time

Posted by koyokui > 2021-12-31 09:15 | Report Abuse

Buy velesto today last day trading might have window dressing

Posted by Macgyver11 > 2021-12-31 17:40 | Report Abuse

No window dressing..

Posted by Macgyver11 > 2022-01-01 09:09 | Report Abuse

Happy new year 2022

Posted by Macgyver11 > 2022-01-01 09:12 | Report Abuse

https://amp.scmp.com/news/china/science/article/3161522/coronavirus-worst-stage-pandemic-may-end-2022-who-chief-says.

Dump all glove and health care stocks. Pile up O&G for 2022...Good prospect coming.

Posted by koyokui > 2022-01-03 10:19 | Report Abuse

Buy velesto good company

Posted by koyokui > 2022-01-03 10:19 | Report Abuse

.125 sell que already faded away. Time to rebound

Posted by Macgyver11 > 2022-01-03 13:55 | Report Abuse

KUALA LUMPUR (Jan 3): Maybank Investment Bank Bhd (Maybank IB) has maintained its positive stance on Malaysia’s oil and gas (O&G) sector, premised on steady Petronas activity outlook (PAO) for the year 2022 and an even steadier outlook in 2023 to 2024.

In a research note on Monday (Jan 3), it said the national oil company reported a mixed performance in terms of planned versus actual activities in 2021, but the latest PAO edition reflected a cautious, optimistic outlook for 2022 and improving positivity in 2023 to 2024, based on the level of activities planned.

The research house said offshore support vessels, hook-up and commissioning equipment and material (supply of line pipes) and underwater services segments had outperformed during the year.

On the other hand, offshore drilling, pipeline installation, decommissioning, offshore maintenance, construction and modification operations were the underperformers.

Meanwhile, the offshore fabrication, floaters (floating production storage and offloading, floating production storage and offloading), subsea structures, offshore installation and general facilities maintenance or plant turnaround operations met expectations, it said.

“In general, Petronas remained cautiously optimistic for 2022, with a relatively similar year-on-year expectation vis-à-vis 2021. It is however more positive in 2023-24.

“That said, we see Velesto Energy Bhd, Icon Offshore Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE), Wah Seong Corp Bhd and Dialog Group Bhd as key beneficiaries of Petronas’ domestic activities over the next three years.

“Segment-wise, Icon and Velesto remained the best proxies to its drilling programmes. MMHE, Wah Seong, Dialog are key beneficiaries of the fabrication, pipe-coating, maintenance works while Icon is a key feature for exposure to the OSV space,” said Maybank IB.

As for oil price, the research house said its estimates remained unchanged at US$75 (RM313)-US$80 per barrel (bbl) for 2022.

Should oil prices continue to be strong throughout 2022 and surpass the target, the bank said it does not rule out increased activities and capital expenditures (capex) from the second half onwards.

“That said, capital remains key, for the higher oil price has led to higher costs and greater volatility — a setback and a concern to a sustainable recovery in the market.

“Based on its five-year capex plan of RM200 billion to RM225 billion or an average of RM40 to RM45 billion per annum in 2021 to 2025, Petronas said 9% of the overall capex will be for its green energy agenda.

“Among its climate goals include a commitment to net-zero carbon emission by 2050 and zero routine flaring by 2030,” Maybank IB added.

Posted by bullmarket1628 > 2022-01-04 06:38 |

Post removed.Why?

Posted by koyokui > 2022-01-04 10:56 | Report Abuse

Buy today want to push

Posted by bullmarket1628 > 2022-01-04 14:42 | Report Abuse

Velesto quite high volume today...
Now already traded at=> 0.125 (+0.005) (+4.2 %)
!

Heng ah, Ong ah, Huat ah !

Posted by bullmarket1628 > 2022-01-05 06:18 |

Post removed.Why?

Posted by bullmarket1628 > 2022-01-05 06:48 | Report Abuse

Oil ends up at $80/bbl as OPEC+ sticks with Feb output hike
https://www.reuters.com/markets/commodities/oil-prices-steady-ahead-opec-output-policy-meeting-2022-01-04/
By Arathy Somasekhar 6.35am 5-1-2022

* Brent almost back to Nov levels before first Omicron reports OPEC+ decision reflects easing concern of oil surplus
* U.S. State Department says Iran talks show modest progress
* POLL-U.S. crude stockpiles seen lower for sixth straight week
* Coming Up: Weekly API inventory data due at 2130 GMT

Jan 4 (Reuters) - Global benchmark Brent crudejumped on Tuesday to $80 a barrel, its highest since November, as OPEC+ agreed to stick with its planned increase for February based on indications that the Omicron coronavirus variant would have only a mild impact on demand.

Brent futures settled up $1.02, or 1.3%, at $80 a barrel, almost back to the level they were at on Nov. 26 when reports of the new variant first appeared, sparking a more than 10% decline in prices on that day.
U.S. West Texas Intermediate (WTI) crude rose 91 cents, or 1.2%, to $76.99.

"The oil market is bullish today as a result of optimism sourced from today's monthly OPEC+ meeting, which is helping oil prices trade higher," said Rystad Energy's head of oil markets, Bjornar Tonhaugen.
OPEC+, comprising of the Organization of the Petroleum Exporting Countries and allies, agreed to stick to its planned increase of 400,000 barrels per day (bpd) in oil output in February.
Its decision reflects easing concerns over a big surplus in the first quarter, as well as a wish to provide consistent guidance to the market. Crude stockpiles in the United States, the world's top consumer, were forecast to have dropped for a sixth consecutive week, analysts polled by Reuters estimated ahead of weekly industry data due at 4:30 p.m. EST (2130 GMT), followed by the government's report on Wednesday.
The White House welcomed the decision by OPEC+ to continue increases in production which will help facilitate economic recovery, a spokesperson said.
"It appears that the market is making the bet that Omicron is the beginning of the end of COVID-19," said Scott Shelton, an energy specialist at United ICAP.
In Britain, people being hospitalised with COVID-19 were generally showing less severe symptoms than previously.
While in France, the finance minister said some sectors were being disrupted by the surge of the fast-spreading Omicron variant, but there was no risk of it "paralysing" the economy and stuck to a forecast of 4% GDP growth in 2022.
Global manufacturing activity remained strong in December, suggesting Omicron's impact on output had been subdued.
However, analysts warned OPEC+ may have to change tack if tension between the West and Russia over Ukraine flares up and hits fuel supplies, or if Iran's nuclear talks with major powers make progress, which would lead to an end to oil sanctions on Tehran.
"We think these two events represent major wildcards that could quickly alter the price trajectory and test OPEC's rapid response mechanism," RBC analysts said in a note.
The U.S. State Department said talks with Iran have shown modest progress and that United States hopes to build on that this week.
Libyan output is likely to be about 500,000-600,000 bpd lower in the coming weeks, more than offseting the planned monthly increase in OPEC+ production, chief commodities economist at Capital Economics Caroline Bain said.

Libya's state oil firm said on Saturday oil output would be reduced by 200,000 bpd for a week due to maintenance on a main pipeline, adding to disruptions two weeks ago after militia blocked operations at the Sharara and Wafa oilfields.
However, Bain said Capital Economics remained of the view that as OPEC+ continues to raise production in the coming months and demand growth normalises, oil prices will come under downward pressure. Capital Economics' year end-2022 forecast for Brent crude is just $60 per barrel.

Posted by koyokui > 2022-01-06 15:14 | Report Abuse

Qued at .12. Hope for the best

Posted by Macgyver11 > 2022-01-06 21:27 | Report Abuse

Brent 82 ready..come on Velesto

Posted by bullmarket1628 > 2022-01-07 07:02 |

Post removed.Why?

Posted by bullmarket1628 > 2022-01-07 07:43 | Report Abuse

Oil extends rally on Kazakhstan unrest and Libyan outages 6.35am 5-1-2022
By Jessica Resnick-ault

https://www.reuters.com/markets/europe/oil-falls-one-month-high-opec-supply-plans-us-fuel-inventory-surge-2022-01-06/
* Russia moves paratroopers into Kazakhstan to quell uprising
* Libyan oil output down to 729,000 bpd, NOC says
* Market shrugs off U.S. fuel stock surge, OPEC+ output hike

NEW YORK, Jan 6 (Reuters) - Oil prices rose about 2% on Thursday, extending their new year's rally, on escalating unrest in OPEC+ oil producer Kazakhstan and supply outages in Libya.
Brent crude futures rose $1.19 cents, or 1.5%, to settle at $81.99 a barrel, after hitting their highest since late November. U.S. West Texas Intermediate (WTI) crude gained $1.61, or 2.1%, to $79.46. The contract touched a session high of $80.24.

Russia sent paratroopers into Kazakhstan to help quell a countrywide uprising after deadly violence spread across the tightly controlled former Soviet state.
There were no indications that oil production in Kazakhstan has been affected so far. The country produces about 1.6 million barrels of oil per day.
Meanwhile in Libya, oil output was at 729,000 barrels per day, the National Oil Corp said, down from a high of more than 1.3 million bpd last year, owing to maintenance and oilfield shutdowns.
Global benchmark Brent's six-month backwardation stood at about $4 a barrel, its widest since late November. Backwardation is a market structure where current prices trade at a premium to future prices and is usually a sign of a bullish market.
Prices have rallied since the start of the year despite OPEC+ sticking to an agreed output target rise and a surge in U.S. fuel stockpiles.
"OPEC production, while it did increase, disappointed the market - it is not going to be enough to keep up with demand," said Phil Flynn, an analyst at Price Futures Group in Chicago.
OPEC+, a group that includes members of the Organization of the Petroleum Exporting Countries, Russia and other producers, agreed on Tuesday to add another 400,000 bpd of supply in February, as it has done each month since August as it gradually relaxes 2020's cuts as demand recovers from the pandemic.
However, the increase in OPEC's output in December has again undershot the rise planned under the OPEC+ deal, a Reuters survey found on Thursday, highlighting capacity constraints.
JP Morgan forecast Brent to average at $88 a barrel in 2022, up from $70 last year.
"Our reference case now assumes the alliance will fully phase out the remaining 2.96 million bpd of oil production cuts by September 2022," the bank's analysts said in a note.
Government data on Wednesday showed that U.S. gasoline inventories surged by more than 10 million barrels last week, the biggest weekly build since April 2020, as supplies backed up at refineries because of reduced fuel demand.
Crude inventories in the United States, the world's top consumer, have fallen for six consecutive weeks by the end of the year to 417.9 million barrels, their lowest since September, the data showed.
U.S. crude futures suggest supplies will remain tight early in the new year. A barrel of oil for delivery in June is selling at a $4.10 premium to a barrel for delivery in December, the highest since Nov. 2, a signal of near-term rising demand.
Meanwhile, the world's top oil exporter, Saudi Arabia, cut the official selling price for all grades of crude it sells to Asia in February by at least $1 a barrel, three sources with knowledge of the matter said.

Posted by koyokui > 2022-01-07 09:26 | Report Abuse

Buy velesto oil 80usd per barrel

Posted by hafizisolehah88 > 2022-01-07 20:50 | Report Abuse

relaku menunggumu,,, seribu tahun lama lagi,,,,, hahhahahahaha

Posted by nasrulfahmi > 2022-01-10 14:55 | Report Abuse

bagus

Posted by Macgyver11 > 2022-01-10 16:05 | Report Abuse

Buy buy buy 0.13c already

Posted by hafizisolehah88 > 2022-01-10 18:01 | Report Abuse

bagusss

Posted by nasrulfahmi > 2022-01-11 10:26 | Report Abuse

sudah mau pecah 13 sen

Posted by Maxireturn > 2022-01-11 12:48 | Report Abuse

TP 20sen

Posted by Macgyver11 > 2022-01-11 17:05 | Report Abuse

Sharks is buying, opportunities to grab now

Posted by bullmarket1628 > 2022-01-12 06:19 |

Post removed.Why?

Posted by bullmarket1628 > 2022-01-12 10:25 | Report Abuse

Yes, Velesto touched 13.5 cents already !
Big Angpow mari mari come !

Heng ah, Ong ah, Huat ah !

Posted by Micias84 > 2022-01-12 12:30 | Report Abuse

Angpow mali...sapa mau

Posted by Expertise > 2022-01-12 12:47 | Report Abuse

25cents ang pow lai….wait too long

Posted by Izzyy > 2022-01-12 16:26 | Report Abuse

30sen

Posted by xiaogumin88 > 2022-01-12 17:37 | Report Abuse

ang pow lai lo wei

Posted by nasrulfahmi > 2022-01-12 22:13 | Report Abuse

walaweeeiiiii

Posted by hafizisolehah88 > 2022-01-13 01:14 | Report Abuse

walaweiiii

Posted by bullmarket1628 > 2022-01-13 06:21 |

Post removed.Why?

Posted by bullmarket1628 > 2022-01-13 07:33 | Report Abuse

Oil rally to continue in 2022 as demand outstrips supply, analysts say
https://www.reuters.com/business/energy/oil-prices-could-hit-100-demand-outstrips-supply-analysts-say-2022-01-12/
By Bozorgmehr Sharafedin 6.00am 13-1-2022
* Oil prices rose 50% in 2021
* JPM expects oil prices to "overshoot" to $125 this year
* Some OPEC producers are struggling to raise supply
* OPEC doesn't want oil at $100 - Omani oil minister

LONDON, Jan 12 (Reuters) - Oil prices that rallied 50% in 2021 will power further ahead this year, some analysts predict, saying a lack of production capacity and limited investment in the sector could lift crude to $90 or even above $100 a barrel.
Though the Omicron coronavirus variant has pushed COVID-19 cases far above peaks hit last year, analysts say oil prices will be supported by the reluctance of many governments to restore the strict restrictions that hammered the global economy when the pandemic took hold in 2020.
Brent crude futures traded near $85 on Wednesday, hitting two-month highs.
"Assuming China doesn't suffer a sharp slowdown, that Omicron actually becomes Omi-gone, and with OPEC+’s ability to raise production clearly limited, I see no reason why Brent crude cannot move towards $100 in Q1, possibly sooner," said Jeffrey Halley, senior market analyst at OANDA.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, are gradually relaxing the output cuts implemented when demand collapsed in 2020.
However, many smaller producers can't raise supply and others have been wary of pumping too much oil in case of renewed COVID-19 setbacks.

Morgan Stanley predicts that Brent crude will hit $90 a barrel in the third quarter of this year.
With the prospect of depleting crude inventories and low spare capacity by the second half of 2022, and limited investments in the oil and gas sector, the market will have little margin of safety, the bank said.
JPMorgan analysts said in a note on Wednesday that they could see oil prices rising by up to $30 after the Energy Information Administration (EIA) and Bloomberg lowered OPEC capacity estimates for 2022 by 0.8 million barrels per day (bpd) and 1.2 million bpd respectively.

However, the bank added that it also expects oil prices to "overshoot" to $125 a barrel this year, and $150 in 2023.
Rystad Energy's senior vice-president of analysis Claudio Galimberti said if OPEC was disciplined and wanted to keep the market tight, it could boost prices to $100.
However, he said he did not consider this a likely scenario and while oil could "momentarily" reach above $90 this year, downward pressure on prices would come from production increases in Canada, Norway, Brazil and Guyana.
Omani Oil Minister Mohammed Al Rumhi also said on Tuesday that the group doesn't want to see $100 barrels of oil.
"The world is not ready for that," Al Rumhi was quoted as saying by Bloomberg.
High oil prices, which also drive up gasoline and diesel prices, could keep inflation uncomfortably high well into 2022 amid snarled global supply chains, slowing the economic recovery from the pandemic in many countries.
Standard Chartered, meanwhile, has raised its 2022 Brent forecast by $8 to $75 a barrel and its 2023 Brent forecast by $17 to $77.
In a Reuters poll in late December, 35 economists and analysts forecast Brent would average $73.57 a barrel in 2022, about 2% lower than $75.33 consensus in November. The forecast shows the average price for the year, not the peak.
Brent prices have not touched $90 and $100 since 2014, when they were retreating from a high above $115 to as low as $57 by the end of the year.

Posted by Macgyver11 > 2022-01-13 09:13 | Report Abuse

Buy buy while you can. Don't chase high

Posted by nasrulfahmi > 2022-01-13 09:17 | Report Abuse

inikalilah

Posted by bullmarket1628 > 2022-01-14 16:47 | Report Abuse

Brent oil suddenly spike up to around $86 up around $1 because the war in Ukraine has been started.
Ho Sei Liao lah this round !

Heng ah , Ong ah, Huat ah !

Posted by bullmarket1628 > 2022-01-15 07:17 |

Post removed.Why?

Posted by TakeProfits > 2022-01-17 12:05 | Report Abuse

Limit down....lousy stock useless stock...

Posted by Team01 > 2022-01-17 15:34 | Report Abuse

Let’s keep it first don’t sell and help this counter achieve it’s Target price 0.18 Or more 0.20

Posted by bullmarket1628 > 2022-01-18 07:03 |

Post removed.Why?

Posted by Macgyver11 > 2022-01-18 15:00 | Report Abuse

Wow! Brent 87...fantastic man. 90 on the way

Posted by Expertise > 2022-01-18 16:29 | Report Abuse

Super bullish 88 now ,200coming when WHO announce end of pandemic