i  nOtice  there is  a   tonylim2

are  you  holding  two  accounts ? 

or  are  both  of  you   TWINS ?

CHEMOIL,  the HORSE, 

CIRCULARS  tO  YOU,  the SHAREHOLDERS 

iN  BLACK  &  WHITE

tO  ADVISE  "REJECT  THE  OFFER"

NO  FEAR

CHEMOIL,  the HORSE, 

CIRCULARS  tO  YOU,  the SHAREHOLDERS 

iN  BLACK  &  WHITE

tO  ADVISE  "REJECT  THE  OFFER"

NO  FEAR

mypaper  Thursday: 1st APRIL 2010

BETWEEN THE LINES
Oil prices find a sweet spot

HOUSTON

And there the price has stayed, more or less, since August, reaching a rough stability in the US$70 to US$83 range.

Economists and government officials say that if prices remain in that band, it could benefit the world economy, the future security of energy supplies and even the environment.

The price is high enough to drive

“It’s a sweet spot,” said Mr Kenneth Rogoff, a Harvard professor of international finance.  “It’s not too low that it’s crushing demand for

and fiscal crises in oil-exporting countries. And it’s not so high that it’s driving African countries deeper into poverty and threatening the recovery in the US and Europe.” Petrol prices have stabilised along with oil prices, with the average US price for a gallon of regular petrol ranging from US$2.50 to US$2.80 since June.

Oil prices have jumped somewhat this week, but they are still within the band they have occupied for months. Light, sweet Texas crude closed on Tuesday at US$82.37 a barrel.

Energy experts say that several far-flung global developments have converged to put supply and demand in relative equilibrium, at least for the time being.  Members of the Organisation of Petroleum Exporting Countries have remained fairly disciplined in complying with their announced production cuts.  Meanwhile, among non- Opec producers, growing oil output in Brazil, Russia and the Gulf of Mexico has counterbalanced production declines in the North Sea, Alaska, Venezuela and Mexico.

On the demand side, growing appetites for oil in China, India and other developing nations have been offset by declining demand in the United States and Europe, because of their slowing economies, conservation efforts and growing use of biofuels.  “The current price range provides a geopolitical benefit,” said Mr David Goldwyn, the US State Department coordinator for international energy affairs.

“With ample capacity in oil, and commercial inventories at five-year highs, markets are well positioned to absorb any potential supply disruption, even without resorting to strategic stocks.”  While the last four decades have been punctuated by various oil-price booms and busts stemming from oil embargoes, wars and recessions, periods of relative stability lasting months or years have been OIL prices have done something remarkable over the last half-year or so: They have barely budged.  Memories are still fresh of the chaotic climb to US$147 (S$206) a barrel only two summers ago, accompanied by petrol costing U$4.11 a gallon. The spike led to accusations from drivers and politicians that oil companies were price-gouging.  Then crude prices plummeted, along with the world economy, to around US$34 a barrel just over a year ago, only to double again in a matter of months as confidence began to recover.investment in future oil production and in supplies of alternative energy, they note, but low enough that consumers can bear it.renewable energy sources or causing debtcommonplace.  Not surprisingly, oil producers prefer stability to plan their investments. “The worst thing that happens in our industry is volatility,” said Mr G. Steven Farris, chairman and chief executive of Apache Corp. With prices stabilising, his company has increased its exploration and development budget by 50 per cent this year, to US$6 billion.  Meanwhile, many of the independent oil companies are pumping up their oil-exploration investment budgets as well.  “If we still had US$35 oil prices, you would not have seen us be nearly as active in the Gulf of Mexico,” Mr James Hackett, chairman and chief executive of Anadarko Petroleum, said in an interview. The biggest long-term threat to the new balance is growing consumption in China and other developing countries. But some analysts express hope that such countries can curb their oil-demand growth as they build power-transmission lines that will enable them to replace inefficient diesel generators with alternative power sources like gas and nuclear. “Demand will change; supply will change,” said Mr Christof Ruehl, chief economist of BP, the oil company.  “The world changes all the time.”   NYT
Oil prices find a sweet spot

BETWEEN THE LINES

Oil prices will jump almost 20 per cent this year, driven by demand  from China and emerging markets, according to UniCredit

http://www.forbes.com/global/2007/0903/044.html

Robert Chandran has changed citizenship twice en route to a fortune from a company that fuels the world's shipping industry.

DIE DIE MUST BUY

OR CAN    DIE if you miss the boat   

DON'T  BUY  

CAN    DIE     ?

I'll fOllOw U

PRiCE  will  SPiKE  on  Monday: 5th APRIL 2010

Back  to  USD0.620 ?

Independent Directors with Ernst & Young as the financial advisor strongly recommend Rejection of the Offer.  The pathetic offer price was accepted by the family of the late CEO due to trying circumstances. Glencore is really unscrupulous to take advantage of the poor widow.

My take is to buy now at .36 and wait for it to move above .60 after the offer lapses.

NEED  to  be  confirmed by SGX insider trading reporting  Over  the next  twO  wEEks.

to sEE  whether  GLENCORE  is  buying  from  market  Or nOt ?