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From a report I read, we could be headed for a major oil crisis. Apparently major oil companies are buying back most their company shares rather than exploring for more oil. IEA reports that the world will have to spend $20 trillion to meet surging energy demand and that an abrupt escalation of oil prices after 2015 as a result of global supply crisis cannot be ruled out.
Earlier in 2007, the world's top oil investment banker and former energy advisor to Bush, told a stunned Bloomberg audience that oil could reach US$300 a barrel.
There is really no more easy oil to be found and it's all gone or has already been discovered. The oil industry isn't finding enough crude oil fast enough to keep up with the world's demand. In the last 5 years, we consumed 27 billion barrels of oil a year but the industry discovered only 3 billion barrels a year.In the next 23 years, global oil consumpion will increase by 33 million barrels per day.
One of the warrant is going to be "in the money soon"
Hi Mike8057d,
What I meant is if you think there is not much money to be made from refining business.
careful guys, i scare after the announcement date of the dividends, it may fall as BBs may sell off their shares due to the high expectations of dividends returns on this counter by many retail investors. As the jump these few days are quite high.
Just 2 cents worth
btw what is spc announcing on 30jan? how much dividend they going to give tis year?
hi. newcomer here. care to explain the huge dividend pay out as described by many? greatly appreciated.
quote: "35 cents and 20 cents of divedends"
does it mean that i make $350 and $200 respectively for every lot of share i have?
SPC is all the while my favourite counter due its high dividend pay out. I missed it last Fri but today, I couldn't wait anymore. Die die supported it at 5.83 in the am and 5.78 and 5.70 in the afternoon. If DJ didn't make U turn tonite, then hope to get kopi money early morning tomorrow. If there is U turn tonite then will get bigger CNY Ang Bou on 30 Jan 08 once SPC had made the announcement.
Lets hope for the best. Cheers and best regards.
refining is a process of turning crude oil into useable products i.e. diesel, petrol.....
Hope to get it at Sub $5~! haha
I have no doubt about SPC's current price now is a good buy. But due to the mkt sentiment, if DOW is not making a U-turn soon, we should be able to get SPC cheaper in the coming days. Hence I am staying sideline for now, I hope not too long! Cheers.
Last yr SPC paid 35 cents and 20 cents of divedends in May and Nov respectively. Last Fri SPC climbed from low of 5.37 to 5.69 dollars. I missed the intraday low of 5.40. However, the dividend pay out on SPC still attractive. Last night DJ dropped 171.44. Euro market also suffered Red.
Tomorrow ST will plunge, how far, look at the screen and deal accordingly. You may make some kopi $$$$$. Cheers.
wah.. feel like buying a few counters to keep for dividend now leh...
"If SPC only in refining business, then the profit margin is not good". What do you mean?
If SPC only in refining business, then the profit margin is not good.
it will not help to lift SPC as crude oil will further decline owing to poor US economy and threaten recession.
agreed ! Let's wait for their dividend announcement first, (around March time?) then, we consider the percentage of dividends, I still remember last year dividend really save my ass, ha ha..
SPC dropping since 14 Jan 08, fr 7.30 till 5.37 24 Jan 08. It only rebound 23 Jan 08 of 14 cents.
DJ now up 50 pts, it will not help to lift SPC as crude oil will further decline owing to poor US economy and threaten recession.
It may not go down to 4.88 25 Jan 08 but it may hit below $5 either on next Mon or Tue before it announce its coy result on 30 Jan 08. You may make some copi money on 30 Jan 08 on contra if buying in either next Mon or Tue, but must look at the market trend. Best DJ drop on 25 nite. Not a good advice to hold on the stock till May 08 under this volatile market. Got some money to spend must be happy already. Cheers.
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BT
January 24, 2008, 6.04 pm (Singapore time) 
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SRC to shut CDU in Q2: source
SINGAPORE - A 135,000 barrels per day (bpd) crude unit at the Singapore Refining Co (SRC) plant will be shut down for two-weeks in the second quarter to upgrade related facilities, an industry source said on Thursday.
But a company spokesperson said the refinery is keeping crude processing rates at its full 290,000-bpd capacity at present.
'Currently, there are no plans to reduce the run rates of SRC,' said the spokesperson, who declined to comment on the maintenance programme.
The source familiar with operations at the refinery said the crude distillation unit (CDU) will be shut for two weeks sometime during the April-June period for upgrades to make cleaner fuel.
'The secondary units will also be shut for minor maintenance,' said the source who declined to be named.
He added that crude runs will be at full rates even for February, unlike several Northeast Asian refiners who are cutting runs in the face of weaker margins from year-ago levels.
'The margins are still positive,' said the source, referring to complex margins.
Complex refiners in Asia processing Dubai crude yielded a profit of US$6.59 a barrel on Thursday, up from an average of US$5.85 in the last five days but down from the average of US$7.60 a year ago.
Margins for simple Asian refiners topping Dubai crude ticked higher at minus 9 cents a barrel, from an average loss of 62 cents in the past five days but lower than the average of US$1.62 a year earlier.
SRC has invested US$81 million to revamp its hydrodesulphuriser and upon completion in early 2009, the refinery, a joint venture between Singapore Petroleum Co and US major Chevron Corp, will be able to produce diesel that meets Euro-IV specifications.
The refinery last had a major maintenance on its 90,000-bpd crude unit in May last year. Its smallest 60,000-bpd crude unit was closed in September 2006 for upgrading works in the related residual fluid catalytic cracker. -- REUTERS
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agreed, but the movement of SPC price from 4.10 low (while the oil price was USD 48) zoom up to USD 90 with SPC was 8.00... that is a fact.
However, people understood oil price of USD 100 was not realistic , pureply a play by BB... that's why SPC did not go up anymore.
anyway, I wish to collect at 4.88 too, not to forget their dividend pay in May is Damn huge.. still got a long way to go.. can wait ~
Correlating the share price to crude oil price is incorrect
With Oil Price of USD 87.98 , SPC surely not worth only S$5.38... if not mistaken, that's the price while the oil price was USD 65-70.
