SPC   

SPC

I have just bought some at $4.74 yesterday. I am not too sure with TA in the short term, but have confidence in mid term that this counter shd be trading at $5.30-$5.50. Hope I am right!

 

I unloaded ALL my SPC holdings at 4.76 yesterday.  I hope its a wise move as the trend is subsiding and the D+ on ADX enters strongly into the sub 20s.  Looking forward to the sub 4.40 days again. :p

 

Below is the Singapore petroleum product trading price with exception for crude oil which is price for US crude oil.

 

 

 

Date	Crude Oil	Regular Gasoline	Gasoline	Kerosene Type Jet Fuel	Residual Fuel Oil
Jan-06	65.49	159.32	165.07	182.54	114.22
Feb-06	61.63	156.08	156.03	177.8	120.71
Mar-06	62.69	166.19	171.88	179.86	124.19
Apr-06	69.44	193.47	197.75	201.11	128.98
May-06	70.84	209.16	201.02	203.96	128.64
Jun-06	70.95	198.34	204.83	205.31	121.49
Jul-06	74.41	203.85	205.69	208.45	128.17
Aug-06	73.04	193.63	205.51	212.6	121.45
Sep-06	63.8	157.7	180.92	192.02	106.07
Oct-06	58.89	148.62	169.46	176.15	105.95
Nov-06	59.08	149.83	166.69	175.58	100.54
Dec-06	61.96	161.47	166.16	184.23	102.7
Jan-07	54.51	147.21	157.59	165.99	100.3
Feb-07	59.28	160.73	168.15	170.85	109.21
Mar-07	60.44	182.83	174.92	178.79	114.03

 

hi, Livermore.. thanks for welcome...  yes I saw the artic ocean.. but it was a stretch of ice..  I wondered and tried looking for polar bears (no they are only in the north pole, south pole you get penquins) but it was a bright patch of white.. but I noted that there are streaks on the ocean where the ice is melting.. and then realised that indeed there is global warming and that the polar bears habitat would/may soon be gone and soon too, the polar bears..

hi Singaporegal.. you back from your Rendang cruise...?  May I recommend you after this to go the Celebrity alaskan cruise..

and Geojam actually on the contrary, I was off to US to hunt down a missing girl friend... to bring her back with me...

but I shall do my post now back at the fellowship string... see you there next.... but not immediately as I am a bit down and might be catching the local flu (which you all have caught and have recovered I hope)

 

Managed to gather some data and compiled the info below. A portion of this for your reference.

Quarterly	Crude Oil	Regular Gasoline	Gasoline	Kerosene Type Jet Fuel	Residual Fuel Oil	SPC Refining Margin
1Q06	63.27	160.53	164.33	180.07	119.71	$4.00
2Q06	70.41	200.32	201.20	203.46	126.37	$8.00
3Q06	70.42	185.06	197.37	204.36	118.56	$4.00

 

 

Hi Chinkiasu,

Wow the north pole! Hey do we see the polar bear at the north or south pole? *ha*

 

Hi chinkiasu,

Wow... that's so cool! You flew over the North Pole! Really envy you ....

 

Hi Chinkiasu

I tot u found an american g/f  and decide to 'elope'.

Nice to see u back.

 

yes sir, eastonbay... just back.. was rather jet lagged (18hrs flight this time over the northpole.. rather strange way to get back .. headed north from NY to Canada, then north of greenland and then to North Pole and down straight south via Russia, Mongolia, xian, Kunming Thailand,etc) & feeling rather off.. and actually did do a few sneaks and wanted to do a proper posting at the Fellowship.. later but was caught with a number of errands to do...  thanks for the warm welcome... much appreciated.. will post properly later...

 

you back? looks like a lot of people here are awaiting your returns, or returns to SJ, Fellowship thread to be exact(noted just that actually you've been posting all over the place like global voice, taising etc, threads that I don't read).

 

latest on US retail gasoline prices by Money News.com

Friday, May 4, 2007

 

another MoneyNews
Friday, May 4, 2007

Oil Prices Surge to $66 on Nigeria Risk

LONDON - Oil rose above $66 a barrel on Friday as a fresh supply disruption in Nigeria reminded investors of the risk to oil flows from the world's eighth largest exporter.

The 50,000 barrel-per-day Okono/Okpoho offshore oilfield has shut off production and halted exports after eight foreign workers were briefly abducted on Thursday, industry sources said on Friday.

"Nigeria remains a major risk to supply," said Kevin Norrish of Barclays Capital. "People have got a little bit complacent about Nigeria. Overall we'd say things do look rather fraught there still."

London Brent crude, seen now as more representative of global oil prices, was up 50 cents at $66.55 a barrel by 1501 GMT. U.S. crude rose 15 cents to $63.34.

Concern about Nigerian supply had eased on Thursday after Royal Dutch Shell said the Forcados oil export terminal might resume operations in June, more than a year after it was shut by militant attacks.

Even so, Shell declined to give a precise date for when production would be restored fully.

Brent has risen from a 2007 low of around $50 in January and hit a peak close to $70 in April. It has sat in a range of $65-$70 for the past month.

"There is nothing happening aggressively to push prices up or down at this juncture, but with Nigerian ... issues in the background, prices are still over $60 a barrel," said Gerard Rigby of Fuel First Consulting.

The shutdown at Okono/Okpoho, operated by Saipem and SBM Offshore, brings the production lost in Nigeria to around 652,000 bpd -- more than a fifth of capacity.

Field operators declare force majeure to protect themselves legally if they fear they cannot meet their contractual obligations to export oil due to circumstances outside their control.

Nigerian crude is particularly prized by refiners as it is easy to process into transport fuels.

Falling inventories of gasoline in the United States, the world's largest oil consumer, ahead of the summer driving season when demand for the motor fuel peaks also supported prices.

U.S. refiners, up against a series of technical problems, are struggling to meet demand and U.S. gasoline stocks have fallen for 12 weeks in a row.

 

 

© Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters.

 

oops typo error.. I meant "world refining capacity remains very tight"

 

Hi folks,

I remain vested in SPC and even considering getting more stock... why? I think this year refinery capacity around the work remains very tight.. particularly in the US where I have to pay around US$2.8 for gallon of petrol ( I remembered a few years ago it was around $1. Also I think the fire at ExxonMobil refinery in Jurong would mean again even tighter refining capacity for Asia at least until they resume ops..

anyway here is a review by Newsmax for the US scene:

Gas Prices Could Hit Record in May

MoneyNews
Wednesday, May 2, 2007

NEW YORK -- U.S. retail gasoline prices could hit an all-time high by the end of this month due to ongoing problems at the nation's oil refineries, automobile and travel group AAA said Wednesday.

Gasoline prices have surged 30 cents since early April to $2.97 a gallon on average, bringing them within a dime of the record struck after Hurricane Katrina shut down refineries along the Gulf Coast in 2005.

"The nationwide average price of self-serve regular will probably hit $3 per gallon in the next few days, and could possibly set a new all-time record high price before the end of the month," AAA said.

Gasoline stockpiles in the United States have dropped by 15 percent since early February amid an unusually high number of refinery outages, alongside robust demand and low imports.

AAA said it was "alarming" that gasoline prices were rising so high without the backdrop of a major geopolitical or natural event to disrupt supply, like a hurricane or a new military flare-up in the Middle East.

 

aieee...da gege! can you please go in something more dignified than wet market red plastic bags??! talk about cost-cutting measures. sheesh...and yah, morbid. enough already. haha.

yeps yeps. sit and hunt for more counters now. highly churning market tho. significant if you look at top actives. most closed unchanged, and most (all?) are pennies.

 

Elfie,

Hmmm, at your age, you are already planning way ahead into the future.

Yep, told my family not to even bother with a container for the ashes. Just double up a couple of those red plastic bags (incase it leaks) - those that you get when you buy things from the wet market - tie it up and bring it on board. ......ok...enough of this.

Anyway, I have divested my SPC.......now sit and wait.

 

hehe well, i kinda have mine all thought out already too. hehe. i wanna be turned into a reef ball and thrown into the waters off Hawaii. (there's this Florida company that puts your ashes into an artificial reef ball, for your loved ones to throw into the water so that you're eco-friendly, since you'll form part of the reef). Then i can have fishies and anemones and corals and turtles all day swimming around me. friends to play with. heehee.

the morbid part was more of the SC cruises, travelling free of charge. like, eep. i dun wanna be in next cabin man.....

haha.

 

Hi Elfie,

Morbid!? maybe....but, I'd like to think if it as 'being prepared'. 

 

Thanks Elf .

We are happy ppl at SPC.