Heard on radio that Exxon Mobile will be shutting down their 309 bbl/day refinery for maintenance.....from April?? (not sure of start date) till mid June.
This will have a short term impact on refining margins.
this news shld add some supp to this roller-costal counter :P
Mar 5, 9:39 PM EST
China considering building strategic oil reserve in northwest
BEIJING (AP) -- China plans to build a second strategic oil reserve in its northwest as it fills the tanks of its first reserve along the east coast, a news report said Tuesday.
China is constructing oil reserves to insulate its economy from possible disruptions in foreign supplies. The United States also operates a similar reserve.
Gansu province in the northwest has been tentatively selected as the site of China's new reserve, said the newspaper China Petrochemical News, published by state-owned China Petroleum and Chemical Corp.
China's first oil reserve was built last year in four sites along the east coast in the provinces of Liaoning in the north, Shandong on the east coast and Zhejiang in the southeast.
The second reserve is to have a total storage capacity of 196 million barrels.
iPunter, I am giving a little bit realistic target for SPC mah..., if SPC drop to 4.06 with crude oil USD 59.55 a barrel (right now), that means, if somehow crude oil drop to USD 51.00 again, SPC will be 3.6 liao la.. walau... not that "shui" for SPC gua..
with DOW closing today, no comments given, it can be red or green for STI, hard to say... but, my take will be RED again, becasue as you can see at 11 am, DOW starts to drain down again, so sad..
perhaps so.. giantlow... I saw the CNBC programme about mad money and they recommended 20% to be placed on speculation for risk taking etc... however, I think now I should stick to being kiasu.....
anyway I did bought some mother shares below 4.40 so let me watch the move upwards which I think is inevitable... question is when..... once bitten twice shy..... scrutinise every counter more carefully.......
yes Giantlow, our warrants are worthless.... my consolation is that we cannot predict the NYSE technical glitch to follow the Shanghai crash of 8% ... it has taught me a lesson.. no more warrant play...
but life moves on....
i will try harder to get back this loss from other FA trades, particularly taking advantage of the oversold positions... I believe the time is for FA play... I think SPC will now bounce to 4.70 at least perhaps next week end.. the temptation is for me to pick up the other warrant that livermore is playing.. but no thanks...
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scrutinise every counter more carefully.......
but life moves on....
