Post Reply
5181-5200 of 6935
SPC was the 'Flavour of the Month' from 2004 to late 2006.........people got tired of the taste. Its taking a break. But, I think there will be some interest before xd on 27 Apr 07.
Also, it'll be interesting to see 2Q 07 results...the impact of the Oyang field coming onstream.
yes giant,agree with u.
SPC cannot lari kuat,kaut.
SPC = Snail Paced Counter???
Thanks Shplayer. Look like have to hold it longer
alexpenel,
Doubt it will have any significant immediate effect.
Hope the news can help to rally this counter. Had been holding 2 lots for abt a mth liao.
Wednesday February 21, 8:06 AM Reuters
Singapore Petroleum in Austrlian Basin venture
SINGAPORE, Feb 21 (Reuters) - Oil and gas refining and marketing firm Singapore Petroleum Co. Ltd. (SPC> said on Wednesday it has entered its first oil and gas exploration joint venture in Australia.
A company statement said it been awarded a new exploration permit for Block T06-3 in the Bass Basin in Australia together with its joint venture partners Tap Oil Ltd and Jubliant Energy Ltd.
SPC, 49-percent owned by Keppel Corp , said it would undertake seismic acquisition and drilling of two exploration wells as part of the initial work programme.
"This is our first joint venture in the oil and gas exploration in an Australian Basin, a strategic move towards expanding our exploration and production footprint outside of Southeast Asia," said SPC's CEO Koh Ban Heng in the statement.
Singapore Petroleum in Austrlian Basin venture
SINGAPORE, Feb 21 (Reuters) - Oil and gas refining and marketing firm Singapore Petroleum Co. Ltd. (SPC> said on Wednesday it has entered its first oil and gas exploration joint venture in Australia.
A company statement said it been awarded a new exploration permit for Block T06-3 in the Bass Basin in Australia together with its joint venture partners Tap Oil Ltd and Jubliant Energy Ltd.
SPC, 49-percent owned by Keppel Corp , said it would undertake seismic acquisition and drilling of two exploration wells as part of the initial work programme.
"This is our first joint venture in the oil and gas exploration in an Australian Basin, a strategic move towards expanding our exploration and production footprint outside of Southeast Asia," said SPC's CEO Koh Ban Heng in the statement.
[15:29 US TECHS: Commodities Outlook; Gold and Oil] Boston, February 20. Rising channels in [gold] in place since late January remain intact despite today"s weakness. Channel supports are in the low $660s area, basis Apr. Daily trend models are very likely to turn neutral today from bullish, and bullish weekly trends need to close at or above $664 at week"s end to maintain that status. Momentum remains a continuing concern, with MACD turning down today and RSI breaking a rising trendline. As noted last week, the reaching of mid-July highs marked a natural stall point to test the market"s bullish bias. Weekly resistance was barely entered in the $677.00-679.50 band at the highs before prices reversed. Bulls hold a longer-term edge but potential for greater corrective action in the short run is strong.
Front month Apr [oil] has nearly identically matched last Friday"s range but is at the low end compared to the prior strong close. There has been no break of recent range, and ADX, a trend indicator, is still well above Dec 22 floors that ushered in a potent bearish break greatly in excess of $10/barrel. Trend Intensity, IFR's proprietary trend indicator does show the market is quite ready to be triggered into a new trend on any follow-through move. Weekly models hold a weak bullish trend, while monthlies hold a maturing bear trend that still exerts considerable force. Having perfectly tested 62% retracements of range since December at February 9 highs, expectations still lean strongly towards lower prices, with measured retracements at $55.50-56.50 Apr for starters. Joel.Marver@thomson.com
Front month Apr [oil] has nearly identically matched last Friday"s range but is at the low end compared to the prior strong close. There has been no break of recent range, and ADX, a trend indicator, is still well above Dec 22 floors that ushered in a potent bearish break greatly in excess of $10/barrel. Trend Intensity, IFR's proprietary trend indicator does show the market is quite ready to be triggered into a new trend on any follow-through move. Weekly models hold a weak bullish trend, while monthlies hold a maturing bear trend that still exerts considerable force. Having perfectly tested 62% retracements of range since December at February 9 highs, expectations still lean strongly towards lower prices, with measured retracements at $55.50-56.50 Apr for starters. Joel.Marver@thomson.com
Aiyoh, aim for the star but be content with the ski mah. :)
I am looking at the previous major physiological support/resistance which on the chart is reflected at 4.60.
i still say that SPC needs to stay above 4.48 consistantly to establish a firm uptrend.
a bit too early to look at 4.60 bah, KiLrOy
I am seeing from the chart that the worst might be over for now. Again ADX shows sign of trend reversal. Last traing session touched 4.50 but ended of at a disappointing close of 4.44. Nonetheless, its low is higher than the previous session. Our next hurdle is 4.60. If you still trading momemtum, 4.36 is the support.
if u pple like oil counters, perhaps it would be better to take a look at KS energy instead. yum seng
cheers man, idesa168
last year, the Year of the Dog not halal lah.
Giantlow, Gong Xi Fa Cai! Hope you may big big this PIG year.
Oil is always associated with Middle East and they are muslim. Don't know this year, Golden PIG is Halal or not and will it have any significant to this industry! If yes, I will run road when the mkt opens!
gong xi fa cai, uncle geojam
wishing u lotsa happiness and abundant blessings for the years ahead
yum seng,
your friendly giantlow
Hi giantlow
I tot i can catch u in this thread
Have a happy CNY and do not forget me in ur loh hei.
Also happy CNY to all forumers.
long gestation period is no good leh. later like the other "oil field" which they dig but got no oil. need to write off huge costs of exploration and drilling.
victorian has given the long term TA view of SPC. Perhaps I may add my FA view.
Post 2004 SPC is a different animal from the SPC of the past.
- In 2004, SPC, together with Caltex, bought over the 1/3 share of SRC (Spore Refining Co) capacity...effectively increasing its (SPC) capacity by 50%.
- SPC acquired all the BP petrol stations thereby increasing its retail outlets from 3-4 outlets to 30+ outlets.
- SPC, together with Caltex, took over BP's LPG distribution business (this is little publicised)
- Since 2004, SPC was more active in developing its upstream business. Oyang field coming onstream 2Q 2007. Other possibilities, albeit longer term fruition, include Vietnam, Jeruk field in Indo, recent tie up with Pertamina (Indo National oil Co.)
Agreed, currently, the main factor on SPC's profitability is the refining margins, but it will be diluted when its upstream business is more developed......but this is a business with long gestation period.
Saturday February 17, 4:22 AM
NEW YORK, Feb 16 (Reuters) - Oil jumped more than 2 percent on Friday to above $59 a barrel after the United States warned that Nigerian militants are planning to expand attacks in Africa's top oil producer.
U.S. crude settled $1.40 higher at $59.39 a barrel, reversing earlier losses caused by milder U.S. weather. London Brent crude for April rose $1.35 to $58.95 a barrel.
The warning from the U.S. consulate gave no details on where the next attacks could occur, but said they could include expatriate workers. [ID:nL16236136]
"The recent strength may be related to Nigeria, but prices could weaken by the close in view of the likely warmer weather," said Christopher Bellew, a broker at Bache Financial in London.
Violence by militants and criminal groups has escalated in the Niger Delta over the past year, and kidnappings of foreign workers have become an almost weekly occurrence in the main delta city of Port Harcourt.
Seven foreign nationals are being held and Nigerian oil production is still down by a fifth since a series of militant attacks on Western oil facilities last February.
Besides the warning on Nigeria, support for prices also came from outages at refineries in North America and covering of short positions before the three-day U.S. weekend.
A fire at the crude distillation unit at Imperial Oil Ltd.'s 118,000 barrel per day (bpd) refinery in Nanticoke, cut output, although the amount of lost output was not known yet.
Floor trading on NYMEX will be shut on Monday for the Presidents Day holiday. Electronic trade will be open.
Oil dipped earlier on Friday as some investors focused on forecasts for coming milder weather in the United States, the world's top energy consumer, that would curb heating demand.
Even a return to icy weather would give prices only a limited boost before the arrival of spring, when fuel demand eases, analysts said.
"The bottom line is, whether it's sooner or later, we are not very far away from losing price support from the weather," said Mike Wittner of investment bank Calyon in London.
Oil sank to a 20-month low of $49.90 on Jan. 18 as mild weather curbed heating oil demand in the United States. Prices recovered to $60 when the winter turned cold this month.
The National Weather Service eight-to-14-day forecast on Wednesday called for above-normal temperatures for most of the eastern half of the United States, prompting expectations among some traders that the worst of winter may be past.
Prices slipped earlier this week after the latest report on U.S. fuel supplies showed inventories of distillates, which include heating oil, fell by a less-than-expected 3 million barrels last week. [EIA/S] (Reporting by Yaw Yan Chong in Singapore, Alex Lawler in London, and Matthew Robinson in New York)
Oil jumps above $59 on US Nigeria warning
By Matthew RobinsonNEW YORK, Feb 16 (Reuters) - Oil jumped more than 2 percent on Friday to above $59 a barrel after the United States warned that Nigerian militants are planning to expand attacks in Africa's top oil producer.
U.S. crude settled $1.40 higher at $59.39 a barrel, reversing earlier losses caused by milder U.S. weather. London Brent crude for April rose $1.35 to $58.95 a barrel.
The warning from the U.S. consulate gave no details on where the next attacks could occur, but said they could include expatriate workers. [ID:nL16236136]
"The recent strength may be related to Nigeria, but prices could weaken by the close in view of the likely warmer weather," said Christopher Bellew, a broker at Bache Financial in London.
Violence by militants and criminal groups has escalated in the Niger Delta over the past year, and kidnappings of foreign workers have become an almost weekly occurrence in the main delta city of Port Harcourt.
Seven foreign nationals are being held and Nigerian oil production is still down by a fifth since a series of militant attacks on Western oil facilities last February.
Besides the warning on Nigeria, support for prices also came from outages at refineries in North America and covering of short positions before the three-day U.S. weekend.
A fire at the crude distillation unit at Imperial Oil Ltd.'s 118,000 barrel per day (bpd) refinery in Nanticoke, cut output, although the amount of lost output was not known yet.
Floor trading on NYMEX will be shut on Monday for the Presidents Day holiday. Electronic trade will be open.
Oil dipped earlier on Friday as some investors focused on forecasts for coming milder weather in the United States, the world's top energy consumer, that would curb heating demand.
Even a return to icy weather would give prices only a limited boost before the arrival of spring, when fuel demand eases, analysts said.
"The bottom line is, whether it's sooner or later, we are not very far away from losing price support from the weather," said Mike Wittner of investment bank Calyon in London.
Oil sank to a 20-month low of $49.90 on Jan. 18 as mild weather curbed heating oil demand in the United States. Prices recovered to $60 when the winter turned cold this month.
The National Weather Service eight-to-14-day forecast on Wednesday called for above-normal temperatures for most of the eastern half of the United States, prompting expectations among some traders that the worst of winter may be past.
Prices slipped earlier this week after the latest report on U.S. fuel supplies showed inventories of distillates, which include heating oil, fell by a less-than-expected 3 million barrels last week. [EIA/S] (Reporting by Yaw Yan Chong in Singapore, Alex Lawler in London, and Matthew Robinson in New York)
increase in oil prices have continuously shown no effect on SPC prices.
what we need its institutional interest in SPC to propel the prices up.
what we need its institutional interest in SPC to propel the prices up.