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6721-6740 of 6935
Whilst refining margins are being squeezed, company is actively expanding/diversifying their ...vis a vis distribution of products in Guangdong and Indonesia and MOU with Pertamina and JV with SANTOS in Vietnam.
This is a good sign but will take time for results to filter down.
A/D Lines does not "tell" this counter very well. But Chaikin and Stochastic does quite accurately. There still a little upside according to these 2 indicators.
It has signed a MOU with Indonesia's state-run PT Pertamina to strengthen their cooperation in oil and gas exploration, development and production projects in Indonesia and elsewhere, SPC said.
"The MOU underscores SPC's strategy of building regional alliances and cooperation with the aim of creating sustainable growth and development across the oil and gas value chain," SPC chief executive Koh Ban Heng said in a written statement issued in Singapore.
Here, Pertamina upstream director Sukusen Soemarinda said his company was offering to let SPC operate the Besi Tang gas field in the western Indonesian province of North Sumatra.
"We will hold a joint study with SPC to develop Besi Tang gas field," he told reporters.
Separately, Pertamina president Ari Sumarmo said his company might also cooperate with SPC in exploiting its other fields, with SPC providing financial backup.
"They are prepared to invest at least about US$1 bln in the coming few years," he said.
He did not elaborate.
This one's on a downwards trend.
SPC signs MOU with PERTAMINA
The Board of Directors of Singapore Petroleum Company Limited ("SPC" and the "Company") is pleased to announce that the Company has signed a Memorandum of Understanding ("MOU") with PT PERTAMINA (PERSERO) ("PERTAMINA") today.
Building on the excellent long-standing relationship between SPC and PERTAMINA, the MOU aims to further strengthen the cooperation between the two companies in oil and gas exploration, development and production projects, both in Indonesia and internationally. The MOU also provides a platform for information sharing and exchanges between SPC and Pertamina.
The MOU signing ceremony in Jakarta, Indonesia, was witnessed by Mr Lim Hng Kiang, Minister of Trade and Industry for Singapore; Mr Purnomo Yusgiantoro, Minister of Energy and Mineral Resources for Indonesia and Mr Sugiharto, Minister for State-Owned Enterprises, Indonesia.
"This MOU underscores SPC's strategy of building regional alliances and cooperation with the aim of creating sustainable growth and development across the oil and gas value chain," said Mr Koh Ban Heng, Chief Executive Officer of SPC.
got to be careful, the storong support line is at 4.30.
once broken more down side to come.
once broken more down side to come.
oil company cut their petrol price by 5cts.
well..i think..buy low sell higher strategy cant b wrong applying to counter like SPC rite? hee....cheers to more $ !!
SPC will likely head south some more
if petrol price go down, SPC share price should also go south. May get worse b4 it gets better.
one year low soon, 4.36 on 14 & 15 Nov 05. Closed 4.48 today.
Siting on lower bollinger band on last 6 days.
William%R indicator oversold.
lg1167,
Buy/Sell or Hold are decisions you have to make yourself..
If you refer to my post of 25 Oct in this thread, I hope it can help assess your position.
SPC past 3-mth lowest at $4.48 on 22 Sep ; today lowest is $4.44
:-O ! ... AD & RSI showing downtrend signals......
Good luck to you but i seemed to follow the wrong advice from a very reliable source...go in @S$5.70....always think that petroleum stock is the safest and best bet!! Once bitten twice shyyyy, please advise should i hold or sell at a loss 21%.
hee...wondering Money God on my side or wat...seems to be true by shorting this wan...hee.....hope all earn abit of kopi $$$ :D
SPC up the lorrie liao
It plans to sell oil products in Indonesia in co-operation with two local firms, which would make it the fourth foreign company to enter the downstream sector, an Indonesian energy ministry official said on Wednesday.
"The government is processing the licence for SPC to operate in the downstream business in Indonesia. I think we will give them a licence in not too long a time," Erie Soedarmo, the ministry director, told reporters during the country's second major infrastructure meeting in Jakarta.
He said SPC planned to supply oil products to Indonesian firms PT Aneka Kimia Raya and PT Redeco and then sell the products to some industries.
"The Indonesian firms have storage. SPC will supply the products and then sell them in Indonesia," Soedarmo said.
He said SPC might supply around 10,000 tonnes of oil products a month to Indonesia if it gets a licence. He gave no other details.
In 2004, Indonesia opened up its domestic downstream oil business to foreign firms, including oil products retail, paving the way for them to directly import fuel and sell to local customers, after revoking state oil firm Pertamina's monopoly.
Royal Dutch Shell Plc and Malaysia's Petronas have several pump stations around Jakarta to retail high octane gasoline, while BP Plc supply oil products to some Indonesian companies.
Pertamina has estimated that Indonesia will consume around 62 million kilolitres (1.07 million bpd) of oil products in 2006, down 4.6% from 65 million kl last year.
Indonesia, Asia-Pacific only OPEC member, is struggling to cut a hefty oil subsidy bill inflated by high global prices, and wants to encourage alternative sources of energy.
Output from the country's ageing oilfields is declining at an annual rate of 5 percent or more, and new fields are not being tapped fast enough to offset this.
Indonesia has nine refineries with a combined capacity of around 1 million bpd, but they supply only about 70% of its domestic oil products consumption. The rest is imported. (1 kilolitre = 6.289 barrels)
wun advice shorting unless u r a pro..
hmm...tt's true...but seems like a downtrend in the general mkt...
wondering can short further? hee...
Signals mixed... hard to tell if downtrend is sustainable. There're indications of some buying taking place.