Post Reply
6801-6820 of 6935
Hi YongJiu, it is good that you let go and make a bit of kopi $$$. If a big company like BP is having its refining margins eroded, then SPC will also be affected! You can wait for it to go down somemore first.I am not vested yet! Today could see people dumping oil stocks for tech stocks!
Hi chipchip66,
are you vested? what do you think abt SPC with the current price..
last week I manage to tikam some at 4.52 then let go some small profit...
aft a short momoent of up-gear now it going down-gear again.
are you vested? what do you think abt SPC with the current price..
last week I manage to tikam some at 4.52 then let go some small profit...
aft a short momoent of up-gear now it going down-gear again.
Prices of oil and gas levelled off over the period with dated Brent averaging just 1 cent a barrel more than in the second quarter at $69.60 a barrel. The average for sweet US crude slipped 2 cents and both US and UK gas prices were lower than three months ago.
However, it is downstream at the refining and marketing part of the group where third quarter earnings will be most squeezed. Oil companies have benefitted over recent quarters from both high upstream prices and strong refining margins, a relatively unusual set of circumstances. Now, refining margins have fallen away to $8.40 a barrel, compared with $12.59 in the previous quarter and $12.59 a year ago.
For BP, one result of this is that its Texas City refinery will still be showing a loss in the quarter. The refinery has been recovering from last year's double blow of a fatal explosion and then storm damage.
BP's rule of thumb is that over a full year, a $1 a barrel variance to the refining margin impacts its operating profit by $950m.
Oil fell to less than $60 a barrel. Could see more downside!
Wah... fall 8 cents this morning. I know its been in a downtrend for past 2 months already... but what trigger the drop today?
Chevron Corp is not pursuing a stake in Kuwait's new US$6b, 615,000 bpd refinery, in which the OPEC nation has said it will seek foreign investors, a senior company official said on Friday.
Asked whether the U.S. major was interested in buying into the plant, global downstream chief Mike Wirth told Reuters: "No, we're not."
Kuwait has said it will offer foreign investors up to 40% of the plant, the biggest single newbuild refinery project in the world. It is due to be completed by 2010.
No threat to SPC yet as will only be completed by 2010.
Asked whether the U.S. major was interested in buying into the plant, global downstream chief Mike Wirth told Reuters: "No, we're not."
Kuwait has said it will offer foreign investors up to 40% of the plant, the biggest single newbuild refinery project in the world. It is due to be completed by 2010.
No threat to SPC yet as will only be completed by 2010.
A hydrogen plant at SRC's 285,000 bpd refinery has stopped operations for the past 12 days following an emergency shutdown, a spokesperson for SPC said.
The unit has been down since Sept. 15 when SRC suffered a refinery-wide steam failure and the complex was shut down for several hours, she added.
"All affected process units, except for the Hydrogen Plant were restarted and are operating at normal throughputs. The Hydrogen Plant is scheduled to restart soon. There is minimal impact on refinery operation," she said.
The plant, part of a larger secondary complex and the smaller of two such units, suffered from a ruptured steam drum. Repairs are expected to take two to three weeks, said a source close to the refinery.
The unit produces hydrogen that is fed into a hydrotreater to remove sulphur in the production of higher yield products such as gas oil and gasoline.
To minimise production losses from the outage SRC, jointly owned by Chevron Corp and SPC, has brought forward the completion of the scheduled turnaround of its residual catalytic cracker (RCC) by two days to Oct. 8, the source added. The more than 40,000-bpd RCC was taken down for planned maintenance on Sept. 9, sources said earlier.
"It's quite a bit of a freak occurrence that all of the refinery's three boilers went down at the same time. It was raining quite heavily that day and they had to increase the load on the boilers to compensate for the lower external temperatures," the source said.
All three boilers tripped as a result and the entire complex had to be shut down for several hours. But when they got it back up, they found that the hydrogen unit couldn't be restarted because of the cracked steam drum."
In a separate incident on Sept. 10, five workers were injured in an accident during the maintenance of the RCC unit, the SPC spokesperson said.
Four of the workers, who were affected by residue catalyst dust, suffered superficial burns and were hospitalised for two to three days, she said. The fifth worker fractured his arm in a fall and has since been discharged, the spokesperson added.
"At the time of the incident, the RCC unit was shut down in preparation for a scheduled maintenance programme. Refinery operation was not interrupted by this incident. A full investigation is underway to determine the exact cause of the incident," she said.
It is not known if SRC will lower refining runs after the RCC comes online. Sources said there are no plans to do so despite two other refineries - Exxon Mobil and Shell - having trimmed runs by 8-10%. Refineries in South Korea and Japan have also cut runs following negative refining margins for about a month from August.
Simple refining margins in Singapore, according to Reuters data, have been in the red since June 30 and were at around minus $1.42 a barrel on Thursday.
The unit has been down since Sept. 15 when SRC suffered a refinery-wide steam failure and the complex was shut down for several hours, she added.
"All affected process units, except for the Hydrogen Plant were restarted and are operating at normal throughputs. The Hydrogen Plant is scheduled to restart soon. There is minimal impact on refinery operation," she said.
The plant, part of a larger secondary complex and the smaller of two such units, suffered from a ruptured steam drum. Repairs are expected to take two to three weeks, said a source close to the refinery.
The unit produces hydrogen that is fed into a hydrotreater to remove sulphur in the production of higher yield products such as gas oil and gasoline.
To minimise production losses from the outage SRC, jointly owned by Chevron Corp and SPC, has brought forward the completion of the scheduled turnaround of its residual catalytic cracker (RCC) by two days to Oct. 8, the source added. The more than 40,000-bpd RCC was taken down for planned maintenance on Sept. 9, sources said earlier.
"It's quite a bit of a freak occurrence that all of the refinery's three boilers went down at the same time. It was raining quite heavily that day and they had to increase the load on the boilers to compensate for the lower external temperatures," the source said.
All three boilers tripped as a result and the entire complex had to be shut down for several hours. But when they got it back up, they found that the hydrogen unit couldn't be restarted because of the cracked steam drum."
In a separate incident on Sept. 10, five workers were injured in an accident during the maintenance of the RCC unit, the SPC spokesperson said.
Four of the workers, who were affected by residue catalyst dust, suffered superficial burns and were hospitalised for two to three days, she said. The fifth worker fractured his arm in a fall and has since been discharged, the spokesperson added.
"At the time of the incident, the RCC unit was shut down in preparation for a scheduled maintenance programme. Refinery operation was not interrupted by this incident. A full investigation is underway to determine the exact cause of the incident," she said.
It is not known if SRC will lower refining runs after the RCC comes online. Sources said there are no plans to do so despite two other refineries - Exxon Mobil and Shell - having trimmed runs by 8-10%. Refineries in South Korea and Japan have also cut runs following negative refining margins for about a month from August.
Simple refining margins in Singapore, according to Reuters data, have been in the red since June 30 and were at around minus $1.42 a barrel on Thursday.
Like I had said before ..... Oil price will climb. Northern winter is coming!
Crude price was bought at very low price one month ago. When the refinery plant shut down is over and oil product price start to climb higher towrads year end, it will be a good end to the year.
I never bother about brand of petrol as long as the car can move! I was surprised at the discount I got today!
Thanks! I'll try out SPC the next time I pump petrol!
Yah... I think you're right about the brand name having nothing to do with the actual petrol.
Yah... I think you're right about the brand name having nothing to do with the actual petrol.
Tks shpplayer, your posts are really very informative!!! Cheerz!!
Basically all petrol are same......with slightly different formulations. Bear in mind, SPC's petrol is from the same refinery as that of Caltex and the former BP.......they are from Singapore Refining Company (SRC) which is 50/50 owned by SPC and Caltex.
So, if you have no problem with using Caltex or BP (in the past), then you should not have any problem with SPC.
Those who drive into Malaysia, PETRONAS is also perfectly useable.
Foreign company petrol is not a guarantee for quality......few months ago, a water seepage into an underground petrol storage tank at the SHELL Jln Ahmad Ibrahim station damaged the engines of a few cars and motobikes. SHELL had to pay for the repaiirs and compensate the owners. Freak accidents can happen....no matter the brand name.
SPC petrol good or not? Or are all petrol the same? 23% is alot of savings!
I usually pump Caltex.
I usually pump Caltex.
looks like oil will drop further wor...
Wow, oil dropped 20% and yet SPC giving out 23%. Which means??? Oil dropping soon liao????
dear all...
Spc retail additional 8% discount on top of onsite discount & SPC&U card discount , last day promotion is on 1 st NOV.
today i went to pump, i combined my SPC&U card , and make payment with DBS credit card, got a whoping 23% discount!
tks for the info. I will delay going to the pump station until 1/4 tank left.
SPC retail yesd annouced additional 8 % discount for pump stations... Caltex gv additional 3% discount off its pump prices..
Possible start of pump price war???????
Tks Nos for the technical analysis!! Will monitor patiently to enter the market!!