Not really, as Petronas's quarterly income already proven this.
Have to know that, crude oil price are buying 2 months in advance while product price are on weekly basis. You can have low oil price but high product price, like during winter seasons, diesel and kero are much more expensive as winter countries are using it for heating
Petro price maybe lower
That's why our government are using MOPS to cheat us. Like maid says : using mop to clean(our money)
So back to this price difference between 2. A bought crude oil for USD90 for Sep refining in July. They forecast at that time the product price will be average at USD140. But due to some bad quarterly results from most companies in the region, the average product prices are merely USD95. After OPEX, it is actually operating in lost
And when this situation continues, crude oil price will be maintain lower and refineries starting to make money, since there's no so-called supply and demand, more on sellers demanding buyers to pay more.
It will touch the break even period first follow by make money period. Shell and Petron already proven this from their 1st Q
Still, it will remain volatile, who knows they will lose money again
So there's no safe place like you said for O&G now, if you are looking for safe heaven O&G, Middle East are the only place.
Most Petronas projects have to continue are due to government's intervention. If they really cut all, most Alibabarm1 companies will close down. At least we won't have a sub con manager able to buy a Porsche and commit suicide in highways earlier this year, splashing his brain to a poor lady's car.

http://www.wsj.com/articles/sudden-drop-in...ound-1437903002

Thread title need to updated, WTI currently ~USD 48, huhu

(^__^)

bad post bro bad...you just fed the hungry "you know what" in the internet.

Thread title will be update only when the price touches USD62. I already monitor this for quite some time already, TS will only update when the price are higher than what he posted, when it goes lower, no update will be done
Because most people that are active in Lowyat forum still living in their denial life of O&G heaven
Do forgive them for being ignorant on bad days are on the way

my bad, anyway, where is bro mohdyakup? long time no see him

(^__^)

This post has been edited by nash9701: Jul 27 2015, 12:25 PM

busy perhaps with the project is handling. not to mention the holidays that we had recently.

https://sg.finance.yahoo.com/news/oil-price...-114356729.html
wti : $47.12 as of 8pm Malaysian local time.

Another VSS in action...


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Don't kan cheong la bro...

Italy's Saipem plans 8,800 job cuts after profit goals cut

At last, you are back to update
http://www.thestar.com.my/Business/Busines...ggit/?style=biz
Still, it was old news, latest even 2 days back already lesser than 47.98

This post has been edited by supersound: Jul 29 2015, 10:55 AM

yup, heard about it yesterday.

Thread been updated, supersound's predictions wrong!!LOL

Compare to ShellHP's 1000 from Cyberjaya and another 1000 on the way for Shell Upstream, this 125 are nothing

Nope, you guys still living in denial, as 47.98 was 2 days back price, now already settled at 47.12

I'm busy with our FSO conversion project until mid 2017 lah bro.. if I rajin I change lahh..

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This post has been edited by Binyamin: Jul 29 2015, 12:03 PM

Subsea department in Port Klang?

Yup, but you are free when the oil price touching new high few months back

Bro.. Our FSO project started on Dec 14 and now is at peak progress..