Here's why earlier I said don't buy SPC. Anyway this is out in morning news already

I just heard the news this morning. Reliance new refinery is going to start soon! Reliance new refinery capacity is 580 000 barrels a day. If combine with their existing refinery, the total capacity is 1.24 millon barrels a day!

Reliance refinery trial runs by Sept - source

Enlarge Photo Reliance Industries Ltd Chairman Mukesh Ambani addresses shareholders during an annual general meeting in Mumbai... Slideshow: Day in pictures: 3rd August 08

Wed, Jul 30 02:27 PM

NEW DELHI (Reuters) - Reliance Industries plans to test-run its new refinery by September and has already started filling its tanks with Saudi crude oil, a top company official told Reuters.

"Trial runs will begin in August-September as we started filling tankages this month only," the official, who did not want to be named, said on Wednesday..

He said additional Saudi crude would feed the new 580,000 barrels per day (bpd) refinery being built by subsidiary Reliance Petroleum adjacent to an existing 660,000-bpd plant at Jamnagar in western India.

"We will continue to buy extra barrels from Saudi Arabia in August as the new refinery start-up is ready. We started filling in the tank and started filling the lines and storages," he said.

Saudi Arabia, the world's top oil exporter, has pledged to boost production by 550,000 bpd from May to July to 9.7 million bpd, the highest in more than 30 years.

With worsening refining margins in the East, Reliance Industries is the only Asian refiner so far to have taken up the additional Saudi crude, buying 30 percent of the extra barrels pumped in June and July.

The official said Reliance was looking for storage facilities for its products in Singapore, the Mediterranean region, Europe and the US Gulf coast to help it serve its key markets.

Should have included this for clarity:  

http://ap.google.com/article/ALeqM5iTKFqY44EEha_Fb9CRDMjU692BWgD933JT183

SPC  is one great stock to keep for long-long term...

But first, one must make sure it is only bought 'cheap-cheap'...

 ie. around $4 or thereabouts...

2002, ha seems like most of the people hv the same thinking with u.

glad to see no catatrophic action for this burger ds morning, except it stayed at 4.93 for a while.

Long-term investors must need to cultivate a hopeful and long-suffering attitude in order to live through the years of agony when they are having negative equity in their accounts because of falling prices. This agony is caused by the thought 'I should have sold it if only I knew the price will fall'.

When experiencing this agony, it is necessary to console oneself that the price will surely go back up in time...

The point is, a loss is a loss, no matter what consolation one gives to oneself. ...