No offend my friend. Agreed this is a long term energy commodities stock with reasonably nice returns. I was juz curious why you mentioned SAR with cheong yest as energy commodities is taking a break.

dow is up, what px do yu want to buy???can pls share..

for me i like to buy up..since 96.5c..and some 12 short term trede..with one lose...and this one still holding...look like one more win for me..

becos, it is just plain prediction...but i know this one deliver, stay vested, dont sell cheap..

oil and commoidties will be head up till end summer...i believe ion HS Dent..he say so..so far he is spot on..

By: Reuters | 24 Jun 2009 | 11:15 AM ET

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Saudi state oil giant Aramco is shifting its exploration and production focus to gas to meet rapidly rising domestic demand as its program to expand oil capacity comes to a close.

Falling global oil consumption has left the kingdom sitting on its biggest supply cushion in years and allowed it to shift attention from oil to booming gas demand at home.

"There will be more gas developments," a senior source at Aramco told Reuters. "We are expanding gas activity and we are slowing down oil."

Saudi gas demand has risen with an economic boom financed by record crude export revenues as the oil price rallied from 2002 to 2008.

Economic momentum continues, despite lower oil prices, as the kingdom presses ahead with projects to diversify away from dependence on crude sales revenue.

"Gas is a high priority as it is used to fire power plants, to desalinate water and as a feedstock for petrochemicals," said Sadad al-Husseini, a former top executive at Aramco.

Annual gas demand in the world's top oil exporter is growing at 7 percent per year.

Demand was around 7.5 billion cubic feet per day (cfd) last year, estimated Siamak Adibi, senior Middle East consultant for FACTS Global Energy.

"There is a real challenge to meet domestic market needs," he said. "Demand is growing day by day. Nearly half of Saudi gas is produced as a by-product of crude, so volumes fluctuate with oil output.”

Lower global demand has forced the kingdom to pump oil at the slowest rate for six years, so some gas supply has been lost. But drilling activity at gas fields was increasing even as oilfield work slows, sources said.

"There's increasing gas activity, more rigs are moving from oil to gas," one industry source in the kingdom said.

Aramco has accelerated the development of pure gas, or gas from fields not associated with oil. It plans to boost capacity to process that gas to 9 billion cfd by 2015, up from around 6.2 billion cfd now.

Aramco was considering programs for rapid development of pure gas at the Arabiyah and Hisbah fields. It began drilling at Karan last year, its first offshore pure gas project.

Empty Quarter, Empty Wells

Five years of gas exploration by international companies in partnership with Aramco in the vast desert of southeast Saudi Arabia, known as the empty quarter, have failed to find the gas needed to meet future demand.

In a rare opening for international firms, Aramco set up four consortia to drill for gas in the region in 2003-2004.

• Slideshow: The 10 Hottest Commodities of 2009

But gas sales terms were so poor that to make money the consortia needed to find condensates, which is light oil that forms when gas reaches the surface. The consortia had the right to sell condensates at market prices.

"That meant they weren't really drilling for gas," said one industry observer. "They drilled for condensates. And finding condensate-rich gas is much harder than finding dry gas."

Saudi Arabia has made it clear that balancing global oil markets is a priority, regardless of the challenges this throws up with gas supply at home. When it lacks gas for power plants, it burns oil products and crude.

Power plants on its west coast tend to burn liquid fuels, while those on the east coast burn gas.

"It's just a matter or optimization," said one Saudi industry insider.

Aramco completed most of the work on reaching its oil capacity target of 12.5 million bpd when it started up the Khurais oilfield in early June.

Spare capacity is 4.5 million bpd, more than double its target cushion of 1.5 million bpd to 2.0 million bpd to meet surprise global supply disruptions.

The next oilfield earmarked for development is Moneefa, but Oil Minister Ali al-Naimi has said that would go ahead only when global demand warranted. Work at Moneefa has slowed as the start date slips.

There are four rigs working onshore, less than a planned 15 rigs scheduled to be working at Moneefa by now under initial plans, an industry source said.

solar,

your view is also this will cheong rite? as mention, cheong said...

suggest for long term ot contra?

oh...forgot to paste the chart..here is the chart..

http://finance.yahoo.com/echarts?s=AJ1.SI#chart5:symbol=aj1.si;range=my;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined