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SPC
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chinkiasu
Master |
30-Jul-2007 16:53
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i think too many contrains and shortist around.. now desparately covering positions... looks like close at 6.5 today |
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idesa168
Elite |
30-Jul-2007 16:51
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Are the White Knights coming to rescue SPC again? Want to make some kopi $$ from SPC also tough now, that Kilroy also join force with Nicky...hehehe. Will tomorrow be a bettr day? |
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chinkiasu
Master |
30-Jul-2007 15:59
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ha ha... nickyng.. good try... |
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nickyng
Supreme |
30-Jul-2007 15:25
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wow...desperate act of posting this and that to "cheer up" a falling "JEWEL" ?? hee...gd effort mate !! haha...but still falling..$6 is approachable liao siah ...!! AREIT India is the next to watch ! hee... |
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KiLrOy
Master |
30-Jul-2007 15:12
Yells: "I buy only what I can see." |
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If it doesnt close 6.60, 5.85 here we come. :) Look at the chart and tell me what do you see? No need to know the technicals, jus a visual cue. ----- CCI oversold, ADX trend subsiding (reversing), ADX + meeting his darling ADX -. |
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chinkiasu
Master |
30-Jul-2007 14:44
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no worries idesa168, this baby will not fail you... i think it will close above 6.6... btw in case you folks miss this here is article for another refinery in Singapore!! And pls note my highlighted italics in red: Refinery margin is about $7 (I had assumed $6 in my calculations below) By Jiwon Chung and Luke Pachymuthu SINGAPORE, July 26 (Reuters) - Oil trader Concord Energy is seeking to build a multi-billion dollar 150,000 barrels per day (bpd) refinery in Singapore, after it shelved plans for a smaller condensate splitter less than two months ago, industry sources said on Thursday. If the project goes ahead, it will be the first grassroot oil refinery to be built in Singapore in three decades, and will increase the city-state's refining capacity by 11 percent. The plant would lead to more fuel shipments to markets such as Indonesia, Australia and the United States, though analysts said it will face growing competition. "Plans are underway now to build a specialised refinery on the same plot of land which was originally picked for the previous project on Jurong Island," a source familiar with the project said. It is still unclear how quickly the new facility will start construction, a source said, adding that the privately owned company is in the process of submitting plans to the government's Economic Development Board (EDB) for approval. Concord Energy and the EDB declined to comment when contacted. Singapore-based Concord was set up more than eight years ago to trade crude and oil products in Asia's energy trading hub, which has about 1.35 million bpd of refining capacity from majors Exxon Mobil Corp. <XOM.N>, Royal Dutch Shell Plc <RDSa.L> and Singapore Refining Co (SRC). Concord is expected to tie up with Middle East partners for the project, sources said. Another source familiar with the plan said that along with a a crude distillation unit, the new refinery might include units such as a residue fluidic catalytic cracker to make gasoline, a hydrocracker for diesel and a thermal cracker for light products. "It will be a conversion refinery, which means they will build a unit to process residue to lighter products," the second source said. FORWARD MARGINS KEY There has been no new complex oil refineries built in Singapore since the mid-1970s. The last major expansion here was in the mid-1990s when SRC, a joint-venture between Singapore Petroleum Co. Ltd <SPCS.SI> and Chevron Corp. <CVX.N>, raised its capacity to 285,000 bpd. The sources did not give the estimated cost for the proposed facility. But based on Kuwait's recent higher cost estimate for a planned 615,000-bpd refinery to about $14 billion, the project would be valued around $3.4 billion, on a per barrel basis. Rising global demand for transport fuels and strong margins have led to a raft of new refinery projects in Asia and the Middle East, though growing costs have derailed or delayed many such plans (for table see [ID:nSIN151807]). "Refining margins are still very strong -- margins right now make the project potentially attractive," said Victor Shum, analyst from Purvin & Gertz in Singapore. In Singapore, margins for complex refineries cracking Dubai crude over the past five days averaged a healthy $6.99 a barrel <REF/MARGIN1>, after the sector saw losses early this decade. But many analysts see margins declining by the end of the decade. Shum pointed to rising competition, especially with export-oriented new refineries or upgraded ones being built in India and in Singapore export markets such as Vietnam. "You have South Korean refiners adding capacity, China is building new refineries, and even Vietnam has a refinery project in the pipeline, so there is a fair bit of competition for them," Shum said. In June, Concord announced that it had cancelled plans for a $200 million condensate splitter -- the first in Southeast Asia -- after failing to reach an agreement with its Iranian partners who were going to supply the light condensate oil. (Additional reporting by Jonathan Leff) ((Editing by Neil Chatterjee and Ramthan Hussain; Reuters Messaging: luke.pachymuthu.reuters.com@reuters.net; luke.pachymuthu@reuters.com)) |
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nickyng
Supreme |
30-Jul-2007 14:33
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aya..dont be so superstitious can or not??? i am no a plague ok?..hee..anyway u shld hv contra EZRA...SPC is likely down now then up...perhaps coming late Aug -Sep will see some actions... :) |
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idesa168
Elite |
30-Jul-2007 14:24
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My screen all blue except one red...SPC...sobbing! Nick, can you please go away...shooo...shoo..! hehehe. |
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chinkiasu
Master |
30-Jul-2007 10:59
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I agree with Pinnacle, Tokyo SE energy counters up 1% when Europe comes in at 4pm it seems to me that SPC can close above 6.6 perhaps 6.8 (I am hoping...) |
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Pinnacle
Master |
30-Jul-2007 10:54
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Well, asian market is recovering. So its now up to eur market to perform to complete the recovery. |
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idesa168
Elite |
30-Jul-2007 10:52
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No white underwear please! |
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nickyng
Supreme |
30-Jul-2007 10:50
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well...my SHORTIST war Vs entire STI mkt are not lost yet !! hee...anyway let see in the afternoon how's the mkt going fwd....usually in a volatile mkt like today...the BIG wars were usually fought in the later half of the mkt loh...hee... keep ur finger crossed :) |
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KiLrOy
Master |
30-Jul-2007 10:36
Yells: "I buy only what I can see." |
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Even the cloud cleared up and it looks set for a sunny day today. Time to hang out the washings.~ |
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Pinnacle
Master |
30-Jul-2007 10:28
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STI is recovering. Now is time for SPC to revive to fair value. S$6.60 is seriously undervalued. |
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idesa168
Elite |
30-Jul-2007 09:40
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Nick....I loose to your battalion in the open liao...hehehe!! but we have 7 more hrs for the day. I am still holding on to my view. Oil down slightly, US76.70 (-$0.30). |
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chinkiasu
Master |
29-Jul-2007 03:35
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World oil prices jump on news of strong US economic growth
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NewGuy
Member |
28-Jul-2007 20:24
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Today Straits Times wrote that Canenove Security raise the fair value to $8.45 from $7.39 to reflect the higher refinery margin .. Great ! .. |
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chinkiasu
Master |
28-Jul-2007 16:55
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in any case here is the latest on oil prices posted one hour ago...Chicago Tribune... Oil prices closing in on all-time high Technical buying, growth news blamed July 28, 2007 NEW YORK?The price of oil closed higher than $77 a barrel Friday, near an all-time high, on technical buying and news of faster-than-expected economic growth. At the pump, meanwhile, gas prices fell to their lowest level since late May. Light, sweet crude for September delivery rose $2.07, to settle at $77.02 a barrel, on the New York Mercantile Exchange. The highest-ever settlement price for a front-month contract was $77.03 a barrel, set July 14, 2006. Reflecting how volatile trading in oil futures has been, oil ended the week up only $1.45 a barrel, or 1.9 percent, despite rising more than $2 a barrel on two separate days. The Commerce Department said the economy expanded at an annual rate of 3.4 percent in the second quarter, removing some of the concerns about economic growth that sent oil prices down Thursday in sympathy with Wall Street's plunge. |
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chinkiasu
Master |
28-Jul-2007 10:29
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Personally folks, I really cannot say... although I am very sure SPC will touch above 7.00 (in due course , whether it would do this on Monday or not or dip to 6.3 is the fun part... as for me I stay chicken.. and watch by the side lines.....(the one in dead centre is elf) |
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idesa168
Elite |
28-Jul-2007 09:12
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No problem, no worries Nick, we are not god cannot preddict future, it's just discussion speak your mind. If there are no 2 camps of thoughts, there will not be any buy and sell in the mkt. I am still holding my stand that SPC will open with a bang on Monday. Oil price shot up to $77 (+$2.00), the only jittery is DOW is down with -200pts. ...jkbk007, if I am not wrong Chevron was down because they missed analyst expectation? |
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