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SPC
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Nostradamus
Supreme |
15-Sep-2006 19:29
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S'pore Refining Co has not imposed output cuts at its 285,000 bpd plant, because it started a routine month-long turnaround on one of its crackers last week, said a source. "It depend on how margins are when they complete the turnaround, scheduled for end-Sep. If margins are still poor, they can slow down the process of bringing it back to full capacity," the source said. |
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chipchip66
Master |
15-Sep-2006 11:19
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Tks shplayer for sharing the infos. Does it mean every 3 months their expense is 7m for drilling? looks like a small amount to pay considering the chance to discover black gold! So, if SPC does find oil, what is the proportion they will get since they joined forces with other players? |
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shplayer
Elite |
15-Sep-2006 11:12
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Seems like for oil exploration concessions that come up 'dry' (no commercial oil reserves), SPC will expense their share of the cost. In 2Q 06, SPC expensed $7m for Upstream activities....I presume it is their portion of the drilling offshoreVietnam which was 'dry'. For exploration which is result in commercially viable fields, I would presume SPC will capitalise their exploration and production infrastructure costs and depreciate it when the field starts to generate revenue....Oyang and Jeruk fields. |
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chipchip66
Master |
15-Sep-2006 10:40
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How much costs will SPC incur everyday to dig for oil along the IDR coast? EVeryday will incur a loo if they don't find anything! Big boys reducing refining capacity, Think SPC will see their profits being refined lower as well. I can accumulate when it goes lower. |
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singaporegal
Supreme |
14-Sep-2006 21:28
Yells: "Female TA nut" |
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SPC is on downtrend now. |
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Livermore
Master |
14-Sep-2006 19:27
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VIENNA : High oil prices are still being propped up by a shortage of refinery capacity and there is little sign of the bottleneck easing until 2010, industry executives and officials discussing OPEC's future have warned. |
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Nostradamus
Supreme |
14-Sep-2006 18:18
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Refiners in Singapore and South Korea have added to a wave of run cuts across Asia, industry sources said, underscoring the emergence of an oversupplied world oil market that has knocked US$15 off prices.
The slump in refining profits have driven plants to take more than 160,000 bpd of capacity offline, the deepest cuts since crude embarked on a four-year rally fuelled by fears of a shortage of refining capacity. But analysts warned that the curbs may be short-lived if a hurricane disrupted U.S. production or winter hit early or hard, lifting margins out of the red and encouraging higher runs. Exxon Mobil has cut output by 8-10% at its 600,000-bpd Singapore plant since August, mostly of light products such as naphtha. Royal Dutch Shell has also cut runs at its 500,000-bpd Singapore plant, industry sources said, but it was unclear to what extent. Typically refiners cut by 5-10%. In South Korea, SK Corp.-owned SK Incheon Oil has opted to cut September operations to 170,000 bpd, about 20,000 bpd less than it initially planned, and will keep runs steady next month. Those cuts come on top of reductions reported last week at South Korean peers GS Caltex and Hyundai Oilbank. Japan's Nippon Oil said it was trimming output due to reduced domestic demand for fuel oil, while giant SK Corp. was already running about 11% below capacity. The cuts represent just about 0.7% of Asia's total capacity, but may still give some boost to markets. "I think it... restores a bit more positive sentiment rather than takes any meaningful barrels out," said Merrill Lynch analyst Adrian Loh. "I think there will be an uptick (in margins), I'm just not sure of the magnitude of it." The curbs revived memories of the late 1990s, when refiners were forced to idle 20% of their capacity due to a slump in demand after the Asian crisis, although analysts said autumn maintenance plans and the approach of peak winter demand should improve margins soon, prompting refiners to reverse the curbs. "September and October are usually a low-demand season. It is likely that demand will pick up after mid-October," said Thomas Yi, an analyst at Samsung Securities in South Korea. They also highlight what many traders say is a key factor behind oil's nearly 20% dive over the past month -- the reemergence of spare refining capacity to sate winter demand and sooth fears of any unexpected outages -- at least for now. The price fall and the refinery run cuts will be troubling for OPEC, which may have to consider its first official supply cuts in two and a half years to keep prices from falling below the US$50-US$60 range that many members deem appropriate. Simpler refiners in Asia are often the first to feel the effects of sliding margins, as the region has more capacity than it has demand for most fuels, despite rapid growth in China. Export-oriented refiners are cuttting back after simple margins in Singapore -- a proxy for topping plants across Asia -- fell about US$3 into the red over the past month, at one point nearing minus US$5, their lowest point in a decade, according to Reuters data based on average Dubai yields. Fuel oil's discount versus crude has rebounded thanks in part to the cuts, recovering to around minus US$14 a barrel after hitting an all-time low of minus US$20 early last week. But profits on light fuels remain anaemic, with Singapore's 92-octane gasoline hovering US$1 above benchmark European BFO crude and naphtha's premium to Brent near a one-year low of US$60 a tonne. "The meltdown of NYMEX unleaded gasoline futures prices tells refiners and importers to cut gasoline supply," said Jan Stuart at UBS, pointing to a 30% slide in New York this month. News of the Exxon Mobil cuts may bite especially hard as it will tighten supplies in the refining and trading hub of Singapore, where prices for fuels across Asia are set. The cuts are likely the most widespread since margins emerged from a five-year slump in 2003. In the late 1990s, refineries in Asia ran at about 80% of their capacity, a figure that jumped to 90% in 2003 and 2004 amid unexpectedly quick demand growth from China, BP data show. The cuts are also the result of bulging inventories, especially in Asia, where traders have been forced to book tankers to hold excess fuel oil offshore Singapore and Japanese refiners have topped up winter distillate inventories to their highest seasonal point since 2003. |
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chipchip66
Master |
14-Sep-2006 13:11
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up six cents today with low vol. I think cannot sustain! |
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teeth53
Supreme |
14-Sep-2006 00:20
Yells: "don't learn through life, learn to grow with life " |
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SPC started giving retail discount from yesterday 12-09-2006 (Tues) no wonder down by 4cts today to $4.60 |
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chipchip66
Master |
13-Sep-2006 22:58
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SPC will rebound but still no clear indication it will go on uptrend. Pls trade with care! |
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chipchip66
Master |
13-Sep-2006 13:15
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Looks like SPC will drop another few cents today!! 6 cents maybe? |
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scotty
Senior |
13-Sep-2006 10:14
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I drive Toyota. I heard of friends who drive Honda kanna attempted carjack in broad daylight just after crossing the checkpoint into JB! |
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chipchip66
Master |
13-Sep-2006 09:57
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Hi scotty, u drive lexus or SUV or anything big, then u better pump in S'pore. Kena CarJack neber mind but kena whack also very probable.whenever i go JB, i still see lots of S'pore cars queuing to pump petrol, so i think should be safe. Anyone know what kind of precautions to take when pumping petrol in JB? |
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scotty
Senior |
13-Sep-2006 09:48
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Go JB kanna carjack... Does anyone know if Car Insurance covers car jacking incident in JB? |
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chipchip66
Master |
13-Sep-2006 09:44
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Does anyone know petrol station in JB also cut their prices?I will be goin there to makan makan. |
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teeth53
Supreme |
13-Sep-2006 08:06
Yells: "don't learn through life, learn to grow with life " |
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Oop!!! the 5th sen..is smell, any one smelling a discount coming since oil price drop another US$2/- to US$63.76, Iran said it would like it px to stick at about US$64/- per barrel. Other said about US$50-60 |
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teeth53
Supreme |
13-Sep-2006 00:42
Yells: "don't learn through life, learn to grow with life " |
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That was last week what, this week neber lehh...no six sen...maybe 5sen...See eat taste touch and hear lohh....... |
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chipchip66
Master |
13-Sep-2006 00:29
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Really, I hope there will be more to come!!! |
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luvbugz
Member |
13-Sep-2006 00:23
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SPC & fellow petrol stations cut 6 cents off petrol prices a week ago |
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chipchip66
Master |
12-Sep-2006 18:36
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SPC price is hit due to lower crude prices. The potential to punt on this stock is great ( high risk high returns ) but should be only for those who can hold on to it. The entry point i think is around $4.20 ( 15-20% )off the price of $5.00. However, if crude price still heads south, then might SPC might fall evern harder!! So, enter the market at yr own risk. High Risk, High Returns. |
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