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US and its Allies are running out of options on oil sanctions. For the time being, curde oil demand is improving. US crude oil inventory fell short of 5.6million barrels in recent report by American Petroleum Institute. The prospect of supply cuts by Saudi Arabia kept the outlook upbeat.
This sentiment will help HIBISCS rise further. Analysts expects HIBISCS will record highest revenue and net profit in coming QR. As of now, Hibiscs already make more than 1.1B in 12 trailing months.
Mr Kuek, HOLD. Its too early to take profit now. Hibiscs is at the lowest point in its cycle. There are many oil reserves in UK and Australia yet to realise. Hibiscs is a USD contract holder. USD is getting stronger while MYR is getting weaker. HIbiscs reports its P&L in MYR. Hibiscs will get some revenue on cyrrency exchange alone. Crude oil price will be offset with crude oil production and currency exchange. Market is upbeat on Hibiscs because they know whats coming in Hibiscs next QR.
Crude is not the issue. The problem is diesel. Stocks are way too low esp in light of seasonal dem increases and extra dem from gas to oil substitution. The only solver is price which will have to go painfully higher!
QR is OUT. Hibiscs Revenue beats Analysts expectations from forecast MYR1.6B to MYR1.7bil and Net Profit from forecast MYR300mil to MYR 600mil ++.
Nahhh Amik engkau!!!
This is strange. If this continues, Hibiscs should be better off delist from KLSE and go elsewhere. Hibiscs will be better off in other market and we can always continue and trade with Hibiscs from here.
Maybe this news havent reach the public yet. We wait for Maybank & HLIB analyst report.
One thing for sure, Hibiscs now run at near full capacity Except oildfields under development in UK and Australia. Oil price is looking good. The Rest of the World havent shown signs of recession EXCEPT US and EU.
The SPR has ebbed to a new 37-year low in mid-August, dropping to 453 million barrels, enough to cover about 23 days of consumption if all other sources became unavailable, fresh Department of Energy data shows.
The figures indicate that the reserve presently contains 232.6 million barrels of sweet oil (i.e. crude with low sulfur content) and 220.5 million barrels of sour oil (i.e. high sulfur content).
Hibiscs has operating interests in the UK, Australia, Malaysia and Vietnam,
with net 2P/ 2C reserves of 77m bbls and net at current price USD100 per barrel
daily production of 50,000 - 75,000max bpd.
Banyak tuhhhh
SINGAPORE (Reuters) -Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a U.S. refinery.
Both crude oil benchmark contracts touched three-week highs on Wednesday after the Saudi energy minister flagged the possibility that the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, will cut production to support prices.
Hibiscus Petroleum Berhad (KLSE:HIBISCS) investors will be delighted, with the company turning in some strong numbers with its latest results. The company beat both earnings and revenue forecasts, with revenue of RM1.7b, some 7.6% above estimates, and statutory earnings per share (EPS) coming in at RM0.30, 103% ahead of expectations.
the analysts had been forecasting revenues of RM2.24b and earnings per share (EPS) of RM0.26 in 2023
Oil prices have been buoyed by hints from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, that they could cut output in order to balance the market.
The United Arab Emirates is aligned with Saudi thinking on output policy, a source told Reuters on Friday, while the Omani oil ministry also said it supported OPEC+ efforts to maintain market stability.
US try to made a deal with Iran, a mortal enemies with Saudi..Saudi is like , hey I am the second largest oil producer leh..I am running out of reserved, but I may cut production a bit...
Despite US market sell off last Friday, Hibiscs still holds its position after opened the day lower. Majority of stocks ended lower. US currency went up another 2sen from MYR4.46 to 4.48. Brent Crude Oil stabilizes due to the fact US fear Russia benefits from high crude prices. Saudi Arabia enjoys current oil prices and will make neccessary cuts to continue enjoying returns from oil sales.
Expect Investment Banks seek refuge in Energy counters whenever US indices dive.
myr , oil , down is ok , cause oil is price in us dollar , USD up myr down is a +point for hibiscus, don't panic lah..later on same barrel of oil may exchange more myr...lol
(Bloomberg) - OPEC+ is expected to keep output steady when it meets next week, anticipating that oil markets will recover from a recent price rout and tighten by year-end.
Countries that support price cap will not get Russian crude, according to the deputy PM
Russia will embargo countries that support the Washington-proposed price cap on its oil, Deputy Prime Minister Alexander Novak said on Thursday.
European natural gas prices could approach highs set in August after Russia said its key pipeline to Europe won’t resume flows as planned, according to Goldman Sachs.
The US Energy Secretary, Jennifer Granholm bullies U.S. companies to reduce fuel exports. America’s allies in Europe are desperate for alternative supplies of fuel amid the Ukraine war. That’s the message Energy Secretary Jennifer Granholm sent last week in a letter imploring seven major refiners to limit fuel exports.
OPEC and non-OPEC partners, an influential energy alliance known as OPEC+, decided to cut production targets by about 100,000 barrels per day from October.
Yes, Bryan. Hibiscus can still go higher.
Hibiscs current PE ratio is 3.3 while Hibiscs peer average PE ratio is 6.6 (local) & 9.3 (global).
This means if Hibiscs continue increasing more crude oil (which Hibiscs can) and OPEC control crude oil price at current price, Hibiscs share price should double easily by next year.
hibiscus estimate profit per year is 800 mil at least, strong cash flow, its cash per share will be equal to its share price in 5 quarters, and it's traded below nta. I suppose market made a mistake, valuation is too low. a lot of rubbish company had higher valuation then hibiscus. sadly it didn't pay dividends this quarter ， otherwise share price will go to the roof
Loss-making Uniper, which has had to be bailed out by the German government amid Europe’s escalating energy crisis, will buy up to 12 LNG cargoes a year from Woodside’s trading business in Singapore.
EU turn to Australia for gas supplies and coincidently hibiscs has a few exploration underway there.
Simon, Hibiscs under heavy short selling because major shareholders are retail investors or public. They holds 46% shares in Hibiscs. Hibiscs just become MYR1.7bil company this year. There are many oil reserves unexplored in UK and Australia. Hypes on RE have been exaggerated by RE supporters but the fact is RE only provide 3% energy in the world. RE is unreliable, require huge investments, need space, high carbon footprint e.g. litium/cobalt mining and ugly.
Only Big Funds, 36%, can stop them.
Looming US rail strike could disrupt commodity markets
?70% of US ethanol shipped by rail
?Strike would interrupt coal deliveries
?Coal shortage could boost gas demand
Monthly OPEC Report scheduled today. Expect more production cuts this month onwards.
If US and EU proceed with price cap, expect crude oil reach USD150 per barrel - Norway PM & JP Morgan.
Russia & PRC boosts another new commercial zone, SCO and new trading routes e.g. land/rail PRC - EURasian - St. Pburgs to avoid West Sanctions.
As a result of the strikes, the losses among Ukrainian service members and foreign fighters exceeded 800 people killed and wounded,” the ministry stated.
The attacks come after Ukrainian troops apparently advanced in Kharkov Region, with Russian and allied forces withdrawing from some areas to “regroup.” On Monday, commenting on the recent development in Ukraine, Kremlin press secretary Dmitry Peskov insisted that Russia will continue with its military operation “until the goals at met".
If the West continues its “unrestrained pumping of the Kiev regime with the most dangerous types of weapons,” Russia’s military campaign will move to the next level, where “visible boundaries and potential predictability of actions by the parties to the conflict” will be erased and the conflict will take on a life of its own, as wars always do, Medvedev argued.
Reuters) - UK's benchmark FTSE 100 index advanced on Tuesday, lifted by commodity and banking stocks, while global markets remained cagey in a busy week for global central bank meetings.
Russian President Vladimir Putin on Wednesday announced a partial military mobilization in Russia, putting the country’s people and economy on a wartime footing as Moscow’s invasion of Ukraine continues - Reuters
ECB raises prospect of rate hikes beyond neutral level!! FRANKFURT (Reuters) -The European Central Bank may need to raise interest rates to a level that restricts economic growth in order to cool demand and combat unacceptably high inflation, ECB President Christine Lagarde said on Tuesday.
US Fed Set to Reveal 'Pain' Coming in Next Stage of Inflation Fight. (Bloomberg) -- Federal Reserve officials are about to put numbers on the “pain” they’ve been warning of in recent weeks when they publish new projections for the economy, which could show a substantial rise in interest rates and unemployment ahead as the estimated price tag for reducing inflation.
the more they sell the more we buy. we know the company is making more oil . and it below cost of production .. we are investing in long term. or until it hit our target price.
Oil futures climbed on Tuesday, with prices finding support a day after settling at their lowest price since January, as Hurricane Ian leads to the shut down of some platforms in the Gulf of Mexico and as a dollar rally takes a breather.