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Tech stocks, manufacturing, ICT or service sector stocks, their market is limited. Hibiscs is now doing a lot of oil exploration in North Sea and Australia. Exploration of gas in Australia can be huge contribution to Hibiscs with current move by Australia Government to ban gas export and ensure gas demand in Australia are adequate.
Australia pays drilling companies to carry out oilngas exploration unlike Petronas..
WTI crude oil is on the climb cycle.
harini closing ada guardian angel kat support 0.945. price tak gap up or down.. the grand duke of york.. half way up and they were neither up nor down!
Maybe. Here is why.
1 US Strategic Petroleum Reserve running low.
2 US Dollar getting weaker. PRC id dumping US Dollars. Russia & Saudi Arabia sell crude oil to PRC in Yuan.
2a Saudi Arabia, Iran, PRC are getting bolder.
3 US Diesel reserves only have 15 days reserves.
4 WTI crude oil making several attempts to break USD 89 today.
Us release of spr reserved is not sustainable. If Biden Administration keep doing what is it currently doing, US. Spr will completely depleted within month. More over , mid term elections is around the corner, so Biden Administration is running out of motivation to release SPR reserves soon
More over, oil and gas is under investment for the past 5/6 years, I am not too worried about oil prices, opec cost per barrel( plus the administration/fiscal cost) is around usd 80, shale oil cost is around usd 40, hibiscus has the lowest cost amount them all. Lol
For a profitable/cash flow strong company, with good prospect hibiscus is only traded at its nta, typical text book case of undervalued, within 5 quarters, it’s cash on hand is equal to its market value , lol. A bit sad though, it didn’t paid haigh enough dividends, which I suppose hibiscus is able to
got many people selling ka? 58% buying rate currently.. the naga is doing his thing.. churn churn.. kasi volume naik sikit.. if WTI can maintain above 88 and go above 90.. hibs can easily pass through resistance 1.02.. then up up we go!
Since market opens, WTI is playing around USD 88 - 88.5 from previous day high USD 86 and this week low USD 83.15. Oil market is compacting buyers. WTI crude oil is on uptrend with higher lows this week. Biden shifts his focus on saying current inflation in US is a global phenomenon to win votes. He knows there is nothing he can do to stop crude oil from rising.
There are two main events for hibiscs in near future. Maintain position in FBM MidSmall Cap 70 at the end of Nov and Morgan Stanley MidSmall Cap at the end of December. FYI.
Brent slipped to USD 90.92 but rebound higher rising up to USD 93. Demand remain tight. The problem is with US Dollar currency. USD strengthen. When this happens, refiners pause purchasing crude oil. While oil producers and oil tankers anchored of port and wait until price go up only they offload. Malaysian Crude oil is a premium crude oil better than Arabian Light. Premium crude oil require lower refining cost. With US Dollar getting stronger n High quality crude oil, Hibiscs should benefit.
Bursa Malaysia Securities Bhd has publicly reprimanded, fined and suspended two dealer representatives for engaging in prohibited short selling activities in the accounts of three clients. The two, Mooi Weng Hou and Kwan Chun Han, were commissioned dealer representatives of RHB Investment Bank Bhd at its Pandan Indah branch office at the time of the offence, Bursa Securities said in a statement.
This is the scenario. Hibiscs should be min 1.22 per share if we look at this quarter Net Asset per share value. With that asset, Hibiscs use them to produce another 30sen per share. All accummulated debt already written off. Cash flow [FCF] is getting healthy. I wish you all the best.
If you look at hibiscs price chart, whenever there is a hike or price jump, there is also high activity of short selling. They move in tandem.
Whereas Hibiscs steadily climb at lower spread with low no of short selling. Pls look at 1QFY22. FYI.
Yes. 2 days ago Brent/WTI oil plummet as market reacted to protest in Shanghai where there was a fire on one of their high rise apartment. No evacuation were carried out because of their Covid19 policies.
Recent news today, there is a rumour OPEC will make another oil production cut. Adn US Fed Powell signals there will no more interest rate hikes due to their fear increasing more interest rate will put US into deep recession.
PRice cap. EU failed to reach an agreement. Price cap is scheduled to take effect on the 5th Nov. Refineries are now scrambled to purchase and stock up crude oil. Russia refused to sell their crude oil to any country who impose price cap on their oil...
Buy. You will not regret this. Hibiscs is on the way to be MYR2bil company FY23. There are Avalon and Northwestern Australia assets will go online next year.
Yes. Anasuria UK already fixed. Next is Avalon which is near to Anasuria. Hibiscs has several oilfields in Northwestern Australia. They are now under development stage. Next phase is production scheduled next year.
Crude oil inventories sagged by another 7.85 million barrels, American Petroleum Institute (API) data showed on Tuesday, after dropping 4.2 million barrels in the week prior. Analysts anticipated a 2.487 million barrel draw.
U.S. crude inventories may have grown by roughly 13 million barrels so far this year, according to API data, but crude stored in the nation’s Strategic Petroleum Reserves sunk by nearly 16 times that figure so far this year— by 204 million barrels.
The bloc has been negotiating to set a cap on Russian oil prices for days but has not yet succeeded. Poland reportedly wanted to set the ceiling at $20, with the support of Ukraine, while other members are seeking a higher limit. "The EU Commission initially offered $65-70 per barrel as the price ceiling for Russian oil. After recent negotiations, the last offer was $62," the source clarified.
Russia will not sell crude oil to EU. Refineries in EU will desperately looking for crude oil. Crude oil will jump once price cap on Russia crude oil take into effect. While Russia allies will benefit from this price cap e.g. China, India and etc.
AG. This is true if you look at your dashboard. But if you look at price charts, you will see there is tail and shadows. Crude oil are traded 24hours around the clock EXCEPT on Saturdays and Sundays.
If you look closer in price charts at smaller time frame e.g. 30 minutes, there was an attempt to break USD 80 before midnight yesterday. Crude oil struggled to break USD80. Short sellers took advantage on this situation and short.
PRice fell to new low USD76.5. This morning, Brent crude oil rise up
US Dollar weakens. But someone is buying Precious Metal. This means market ditches US Dollar and put their money into Gold and Yuan. Watch China closely. Crude oil & gas prices now depends on CHINA. CHINA is flying. Japan is depending on the Chinese more than ever.
US Dollar continues weakening.
Peak Oil Demand nowhere in sight.
Fossil fuel is not going anytime in future. Nuclear fusion has long way to go.. 30 years away
China holds record for lighting 'Artificial Sun' (Nuclear Fusion/Fission) by 17 minutes.
US just recently achieved leap in Nuclear Fussion by ignition with hold 3secs that can light a 13W bulb.
There is no Renewable Energy during Winter.