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Oil Prices
21-06-2017, 04:15 PM,
Post: #1211
RE: Oil Prices
Offshore oil drilling which has a higher break even cost will face increased difficulty to survive if oil price stay lower for longer. This means offshore vessel builders and/or lessors such as Keppel, Semb Marine, and Mermaid will continue to suffer. The smaller support businesses such as MTQ, Ezion, and the numerous support vessel owners/builders will continue to suffer as well.

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21-06-2017, 08:23 PM,
Post: #1212
Oil Prices
It will be a very long winter for oil. I do wonder whether the local banks will see further impairment of loans. They are priced as if the offshore sector will not see further bankruptcies.


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21-06-2017, 08:56 PM, (This post was last modified: 21-06-2017, 08:57 PM by chialc88.)
Post: #1213
Rainbow  Kepcorp experiments
buying Kepcorp was a tough decision.

it was at it's lowest point and practically nobody wanted the stock.

From my trading records, the one and only purchase was done in Q1 2016,
reason: is something that I cannot disclose (ha ha, injected some suspends).

Collected 3 dividends and noticed that head winds to O&G is really strong.

It's like the entire world gang up to bully Singapore
erh... correction, O&G sector... I meant.

Sold last week (again one swing) as I foresee a long up-hill battle...
From heart to heart:





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04-08-2017, 02:17 PM,
Post: #1214
RE: Oil Prices
^^ Talk about "god":

(Bloomberg) -- Andy Hall, the oil trader sometimes known in markets as “God,” is closing down his main hedge fund after big losses in the first half of the year, according to people with knowledge of the matter.
The capitulation of one of the best-known figures in the commodities industry comes after muted oil prices wrong-footed traders from Goldman Sachs Group Inc. to BP Plc’s in-house trading unit. Hall’s flagship Astenbeck Master Commodities Fund II lost almost 30 percent through June, a separate person with knowledge of the matter said, asking not to be identified because the details are private.
Oil trader Andy Hall is said to be closing down his main hedge fund. Bloomberg’s Alex Nussbaum reports.
“I’m shocked,” said Danilo Onorino, a portfolio manager at Dogma Capital SA in Lugano, Switzerland. “This is the end of an era. He’s one of the top oil traders ever.”
Hall shot to fame during the global financial crisis when Citigroup Inc. revealed that, in a single year, he pocketed $100 million trading oil for the U.S. bank. His career stretches back to the 1970s and includes stints at BP and legendary trading house Phibro Energy Inc., where he was chief executive officer.
“Andy Hall is one of the grandees of oil trading,” said Jorge Montepeque, a senior vice president of trading at Italian energy major Eni SpA.
A representative of Astenbeck Capital Management LLC declined to comment. The Southport, Connecticut-based company managed $1.4 billion at the end of last year, according to a Securities and Exchange Commission filing.
Hall is the latest high-profile commodity hedge-fund manager to succumb to the industry’s low volatility and lack of trending markets. At least 10 asset managers in natural resources have closed since 2012, including Clive Capital LLP and Centaurus Energy LP. Goldman Sachs reported its worst-ever result trading commodities in the second quarter.
Oil hedge funds such as Astenbeck wagered earlier this year that production cuts led by Saudi Arabia and Russia would send prices climbing. Yet, their betsbackfired as U.S. shale producers boosted output and Libya and Nigeria recovered from outages caused by domestic disturbances and civil war.
Against Tide
Hall consistently pushed against the bearish tide on oil this year, using investor letters to cast doubt on data showing rising crude supplies and arguingthat a sustained rally was on its way.
Then last month he changed tack, telling investors that the global crude market had “materially worsened” and that prices may be stuck around $50 a barrel or below. Brent crude fell 22 percent from the start of the year to a low in June, and though it has since rallied, it’s still only about $52.
The fund closure shows “how the world of forecasting the oil market changed after the shale revolution,” said Anas Alhajji, an independent analyst and former chief economist at private-equity group NGP Energy Capital Management LLC.
Hall, 66, is also a prodigious collector of art who, with his wife and their foundation, owns more than 5,000 pieces by several hundred artists including Andy Warhol and Joseph Beuys. They exhibit some of it at Schloss Derneburg, a 1,000-year-old castle in Germany they bought in 2006.
“This is sad news,” said Jean-Jacques Duhot, chief investment officer at Arctic Blue Capital, a commodity trading adviser with nearly $200 million in assets. “Andy Hall has been one of the most respected risk-takers in the energy markets over the past few decades.”
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

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09-08-2017, 09:58 PM, (This post was last modified: 09-08-2017, 09:58 PM by weijian.)
Post: #1215
RE: Oil Prices
To us (an individual), oil prices mean the pain of a loss of an oil related stock or job, or simply the joy of cheaper petrol at the pump. For some Arab countries, it could mean a cut in subsidies and less prosperity as a whole. For Venezuela, it is spiraling into a life and death situation.

The worsen case scenario of civil war looks highly probable for Venezuela now. What about the odds of a 2nd Arab Spring? (the odds should be substantially higher compared to previous now)

Chevron, Total Pull Foreign Staff in Venezuela

Political crisis fueling violence in nation reliant on crude
Statoil also says it’s removed all remaining expatriate staff

https://www.bloomberg.com/news/articles/...-venezuela

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