Palm Oil Prices & Plantation Shares
Plantation shares end mixed in the region Tuesday (Sept 22) even though crude palm oil (CPO) advanced in the futures and physical market. Some investors were concerned about persistent volatility of the commodity after moving in wide range in the past two weeks.
Abadi LNG Project: Floating LNG vs Gas Pipeline
Development of the giant Masela Block offshore Maluku province might enter a new dynamic. Coordinating minister for maritime and resources affairs Rizal Ramli suggested Inpex/Shell to build gas pipeline instead of a floating liquefied natural gas (LNG).
Volatility of Commodities (3)
After losing more than 3% late last week, the benchmark December 2015 contracts of crude palm oil (CPO) gained almost 2% this morning. January 2016 contracts also regained RM37 to RM2177 per ton on the Bursa Malaysia Derivatives Monday (Sept 21).
Revival of M&A: MBO on Martabe Gold
After long period of pause due to global and domestic slowdown, some investors have returned to the merger & acquisition table. This time, they’re targeting Martabe gold mine in North Sumatra province, one of the fastest growing gold mines in Indonesia, which is currently controlled by HKSE-listed G-Resources Limited.
Volatility of Commodities (2)
Crude palm oil (CPO) lost another 3% in the futures market Thursday after dropping 2% on Wednesday. The commodity gained 10% before the corrections. WTI crude oil, meanwhile, retreated to below US$47 per barrel after the Fed left its interest rates unchanged.
Volatility of Commodities
WTI crude oil spiked 5.6% to US$47.07 per barrel on Nymex Wednesday (Sept 16) despite competing stories surrounding the commodity. Some media outlets highlighted ‘crude oil production outpaces consumption growth’ or ‘crude oil prices are trading in a downward trending range’, while others pointed to ‘US crude supplies mark first fall in 3 weeks’ or ‘US crude stockpile drop ahead of Fed’.
Oil & Gas Deficit
Indonesia recorded trade deficit of US$577 million in oil and gas last month, down 33.8% from July. That means deficit in oil and gas trading dropped 46.7% to US$4.58 billion in the first eight months of 2015. This is pretty good in the short-medium term because of the falling prices of oil. The Country, however, still confronts bigger medium-long term problems…
Coal Journal: China Data
Shares of coal-related companies end mixed in the region. Adaro Energy gained 1.8% in Jakarta, while BHP Billiton lost 1.31% in Sydney. Indika Energy lost 3% in Jakarta, while Rio Tinto fell 2.2% in Sydney. But, Adaro, Indika, and other major coal producers are not the ones heavily traded. It is Sekawan Intipratama (SIAP) with volume close to 1 billion shares. For whatever reason, SIAP has been traded heavily since late last year.
Oil & Gas Journal
Special Task Force for Oil and Gas (SKKMigas) has approved revision of plan of development (PoD) for Abadi LNG project developed by Inpex (Japan) and Shell (UK). Final decision is now in the hands of minister of energy & mineral resources Sudirman Said.
Rally of CPO & Plantation Shares
KPB Nusantara, the joint marketing office of state plantations, sold all of five CPO packages auctioned off Monday (Sept 14) at Rp6783-6918 per Kg (VAT 10% included), significantly higher than last Friday’s pricing to tracking rallies in the futures market.