Wishing everyone a long life to share the graceful moonlight, though thousands of miles apart.

Best Wishes From,
DAVOR Management.

On Sept 07, 2020, the water distruption in Klang Valley has been restored in certain areas since yesterday and hopefully to be fully restore in all areas by today.

Please take care of our rivers. Don't simply throw your industrial waste into the river.

Crude oil futures gained on August 10, 2020 for the first time in three days after Saudi Aramco hinted at a strong demand recovery in Asia.

West Texas Intermediate crude jumped as much as 1.8%, to $41.96 per barrel. Brent crude, oil's international benchmark, climbed 1.3% to $44.98 at intraday highs.

Original Article:

https://markets.businessinsider.com/commodities/news/oil-prices-saudi-aramco-bullish-market-outlook-demand-recovery-asia-2020-8-1029487506#

Email: sales@davor.com.my

Whatsapp: +6011 - 2613 9627

Website: www.davor.com.my

Don't forget to wear mask and always sanitize your hand.

Take care of your health during this festive season.

Office Hours:

In conjunction with Hari Raya Aidiladha Holiday, our office will be closed on July 31, 2020 (Friday).

We will resume operations on August 3, 2020 (Monday).

On July 21, 2020, WTI Crude prices were surging by 3.41 percent at $42.20, while Brent Crude prices were rising by 3.28 percent on the day to $44.69.

Oil prices surged to their highest level since Saudi Arabia and Russia broke up the OPEC+ pact in early March, thanks to promising results in a coronavirus vaccine trial and the European Union reaching a historic stimulus package deal after five days of marathon talks.

Oil & Gas Update from Davor Marketing Team

Email: sales@davor.com.my

Whatsapp: +6012 - 291 9166

Website: www.davor.com.my

On May 07, 2020, Malaysia's prime minister appointed the finance chief at Petroliam Nasional Bhd (Petronas) to take over as chief executive at the state energy company, at a time when lower oil prices and the coronavirus pandemic have hit the firm's profits.
 

Tengku Muhammad Taufik Tengku Aziz, currently chief financial officer will take over from Wan Zulkiflee Wan Ariffin as Petronas CEO from July 1, the prime minister's office said.


Oil & Gas Update from Davor Marketing Team

Best Wishes from Davor Marketing Team

Email: sales@davor.com.my

Whatsapp: +6012 - 291 9166

Website: www.davor.com.my

On June 04, 2020, Malaysia Investment Bank (Maybank Kim Eng) is prejecting the Brent crude oil to hover around US$40 a barrel for the rest of the year. This is because there is still a lot of supply although demand has started to improve from May onwards, its oil and gas analyst Liaw Thong Jung said.

At the time of writing, Brent crude oil futures were trading at US$39.41, a significant recovery after having crashed to an 18-year low in April.

Original Article:
https://www.theedgemarkets.com/article/oil-hover-around-us40bbl-2020-%E2%80%94-maybank-kim-eng

Oil & Gas Update from Davor Marketing Team

Email: sales@davor.com.my

Whatsapp: +6012 - 291 9166

Website: www.davor.com.my

Office Hours:

In conjunction with Hari Raya Aidilfitri Holiday, our office will be closed on May 25 and May 26, 2020.

We will resume operations on May 27, 2020 (Wednesday).

 

On May 15, 2020, the FBM KLCI today closed 6.19 points or 0.44% higher as global crude oil price gains offered an impetus to Bursa Malaysia's oil and gas (O&G)-related shares' price and volume rises, which propelled securities trade across the bourse above nine billion units again.

Brent crude was up US$1.21, or 3.9%, at US$32.34 (RM140.71) a barrel by 0707 GMT after touching US$32.44, the highest since April 14. Brent rose nearly 7% yesterday and is heading for a 3% gain for the week after rising the previous two weeks.


Oil & Gas Update from Davor Marketing Team

On May 12, 2020, there are 3 experts told Malay Mail that the combination of a global pandemic and depressed oil prices could be the opportunity for Malaysia to reinvent and diversify its economy,

Below are the highlights:-

- AmBank Group chief economist and head of research Anthony Dass told Malay Mail that oil price was likely to remain depressed over the next few years and would force the government to find other sources of revenue to compensate.

 

- According to renowned economist Jomo Kwame Sundaram, the country should move aggressively to embrace renewable energy, singling out photovoltaic solar energy and palm oil-based biodiesel as ways forward. 

 

- As for the near term, Universiti Tun Abdul Razak (Unirazak) economist Barjoyai Bardai suggested the government re-strategise the administration to cut down on unnecessary expenditures. 

Original Article:
https://www.malaymail.com/news/malaysia/2020/05/11/weak-oil-price-amid-covid-19-pandemic-an-invitation-for-malaysia-to-reinven/1864959


Oil & Gas Update from Davor Marketing Team

Wishing from Davor Marketing Team

Oil prices have rallied as traders believe the depths of demand destruction may be coming to an end with economies beginning to reopen. But some analysts are warning that the oil price rally may be premature.

 

WTI prices have doubled from $12 to $24 in a little over a week. There is evidence that demand has bottomed out and has begun to rise from recent lows.


Contact Davor for more product information: Website: www.davor.com.my