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Oil & Gas - Sector
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Dear Baorders,
I have posted highly investigative article "US- A Nation on the Grill". There are many questions like instead of such mesmerizing troubles in USA, why $ is going up and Gold/Oil going down (Gold went up only yestersay)
WHAT THE HELL IS GOING ON is the subtitile of my article. Please visit my website http: //anilselarka.wordpress. com (remove the blank space)
Following are the few paragraphs of myarticle. Since it contains many graphics, it may take little more to load.o have the patience.
Quote:
Oil down, Dollar up, Gold Down
What the Hell is Going On?
A true nature of a person or nation comes to the fore, when it comes under extreme duress. A bankrupt person, corporation or a nation tries very hard to project itself as a person of extra ordinary means, contrary to facts, figures and market rumors, and go on shopping spree.
This is why billions of dollars are being paid by one bankrupt bank or corporation to the other in take over process lasting only a few hours. No due diligence, no submission of bid to the board, No minority interest, no news out – just black out.
Today’s scenario reflects “blind game”. No one knows about self or other party. The suitor does not know what he has, and the target does not know what it is worth. The vultures circling on the prey, ask for $700 billions with no questions asked.
The President of United States, Senators, and Congressmen are stunned at the attack of unknown origin and extreme brutality. This is an act of extortion of $700 billions. Call it “Blackmail of Greenback” if you like.
With worsening scenario being played out every day, no one in right mind will ever buy US dollar. Look at the box under Dollar Up and consider the following:
• Fannie/Freddie Mae got $200 Bln,
• AIG $85 Bln,
• JP Morgan got $59 billions ($30 Bln for taking over Bear Sterns and $29 Bln given to Bear Stearns itself),
• Washington Mutual Bank (WaMu) was given $230 Bln in last 3 months, all zero now,
• $673 Blns flooded into the market on Dow’s fateful day losing 778 points, and
• Billions of others not yet declared but given to host of banks, brokers and investment banks.
• $700 billions are now planned to be spent to buy the rotten and Zero value assets of the bankrupt banks.
• Bernanke opened up the empty treasury and also opened up largest currency printing press in the world, working 247365 or 24 x 7 x 365 (24 hours a day, 7 days a week and all 365 days a year) Never before in the history of United States, the dollar was printed with such intensity and also disappearing with the speed of hurricane category 6 into a giant black hole
No foreigner in right frame of his mind would at this point of time buy US dollar against his own currency, be it Euro, Pounds, Yen, Yuan, Aussie Dollar or any damn local currency.
With Dow falling, bonds collapsing, properties dumping, interbank dealing sine die, who is buying the US dollar? Why Euro, the most alternative currency for US dollar is falling, when it should have gone to almost magic 2.00 figure?
If any foreigner wants to buy stocks or bonds or $ class assets, he has to sell his own currency and buy $. Then only $ could go up. But when the foreigners are not buying $, in fact they are dumping dollar assets. In that case who is buying this bankrupt dollar?
About 10 years ago, whenever Dow rose, dollar also used to rise, because foreigners have to buy $ first before buying stocks or bonds. For the last 5 years, especially in last 3 years, dollar is falling while the Dow and Bond rising. This means that there is no demand for $ from overseas, it is only from within. The dollar so printed by FED is being used to manage (or manipulate) various sensitive commodities like Oil and other foreign currencies like Euro.
Who is Buying Dollars, Why and How?
Of course, the Americans by themselves. Not the ordinary resident Americans. They are just naïve and innocent law abiding citizens. The crooks are in the corporate world.
Some US institutions, in US and newly floated off shore corporate entities, under the ostensible authority from US administration, are now buying US$ index and shorting Oil heavily on NYMEX. They appear to have been commissioned to search and destroy the vicious circle of oil price rise which is the major cause of inflation.
This is similar to the practice being adopted during the days of Clinton Administration when the Rupert Rubin was the Treasury Secretary. He was a proponent of strong dollar policy, and during his administration, the Asian crisis unfolded, Enron was created and busted, LTCM with over $1 trillions of exposure to the market was bankrupted. His policies and practice were known as “Rubinomics”. He engineered the rescue package for LTCM with the help of local and foreign banks and brokers, raising $ 3.6 billions .....
The article is long; contains charts and flow diagram, please visit my blogsite.
Kalidas, Hong Kong
7-10-2008...
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Watch OIL as it is expetced to touch soon 86 level.
We said before one month here that oil if goes below 100 then it will touch 94 and then next level 86.
Works economic crisis and less buying power will crunch oil boom to oil crisis economy. But it will not affect oil producing countries as they have enough funds with high oil prices and they do not know how to invest funds....
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Oil Falls More Than A Dollar To Below $93 A Barrel...
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The November crude contract fell $2.11 to settle at $98.53 on Wednesday. Light, sweet crude for November delivery fell $4.56 to settle at $93.97 a barrel on the New York Mercantile Exchange.
One time level of 86 $ is expected ...
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Oil Firms ONGC, IOC, HPCL, BPCL GAIN 1-3 % On Hopes Of Lower Subsidy Burden...
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Oil drops below $100
Renewed fears that global economic weakness will crimp demand send futures down more than $8 a barrel....
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US crude fell $3.10 to $104.92 a barrel by 0932 GMT, while London Brent crude traded down $2.84 to $101.76. ...
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Oil falls below $107 on doubts over USA rescue plan...
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CRUDE OIL: Prices fell marginally Wednesday on expectations that the global
economy may continue to slow amid rising uncertainty, that could reduce demand.
Traders overlooked the fall in crude inventories in the week to Sep 19
detailed by the Energy Department\'s Energy Information Administration.
Inventories fell to 290.2 mln barrels, down 1.5 mln barrels from the
previous week.
--NYMEX November futures (a barrel): $105.73 Wed vs $106.61 Tue....
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RIL stock falls on gas output delay.
The share price of Reliance Industries fell by 0.72 per cent on Monday to close at Rs 2,037 after the company announced on Sunday that the company would start pumping natural gas from the KG Basin in the January-March quarter, which is within the broad target of the company but later than the government\\`s forecast that production would begin by November
Though the company later explained that the delay in gas production is because of tough weather conditions and a tight supply chain, the stock failed to enthuse investors. This is even after RIL Chairman Mukesh Ambani\\`s announcement yesterday that oil has started flowing in from the Krishna-Godavari basin and teh total hyderocarbon output from teh block would raise to 550,000 barrels of oil equivalent a day (boed) in six to eight quarters.
According to independent equity advisor S P Tulsian, the stock did not get much boost as Mukesh Ambani said nothing new by announcing RIL’s crude generating capacity. “The markets were also expecting RIL to start gas production at the KG basin this month, which will now be delayed by over four months,” he said.
Tulsian further said that production of 5,000 barrels of oil per day can give RIL an annual revenue of close to Rs 800 crore, calculated at 0 per barrel, with an exchange rate of Rs 45 per dollar.
Thus, in FY09, RIL may have a top line contribution of Rs 500 crore from the KG basin oil production, which may result in profit after tax of Rs 200 crore, considering the company’s 90 per cent market share in the country. There may be no earning to the company from gas in FY09.Bs Reporter
v.krishnamoorthy...
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NEW YORK -- Oil prices jumped more than $20 a barrel Monday in biggest dollar jump ever as the dollar falls following the government's $700 billion Wall Street bailout plan.
Oil surged $22.46 to $127.01 a barrel, after reaching as high as $128.55 - a $24 gain - at these levels it will be oil's biggest gain ever in dollar terms.
The rally reached a fevered pitch as the session neared its close, partly due to the fact that Monday is the last day of trading in the October oil futures contract, which typically results in volatile trading.
As of Tuesday, the front-month contract will be November. That contract showed prices up $6.44 to $109.19 a barrel.
"The biggest news is that people are looking at the $700 billion plan as supportive of demand, supportive of the economy," said Peter Beutel. "Everything we are looking at right now says demand has a chance to come back if the economy starts to strengthen."
In addition, a handful of supply disruptions jolted the oil market's late-afternoon rally. Refinery capacity in the Gulf Coast was still limited post- Hurricane Ike, violence in oil-rich Nigeria, and chatter of Saudi Arabia trimming production added fire to the rally, according to Andrew Lebow, a broker at MF Global.
As the price of oil is whipsawed by demand worries, Wall Street's flailing crisis, investors are having a hard time grasping oil's next move. "Traders are trying to catch knives people are throwing from the top of buildings," said Lebow.
Electronic trading of oil was halted for five minutes on Globex this afternoon following the $10 spike in oil, but trading has now resumed.
...
In reply to:
Oil spikes as bailout crushes dollar
Posted by :
sambala
Oil soars past $127 a barrel, up $23 in one day, it's largest dollar-jump ever, as dollar swoons 
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Oil soars past $127 a barrel, up $23 in one day, it's largest dollar-jump ever, as dollar swoons...
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buyyyyyyy call on reliance industries...stock will zoooooom... catch it if u can.....
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Oil and Natural Gas Corp (ONGC) today announced it would invest Rs 193.38 billion in oil and gas hunt during the current fiscal, and increase 10% more than its investment of Rs 176.51 billion in the previous year, reports Business Standard.
The company said that improving the reserve replacement ratio by intensifying exploratory efforts is the company`s first priority.
Followed by recovery factor, arresting decline in mature fields and expeditious development of discovered fields are the other priorities.
ONGC declared Rs 14 per share final dividend for 2007-08, which is over and above Rs 18 per share interim dividend in December.
ONGC will invest over USD 5 billion in the development of gas finds in eastern offshore Krishna Godavari basin blocks KG-DWN-98/2 and KG-OS-DW4.
The company`s overseas arm ONGC (Q, N,C,F)* Videsh is targeting 39.47 million tons of oil and oil equivalent gas from overseas properties. ONGC`s refinery subsidiary Mangalore Refinery is on track for expanding its capacity to 15 million tons by 2010.
Shares of the company gained Rs 39.75, or 3.98%, to trade at Rs 1,039. The total volume of shares traded was 107,721 at the BSE (12.46 p.m., Friday).
...
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At what level can i enter RIL? what is its supprt level?...
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