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Lucky03 Elite	14-May-2015 17:53        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Will companies like Ezra has any chance to participate in any opportunities in such development where the Middle East are looking to Asia to replace their traditional western partners ? Abu Dhabi Pivots for Asian Partners in $22 Billion Oil Push By Anthony Dipaola - 14 May 2015 5:19:06 pm Abu Dhabi, with 6 percent of global crude reserves, selected GS Energy Corp. of South Korea to join Japan?s Inpex Corp. as the second Asian partner in the Persian Gulf emirate?s biggest onshore oil concession. GS Energy secured a 3 percent stake for 40 years in the venture, it said in a statement. Another South Korean company, Korea National Oil Corp., said it will provide technical support to GS Energy in the project. State-owned Abu Dhabi National Oil Co confirmed the award Wednesday. Inpex won a 5 percent stake in the venture last month. Abu Dhabi is seeking new partners to replace some of the Western companies that pumped oil in the emirate for 75 years until their last production agreement expired in 2014. Adnoc picked Total SA of France for a 10 percent stake in the concession in January. By also selecting Inpex and now GS Energy, Abu Dhabi is for the first time opening its biggest onshore producing fields to investment from companies in Asia, the biggest market for the emirate?s crude. ?Asian oil companies have been trying to increase security of supply by buying into production overseas,? Victor Shum, vice president at IHS Inc.?s Asian energy consulting business, said by phone from Singapore. ?Middle East producers want to increase demand security, so this meets the needs of both.? Historical Partners Abu Dhabi, the largest emirate in the United Arab Emirates, has pumped crude oil from its onshore fields under agreements with Total, BP Plc, Exxon Mobil Corp., Royal Dutch Shell Plc and Portugal?s Partex Oil & Gas -- or their predecessors -- since January 1939. Adnoc joined the group in the 1970s, forming the partnership that extracted Murban crude, the U.A.E.?s main blend, until the concession agreement expired in January 2014. Total is so far the only legacy partner to have retained a share in the onshore areas. Exxon Chief Executive Rex Tillerson said in March that his company decided against bidding because the fields are ?low margin.? Shell submitted a revised bid for a 10 percent stake, two people with knowledge of the matter said in February. BP has declined to comment on the bidding process. Some bids from international oil companies didn?t meet Adnoc?s conditions, the state producer said in an April 20 statement citing comments by Director General Abdulla Nasser Al Suwaidi. He didn?t identify any of the companies. $670 Million GS Energy agreed to pay Adnoc a signing bonus of $670 million, according to a regulatory filing in Seoul. State-run Korea National Oil has the right to buy as much as 30 percent of GS Energy?s stake over the next five years, Joo Hyoung In, a KNOC spokesman based in Ulsan, South Korea, said Wednesday by phone. The Korean companies will gain access to about 50,000 barrels of crude a day, GS Energy said. Their contract will be dated from January 2014, according to Adnoc. ?Bringing in Asian companies, who often have a somewhat lower cost base, puts pressure on the big Western majors and mid-size firms to provide maximum value and technology at the lowest possible cost,? said Samuel Ciszuk, a supply researcher at the Swedish Energy Agency. Abu Dhabi is raising production capacity amid a crude glut that contributed to a price collapse of almost 50 percent last year. The Organization of Petroleum Exporting Countries, of which the U.A.E. is the third-largest producer, plans to meet June 5 to assess the market after leaving its output ceiling unchanged in November. Brent crude, a global benchmark, fell as much as 0.7 percent Thursday and was trading at $66.62 a barrel at 9:43 a.m. in London. Adnoc is spending about $22 billion to increase capacity for onshore oil and gas production and exports, Omar Suwaina Al Suwaidi, the company?s deputy director for strategy, said Nov. 11. Onshore crude-production capacity will reach 1.8 million barrels a day in 2017 compared with 1.6 million currently, Adnoc has said previously. Abu Dhabi plans to boost its total production capacity, onshore and offshore, to 3.5 million barrels a day in 2017 from about 3 million now.
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Lucky03 Elite	14-May-2015 11:53        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I prefer price stability to wild swing. Of course an overall recovery up trend will be good. Qanghoo      ( Date: 14-May-2015 08:24) Posted: WTI to reach 66 n Brent 73USD by 1 Jul 15 anyone? Jimmykohkk      ( Date: 14-May-2015 03:41) Posted:
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Qanghoo Supreme	14-May-2015 08:24        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	WTI to reach 66 n Brent 73USD by 1 Jul 15 anyone? Jimmykohkk      ( Date: 14-May-2015 03:41) Posted:
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Jimmykohkk Master	14-May-2015 03:41        Jimmykohkk About Contact  Quote this Post!
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Lucky03 Elite	14-May-2015 01:31        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Kuwait stops production in 200,000 barrel-a-day oil fields Associated Press 25 mins ago KUWAIT CITY (AP) -- Kuwait's oil minister says the country will shut down production for at least two weeks at the Wafra oil fields that produce around 200,000 barrels a day. Ali al-Omair says time of the resumption of production in the fields will be decided after two weeks of "maintenance." He spoke to the state-run Kuwait News Agency on Wednesday during a visit to neighboring Qatar. The Wafra fields, which lie in a neutral zone between Saudi Arabia and Kuwait, are jointly operated and developed by the two countries. Industry experts and local newspapers say the closure may also have been prompted by a dispute between the Gulf-allied nations over oil firm operators in the fields.
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CalvinChia888 Master	14-May-2015 01:25        CalvinChia888 About Contact  Quote this Post!   Yells: "Pay It Forward Analyze The Analysts"
x 0   x 0  Alert Admin	Yes, Yes. Any O & G stocks, my guess : can buy or   just buy  whether Ezion or Ezra or KepCorp or Sembcorp or Ottomarine or SHS or Kepcorp or Tech Oil   & Gas... my suggestion : all can buy Even not very closely related O & G stocks like shipyard such as YZJ or Cosco and of course conglomerates like Kepcorp or Sembcorp all worth buying   DYODD    Lucky03      ( Date: 14-May-2015 01:18) Posted: Crude Futures Rise on Weaker Dollar as Inventories Drop Again By Moming Zhou and Mark Shenk - 13 May 2015 10:38:26 pm Crude futures rose for a second day as the U.S. dollar weakened to a four-month low, boosting oil?s investment appeal, while inventories fell again. Gains for New York-traded oil futures lagged behind Brent after U.S. refineries reduced their crude use by the most in almost four months. Oil has rebounded from a six-year low in March as U.S. companies cut the number of active rigs to the fewest since September 2010, bolstering speculation that output will slow. Both OPEC and the International Energy Agency revised up demand estimates for the year. ?The oil market has been trading on the data and the dollar this week,? Rob Thummel, a managing director and portfolio manager at Tortoise Capital Advisors LLC in Leawood, Kansas, who helps manage $16.9 billion, said by phone. ?As the dollar has weakened, you?ve seen the oil market react as you would expect.? Brent for June settlement, which expires Thursday, increased $1.24, or 1.9 percent, to $68.10 a barrel at 12:40 p.m. New York time on the London-based ICE Futures Europe exchange. The European benchmark crude traded at a premium of $6.76 to WTI, up from $6.11 on Tuesday. WTI for June delivery rose 56 cents to $61.31 a barrel on the New York Mercantile Exchange after earlier climbing as much as 1.8 percent. The volume of all futures traded was about 11 percent above the 100-day average for the time of day. Biggest Drop The Bloomberg Dollar Spot Index fell as much as 1 percent after a report showed sales at U.S. retailers were little changed in April. ?The dollar is breaking down and it?s supportive for oil,? said Bill O?Grady, chief market strategist at Confluence Investment Management in St. Louis, which oversees $3.4 billion. ?We actually saw a decline in refining activity and that?s surprising.? Refineries used 16.3 million barrels a day of crude last week, down from 16.6 million the previous week, the Energy Information Administration said in a report on Wednesday. That was the biggest drop since Jan. 16. Plants operated at 91.2 percent of their capacity, down from 93 percent. Analysts surveyed by Bloomberg had expected a gain of 0.5 percentage point. ?The downtick in the refinery utilization could allow oil inventories to rebuild in the coming weeks,? said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. ?That was a bit of a surprise.? Crude stockpiles decreased by 2.19 million last week to 484.8 million. Analysts surveyed by Bloomberg had forecast a drop of 250,000. Stockpiles at Cushing, Oklahoma, the delivery point for WTI futures, slid by 990,000 to 60.68 million. ?Priced In? The American Petroleum Institute was said to have reported Tuesday that inventories dropped by 2 million barrels and Cushing supplies fell by 827,000, according to ForexLive. The EIA report ?pretty much dovetails with the API numbers,? O?Grady said. ?It?s already been priced in.? U.S. crude production was 9.37 million barrels a day last week, according to EIA estimates. That?s down from 9.42 million on March 20, the highest level in weekly data going back to 1983. U.S. shale oil producers seem to have ?blinked? in their ?supposed standoff? with the Organization of Petroleum Exporting Countries and the ?relentless rise in U.S. supply seems to be finally abating,? the IEA said in a monthly report Wednesday. The IEA increased its 2015 estimate for global oil demand by 50,000 barrels a day. OPEC raised its forecast for daily global oil demand this year by 10,000 barrels to 92.5 million, according to a report on Tuesday. More articles on Oil
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Lucky03 Elite	14-May-2015 01:18        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Crude Futures Rise on Weaker Dollar as Inventories Drop Again By Moming Zhou and Mark Shenk - 13 May 2015 10:38:26 pm Crude futures rose for a second day as the U.S. dollar weakened to a four-month low, boosting oil?s investment appeal, while inventories fell again. Gains for New York-traded oil futures lagged behind Brent after U.S. refineries reduced their crude use by the most in almost four months. Oil has rebounded from a six-year low in March as U.S. companies cut the number of active rigs to the fewest since September 2010, bolstering speculation that output will slow. Both OPEC and the International Energy Agency revised up demand estimates for the year. ?The oil market has been trading on the data and the dollar this week,? Rob Thummel, a managing director and portfolio manager at Tortoise Capital Advisors LLC in Leawood, Kansas, who helps manage $16.9 billion, said by phone. ?As the dollar has weakened, you?ve seen the oil market react as you would expect.? Brent for June settlement, which expires Thursday, increased $1.24, or 1.9 percent, to $68.10 a barrel at 12:40 p.m. New York time on the London-based ICE Futures Europe exchange. The European benchmark crude traded at a premium of $6.76 to WTI, up from $6.11 on Tuesday. WTI for June delivery rose 56 cents to $61.31 a barrel on the New York Mercantile Exchange after earlier climbing as much as 1.8 percent. The volume of all futures traded was about 11 percent above the 100-day average for the time of day. Biggest Drop The Bloomberg Dollar Spot Index fell as much as 1 percent after a report showed sales at U.S. retailers were little changed in April. ?The dollar is breaking down and it?s supportive for oil,? said Bill O?Grady, chief market strategist at Confluence Investment Management in St. Louis, which oversees $3.4 billion. ?We actually saw a decline in refining activity and that?s surprising.? Refineries used 16.3 million barrels a day of crude last week, down from 16.6 million the previous week, the Energy Information Administration said in a report on Wednesday. That was the biggest drop since Jan. 16. Plants operated at 91.2 percent of their capacity, down from 93 percent. Analysts surveyed by Bloomberg had expected a gain of 0.5 percentage point. ?The downtick in the refinery utilization could allow oil inventories to rebuild in the coming weeks,? said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. ?That was a bit of a surprise.? Crude stockpiles decreased by 2.19 million last week to 484.8 million. Analysts surveyed by Bloomberg had forecast a drop of 250,000. Stockpiles at Cushing, Oklahoma, the delivery point for WTI futures, slid by 990,000 to 60.68 million. ?Priced In? The American Petroleum Institute was said to have reported Tuesday that inventories dropped by 2 million barrels and Cushing supplies fell by 827,000, according to ForexLive. The EIA report ?pretty much dovetails with the API numbers,? O?Grady said. ?It?s already been priced in.? U.S. crude production was 9.37 million barrels a day last week, according to EIA estimates. That?s down from 9.42 million on March 20, the highest level in weekly data going back to 1983. U.S. shale oil producers seem to have ?blinked? in their ?supposed standoff? with the Organization of Petroleum Exporting Countries and the ?relentless rise in U.S. supply seems to be finally abating,? the IEA said in a monthly report Wednesday. The IEA increased its 2015 estimate for global oil demand by 50,000 barrels a day. OPEC raised its forecast for daily global oil demand this year by 10,000 barrels to 92.5 million, according to a report on Tuesday. More articles on Oil
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PanicTrader Member	13-May-2015 20:20        PanicTrader About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hope EZRA can scale back to above 50c soon
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pnuklis Master	13-May-2015 18:34        pnuklis About Contact  Quote this Post!
x 0   x 0  Alert Admin	So what? for increase of $2 on crude do you want oil companies to start deep water for LL?
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danger Supreme	13-May-2015 10:32        danger About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 1  Alert Admin	MASSIVE OIL RALLY !!!! WTI CRUDE : $61.25 BRENT CRUDE : $67.20
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Lucky03 Elite	13-May-2015 07:40        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Oil Gains The drop in Treasuries had stabilized last week before resuming Monday amid selling in Europe. Those losses spread to Asia Tuesday, with Japanese 10-year yields rising five basis points to 0.44 percent. German yields have advanced in 11 of the past 12 sessions, climbing 52 basis points to 0.68 percent. West Texas Intermediate crude climbed a second day, adding 0.8 percent to $61.25 a barrel, set for its highest close since Dec. 9. U.S. inventories shrank by 2 million barrels through May 8, the second weekly decline in industry data, the American Petroleum Institute was said to have reported before official government data Wednesday. The Organization of Petroleum Exporting Countries raised its 2015 consumption estimate in a monthly report Tuesday.
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Jimmykohkk Master	13-May-2015 00:22        Jimmykohkk About Contact  Quote this Post!
x 0   x 0  Alert Admin	haha.. wow this oil swing really like yo yo.. one moment up , the other moment down..   Lucky03      ( Date: 13-May-2015 00:18) Posted: Don't try to monitor too closely. The swing is very wild. WTI Crude is now approaching US$61 again. I prefer more stability. Jimmykohkk      ( Date: 12-May-2015 21:22) Posted: Dropping back again.. All these Yemen factor are just excuse from traders to pump and then dump. Fundamentally, there is still  oversupply as USA shale oil restart production due to the recent rally. So in the end, oil price will drop back again until the USA shale oil stop again. Saudi would not like to see this cycle, they want to totally kill of most of the USA shale producer, so I think Saudi will keep pressing oil price down for the next 2-3 years until USA shale is almost completely wiped off.
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Lucky03 Elite	13-May-2015 00:18        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Don't try to monitor too closely. The swing is very wild. WTI Crude is now approaching US$61 again. I prefer more stability. Jimmykohkk      ( Date: 12-May-2015 21:22) Posted: Dropping back again.. All these Yemen factor are just excuse from traders to pump and then dump. Fundamentally, there is still  oversupply as USA shale oil restart production due to the recent rally. So in the end, oil price will drop back again until the USA shale oil stop again. Saudi would not like to see this cycle, they want to totally kill of most of the USA shale producer, so I think Saudi will keep pressing oil price down for the next 2-3 years until USA shale is almost completely wiped off. Jimmykohkk      ( Date: 12-May-2015 18:31) Posted: http://www.cnbc.com/id/102669381 Brent crude futures rose on Tuesday as unrest in Yemen and a weaker dollar helped lift prices despite worries of a supply glut after Saudi Arabia reported strong production for April and Goldman Sachs warned of further oil price declines.   This type of spike temporary one. The fundamental problem of oversupply is still there. Be careful
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Jimmykohkk Master	12-May-2015 21:22        Jimmykohkk About Contact  Quote this Post!
x 0   x 0  Alert Admin	Dropping back again.. All these Yemen factor are just excuse from traders to pump and then dump. Fundamentally, there is still  oversupply as USA shale oil restart production due to the recent rally. So in the end, oil price will drop back again until the USA shale oil stop again. Saudi would not like to see this cycle, they want to totally kill of most of the USA shale producer, so I think Saudi will keep pressing oil price down for the next 2-3 years until USA shale is almost completely wiped off. Jimmykohkk      ( Date: 12-May-2015 18:31) Posted: http://www.cnbc.com/id/102669381 Brent crude futures rose on Tuesday as unrest in Yemen and a weaker dollar helped lift prices despite worries of a supply glut after Saudi Arabia reported strong production for April and Goldman Sachs warned of further oil price declines.   This type of spike temporary one. The fundamental problem of oversupply is still there. Be careful
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Jimmykohkk Master	12-May-2015 18:31        Jimmykohkk About Contact  Quote this Post!
x 0   x 0  Alert Admin	http://www.cnbc.com/id/102669381 Brent crude futures rose on Tuesday as unrest in Yemen and a weaker dollar helped lift prices despite worries of a supply glut after Saudi Arabia reported strong production for April and Goldman Sachs warned of further oil price declines.   This type of spike temporary one. The fundamental problem of oversupply is still there. Be careful
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halleluyah Supreme	12-May-2015 18:23        halleluyah About Contact  Quote this Post!
x 0   x 0  Alert Admin	CRUDE OIL UP 1.09....US$60.33                                                                                                                                                                               BRENT   OIL UP 1.39....US$66.30
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Demostation Supreme	12-May-2015 16:26        Demostation About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ezra should make amends in the next few days.   Just be on the look out for a spike. Lol. KAMAL0883      ( Date: 12-May-2015 14:27) Posted: this provide a little brief for Ezra : ( KAMAL0883      ( Date: 12-May-2015 13:52) Posted: [SAN FRANCISCO] The US lost about 1 per cent of the oil production flowing from its shale formations this month, and the decline is just starting. Output from the prolific tight-rock formations such as North Dakota' s Bakken and Texas' s Eagle Ford shale will slide 54,227 barrels a day this month, based on Energy Information Administration estimates. It' ll fall another 86,000 barrels in June to a five-month low of 5.56 million, the agency said Monday. Last year' s plunge in crude prices led to the steepest and most prolonged retreat from US oil fields on record. Drillers have idled more than half the country' s rigs and eliminated tens of thousands of jobs. Some of the country' s largest shale producers including ConocoPhillips and EOG Resources Inc. have said spending cuts were deep enough to curb domestic output.
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KAMAL0883 Supreme	12-May-2015 14:27        KAMAL0883 About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	this provide a little brief for Ezra : ( KAMAL0883      ( Date: 12-May-2015 13:52) Posted: [SAN FRANCISCO] The US lost about 1 per cent of the oil production flowing from its shale formations this month, and the decline is just starting. Output from the prolific tight-rock formations such as North Dakota' s Bakken and Texas' s Eagle Ford shale will slide 54,227 barrels a day this month, based on Energy Information Administration estimates. It' ll fall another 86,000 barrels in June to a five-month low of 5.56 million, the agency said Monday. Last year' s plunge in crude prices led to the steepest and most prolonged retreat from US oil fields on record. Drillers have idled more than half the country' s rigs and eliminated tens of thousands of jobs. Some of the country' s largest shale producers including ConocoPhillips and EOG Resources Inc. have said spending cuts were deep enough to curb domestic output. Lucky03      ( Date: 12-May-2015 08:30) Posted: Let's hope Ausgroup report will be early indication that stability is returning to O&G sectors. Ausgroup swings back to black in 3Q with earnings of $2.3 mil SINGAPORE (May 11): Ausgroup, a provider of engineering and logistics services to the oil & gas, LNG and mining sectors in Aus- tralia and Southeast Asia, has returned to profitability in 3QFY2015 ended March with earnings of A$2.2 million ($2.3 million) from a loss of A$1.3 million a year ago. Revenue for the quarter came in at $86.9 million, up 18.9% from a year ago. Ausgroup said the growth in revenue seen over 1H continued in the quarter, with revenues for 9M2015 being A$336.8 million, 54.3% higher than in 9MFY2014. Maintenance services continued to con- tribute strongly to 9M2015 revenues, making up A$115.2 million, or 34% of the group?s 9M2015 revenue. Gross profit for 3QFY2015 of A$12.4 mil- lion was up 42.2% from a year ago, lifting gross margin to A$38.5 million for 9M2015. Operating expenses, comprising adminis- trative expenses, marketing and distribution expenses and operating costs, for 3QFY2015 was 3.1% lower than in 3QFY2014 and 8.6% lower for 9M2015 compared with 9M2014. Order intake for 3QFY2015 was A$120.5 million, mainly from the maintenance busi- ness, which included the award of a five- year maintenance services contract from Chevron Australia Pty Ltd. Work-in-hand for the group as at March 31 was A$498.3 million, up from A$374.3 million as at June 30, 2014, with the par- tial recognition of the award from Chevron equivalent to one-year of initial revenues. Ausgroup said uncertainty continued to dominate the oil & gas landscape, as recent low oil prices had led to a review of new capital expenditure decisions. Ausgroup closed one cent higher at 23.5 cents today. ? By P C Lee
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KAMAL0883 Supreme	12-May-2015 13:52        KAMAL0883 About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	[SAN FRANCISCO] The US lost about 1 per cent of the oil production flowing from its shale formations this month, and the decline is just starting. Output from the prolific tight-rock formations such as North Dakota' s Bakken and Texas' s Eagle Ford shale will slide 54,227 barrels a day this month, based on Energy Information Administration estimates. It' ll fall another 86,000 barrels in June to a five-month low of 5.56 million, the agency said Monday. Last year' s plunge in crude prices led to the steepest and most prolonged retreat from US oil fields on record. Drillers have idled more than half the country' s rigs and eliminated tens of thousands of jobs. Some of the country' s largest shale producers including ConocoPhillips and EOG Resources Inc. have said spending cuts were deep enough to curb domestic output. Lucky03      ( Date: 12-May-2015 08:30) Posted: Let's hope Ausgroup report will be early indication that stability is returning to O&G sectors. Ausgroup swings back to black in 3Q with earnings of $2.3 mil SINGAPORE (May 11): Ausgroup, a provider of engineering and logistics services to the oil & gas, LNG and mining sectors in Aus- tralia and Southeast Asia, has returned to profitability in 3QFY2015 ended March with earnings of A$2.2 million ($2.3 million) from a loss of A$1.3 million a year ago. Revenue for the quarter came in at $86.9 million, up 18.9% from a year ago. Ausgroup said the growth in revenue seen over 1H continued in the quarter, with revenues for 9M2015 being A$336.8 million, 54.3% higher than in 9MFY2014. Maintenance services continued to con- tribute strongly to 9M2015 revenues, making up A$115.2 million, or 34% of the group?s 9M2015 revenue. Gross profit for 3QFY2015 of A$12.4 mil- lion was up 42.2% from a year ago, lifting gross margin to A$38.5 million for 9M2015. Operating expenses, comprising adminis- trative expenses, marketing and distribution expenses and operating costs, for 3QFY2015 was 3.1% lower than in 3QFY2014 and 8.6% lower for 9M2015 compared with 9M2014. Order intake for 3QFY2015 was A$120.5 million, mainly from the maintenance busi- ness, which included the award of a five- year maintenance services contract from Chevron Australia Pty Ltd. Work-in-hand for the group as at March 31 was A$498.3 million, up from A$374.3 million as at June 30, 2014, with the par- tial recognition of the award from Chevron equivalent to one-year of initial revenues. Ausgroup said uncertainty continued to dominate the oil & gas landscape, as recent low oil prices had led to a review of new capital expenditure decisions. Ausgroup closed one cent higher at 23.5 cents today. ? By P C Lee
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Lucky03 Elite	12-May-2015 08:30        Lucky03 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Let's hope Ausgroup report will be early indication that stability is returning to O&G sectors. Ausgroup swings back to black in 3Q with earnings of $2.3 mil SINGAPORE (May 11): Ausgroup, a provider of engineering and logistics services to the oil & gas, LNG and mining sectors in Aus- tralia and Southeast Asia, has returned to profitability in 3QFY2015 ended March with earnings of A$2.2 million ($2.3 million) from a loss of A$1.3 million a year ago. Revenue for the quarter came in at $86.9 million, up 18.9% from a year ago. Ausgroup said the growth in revenue seen over 1H continued in the quarter, with revenues for 9M2015 being A$336.8 million, 54.3% higher than in 9MFY2014. Maintenance services continued to con- tribute strongly to 9M2015 revenues, making up A$115.2 million, or 34% of the group?s 9M2015 revenue. Gross profit for 3QFY2015 of A$12.4 mil- lion was up 42.2% from a year ago, lifting gross margin to A$38.5 million for 9M2015. Operating expenses, comprising adminis- trative expenses, marketing and distribution expenses and operating costs, for 3QFY2015 was 3.1% lower than in 3QFY2014 and 8.6% lower for 9M2015 compared with 9M2014. Order intake for 3QFY2015 was A$120.5 million, mainly from the maintenance busi- ness, which included the award of a five- year maintenance services contract from Chevron Australia Pty Ltd. Work-in-hand for the group as at March 31 was A$498.3 million, up from A$374.3 million as at June 30, 2014, with the par- tial recognition of the award from Chevron equivalent to one-year of initial revenues. Ausgroup said uncertainty continued to dominate the oil & gas landscape, as recent low oil prices had led to a review of new capital expenditure decisions. Ausgroup closed one cent higher at 23.5 cents today. ? By P C Lee
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