huat8888
Top 4 Reasons to Re-look Petron Malaysia (3042)
1. Improving Gasoline crack spread margin
2. Brent oil uptrend, so there will be potential inventory gain
3. Gov’t approves commission increase for petrol dealers
The government says that the new weekly retail price mechanism for petroleum products will not only benefit the consumer but also petrol station operators.
In a statement announcing the retail prices of fuel for the first wk of january, finance minister Lim Guan Eng said that the new pricing structure takes into account the additional commission or gas station operator margin for dealers, which was approved by the cabinet earlier this week.
Source: https://paultan.org/2019/01/04/govt-approves-commission-increase-for-petrol-dealers/
4. Maintenance is over and thus better production compare to last quarter.
Note: Just for sharing purpose, any fedback is welcomed.
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Discussions
3 people like this. Showing 6 of 6 comments
The biggest loser from IMO 2020 is PetronM
why?
its crude is of a much sweeter grade selling at a premium to brent
since the premium is getting bigger day by day...the above crack spread is not representative at all
further, i think the crack spread chart is against dubai crude (which is increasingly selling at a discount to Brent)
and the average spread on your chart for Q1 2019 does not look any better than Q4 2018
what inventory gain for PetronM ? when it keeps such a small inventory!
and mainly producing Fuel Oil (going to be worthless soon)
...................
only thing great about Petron is its retail which is probably growing rapidly....or is it ''was" growing rapidly?
lets not mislead with such simple charts
............................................
2019-03-22 19:06
remember IMO 2020 has the potential implication of closing down Simple refiners
2019-03-22 19:08
raider says u slowly accumulate hengyuan...bcos its refinery highly cost efficient mah....!!
2019-03-24 13:22
IMO 2020 is bad for simple refiners processing sour crude. But Petron processes the sweetest of them all, Tapis crude. IMO 2020 forbids any fuel above 0.5% Sulphur content. Typical sulphur content of TapİS crude is 0.04%. It's best rethink the risk of IMO 2020. Chances are, no impact as the resultant fuel oil is IMO 2020 compliant, or minimal impact as the sulphur is low enough to remove cheaply. If anyone goes to AGM, this is a good question to ask management.
2019-04-07 14:45
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2019-03-22 14:29