Due to the Ukraine-Russia conflict, oil and natural gas prices have scaled multi-year highs this year as Western sanctions against major exporter Russia squeezed an already under-supplied global market. Margins for making fuels like gasoline and diesel surged worldwide, boosting the profits of oil giants, including Exxon Mobil, Chevron in US, Shell in Europe and Hibiscus Petroleum in Malaysia.
How does high oil price affect the prices of everything? The movement of everything needs transport. For example, everything in your house has to come from somewhere. Your clothes came from China and all the materials for building your house came from many factories located somewhere in the world. That is why high oil price has pushed up prices of everything and affecting everybody in the world.
Brent Crude oil price chart above:
Exxon Mobil:
HOUSTON, July 29 (Reuters) - Exxon Mobil Corp (XOM.N) on Friday posted its biggest quarterly profit ever on the back of soaring energy prices.
The top U.S. oil producer reported second-quarter net income of $17.9 billion, or $4.21 per share, an almost four-fold increase over the $4.69 billion, or $1.10 per share, it earned in the same period last year.
Chevron:
HOUSTON, April 29 (Reuters) - Chevron Corp (CVX.N) on Friday posted its highest quarterly profit in 10 years as oil and gas prices surged, and said on Friday it was looking to boost investment in natural gas on rising world demand.
Shell:
Shell Plc posted its highest quarterly earnings on record, as the company was buoyed by high oil and gas prices despite taking a $3.9 billion accounting charge on its planned exit from Russia.
Hibiscus Petroleum:
I just Googled “Hibiscus Petroleum oil production chart” and I saw the chart below.
Based on increasing oil production and higher oil price, the company should report better profit for its quarter ending June which should be announced before the end of this month.
My sole purpose of writing this article is to share my research with you. I am not asking you to buy to support the share price because the daily traded volume is 20-30 million shares. Moreover, I notice that a few big investors like to push the share price down so that they can buy it at cheaper prices. In any case, investors should wait patiently for the company’s profit announcement for the quarter ending June which should be announced before the end of this month.
Chart | Stock Name | Last | Change | Volume |
---|
Created by Koon Yew Yin | Oct 30, 2024
Latest poll on 30th Oct 2024
Created by Koon Yew Yin | Oct 30, 2024
Latest poll on 30th Oct 2024
Created by Koon Yew Yin | Oct 25, 2024
The group is expected to deliver better profits and revenue from its pipe coating, engineering, and bioenergy segments.
Created by Koon Yew Yin | Oct 14, 2024
Today I read the article by Murray Hunter titled “A Visit to the Malaysian Communist Party tunnels in Betong, Thailand”, which is an important part of Malaysia’s history.
Created by Koon Yew Yin | Oct 04, 2024
KSL is still the cheapest based on a 4.4 PE ratio, which means its share price should continue to go up. Unfortunately, there are a few small investors who always queue to sell at cheaper prices...
Created by Koon Yew Yin | Oct 04, 2024
KSL is still the cheapest based on a 4.4 PE ratio, which means its share price should continue to go up. Unfortunately, there are a few small investors who always queue to sell at cheaper prices...
Created by Koon Yew Yin | Sep 06, 2024
Water pollution is a huge challenge for freshwater in the UK, impacting our rivers, streams, and lakes and the wildlife that call them home.
Created by Koon Yew Yin | Sep 03, 2024
State housing and local government committee chairman Datuk Mohd Jafni Md Shukor said demand for properties in Johor has gone up since last year’s announcement about the SEZ.
Created by Koon Yew Yin | Aug 30, 2024
KSL announced its total 4 quarter EPS of 42.3 sen and its net tangible asset (NTA) backing of RM3.86. It is selling for less than 50% of its net tangible asset (NTA). KSL is undervalued. Its share...
Created by Koon Yew Yin | Aug 26, 2024
In 2012, I wrote my first book “Malaysia: Road Map For Achieving Vision 2020” which was launched by former Financial Minister Tengku Razaleigh.
Refineries are a good bet this round as shortage of refiners cos of MCO. PetronM usually release results earlier after parent Co in Phillipines announce group result. HengYuan is complex refiners able to produce Diesel which has higher crack spread, at around 46% of its 10.5 mil barrel / Qtr, but it has to hedge Crude Oil Price and also Prices of Refined Oil where cost of production is USD 2/ barrel. PetronM is simple Refiner where hedging is minimal as it has 750 stations but Mogas 92 crack spread is low for this product. It is expected that HYuan will announce an estimated net profit of RM1/ share, or 300 mil, barring huge derivative losses, like last quarter.
2022-08-16 12:57
Oil price up, all the refinery and oil company making good profit. But I think we know redy. No tq uncle Cock
2022-08-18 12:53
tehka
Dear uncle, you condemn Hengyuan and promote Hibiscus. Yet you forgot to mention ExxonMobil Mobil, Shell and Chevron all recorded great refinery results.
2022-08-16 12:21