Oil and Gas stocks results preview for Q3FY12: KRChoksey

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Oil and Gas stocks results preview for Q3FY12: KRChoksey

KRChoksey has come with its quarterly earning estimates for Oil and Gas sector.

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KRChoksey has come with its quarterly earning estimates for Oil and Gas sector.

Preview on Oil & Gas
• Oil & Gas: Overall fuel subsidy burden will rise to Rs 32000 cr against previous quarter of Rs 21684 cr on the back of depreciating rupee more than
15% in this Quarter.
• We will see pressure on refining margins due to sharp fall in gasoline, LPG and naptha spreads. Petrochemical deltas are in negative zone compare to previous quarter.
• Falling gas output from KG-6 is major concern for the Gas sector, Gas transmission through pipelines are moving downward and City gas distribution
companies are facing problems of higher import of LNG with depreciating rupee impact.

Factors to watch in the Q3FY12 result
• Impact of falling rupee on rising fuel subsidy
• RIL will try to arrest falling output from KG-D6 and watch on change in RIL refining product slate

Top Picks - RIL, ONGC

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