Singapore GRMs have fallen below $4 per barrel in April—lowest since October 31—compared to around $10 per barrel in February, highest so far in 2024.
Gross refining margins --the difference between crude price and total value of petroleum products produced by the refinery -- for the year FY17 stood at USD 11.0 per barrel against USD 10.8 per barrel in the previous fiscal.
The decision of the OPEC countries to cut output in an effort to reduce global glut has created ripples in the oil market. But, HPCL's Chief, MK Surana believes prices will not rise substantially.
The gross refining margins (GRMs) stood at USD 10.01 per barrel compared to USD 6.62 per barrel same quarter last fiscal.
During the quarter, petro chemical EBIT is likely to be down 1 percent at Rs 2620 crore against Rs 2639 crore on sequential basis. Refining EBIT may be 4 percent lower at Rs 6233 crore versus Rs 6491 crore (QoQ).
Jefferies says India state-owned OMCs remain top picks in the oil & gas sector as it believes consensus and market is under-estimating earnings potential of these companies in a low crude price environment. Recently International benchmark Brent touched 12-year low at around USD 27 a barrel.
Krishna Kumar Karwa, MD, Emkay Global Financial Services believes it is possible to see the market take out new highs before the first half of FY15. But for it to sustain, it has to be supported by earnings growth, he cautions.
Reliance Industries has posted a 19 percent year-on-year rise in June quarter profit to Rs 5352 crore. Sales have however declined to Rs 87645 crore, down 4.5 percent YoY.
While announcing Q1 numbers, RIL management may announce additional investment in exploration and production business, if the new gas price formula turns out to be viable.
Hindustan Petroleum is expected to post around 43%YoY jump in Q4 profit on improved GRMs.
Essar Oil posted Rs 200 crore profit on the back of robust refining margins and forex gain.
We are likely to see a weaker quarter for refining margins, says Jal Irani, MD -Oil & Gas Research, Macquarie Group after Singapore complex refining margin, nearly halves from USD 10 to USD 4.90.
Reliance Industries reported a 32 percent year-on-year growth in net profit for the quarter ended March, even as revenues declined 1.4 percent. For the full year, the company‘s revenues rose 9.2 percent and net profit by 4.8 percent. Here is what analysts have to say on their outlook for the stock after the latest set of earnings numbers:
Tuesday was a big day for the Indian market and looks like India could be back on the radar after being out in the cold for the last three months for global investors.
Reliance Industries (RIL) has reported 31.9 percent year-on-year jump in March quarter profit to Rs 5589 crore, boosted by an improvement in gross refining margins (GRMs), which is partly offset by lower gas output from its flagship KG-D6 basin.
Reliance Industries (RIL) is likely to post 30.8 percent year-on-year jump in its Q4 net profit to Rs 5540 crore. Revenues will also climb 7.6 percent to Rs 91,673 crore YoY, according to CNBC-TV8 poll.
Reliance Industries (RIL) is expected to invest around Rs 1,00,000 crore in its various business verticals in the next five years of which 85 percent would be in its core oil and gas and petchem businesses, state media reports.
CNBC-TV18 interviewd SP Tulsian of sptulsian.com to know his reaction on RIL's better-than-expected performance for the quarter ending in Decmber. Tulsian expects Petchem to outperform in future as well.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com sees good support for Exide at Rs 120 and considers it as a good entry point for short-term.
lining KG-D6 volumes and muted gross refining margins (GRMs) are likely to impact Reliance Industries‘ (RIL‘s) December quarter earnings, say brokerages. The company‘s petchem segment may post better numbers, partially offsetting poor show from other businesses.
Reliance Industries' Q2 numbers were almost in-line with street expectations. As expected, declining gas output from the energy giant‘s KG-D6 fields and muted performance in the petchem business led to an almost 5.7% decline in profits, YoY.
Reliance Industries (RIL) is all set to declare its September quarter earnings on Monday. Brokerages on an average expect net profit of the company to decline 6 percent Year-on-Year to Rs 5,365 crore, but the same is likely to grow by 20 percent quarter-on-quarter.
Big boy Reliance Industries has delivered a stable fourth quarter performance. The oil and gas major's profits have declined just 4.5% sequentially to Rs 4,230 crore. Refining and petchem performance is slightly better-than-expected. GRMs have surpassed estimates at USD 7.60/bbl.