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almost reaching attractive price. hopefully it will fall a bit more. petron has both upstream and downstream business. the downstream business was acquired from ExxonMobil back in 2012. recently, Exxon Mobil announced corporate divestment plan which includes selling it's Malaysia assets; mainly upstream which has e&p contracts with petroliam national berhad.
it is attractive from that perspective, nick chung. was hoping to get a bit higher margins of safety. if I can't get on board per initial plan, will revisit the plan after QR next month. still thinking the impact of the incident. any idea?
Small case only . Takes 10 days to repair.. definitely have storage supply to cover . However from RM 14 down to RM4.9 is a total bargain compared to its peer like Pchem and Lctitan. I expect a rebound to come soon..
Quinn, petron and hengyuan is not exactly the same. Petron can be considered as integrated company (upstream and downstream) while hengyuan is considered as independent refiners. long term wise, imo - petron is better but short term, hengyuan is better. short term as in following it's cyclical move in refining margins. when the margins starts improving, that's the time to get on board hengyuan. Just my opinions, could be wrong.
Goh, I very superficial one, I just compared both I think Heng yuan more undervalue.. Cos both FA not look nice, but price reflect their FA too, can collect while no ppl talk about it? I'm newbie, follow Nick better... Hehe Nick good
wonder how the qr looks like. lower profitability is expected based on average crude oil price comparison and refining margins as reflected in it's share price. will be a surprise if it's better than expected.
tay, I will not recommend to gamble. I am still hoping that it can sell a bit lower. looking for a longer term position as I like it's balance sheet while waiting for refining margin recovery.
Wang JX, probably by next quarter. rationale behind is that crude oil price avg in q4 last year is approx 56 and currently is at the same range based on the crude oil price trends. on the other hand, tapis cracking and hydroskimming margins trends is picking up. as of q3'19, the margins is still lower compared to q3'18, however, the margins now is higher compared to q4'18.
as long as the crude oil price remains stable/inching up and refining margins continues to improve, I am in the opinion it will improve it's profitability. Just my opinions, could be wrong. Hope it helps with your research.
official tapis cracking refining margins for Oct is out and highest this year. looking good. next to watch will be the opec, opec+ decision on production cuts with Iraq oil minister hinting cut in play. China mfg PMI data expanded first time since Apr, this could be a sign that slow down is bottoming out. congrats to all shareholders and let's continue to monitor the refining margins and external headwinds.
yesterday's vol picked up and interestingly came from one single transaction in the morning sweeping 1670 lots at 5.10. news on deeper cuts by opec/opec+ resulting in wti Jan futures contract to jump 4%.
Lol, David. Just Petron and Hibiscus. hoping to add hibiscus more if opportunity arises. switched from waseong to these two. these two are integrated/upstream o&g sector where else waseong was service providers to upstream/integrated o&g players. from it's recent low price for petron and the fact that it's integrated, it's more stable but price volatility can be high bcos it has less than 300M shares.
favourable crude oil price and improving refining margins will be the key factors to bring it back to it's fair value. Just need to follow closely it's development.
hengyuan is mainly refinery and pretty much depends on it's capability to refine diff grades of crude via diff processes such as cracking, reforming, additives and blending. distribution terminals for dispensing product to bulk customers.