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Golden period for OMCs: Will it go on, or come to an end?
May 31:
The last three years has been a golden period for public sector oil marketing companies (OMCs).
8The fall in crude prices led to a complete change in the fortunes of the sector, driven by:
-- Strong global GRMs (robust demand, lower product prices, delay in new refineries)
-- Petrochemical margins are above their 5-year average
-- Higher profits in marketing, owing to strong volumes and margins
-- Low oil subsidy, as interest cost fell 50-60% in the last three years
-- Inventory gains.
8These have led OMCs to report the highest-ever EBITDA and PAT in FY17.
8The OMCs’ story is intact till crude is below the USD 65/bbl but not beyond that
Click on Reports for more.
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8The fall in crude prices led to a complete change in the fortunes of the sector, driven by:
-- Strong global GRMs (robust demand, lower product prices, delay in new refineries)
-- Petrochemical margins are above their 5-year average
-- Higher profits in marketing, owing to strong volumes and margins
-- Low oil subsidy, as interest cost fell 50-60% in the last three years
-- Inventory gains.
8These have led OMCs to report the highest-ever EBITDA and PAT in FY17.
8The OMCs’ story is intact till crude is below the USD 65/bbl but not beyond that
Click on Reports for more.
