Oil & Gas Sector Update: Gross Rent Multiplier, Says ICICI Securities
An oil pumping jack, also known as a “nodding donkey”, in an oilfield. (Photographer: Andrey Rudakov/Bloomberg)

Oil & Gas Sector Update: Gross Rent Multiplier, Says ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Arctic freeze last week led to shutdown, or impacted: 1) 35% of U.S. oil and 20% of U.S. gas output, 2) entire U.S. LNG exports, 3) 32% of U.S. refining, and 4) 10% of U.S. ethylene capacity.

Oil output is set to recover faster while petrochemical units and refineries may take longer to restart.

This has meant that Reuters’ Singapore GRM ($1.8/barrel of oil) and auto fuel, jet fuel and naphtha cracks ($1.3-4.0/barrel of oil) were up more sharply week over week than oil price.

Click on the attachment to read the full report:

ICICI Securities Oil & Gas Update February 21 2021.pdf


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