Q3 Results Preview: Oil And Gas Companies To Deliver YoY EPS Growth, Says ICICI Securities
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ICICI Securities Report
Key trends in the oil and gas sector in Q3 FY21 were -
Dubai and Brent crude were down 29% YoY but up 3-5% QoQ at 43.9-44.6/barrel of oil U.S. dollar;
Domestic gas price was at its 10-year low of $2.0/million British thermal unit;
Reuters’ Singapore gross refining margin recovered to $1.2/bbl from $0.05/bbl in Q2;
Auto fuel net marketing margin was up 76% YoY at Rs 3.1/litre; and
Auto fuel consumption was up 1% YoY and total product consumption down 1% YoY in October-November 2020.
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