Posted by Heavenly PUNTER > 2019-03-22 14:29 | Report Abuse

goreng time next QR

Posted by value88 > 2019-03-22 18:23 | Report Abuse

Short, concise and clear.

Posted by probability > 2019-03-22 19:06 | Report Abuse

The biggest loser from IMO 2020 is PetronM

why?

its crude is of a much sweeter grade selling at a premium to brent

since the premium is getting bigger day by day...the above crack spread is not representative at all

further, i think the crack spread chart is against dubai crude (which is increasingly selling at a discount to Brent)

and the average spread on your chart for Q1 2019 does not look any better than Q4 2018

what inventory gain for PetronM ? when it keeps such a small inventory!

and mainly producing Fuel Oil (going to be worthless soon)

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only thing great about Petron is its retail which is probably growing rapidly....or is it ''was" growing rapidly?

lets not mislead with such simple charts
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Posted by probability > 2019-03-22 19:08 | Report Abuse

remember IMO 2020 has the potential implication of closing down Simple refiners

Posted by stockraider > 2019-03-24 13:22 | Report Abuse

raider says u slowly accumulate hengyuan...bcos its refinery highly cost efficient mah....!!

Posted by soojinhou > 2019-04-07 14:45 | Report Abuse

IMO 2020 is bad for simple refiners processing sour crude. But Petron processes the sweetest of them all, Tapis crude. IMO 2020 forbids any fuel above 0.5% Sulphur content. Typical sulphur content of TapİS crude is 0.04%. It's best rethink the risk of IMO 2020. Chances are, no impact as the resultant fuel oil is IMO 2020 compliant, or minimal impact as the sulphur is low enough to remove cheaply. If anyone goes to AGM, this is a good question to ask management.