Jan 4): China slashed its fuel export quota by more than half in the first batch of allocations for 2022, highlighting the nation’s strategy of progressively limiting overseas sales.
A total of 13 million tons were issued, including both general trade and tolling issuances, according to refinery officials who have direct knowledge of the matter. That’s 56% less than 29.5 million tons in the same batch for 2021.
“Looks like this year’s total fuel export quota will keep declining,” said Yuntao Liu, analyst with Energy Aspects Ltd., adding that a smaller issuance may boost competition between state refiners and independents.
There’s speculation that China may eliminate product exports by 2025. Should that happen, Asian fuel exporters — in Northeast Asia, Singapore, Malaysia and Brunei — stand to benefit as regional margins will have to rise to make up for lost Chinese barrels, according to a previous estimate by Energy Aspect
Tesla sold more than 900,000 EVs last year and still back ordered 4.5 months (today), backordered 6 months inside China.
Major Germans total EV sales were 300,000 plus with backorders
Ford has huge backorders more than 150,000 on the F-150 that it stopped taking anymore orders and people paying blackmarket premiums to get it immediately
China EVs are selling like hotcakes too and you guessed it, backordered as well.
Crack spread already at multiple years high at $13.589!!! PetronM already sleeping at this solid rock bottom price for years, it is time to rise until RM15.06 again!!!
- NTA > RM7 and PE is only 5.5. - Though some may argue not in the same industry but I consider an investment is just an investment - Carlsberg is trading at PE of 36.6 & Nestle at a mindboggling 53!!
- Petron had made over the years hundreds of millions of RM but declaring only puny dividends. What happens when you put millions into a bank account but withdraw only pennies? Logically overtime, it should grow in a compounding fashion.
The share price is way behind the curve. It's puzzling what's holding this counter back? The only way for management to get even with investors who're not paying any attention to this counter is to pay a lot more dividends (Unless of course if the accounts are all made up and the profits are fake).
SINGAPORE : PetroChina has started a 33.9 billion yuan ($5.33 billion) programme to expand the petrochemical capacity at a subsidiary plant in northeast China and cut refined fuel production, according to a company post and state media report.
The state oil and gas major's move is in line with a trend within the Chinese industry to reduce fossil fuel output as demand is set to peak, while raising production of higher-value petrochemicals that are imported by the Asian country. Under the revamp, PetroChina's Jilin Petrochemical Corp plans to add 21 more facilities - including a 1.2-million-tonnes-per-year (tpy) ethylene unit - and mothball seven units, parent company CNPC said on Wednesday, without providing further details.
The new facilities will also include a 600,000-tpy unit to manufacture acrylonitrile butadiene styrene (ABS), an impact-resistant plastic, local state newspaper Jilin Daily reported, without citing details on project completion.
After the revamp, the Jilin province-based subsidiary will produce 2.63 million tonnes less of refined fuel a year but 2.8 million tonnes more petrochemical
No worries. With very high cracking spread the company is going to make good money. Share price will recover above $6/- before mid year. Just my take. I am taking increasing position in this counter .
EPS 81.47 PE...5.65 very low PE ratio Only 270.million shares Highly undervalue Soon will go up up up... Crude oil n Brent around 90 Petronm will have an excellent coming quarterly report!
Petron can't directly control investors' decisions but it can control dividends.
To make up for the very poor share price performance, massive dividend payouts will rile up investors who have ignored this counter. It'll be the right tonic to drive up the share price.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
gemfinder
6,880 posts
Posted by gemfinder > 2021-11-27 10:06 | Report Abuse
Luckily cut 448