Oil & Gas Q4 Results Preview - OMCs Upbeat On Both Refining, Marketing Margins: ICICI Direct

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Direct Report.Average crude oil prices in Q4 FY23 declined 8% QoQ to $81.4/barrel of oil. The steep decline was mainly seen in the second half of March due to recessionary fears surrounding the banking sector in the U.S. and Europe. On a closing basis, crude oil prices were at around $79.7/bbl, down 6% QoQ. For Oil and Natural Gas Corporation Ltd., oil realisation net of windfall taxes would remain unchanged QoQ at ~$75/bbl and gas realisation would also stand unchanged QoQ at $8.57/metric million British thermal unit on a gross calorific value basis. Similarly, the ceiling price for Reliance Industries ltd. HPHT gas remained unchanged at $12.46/mmbtu (GCV basis). Also, ONGC and RIL’s volumes are expected to remain flattish QoQ. We expect ~2% QoQ increase in operating profit for ONGC. For RIL’s oil and gas segment, we expect operating profit to remain flat QoQ..Click on the attachment to read the full report:.Oil & Gas Sector Q4 Results Preview - Mixed Outlook Across The Chain: Nirmal Bang.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Oil & Gas Q4 Results Preview - OMCs Upbeat On Both Refining, Marketing Margins: ICICI Direct

Marketing margins turn positive for OMCs.

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