{"id":363707,"date":"2020-07-20T11:56:55","date_gmt":"2020-07-20T06:26:55","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=363707"},"modified":"2020-07-20T11:56:55","modified_gmt":"2020-07-20T06:26:55","slug":"oil-gas-q1-preview-earnings-of-omcs-likely-to-surge","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-gas-q1-preview-earnings-of-omcs-likely-to-surge\/","title":{"rendered":"Oil &amp; Gas: Q1 preview \u2014 Earnings of OMCs likely to surge"},"content":{"rendered":"<p>Key trends in the oil &amp; gas sector in Q1FY21 were: (i) Dubai and Brent crude were down 53-54% y-o-y at $31-32\/bbl; (ii) domestic gas price was at its 10-year low of $2.7\/mmbtu; (iii) Reuters\u2019 Singapore gross refining margin (GRM) was in the red at minus $0.9\/bbl; (iv) auto fuel net marketing margin was at an all-time high of Rs 6.13\/l; (v) auto fuel consumption was down 33% y-o-y and total product consumption down 26% y-o-y due to lockdown; and (vi) lockdown has meant gas consumption by city gas distribution (CGD) is down sharply while fall in gas transmission and LNG imports is more modest.<\/p>\n<p>We estimate strong earnings growth for OMCs but loss for ONGC, steep earnings fall for CGD players and more moderate earnings fall for GAIL, Petronet LNG (PLNG) and GSPL.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key trends in the oil &amp; gas sector in Q1FY21 were: (i) Dubai and Brent crude were down 53-54% y-o-y at $31-32\/bbl; (ii) domestic gas price was at its 10-year low of $2.7\/mmbtu; (iii) Reuters\u2019 Singapore gross refining margin (GRM) was in the red at minus $0.9\/bbl; (iv) auto fuel net marketing margin was at an all-time high of Rs 6.13\/l; (v) auto fuel consumption was down 33% y-o-y and total product consumption down 26% y-o-y due to lockdown; and (vi) lockdown has meant gas consumption by city gas distribution (CGD) is down sharply while fall in gas transmission and [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-363707","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/363707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=363707"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/363707\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=363707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=363707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=363707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}