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Reported full-year 2021 net income of $25 million and EBITDA of $462 million, despite $435 million in RINs expense due to the broken Renewable Fuel Standard program that we are working... | February 22, 2022
Refining margins, the Nymex gasoline crack spread, traded above $16 per barrel on Thursday—the highest it's been since 2017
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A rebound in global oil prices has put local refiners Hengyuan Refining Co Bhd and Petron Malaysia Refining and Marketing Bhd back on the radar of investors as evident in their more than 100% jump in share price in just over a month or so. Last Friday, Brent oil hit the US$50/barrel mark for the first time since early March, and could inch further north as global economies recover from the Covid-19 pandemic. As it has been about three years since Hengyuan and Petron reached a peak in their share price, shareholders will be pleased to see the stocks regaining traction since oil rebounded from ...
Things called the crack spreads and profits they make, oil they turn into gasoline. if you look at the crack spread the refiners have been losing money and margins going. >> whoa, whoa, ston right now, stop right now. >> the crack spread as you so accurately point out refiner margin is the highest it's ever been. >> 26 a barrel. i've been doing this 23 years, never been higher ever. >> noft only that, if you look at gasoline prices when you buy the oil at $110, it's going to take it up to 6, to 8 weeks before they refine that in gasoline prices, number one. number two, the gasoline that's is--...