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US oil refiners set for worst earnings quarter of the pandemic

US oil refiners set for worst earnings quarter of the pandemic
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US oil refiners set for worst earnings quarter of the pandemic
U.S. refiners are girding for a painful slate of fourth-quarter earnings, reflecting the pressure of rising crude prices, weak demand due to renewed COVID-19 travel restrictions, and higher costs of associated with blending of renewable fuels into their products.
FILE PHOTO: General view of the Marathon petroleum refinery in Carson, California, U.S., December 5, 2019. REUTERS/Mike Blake
25 Jan 2021 02:05PM
(Updated:
25 Jan 2021 02:15PM)
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NEW YORK: U.S. refiners are girding for a painful slate of fourth-quarter earnings, reflecting the pressure of rising crude prices, weak demand due to renewed COVID-19 travel restrictions, and higher costs of associated with blending of renewable fu ....

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U.S. oil refiners set for worst earnings quarter of the pandemic

U.S. refiners are girding for a painful slate of fourth-quarter earnings, reflecting the pressure of rising crude prices, weak demand due to renewed COVID-19 travel restrictions, and higher costs of associated with blending of renewable fuels into their products. ....

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Reliance spins off oil-to-chemical business unit

Reliance for the first time reported integrated earnings of the O2C business in its third quarter financial results. Previously, refining and petrochemical businesses were reported separately while fuel retailing revenue was part of the firm s overall retail business. ....

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Jio and retail continue to power RIL's consumer side of business

‘The market expectation on PAT was somewhere close to Rs 11,000 crore ....

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Refining, petchem biz to be key drivers for RIL

Refining, petchem biz to be key drivers for RIL
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File photo of an RIL refinery at Jamnagar. The company is expected to report a 14% q-o-q rise in Ebitda and a 16% q-o-q recovery in earnings, two-thirds of which will be driven by a recovery in petrochemicals Ebitda, say brokers.
(Photo: AFP)
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MUMBAI,
NEW DELHI :
The performance of its energy business could be a key catalyst for Reliance Industries (RIL) in the December quarter with petrochemicals margins rising and refining recovering from its lows.
According to a Bloomberg survey of 10 brokerages, consolidated revenue is expected to fall to ₹1.21 trillion from ₹1.69 trillion in the year-ago period, while consolidated net profit, according to nine brokers, was expected to come in at ₹11,312 crore. RIL had posted a profit of ₹11,640 crore in the year earlier. ....

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