Refinery groups rise on positive factors from South Korean refinery fires Brokers expect tight supply increases
at 10.37 a.m.
- TOP increased 1.75% or increased 1.00 baht to 58.25 baht, trading value 106.31 million baht.
- SPRC increased 1.71% or increased 0.20 baht to 11.90 baht, trading value 157.60 baht.
- ESSO increased 1.42% or increased 2.50 baht to 178.00 baht, trading value 67.26 million baht.
- BCP rose 0.72% or 0.25 baht to 35.00 baht, trading value 49.78 million baht.
Nomura Securities Pattanasin stated in the analysis that Yesterday, S-Oil’s refinery (a refinery in Korea) caught fire. But it did not specify which distillation unit was damaged. how severe the damage and how long will it take to repair. However, be positive on the trend that petroleum and petrochemical spreads may increase due to tighter supply. because of the fire incident at the S-Oil refinery
It also assesses the impact on global petroleum and petrochemical supplies is limited. As there is no detailed information on damage and repairs. But initially, the group that is most likely to benefit will be the refineries, which previously had tight global supply. Followed by petrochemicals that may benefit in the short term as PX/BZ/PP have oversupply as spread increases.
However, we expect excess capacity, especially in China and Malaysia, to start producing more. crude oil side We view this negative as crude demand may disappear from the S-Oil refinery, with a refining capacity of 669 KBD, accounting for 0.8% of global crude oil consumption. They account for approximately 0.7% of global refinery capacity, while PX/BZ/PP account for approximately 2.5%/ 0.9%/ 0.4% of global capacity.
By InfoQuest News Agency (20 May 65)
Tags: BCP, ESSO, SPRC, TOP, refinery stocks, Thai stocks