Higher product prices lift PetChem in 2Q

admin 1个月前 (08-26) 社会 3 0

线上博彩平台排名www.99cx.vip)是一个开放皇冠体育网址代理APP下载、皇冠体育网址会员APP下载、皇冠体育网址线路APP下载、皇冠体育网址登录APP下载的官方平台。线上博彩平台排名上线上博彩平台排名会员登录线路、线上博彩平台排名代理网址更新最快。线上博彩平台排名开放皇冠官方会员注册、皇冠官方代理开户等业务。

PETALING JAYA: The increase in product prices following the start of the Russia-Ukraine war in March helped to cushion the impact of lower production and sales volume for Petronas Chemicals Group Bhd (PetChem) in the second quarter of 2022 (2Q22), says managing director and CEO Mohd Yusri Mohamed Yusof.

The petrochemicals group reported a net profit of RM1.87bil in the second quarter ended June 30, 2022, which was little changed from the previous corresponding quarter.

Earnings per share was unchanged from a year earlier at 23 sen.

Revenue in the quarter under review rose to RM6.58bil from RM5.61bil in the comparative quarter due to the higher product prices, driven mainly by higher crude oil and natural gas prices following the Russia-Ukraine crisis.

In line with the performance, the board of directors declared an interim dividend of 25 sen a share amounting to RM2bil, the group’s highest dividend payout to date.

In a statement, Mohd Yusri said the group undertook scheduled plant turnaround activities in its fertiliser plant in Sipitang, Sabah, and methanol plant in Labuan.

Following the completion of the plant turnarounds in the first half of this year (1H22), he expects plant utilisation rates to be above 90% in 2H22.

On the group’s outlook, he noted that rising feedstock and operational costs coupled with the China lockdowns have weakened demand for product prices, particularly for downstream chemicals products.

,

皇冠足球信用平台出租www.hg108.vip)是皇冠(正网)接入菜宝钱包的TRC20-USDT支付系统,为皇冠代理提供专业的网上运营管理系统。系统实现注册、充值、提现、客服等全自动化功能。采用的USDT匿名支付、阅后即焚的IM客服系统,让皇冠代理的运营更轻松更安全。

,

“The prices of olefins and derivatives are expected to stabilise with demand recovery following the easing of restrictions in China, ahead of year-end re-stocking activities.

“Urea prices have seen some correction but are likely to remain high compared to historical price levels,” he said.

Mohd Yusri also said commissioning activities at the Pengerang Integrated Complex have progressed since May and the start-up of the petrochemical facilities have commenced in phases since July.

On other growth projects, the construction of the nitrile butadiene latex plant in Pengerang and the speciality ethoxylates and polyols in Kerteh are also progressing ahead of the scheduled operation date in 2H23.

He added the proposed acquisition of Perstorp Holdings AB is expected to be completed in early 4Q22.

“As a growth platform in our specialty chemicals portfolio, Perstorp will enhance PetChem’s long-term performance and value.

“We believe the acquisition will future proof our business against market cyclicality and volatility as well as to progress in a transformational shift towards a net-zero carbon emission future,” he said.

Last week, Macquarie reinstated its coverage on the group, with an “outperform” recommendation.

The global bank’s research unit had cited PetChem’s upcoming earnings announcement as one of the stock’s catalysts.

Sunbet声明:该文看法仅代表作者自己,与本平台无关。转载请注明:Higher product prices lift PetChem in 2Q

网友评论

  • (*)

最新评论

文章归档

    站点信息

    • 文章总数:8666
    • 页面总数:0
    • 分类总数:8
    • 标签总数:2311
    • 评论总数:5979
    • 浏览总数:635923