Report
EUR 9.11 For Business Accounts Only

Pakistan Refinery_Refinery margins_ Beginning of the end, (AKD Daily, Jul 15, 2022)

Global prices of diesel and petrol fell sharply by ~15.5% and 16.5% during the week, due to rising concerns of global recession majorly emanating from Western/European front to stand at $US147/124 per bbl for gasoil and gasoline respectively .
 Refining spreads fell sharply over the week, currently standing at $USD30/10 per bbl for Diesel and Petrol respectively. Compared to previous month highs of $USD58/42, margins fell sharply by 53%/73% MoM.
 As per OCAC data for June’22, weighted average margins for NRL/PRL/CNERGY/ATRL stood at $USD24.2/24.5/31.5/24, up 17%/31%/243%/36% on a MoM basis. CNERGY showed the most promise during the month by earning the highest margin and also wit-nessing the largest increase on the said margins on a MoM basis.
 Moving forward, sector profitability may remain firm in the near term as refined product margins are expected to remain strong during 1QFY23, but may begin cooling down in the wake of slowing summer demand and the commencement of Middle Eastern capacities (1mn bpd capacity inclusion beginning Oct’23).

Provider
AKD Securities Limited
AKD Securities Limited

AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.

AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.

Other Reports from AKD Securities Limited

ResearchPool Subscriptions

Get the most out of your insights

Get in touch