Analyst Research Report Snapshot

Title:

PETROM (SNP RO) – Q2 AND H1, 2006 UPDATE

Price:

$35.00

Provider:

Swiss Capital

Date:

17 Aug 2006

Pages:

3

Type:

AcrobatPDF

Companies referenced:

ROSNP.BX

Available for Immediate Download
Summary:

The crude oil market continued its ascending trend during the entire Q2 (Brent in Q1 2006 averaged $62/bbl and in Q2 2006 averaged $69.5/bbl). Brent futures contract settled at the highest since September 2005, in April at $77.58/bbl. A year-on-year comparison with the first six months of 2005 shows a dramatic increase in price levels for crude oil (over 32%) and automotive fuels (approx. 35% for gasoline). Refiners and crude suppliers experienced during Q2 margins hovering at healthy levels. Despite the favorable environment, Petrom had similar turnover figures in Q2 vs. Q1 2006 while the EBIT margin decreased from 34% in Q1 to 22% in Q2 as shown below:

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