It is already priced in. Looks like insider trading. It finally tells me why price drop so fast.
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It is already priced in. Looks like insider trading. It finally tells me why price drop so fast.
Indeed GC. Here is the related article
http://www.scoop.co.nz/stories/BU160...er-problem.htm
Even after that news it still finished up for the day.
all quiet here, brent Dubai spread is not good at the moment , cracks under pressure, hydro cracker offline probably wont be a good report next time
In the last financial year, I don't remember anything going against NZR at all. It truly was an all stars align year.
This year, spreads seem to be coming under pressure, and a few minor mishaps have occurred, one being a tanker delay which impacted volume, then the issue with the cracker which was quite an expensive mishap.
So to me, it looks like 2015 was maximum profit or close to, this year every mishap will eat into profitability, a long way to go and it looks like spreads under pressure, dollar going higher... The opposite of last year. Can't be good for SP.
I wouldnt read too much into the cracker breaking down, it is a normal shut down (cracker tripped a week before shut down which allowed them to plan for extra work if needed). We rented out a house to some of the guys working on the hydrocraker shutdown and they were done and dusted 5 days earlier than originally planned so it looks like the shutdown is going very well. Shut downs are normal planned events.
The crude ship delay earlier on was not great but with the cracker with new catalyst I am sure they will make up for lost ground over the coming weeks. NZD at 69c is still better than last years average of 70c and dont forget we have got a full year of margin uplift from new project.
We might be looking at Mar/Apr margins of $6USD to $7USD bbl but that is still pretty good.
Thats a good response CDonald - thanks.
Nice to see NZR buying its own shares at the present lows......
For the purposes of Listing Rule 7.12.1 of the NZX Main Board/Debt Market Listing Rules,The New Zealand Refining Company Limited (NZR) advises that the following securitieshave been acquired:
- a Class of securityISIN
- b Number acquired
- c Acquisition price
- d Payment
- e Amount paid up
- f Principle terms of securities
- g Percentage of class ofsecurities
- h Reason for acquisition
- i Authority for acquisition
- j Terms of acquisition
Ordinary SharesNZNZRE0001S998,025
$3.14
Cash
Fully paid up ordinary sharesN/A
0.03%
Ordinary shares were acquired to be held byCRS Nominees Limited pending grant toemployees under NZR’s Employee SharePurchase Scheme