Excerp from the news: Diesel cracks in Europe on the Intercontinental Exchange rose more than 2 percent to $13.35 per barrel. Refinery margins in Europe remain nearly double their year-earlier level.

Hengyuan English article of part 3 just published on i3
https://klse.i3investor.com/blogs/davidtslim/129193.jsp
Happy reading!

New Mandarin version for Petronm Part 3 just published.

My hengyuan article in i3 top 5 article

But got one article by another author say Petronm n Hengyuan are overvalued

Let market or price to decide who is right.

Hengyuan Mandarin version Part 3 just published.

Sorry, I sent wrong link: The correct link should be as below

As what I expected, Hengyuan price continue to go up. Petronm also maintain its price and slow down its trend which is healthy sign

Hengyuan continue to run

For this Aramco news, I found that Aramco willing to pay USD 2 billion for 30% stake on a 260kbpd capacity. If Aramco want to increase the stake to 100%, then it need to fork out USD 6.67 billion. From this news, we can know how valuable for Hengyuan for 156kbp capacity.

Even we go for 25% discount considering the the system is used or old, Hengyuan is still worth USD 1.6 Billion = RM7.16 billion. This value still more than double compared to current Hengyuan market capital.

Some mistake from the above calculation. From USD 6.67 for 256kbpd capacity, Hengyuan 156kbpd should worth USD4 billion. If we only take 25% value from USD4 billion, Hengyuan still worth USD1 billion = RM4.3 billion. RM4.3 billion still much higher than current market capital of Hengyuan

I may write a report tonight for petron profit estimation from phillipines result if got time.

New article on Petronm

FYI, I have added a new point in summary of Petronm part 5 article. Pls check again

Petronm PE will go lower after Q2 result, it will go even lower after Q3 result as Q3'16 is relatively weak result