Great analysis. Quick questions is there a publicly available source to track the Singapore GRM's (real time)? Also if you look at the longer term benchmark GRM's they have averaged between $5-10/bbl. ICRA publishes these O&G charts every six months that's my source. How long do you think this tightness (GRM $12) remains in the market? Thanks!
I have exited Chennai Petro as shared on my twitter timeline 2 days back when there was a 12% bump up on news related to relief in windfall tax. It was a momentum trade as disclosed on twitter on high GRMs, but they are now sub $3/bbl - a 80% fall in about a month.
correct me if i'm wrong sir.
but at Rs. 23,250 per tonne, it's probably Rs. 23.25 per litre ...
Rs. 3,696.75 for 159 litres (a barrel)...
$47.39 per barrel (using 78 Rupees = 1 USD)
?
1 tonne is not thousand liters.
1 tonne = 7.44 barrels
So impact is 23250/(7.44*78) $/bbl = $40/bbl
Excellent article. Thanks
Great analysis. Quick questions is there a publicly available source to track the Singapore GRM's (real time)? Also if you look at the longer term benchmark GRM's they have averaged between $5-10/bbl. ICRA publishes these O&G charts every six months that's my source. How long do you think this tightness (GRM $12) remains in the market? Thanks!
I have exited Chennai Petro as shared on my twitter timeline 2 days back when there was a 12% bump up on news related to relief in windfall tax. It was a momentum trade as disclosed on twitter on high GRMs, but they are now sub $3/bbl - a 80% fall in about a month.
Just set up a google alert for "Singapore GRM" or for anything you are looking to track and you will get all updates in your mailbox.
Also I follow a TOI reporter on Twitter who keeps updating regularly.