2252 GMT - Ampol and Viva Energy's upcoming quarterly updates could disappoint investors, says Goldman Sachs. That's because "regional refining margins fell over the quarter, impacted by lower regional product cracks and a collapse in clean-dirty freight spreads, which we estimate at -US$1.8/bbl," analyst Henry Meyer says in a note. GS estimates Ampol had a US$5/bbl gross refining margin in 3Q. It assumes a planned turnaround at Ampol's Lytton plant in Queensland state reduced this margin by US$2/bbl compared to 2Q. "Lytton gross margin could exceed our estimates if apparent one-off crude price lags which impacted 2Q are reversed," GS says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 13, 2024 18:52 ET (22:52 GMT)
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