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中石油煉油恐蝕500億 @ 2011-10-21T08: Back Hot News
Keyword:中石油 煉油
Concept:
內房股下滑 恆大地產挫逾一成【公司消息】ST-Ericsson發布2011年第三季度財務報告雀巢預計今年將超額完成銷售目標【海外動態】德國9月PPI按月升0.3%華潤燃氣漲0.4% 大摩給予增持評級中石油稱今年煉油虧損或約500億元人民幣中資保險股弱 中國財險挫11%【大行言論】巴克萊:東方海外(00316-HK)「增持」,目標價40.52元銀娛非執董Martin Clarke辭任台股全日跌109點【神州動態】消息指人行叫停內銀墊資代持
中石油2011年上半年淨利潤660億,EPS0.36元,同比基本持平;Q2 EPS為0.16元同比下降20%。第二季度環比原油均價增長22美元/桶,上游板塊EBIT增長26%。但上游的盈利增長,被煉油虧損,進口管道氣虧損抵消。
【明報專訊】石油股估值與油價走勢密不可分,但並不是所有油企都因油價升而受惠,油價跌就遭殃。以中石油(0857)和中石化(0386)為例,油價上升雖然對其上游開采和原油銷售業務利好,但2008年和今年的經驗可見,油價攀升往往伴隨着其他物價一齊上漲,由於成品油價格未市場化,國家發改為控制通脹,並不會完全按照定價機制讓油公司漲價,結果便是兩大油企自行承擔煉油虧損,影響了整體盈利能力。

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