Caltex Australia (ASX:CTX) refiner margins hit by oil price and demand - Sequoia Direct Pty Ltd

12MarMarch 12, 2020

Caltex Australia (ASX:CTX) refiner margins hit by oil price and demand

Caltex Australia (ASX:CTX) is monitoring the impacts from market responses to COVID-19 on regional refining margins, crude and product demand both globally and in Caltex’s markets (including Australian hydrocarbon demand).

Australian jet fuel demand has been impacted by flight cancellations domestically and internationally.

As advised at the 2019 full year results on 25 February 2020, they have been seeing demand reduction of jet fuel of 5-10 per cent for the Australian industry.

Recent reports by airlines, including announcements from Qantas about reduced capacity and services, indicate that demand may drop further in coming weeks.

We are not yet able to see any clear impacts on demand in the Australian gasoline and diesel markets related to COVID-19 due to the broad range of customers and the different influences on demand.

Shares in Caltex Australia (ASX:CTX) are trading 1.56 per cent lower at $27.10.

Copyright 2020 – Finance News Network

Source: Finance News Network

Related Posts

23AprApril 23, 2020

Electro Optic Systems (ASX:EOS) awarded NATO navies contract

23 Apr 2020 - Electro Optic Systems (ASX:EOS) Brisbane-based subsidiary, EM Solutions, has won $14 million of orders from four navies for its Cobra maritime satellite terminals.

06DecDecember 6, 2019

Wattle Health (ASX:WHA) enters a supply agreement with Chemist Wareshouse

06 Dec 2019 - Wattle Health (ASX:WHA) has entered into a 10-year supply agreement with Chemist Warehouse for its organic nutritional dairy range, including its Uganic infant formula and the Little Innoscents organic skin care range.

06JanJanuary 6, 2021

The Harvest Technology Group (ASX:HTG) to help develop smart safety glasses

06 Jan 2021 - The Harvest Technology Group (ASX:HTG) has entered into an agreement with Iristick NV to further develop industrial smart safety glasses.

10SepSeptember 10, 2021

Stocks of the Hour: Woolworths, Santos & PolyNovo

10 Sep 2021 - A snapshot of the stocks on the move, featuring Woolworths (ASX:WOL), Santos (ASX:STO) and PolyNovo (ASX:PNV).

09JunJune 9, 2020

AER releases 5yr regulatory decision for SA Power Networks

05 Jun 2020 - The Australian Energy Regulator (SER) today released its final decision for the next five-year regulatory period for SA Power Networks. Spark Infrastructure Group (ASX:SKI) holds a 49 per cent interest in SA Power Networks.

09OctOctober 9, 2019

Jupiter Mines (ASX:JMS) appoints non-executive director

09 Oct 2019 - Jupiter Mines (ASX:JMS) Non-Executive Director Hans Mende has been appointed to the Jupiter Board, effective immediately.

30AugAugust 30, 2019

BlueScope Steel sued for allegedly attempting to fix prices

30 Aug 2019 - BlueScope Steel (ASX:BSL) informed the ASX today that the Australian Competition and Consumer Commission (ACCC) has started civil proceedings against them and their former employee Jason Ellis alleging contraventions of the Australian competition law cartel provisions.

15MarMarch 15, 2021

Nova Minerals (ASX:NVA) report ore sorting viability at Korbel Main

15 Mar 2021 - Nova Minerals (ASX:NVA) confirms exceptional ore sorting viability at Korbel Main.

31AugAugust 31, 2020

Sealink (ASX:SLK) posts $13.5 million loss but will still pay dividend

31 Aug 2020 - Sealink Travel Group (ASX:SLK) has posted a $13.5 million loss for the 2020 financial year compared to a statutory Net Profit After Tax of $21.5 million for the year earlier period.

12AprApril 12, 2021

Perenti’ (ASX:PRN)’s African business awarded $235m contract extension

12 Apr 2021 - Perenti Global-owned African Underground Mining Services (AUMS) has been awarded a 2-year contract extension for its business with AngloGold Ashanti (ASX:AGG)