Repsol, Neste, OMV Have Sustained Tailwinds from Exceptional Refining Margins
Dow Jones
Sep 07
0730 GMT - Repsol, Neste and OMV will be the main beneficiaries of sustained high refining margins, but all integrated oil companies should continue to deliver above-average profits in their downstream units, Barclays analyst Lydia Rainforth writes. Refining margins remain exceptionally tight and margins on diesel continue to accelerate, she says. Damage to refining infrastructure in the Middle East and Russia, and constrained feedstock availability for Asian and European refiners mean the backdrop remains supportive, she says.
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