Cnergyico PK Limited (CNERGY): Russian crude: 20-25% FX savings, potential earnings driver – By Sherman Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">According to media sources, CNERGY which is the largest refinery in private sector has imported 100k tons of Russian crude (Ural). The crude arrived at company&rsquo;s single point mooring (SPM) facility.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Since CNERGY will process Ural for the first time, it is unknown that what will be the final product slate.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">However, one thing which is sure that company has secured the cargo at best price (may be in mid of August) when crude oil prices were relatively lower. Considering sharp increase of 17% in international crude oil prices since then, the company is i...