Q4FY22 Result Preview - Oil & Gas - ICICI Direct

Oil prices surged sharply amid concern over supply disruption following the geopolitical conflict in Europe during Q4FY22. Brent crude oil prices peaked at ~US$139/bbl in March. Subsequently, average crude oil prices increased by US$20.1/bbl QoQ to US$99.5/bbl. On a closing basis, crude oil prices increased US$29.1/bbl QoQ to US$106.6/bbl. Gas realisation was up 62% YoY as domestic APM gas prices were revised upwards from October. Similarly, ceiling price for gas from deepwater fields was also higher by 51% YoY in Q4FY22. Hence, net realisations of upstream companies are estimated to improve YoY as well as QoQ.

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Source : Equity Bulls

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Q4FY22 ResultPreview Oil Gas ICICIDirect