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LIOC.N0000 (Lanka IOC PLC)

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Re: LIOC.N0000 (Lanka IOC PLC)

Post by The Invisible on Wed Apr 11, 2018 11:28 pm

This is a problem of policy decision. Isn't there is a one brave guy to go ahead and implement the price formula. How long they are planning to run around the bush, I don't know.
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Re: LIOC.N0000 (Lanka IOC PLC)

Post by yellow knife on Mon Apr 16, 2018 7:22 am

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April 16, 2018 at 6:30 am | lanka C news [You must be registered and logged in to see this image.]
ලෝක වෙළෙඳ පොළේ බොරතෙල් මිල ඉහල පහල යාම් සමග මෙරට තෙල් මිලද තීරණය වීම සදහා වන ඉන්ධන මිල සූත‍්‍රය මැයි මස 01 වැනිදා සිට ක‍්‍රියාත්මක කිරීමට රජය තීරණය කර ඇත.
මේ සම්බන්දයෙන් වන කැබිනට් පත‍්‍රිකාව මුදල් ඇමැතිවරයා විසින් සකස්කර අවන් යයිද වාර්තා වෙයි.
ජාත්‍යන්තර මූල්‍ය අරමුදල විසින් මෙරට ලබා දෙන ණය සදහාද කොන්දේසියක් වී තිබුනේ ගිය මාර්තු මස 31දා සිට මිල සූත්‍රයක් ක්‍රියාත්මක කල යුතු බවයි.
මිල සුත‍්‍රය ක‍්‍රියාත්මක වීමත් සමගින් ඉන්ධන මිල ඉහල යනු ඇතැයිද වාර්තා පල වෙයි

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Re: LIOC.N0000 (Lanka IOC PLC)

Post by The Invisible on Mon Apr 16, 2018 10:02 am

With renewed news on fuel formula LIOC is in an active mode once again. People are trying to capture available quantities before the big news and I hope this is not just another talk like the previous many occasions.
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Re: LIOC.N0000 (Lanka IOC PLC)

Post by කිත්සිරි ද සිල්වා on Mon Apr 16, 2018 10:07 am

Laughing
The Invisible wrote:I hope this is not just another talk like the previous many occasions.
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Re: LIOC.N0000 (Lanka IOC PLC)

Post by yellow knife on Mon Apr 16, 2018 10:18 am

කිත්සිරි ද සිල්වා wrote: Laughing
The Invisible wrote:I hope this is not just another talk like the previous many occasions.


NATO BOYS... Kith

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Re: LIOC.N0000 (Lanka IOC PLC)

Post by yellow knife on Tue Apr 17, 2018 1:50 pm

Declaration... by now I don't hold LIOC.

***********************************

When the rest of the world has increased oil price ( in USD terms).. SL remains a flat rate for oil liter. However the USD term has slightly come down due to the fact of LKR depreciation.

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A sensible government need not to be pushed by IMF to raise oil price.


Column1Apr-18Apr-16Mar-16 Feb2016
Saudi Arab0.290.120.120.12
Malaysia0.570.480.480.47
Dubai0.550.440.460.46
USA0.650.500.50.53
Pakistan0.690.950.950.71
Sri Lanka0.770.800.80.81
China1.050.920.920.91
India1.110.930.90.93
Japan1.221.091.061.11
South Korea1.431.231.21.18
Norway 1.921.581.591.6

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Re: LIOC.N0000 (Lanka IOC PLC)

Post by yellow knife on Tue Apr 17, 2018 2:00 pm

The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value. The current price of WTI crude oil as of April 16, 2018 is $66.36 per barrel



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Re: LIOC.N0000 (Lanka IOC PLC)

Post by yellow knife on Mon Apr 23, 2018 8:50 am

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April 23, 2018 at 8:40 am | lanka C news [You must be registered and logged in to see this image.]
ශ‍්‍රී ලංකාව තුල ඉන්ධන මිල ලොක වෙලදපලේ බොරතෙල් මිල මත තීරණය වීම සදහා සකසන ලද ඉන්ධන මිල සූත‍්‍රය හෙට දිනයේ කැබිනට් අනුමැතිය සදහා ඉදිරිපත් කරන බව මුදල් අමත්‍යංශය සදහන් කරයි.
ඉන්දීය තෙල් සමාගම මිල වැඩි කිරීමෙන් පසු ලංකා ඛනිජ තෙල් සංස්ථාව දිනපතා මිලියන 38 බැගින් පාඩු ලබන නිසා තෙල් මිල වැඩි කල යුතු යයි සංස්ථාව ඉල්ලීම් කර තිබින.
මිල සූත්‍රය අනුව මාස දෙකකට හෝ තුනකට වරක් ලොක වෙලද පාලේ මිල අනුව මෙරට ඉන්ධන මිල සංශෝධනය කෙරෙයි.
මේ අතර වාර්තා වන්නේ අන්තර්ජාතික මුල්‍ය අරමුදලේ මීලග ණය වාරිකය ලැබීමට නම් මැයි මස 01 වැනිදාට පෙර ඉන්දන මිල වැඩි කරන ලෙස දන්වා ඇති බවයි

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Re: LIOC.N0000 (Lanka IOC PLC)

Post by nihal123 on Mon Apr 23, 2018 10:58 am

Thanks YK
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Re: LIOC.N0000 (Lanka IOC PLC)

Post by CK on Mon Apr 23, 2018 1:12 pm

If it's implemented, the future of lioc is good.
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Re: LIOC.N0000 (Lanka IOC PLC)

Post by spw19721 on Mon Apr 23, 2018 11:01 pm

Thanks YK..

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Re: LIOC.N0000 (Lanka IOC PLC)

Post by yellow knife on Thu May 10, 2018 1:37 pm

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May 10, 2018 at 1:20 pm | lanka C news [You must be registered and logged in to see this image.]
අද මධ්‍යම රාත‍්‍රියේ සිට ඉන්ධන මිල ඉහල දැමීමට රජය තීරණය කර තිබේ.
ඊයේ රාත‍්‍රියේ පැවති විශේෂ ඇමති මණ්ඩල රැුස්වීමකදී මෙසේ තෙල් මිල ඉහල දැමීමට තීරණය කලේ ඇමති රාජිත සේනාරත්න මහතා පැවසීය.
ඒ අනුව රට පුරා නව ඉන්ධන මිල ගණන් මෙසේය.
ඔක්ටේන් 92 පෙට‍්‍රල් – රුපියල් 137
ඔක්ටේන් 65 පෙට‍්‍රල් – රුපියල් 148
ඔටෝ ඞීසල් – රුපියල් 109
සුපර් ඪීසල් – රුපියල් 119
භූමිතෙල් – රුපියල් 101
පෙට‍්‍රල් ලීටරයකින් රුපියල් 20ක්, ඔටෝ ඞීසල් ලීටරයකින් රුපියල් 14ක්, සුපර් ඞීසල් ලීටරයකින් රුපියල් 09ක්, භූමිතෙල් ලීටරයකින් රුපියල් 57ක් මෙසේ ඉහල දමා තිබේ.
කෙසේ වෙතත් ඉන්ධන මිල සූත‍්‍රය සදහා මෙතෙක් කැබිනට් මණ්ඩල අනුමැතිය ලැබී නැත.

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Re: LIOC.N0000 (Lanka IOC PLC)

Post by Ethical Trader on Thu May 10, 2018 5:37 pm

Thanks YK for sharing.

Ultimately a hole in the treasury is plugged, though belated.
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Re: LIOC.N0000 (Lanka IOC PLC)

Post by කිත්සිරි ද සිල්වා on Fri May 11, 2018 8:25 am

එකක් ප්ලග් කරගන්න කොට, තව දහයක් හිල් කරගන්නවා මේ හරක් රැළ. Very Happy
Ethical Trader wrote:Thanks YK for sharing.
Ultimately a hole in the treasury is plugged, though belated.
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Re: LIOC.N0000 (Lanka IOC PLC)

Post by slstock on Fri May 11, 2018 12:25 pm

Actually though this Fuel hike seems a necessity and wise move, there are several issues.

1) This price revision was decided by some person.   Still there is no agreed price formula. I hear parliament people have not come to a consensus on it

2) In mid 2014 , oil was around $100 a barrel.
   I believe highest petrol went in SL was close to Rs 170

Now  it is Rs 137 ( after about 20% weakening of rupee from 2015 and oil close to $70 a barrel.

3) During the time when Oil went below $30 a barrel ( when Rs was also stronger), think of the profit/saving the country could have had when sold at Rs 117.

4) Kerosene is hiked by an unprecedented Rs 57 a liter. Lot of poor people use it to light lamps .

Now there is a theory that Local Buses pump Kerosene  to reduce costs.
If this move was to prevent such, Government  may have solved one problem but introduced another ( poor man fuel was doubled in price)



Summary :

Previous Government + this government is clearly mismanaging the economy. Fuel issue is very good example of such .

I don't think this sudden move of a hike with no clear plans  is well thought out though it looks needed Wink

Now this will give the other indecent  people who want to take advantage of this hike  to
a)  raise bus fares
b) food prices

unjustifiably.


ANOTHER BIG BLOW TO THE COMMON MAN who is taxed left and right due to mis management by politicos ( previous and now)  and now also have to bear the repercussions of this move.

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Re: LIOC.N0000 (Lanka IOC PLC)

Post by The Invisible on Fri May 11, 2018 7:35 pm

slstock wrote:Actually though this Fuel hike seems a necessity and wise move, there are several issues.

1) This price revision was decided by some person.   Still there is no agreed price formula. I hear parliament people have not come to a consensus on it

2) In mid 2014 , oil was around $100 a barrel.
   I believe highest petrol went in SL was close to Rs 170

Now  it is Rs 137 ( after about 20% weakening of rupee from 2015 and oil close to $70 a barrel.

3) During the time when Oil went below $30 a barrel ( when Rs was also stronger), think of the profit/saving the country could have had when sold at Rs 117.

4) Kerosene is hiked by an unprecedented Rs 57 a liter. Lot of poor people use it to light lamps .

Now there is a theory that Local Buses pump Kerosene  to reduce costs.
If this move was to prevent such, Government  may have solved one problem but introduced another ( poor man fuel was doubled in price)



Summary :

Previous Government + this government is clearly mismanaging the economy. Fuel issue is very good example of such .

I don't think this sudden move of a hike with no clear plans  is well thought out though it looks needed Wink

Now this will give the other indecent  people who want to take advantage of this hike  to
a)  raise bus fares
b) food prices

unjustifiably.


ANOTHER BIG BLOW TO THE COMMON MAN who is taxed left and right due to mis management by politicos ( previous and now)  and now also have to bear the repercussions of this move.

Agree but what is the solution. The one party to the main issues is licking their lips once again seeing how people are suffering from mental forbia couple of months back. Isn't the country's masses are digging their own graves as well as advance digging for their next generation as well.
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Re: LIOC.N0000 (Lanka IOC PLC)

Post by slstock on Fri May 11, 2018 10:49 pm

Am not sure, whether anyone got to the depth of what was said below.  
Let me try differently

1) These SUDDEN  price hikes by LARGE AMOUNTS  needs to stop .
   When they suddenly increase by 20-50% , almost everything else in the country
   goes up by a lot.

2) Here is a question,

 when Fuel prices are raised , almost every thing in the country goes up.
 WILL  FOOD and Services  GO DOWN whenever it is lower ?

3) During the time Oil price $30 -40 , there would have been massive savings in oil import bills. Selling petrol at Rs 117 a liter should also have given good profits to  Government .  

So how was the savings  used to boost the economy ?
   Can anyone identify the where the problem is ?  




The Solution to 1) is

i)  ofcourse a Publicly TRANSPARENT Fuel price formula which  should be revised every 2-3 months. ( In developed countries the price varies every day!!!)

This regular updates will absorb sudden huge price variations and shocks.
This formula  should have been in place 6 decades ago.  It should not be there because IMF was pushing it.  

What am saying is these Ad Hoc big price hikes decided by someone are bad as there are no shock absorbing mechanisms  in a country like ours.


ii) There should also be some control formula to decide Bus fare hikes/transport costs  
wrt to fuel price. Technically when Fuel goes up the people who wait to pounce on it will make everything else go up.

So did anything come down proportionately when oil was at $30 ?


iii) in developing country like ours where there is no real social welfare system, it is hard to ignore the poor class. So there should be some incentives to the poor with respect to things like Kerosene. Giving SUDDEN 50% price hikes for EVERYONE  is not done.


~~~~~~~~~~~~~~~~~

 
NOW HERE IS A MILLION Rs QUESTION

After this price formula is in effect will CPC turn into profit for ever?






slstock wrote:Actually though this Fuel hike seems a necessity and wise move, there are several issues.

1) This price revision was decided by some person.   Still there is no agreed price formula. I hear parliament people have not come to a consensus on it

2) In mid 2014 , oil was around $100 a barrel.
   I believe highest petrol went in SL was close to Rs 170

Now  it is Rs 137 ( after about 20% weakening of rupee from 2015 and oil close to $70 a barrel.

3) During the time when Oil went below $30 a barrel ( when Rs was also stronger), think of the profit/saving the country could have had when sold at Rs 117.

4) Kerosene is hiked by an unprecedented Rs 57 a liter. Lot of poor people use it to light lamps .

Now there is a theory that Local Buses pump Kerosene  to reduce costs.
If this move was to prevent such, Government  may have solved one problem but introduced another ( poor man fuel was doubled in price)



Summary :

Previous Government + this government is clearly mismanaging the economy. Fuel issue is very good example of such .

I don't think this sudden move of a hike with no clear plans  is well thought out though it looks needed Wink

Now this will give the other indecent  people who want to take advantage of this hike  to
a)  raise bus fares
b) food prices

unjustifiably.


ANOTHER BIG BLOW TO THE COMMON MAN who is taxed left and right due to mis management by politicos ( previous and now)  and now also have to bear the repercussions of this move.

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Re: LIOC.N0000 (Lanka IOC PLC)

Post by slstock on Fri May 11, 2018 11:00 pm

I am sure some people will think LIOC should be a gold mine after this price formula is introduced. Note LIOC price recovered from Rs 29 to 35 already expecting this formula.

But , we need to keep in mind price formulae will not make LIOC profitable always.
So best not think LIOC is a gold mine.  There are other factors which decides LIOC profitability . Lesser discussed would be  Politics and internal  games  played by  LIOC to affect their financial statement results  Wink

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Re: LIOC.N0000 (Lanka IOC PLC)

Post by The Invisible on Sun May 13, 2018 7:40 am

At least it will prevent LIOC from hiding behind government decisions on prices to cover up their mismanagement and syphoning of money. Lets wait and see till the fuel price formula is fully operational.
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Re: LIOC.N0000 (Lanka IOC PLC)

Post by කිත්සිරි ද සිල්වා on Sun May 13, 2018 9:01 am

Another Glass ?  Very Happy
The Invisible wrote:At least it will prevent LIOC from hiding behind government decisions on prices to cover up their mismanagement and syphoning of money. Lets wait and see till the fuel price formula is fully operational.
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Re: LIOC.N0000 (Lanka IOC PLC)

Post by malanp on Sun May 13, 2018 9:54 am

I wrote this sometimes back in the forum;

LIOC mada a loss when oil prices $150, and still made a loss when oil price is $50...

Multinationals hide profits,,so defenitely LIOC is not an investment share,,but may be a trading share.. that depends on how traders get in and get out..
For me it is a garbage.. when you keep garbage inside home you got to suffer..

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Re: LIOC.N0000 (Lanka IOC PLC)

Post by slstock on Mon May 14, 2018 11:38 am

malanp wrote:I wrote this sometimes back in the forum;  

LIOC mada a loss when oil prices $150, and still made a loss when oil price is $50...

Multinationals hide profits,,so defenitely LIOC is not an investment share,,but may be a trading share.. that depends on how traders get in and get out..
For me it is a garbage.. when you keep garbage inside home you got to suffer..  


Yes you have made a good observation on this.

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Re: LIOC.N0000 (Lanka IOC PLC)

Post by CK on Mon May 14, 2018 11:51 am

another trading opportunity may come..
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