LIOC.N0000 (Lanka IOC PLC)
- smallvilleTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
Once it breaks 37 the next barriers are 40 and 43-44 levels.
But note that if it doesn't pass 43-44 levels, it will be a double top which is a negative pattern.
at 30-33 levels, abt 11 million shares traded and since then only 2 million shares traded up to now.
My guess is LIOC is still under collection so can even trade between 35-37 for another couple of days. But with the EU news, it can also get activated and break 38 soon.
Disc - I have LIOC in my PF.
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- spw19721Active Member
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Re: LIOC.N0000 (Lanka IOC PLC)
- HAL9000Top contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
- CKActive Member
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Re: LIOC.N0000 (Lanka IOC PLC)
- yellow knifeTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
- yellow knifeTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
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- කිත්සිරි ද සිල්වාTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
Not otherwise.
yellow knife wrote:I added Barbados , a country that try to maintain fixed exchange rate and to maintain free education and free medical services..It seems Norway and Barbados are higher in Oil price.
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- smallvilleTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
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- yellow knifeTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
- yellow knifeTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
It starts showing a chart with oil price declining in the world market. Let me reproduce a chart we discussed earlier again.
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Quoted from CBSL Annual Report 2015
Domestic retail prices of petroleum products were reduced substantially in January 2015, in response to declining international oil prices.
The substantial reduction in domestic petroleum prices in early 2015 and the increased number of vehicles in the country raised the domestic demand for petroleum from the transportation sector.
Local sales of Petrol grew by 20.9% and the sale of diesel to the transportation sector increased by 3%. Yet total sales of diesel decreased by 7.7% due to the reduction of fuel oil based power generation owing to high hydro and coal power generation.
In spite of falling international oil prices, the CPC's financial position weakened during the year. As per the provisional financial statements CPC reported a loss of Rs 18.4 Billion in 2015 compared to marginal profit of Rs 1.5 Billion in 2014.
The main contributory factors for the weakling of the financial position of CPC included the substantial reduction of domestic petroleum prices at the beginning of the year without commensurate duty reduction and the depreciation of the rupee during the latter part of the year, which enlarged the CPCs trade payable and liabilities to the banking sector.
- Ethical TraderTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
- RanaTop contributor
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Interim Financial Statement 31-03-2016
- HAL9000Top contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
Rana wrote:[You must be registered and logged in to see this link.]
Thanks
YK must be happy to see the good earnings of LIOC
- HAL9000Top contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
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- yellow knifeTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
HAL9000 wrote:Rana wrote:[You must be registered and logged in to see this link.]
Thanks
YK must be happy to see the good earnings of LIOC
Yeah Happy to see the performance and sad to see the performance. When LIOC makes a profit of 2.2 Billion CPC makes 18 Billion loss for the same period. CPC made 1.4 Billion of profit last year and even after this massive oil price drop in world market CPC is making massive losses.
After all I am a tax paying Sri Lankan... and not an Indian...
For investing I have chosen LIOC but being a Sri Lankan I would have been many times happy to see CPC making profits and getting out of the burden zone of treasury and Sri Lankan tax payer.
Can any one see the crazy knot of government policy on domestic oil price?
- yellow knifeTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
- yellow knifeTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
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CRUDE OIL TECHNICAL ANALYSIS – Crude oil prices continue to tread water in a narrowing range below the $52/bbl figure. Near-term support is at 45.60, the 23.6% Fibonacci retracement, with a break below that exposing the 38.2% level at 41.86. Alternatively, a daily close above falling trend line resistance – now at 49.57 – targets the 23.6% Fib expansionat 51.86.
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- yellow knifeTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
Ceylon Petroleum Corporation which made billions of losses last year has recorded of profit of Rs 3.5 Billion within the first four months of this year as per Minister Chandima Weerakkody..
****************Source Divaina 12th July 2016
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LIOC has increased price of two types of oil by Rs 2.00. Thus Extra Mile Diesel and Euro Three Petrol liter has been increased by Rs 2.
- First Guy
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Re: LIOC.N0000 (Lanka IOC PLC)
economy next said first four months profit was massive 21.5 bil.
"CPC had made operational profits of 27.5 billion rupees in the first four months of the year, but finance costs lowered it to 21.4 billion rupees, the finance ministry said."
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From another news
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"Revenue from excise duty on petroleum products shot up 614.7 percent to Rs. 17,221 million during the first four months of 2016, compared the same period of 2015.
This was because of increased demand for petroleum products stemming from the reduction of retail prices of petrol and diesel and the rise of vehicle fleet by 11.6 percent in the review period. "
So one year of good vehicle sales in the country has increased the number of vehicles drastically and now it is resulting in more to the coffers via taxes on fuel.
- yellow knifeTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
Source of CPC profit is Lankadeepa 12th July 2016 and page 14
And the same CPC that reports different yet high Earnings for the first four months with profit recorded like this in Central Banks annual report earlier.
In spite of falling international oil prices, the CPC's financial position weakened during the year. As per the provisional financial statements CPC reported a loss of Rs 18.4 Billion in 2015 compared to marginal profit of Rs 1.5 Billion in 2014.
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So one year of good vehicle sales in the country has increased the number of vehicles drastically and now it is resulting in more to the coffers via taxes on fuel.
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- First Guy
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Re: LIOC.N0000 (Lanka IOC PLC)
Thanks for car registration data. Just like small and I said in some other thread, around 3 times the usual registrations happened in 2015 and if used regularly will use up fuel (although hybrid) and pay taxes.
should go to a shed and see price hike. but your post says only for Euro 3 and extra mile diesel which are LIOC products. normally fuel price hike is news, surprised not to see it yet in online news sites.
I was little positive on LIOC after looking at news on CPC profit. If CPC can make profit LIOC must make more than that.
- yellow knifeTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
If CPC can make profit LIOC must make more than that.
This oil price hike of LIOC was on yesterday's newspapers as well..last time they bore the loss on import tax but this time they are not ready to bear the loss but transfer it to consumer.. That is the indication with price hike.
- yellow knifeTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
Sri Lanka's only private owned oil company said it was reducing the prices of two of tis own oil vaireties namely Xtra Premium Euro petrol and Xtra Mile Diesel.
Even though government policy is to maintain fixed price for petrol and diesel, special varieties do not fall into that category...
- yellow knifeTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
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- HUNTERTop contributor
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Re: LIOC.N0000 (Lanka IOC PLC)
As a results of ongoing negative cash-flow, what do you think will happen to LIOC share prices next week?