Home Page Lower crude price a boon for Z Energy - NZResources.com
All articles are now Free to View!
25/1/2019 — Oil and Gas
Lower crude price a boon for Z Energy

The lower price of crude oil in the December quarter had a positive impact on Z Energy Ltd’s (NZX & ASX: ZEL) operational performance.

The company’s quarterly report said this meant the company was able to improve its competitive position in the retail market with less pressure on both retail and commercial margins.

The reversal of the crude price lag and reduced retail margin compression in the quarter allowed for a review of FY19 earnings guidance with the RC EBITDAF for the full year revised upwards to between $420 M and $450 M.

Z Energy said dividend guidance has also increased, based on higher third quarter earnings and a more stable crude outlook.

Total dividends for FY19 are now expected to be between 38 and 47 cents per share inclusive of the 12.5¢/share interim dividend paid in December 2018.

In the December quarter Z Group total fuel volumes were 197 million litres for Z petrol and 109 M litres for Caltex, both greater than the September quarter, while Z diesel as 76 M litres and Caltex 41 M litres while commercial sales were 208 M litres.

Accessed via NZResources.com account: - no subscription / expired subscription