It is dividend time! I have sold my BAZAN Israeli Oil Refineries shares because the oil refining business - so I thought - was finished for the next decade. It appears now that me and the experts were wrong: BAZAN earned 182 million dollars and is paying out (not to me) 75 million dollars in dividends. Its refining margin is 4.9 dollar per barrel when the world average is only 1.9 dollar. Should I return to it? BAZAN's price is still under its original valuation.
8 comments:
Koko say: "Yes!".
Anon.
Is oil efining going to be a good business in the future? Why? Only two months ago it was agreed that the oil era was ending.
The oil era is NOT ending in our lifetimes - since when do you listen to the ravings of green lunatics? Will we all drive around in cars that run on dried sewage and used felafel oil?
K
Oil price is rising just when the winter heating season is ending.
Does it mean that refining is a good business once more? That the Ural margin quoted by everybody is nonsense?
PS Dont laugh about dried sewage. America's best minds are working day and night on the problem. Enormous research funds are being channeled to solve this problem.
The above was a sarcasm.
The joke is not funny when it's being done with your own money.
K
I assume it is not.
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