In this article, we will analyze the Wataniya bitumen grades and the
global market fluctuations. Generally, one of the most important effects
of the price of black gold on Iranian markets is the stock market, which
can directly or indirectly affect the performance and profitability of different industries and groups, and consequently the stock price in various
market symbols and ultimately the overall stock market index. In particular, the major companies and industries that index the Iranian stock market are
oil companies that have a large impact on the movement of the index with a
high volume of transactions. This effect, especially on the share price index
of refining and petrochemical companies, is higher than other companies
in the stock market due to its high dependence on oil and its
direct impact on prices and fluctuations.
As a matter of fact, the industries active in Iran’s energy sector indeed
benefit from the fixed and domestic prices of oil prices that are fixed
by the government, and world prices cannot have much impact on
performing these industries, but the export-oriented refining and
petrochemical industries pay attention. It leads to global oil prices
in international markets, which can affect the stock value of these industries.
Of course, the impact of Iran’s exchange rate on revenue generation and
changes in the share price of refineries and petrochemicals should not be ignored. Given that these companies can sell the currency generated by their exports
in the Iranian open market, so we can consider the price fluctuations of
the dollar an important factor in increasing or decreasing the
share of refineries and petrochemicals.
As seen from the charts above, the comparison of global oil price movements
and the index of petroleum products over the last 5 years does not show
a significant and direct relationship and the experts believed that the impact
of oil price fluctuations in global markets with delays on refining and petrochemical products is effective, while the greatest effect of oil price
growth is because of foreign exchange earnings from exports,
which will be effective if proper management of foreign exchange resources.
It’s worth mentioning that petroleum products account for about 6% of
the market value and petrochemical products for about 19% of the market value. The market value of refineries is about 331,937 billion tomans, of which
250,435 billion tomans belong to the symbols of Shebandar, Shabriz, Shatran
and Shepna, ie 75% of the total market value of refineries are the
four mentioned symbols.
In sum, they related the most accumulated capital and profit among the
four symbols of refineries to Shepna and the highest market value is in
Bandar Abbas Oil Refinery. Since Isfahan Oil Refinery has the highest
capital among other refineries, it has a market share
and a share of a wider industry.