{"id":40148,"date":"2026-03-09T12:46:48","date_gmt":"2026-03-09T12:46:48","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/par-petroleum%ec%9d%98-2025%eb%85%84-12%ec%9b%94-%eb%b6%84%ea%b8%b0-%eb%a7%a4%ec%b6%9c%ec%9d%80-18%ec%96%b5-1000%eb%a7%8c-%eb%8b%ac%eb%9f%ac%eb%a1%9c-1-%ea%b0%90%ec%86%8c%ed%96%88%ec%9c%bc%eb%a9%b0\/"},"modified":"2026-03-09T12:46:48","modified_gmt":"2026-03-09T12:46:48","slug":"par-petroleum%ec%9d%98-2025%eb%85%84-12%ec%9b%94-%eb%b6%84%ea%b8%b0-%eb%a7%a4%ec%b6%9c%ec%9d%80-18%ec%96%b5-1000%eb%a7%8c-%eb%8b%ac%eb%9f%ac%eb%a1%9c-1-%ea%b0%90%ec%86%8c%ed%96%88%ec%9c%bc%eb%a9%b0","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/par-petroleum%ec%9d%98-2025%eb%85%84-12%ec%9b%94-%eb%b6%84%ea%b8%b0-%eb%a7%a4%ec%b6%9c%ec%9d%80-18%ec%96%b5-1000%eb%a7%8c-%eb%8b%ac%eb%9f%ac%eb%a1%9c-1-%ea%b0%90%ec%86%8c%ed%96%88%ec%9c%bc%eb%a9%b0\/","title":{"rendered":"Par Petroleum\uc758 2025\ub144 12\uc6d4 \ubd84\uae30 \ub9e4\ucd9c\uc740 18\uc5b5 1,000\ub9cc \ub2ec\ub7ec\ub85c 1% \uac10\uc18c\ud588\uc73c\uba70, EPS\ub294 1.17\ub2ec\ub7ec\ub85c \uc0c1\uc2b9\ud588\uc2b5\ub2c8\ub2e4."},"content":{"rendered":"Par Petroleum\uc740 2025\ub144 12\uc6d4 \ubd84\uae30 \ub9e4\ucd9c\uc774 18\uc5b51\ucc9c\ub9cc \ub2ec\ub7ec\ub85c, \uc804\ub144 \ub300\ube44 1% \uac10\uc18c\ud588\ub2e4\uace0 \ubc1c\ud45c\ud588\uc2b5\ub2c8\ub2e4. \uc8fc\ub2f9\uc21c\uc774\uc775(EPS, **\uc8fc\uc2dd 1\uc8fc\ub2f9 \ubc8c\uc5b4\ub4e4\uc778 \uc774\uc775**)\uc740 1.17\ub2ec\ub7ec\ub85c, 1\ub144 \uc804 -0.79\ub2ec\ub7ec(\uc801\uc790)\uc5d0\uc11c \uac1c\uc120\ub410\uc2b5\ub2c8\ub2e4. \n\n\ub9e4\ucd9c\uc740 Zacks \ucee8\uc13c\uc11c\uc2a4 \ucd94\uc815\uce58(\uc6d4\uac00 \uc560\ub110\ub9ac\uc2a4\ud2b8\ub4e4\uc758 \ud3c9\uade0 \uc608\uc0c1\uce58) 17\uc5b51\ucc9c\ub9cc \ub2ec\ub7ec\ubcf4\ub2e4 5.9% \ub192\uc558\uc2b5\ub2c8\ub2e4. EPS\ub294 \ucee8\uc13c\uc11c\uc2a4 \ucd94\uc815\uce58 1.21\ub2ec\ub7ec\ubcf4\ub2e4 2.91% \ub0ae\uc558\uc2b5\ub2c8\ub2e4. \n\n

\uc8fc\uc694 \uc6b4\uc601 \uc9c0\ud45c<\/h3> \n\uc815\uc720 \uc6d0\ub8cc \ucc98\ub9ac\ub7c9(Refining feedstocks throughput, **\uc815\uc720 \uacf5\uc7a5\uc5d0 \ud22c\uc785\ud574 \ucc98\ub9ac\ud55c \uc6d0\uc720\u00b7\uc6d0\ub8cc\uc758 \uc591**)\uc740 190900(\uc6d0\ubb38 \ud45c\uae30) \ubc31\ub9cc \ubc30\ub7f4\ub85c, \uc560\ub110\ub9ac\uc2a4\ud2b8 3\uba85\uc758 \ud3c9\uade0 \ucd94\uc815\uce58 189129.2\ubcf4\ub2e4 \ub192\uc558\uc2b5\ub2c8\ub2e4. \ud558\uc640\uc774 \ucc98\ub9ac\ub7c9\uc740 87.10 MMBBL\/D( **\ud558\ub8e8 \uae30\uc900 \ucc98\ub9ac\ub7c9 \ub2e8\uc704\ub85c, \u2018\ubc31\ub9cc \ubc30\ub7f4\/\uc77c\u2019\uc744 \ub73b\ud558\ub294 \ud45c\uae30**)\ub85c \ucd94\uc815\uce58 85.96 \ub300\ube44 \ub192\uc558\uace0, \uc6cc\uc2f1\ud134\uc740 37.00 \ub300 36.08\ub85c \ub192\uc558\uc2b5\ub2c8\ub2e4. \uc640\uc774\uc624\ubc0d\uc740 14.40 \ub300 15.53\uc73c\ub85c \ub0ae\uc558\uace0, \ubaac\ud0dc\ub098\ub294 52.40 \ub300 51.55\ub85c \ub192\uc558\uc2b5\ub2c8\ub2e4. \n\n\uc6cc\uc2f1\ud134 \uc815\uc720\uacf5\uc7a5\uc758 \ubc30\ub7f4\ub2f9 \uc870\uc815 \ub9e4\ucd9c\ucd1d\uc774\uc775(Adjusted gross margin per barrel, **\ubc30\ub7f4\ub2f9 \ub9e4\ucd9c\uc5d0\uc11c \uc6d0\uac00\ub97c \ube80 \uc774\uc775\uc744 \uc77c\ubd80 \ud56d\ubaa9 \uc870\uc815 \ud6c4 \uacc4\uc0b0\ud55c \uac12**)\uc740 8.32\ub2ec\ub7ec\ub85c, 2\uba85\uc758 \uc560\ub110\ub9ac\uc2a4\ud2b8 \ucd94\uc815\uce58 6.39\ub2ec\ub7ec\ubcf4\ub2e4 \ub192\uc558\uc2b5\ub2c8\ub2e4. \ubc30\ub7f4\ub2f9 \uc0dd\uc0b0\ube44\uc6a9(Production costs per barrel, **\ubc30\ub7f4 1\uac1c\ub97c \uc0dd\uc0b0\u00b7\ucc98\ub9ac\ud558\ub294 \ub370 \ub4dc\ub294 \ube44\uc6a9**)\uc740 \uc640\uc774\uc624\ubc0d\uc774 13.27\ub2ec\ub7ec\ub85c \ucd94\uc815\uce58 10.25\ub2ec\ub7ec\ubcf4\ub2e4 \ub192\uc558\uace0, \uc6cc\uc2f1\ud134\uc740 4.57\ub2ec\ub7ec\ub85c 4.08\ub2ec\ub7ec\ubcf4\ub2e4 \ub192\uc558\uc2b5\ub2c8\ub2e4. \ud558\uc640\uc774\ub294 4.15\ub2ec\ub7ec\ub85c 4.70\ub2ec\ub7ec\ubcf4\ub2e4 \ub0ae\uc558\uc2b5\ub2c8\ub2e4. \n\n\uc815\uc720 \ubd80\ubb38 \ub9e4\ucd9c(Refining revenue, **\uc815\uc720 \uc81c\ud488 \ud310\ub9e4\ub85c \ubc1c\uc0dd\ud55c \ub9e4\ucd9c**)\uc740 17\uc5b55\ucc9c\ub9cc \ub2ec\ub7ec\ub85c \ucd94\uc815\uce58 15\uc5b57\ucc9c\ub9cc \ub2ec\ub7ec\ubcf4\ub2e4 \ub192\uc558\uc73c\uba70, \uc804\ub144 \ub300\ube44 1.2% \uac10\uc18c\ud588\uc2b5\ub2c8\ub2e4. \uc18c\ub9e4 \ub9e4\ucd9c(Retail revenue, **\uc8fc\uc720\uc18c\u00b7\ub9e4\uc7a5 \ub4f1 \uc18c\ube44\uc790 \ud310\ub9e4 \ub9e4\ucd9c**)\uc740 1\uc5b54,228\ub9cc \ub2ec\ub7ec\ub85c 1\uc5b54,587\ub9cc \ub2ec\ub7ec\ubcf4\ub2e4 \ub0ae\uc558\uace0, 0.5% \uc99d\uac00\ud588\uc2b5\ub2c8\ub2e4. \ubb3c\ub958 \ub9e4\ucd9c(Logistics revenue, **\uc6b4\uc1a1\u00b7\uc800\uc7a5 \ub4f1 \ubb3c\ub958 \uc11c\ube44\uc2a4 \ub9e4\ucd9c**)\uc740 7,371\ub9cc \ub2ec\ub7ec\ub85c 7,400\ub9cc \ub2ec\ub7ec\ubcf4\ub2e4 \ub0ae\uc558\uace0, 4.9% \uac10\uc18c\ud588\uc2b5\ub2c8\ub2e4. \n\n2025\ub144 12\uc6d4\uc5d0 \ub05d\ub09c \ubd84\uae30 \ubcf4\uace0\uc11c\ub97c \ub418\uc9da\uc5b4\ubcf4\uba74, Par Petroleum\uc758 \ubaa8\uc2b5\uc740 \uc5c7\uac08\ub838\uc2b5\ub2c8\ub2e4. \ub9e4\ucd9c\uc740 \uc608\uc0c1\ubcf4\ub2e4 \uc88b\uc558\uc9c0\ub9cc, EPS\ub294 \uc6d4\uac00 \uc608\uc0c1\uc5d0 \uc870\uae08 \ubabb \ubbf8\ucce4\uc2b5\ub2c8\ub2e4. \uc774\ub294 \uc6b4\uc601 \uc131\uacfc\ub294 \uac15\ud558\uc9c0\ub9cc \ucd5c\uc885 \uc774\uc775(\uc21c\uc774\uc775)\uc73c\ub85c \uc774\uc5b4\uc9c0\ub294 \uba74\uc5d0\uc11c\ub294 \uacfc\uc81c\uac00 \ub0a8\ub294 \uc0c1\ud669\uc785\ub2c8\ub2e4. \n\n\uc774 \uc774\uc57c\uae30\uc758 \uae0d\uc815\uc801\uc778 \ubd80\ubd84\uc740 \uac15\ud55c \uc6b4\uc601 \uc131\uacfc, \ud2b9\ud788 \uc6cc\uc2f1\ud134 \uc815\uc720\uacf5\uc7a5\uc758 \ub192\uc740 \ub9e4\ucd9c\ucd1d\uc774\uc775\uc785\ub2c8\ub2e4. \uc774\ub294 \ud68c\uc0ac\uac00 \uc88b\uc740 \uc2dc\uc7a5 \ud658\uacbd\uc744 \ud65c\uc6a9\ud560 \uc218 \uc788\uc74c\uc744 \uc2dc\uc0ac\ud569\ub2c8\ub2e4. \ucd5c\uadfc \ub370\uc774\ud130\uc5d0\uc11c \uae30\uc900 3:2:1 \ud06c\ub799 \uc2a4\ud504\ub808\ub4dc(3:2:1 crack spread, **\uc6d0\uc720 3\ubc30\ub7f4\uc744 \uc815\uc81c\ud574 \ud718\ubc1c\uc720 2\ubc30\ub7f4\uacfc \uacbd\uc720 1\ubc30\ub7f4\uc744 \ub9cc\ub4e0\ub2e4\uace0 \uac00\uc815\ud588\uc744 \ub54c\uc758 \uc815\uc81c \uc774\uc775 \uc9c0\ud45c**)\uac00 \uc9c0\ub09c\ub2ec \ubc30\ub7f4\ub2f9 30\ub2ec\ub7ec\ub97c \ub118\uc744 \uc815\ub3c4\ub85c \ud655\ub300\ub41c \uac83\uc73c\ub85c \ub098\ud0c0\ub098, \ub192\uc740 \uc218\uc775 \uac00\ub2a5\uc131\uc774 \uc788\uc2b5\ub2c8\ub2e4. \n\n

\uc635\uc158 \uc804\ub7b5 \uace0\ub824\uc0ac\ud56d<\/h3> \n\uadf8\ub7ec\ub098 \ud070 \ube44\uc6a9 \ucd08\uacfc\ub97c \ubb34\uc2dc\ud560 \uc218\ub294 \uc5c6\uc2b5\ub2c8\ub2e4. \ud2b9\ud788 \uc640\uc774\uc624\ubc0d \uc815\uc720\uacf5\uc7a5\uc740 \uc0dd\uc0b0\ube44\uc6a9\uc774 \uc608\uc0c1\ubcf4\ub2e4 \uac70\uc758 30% \ub192\uc544 \uc911\uc694\ud55c \uacbd\uace0 \uc2e0\ud638\uc785\ub2c8\ub2e4. \ub610\ud55c WTI \uc6d0\uc720 \uac00\uaca9(WTI crude, **\ubbf8\uad6d\uc758 \ub300\ud45c \uc6d0\uc720 \uac00\uaca9 \uae30\uc900**)\uc774 \uac15\uc138\ub97c \ubcf4\uc774\uba70 \ucd5c\uadfc \ubc30\ub7f4\ub2f9 \uc57d 85\ub2ec\ub7ec\uc5d0 \uac70\ub798\ub418\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc6d0\ub8cc \uac00\uaca9\uc774 \uc624\ub974\ub294 \ud658\uacbd\uc5d0\uc11c \ube44\uc6a9 \ubd80\ub2f4\uc774 \uacc4\uc18d\ub418\uba74, \uc815\uc81c \ub9c8\uc9c4(Refining margins, **\uc815\uc720\ub85c \ub0a8\uae30\ub294 \uc774\uc775 \ud3ed**)\uc774 \uc88b\uc544\ub3c4 \uc774\uc810\uc774 \uc904\uc5b4\ub4e4 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \n\n\ub192\uc740 \ub9c8\uc9c4 \uac00\ub2a5\uc131\uacfc \ub192\uc740 \ube44\uc6a9 \uc704\ud5d8\uc758 \uae34\uc7a5\uc740 PARR \uc635\uc158\uc758 \ub0b4\uc7ac \ubcc0\ub3d9\uc131(implied volatility, **\uc635\uc158 \uac00\uaca9\uc5d0 \ubc18\uc601\ub41c \u2018\uc55e\uc73c\ub85c \uc8fc\uac00\uac00 \uc5bc\ub9c8\ub098 \ud06c\uac8c \uc6c0\uc9c1\uc77c\uc9c0\u2019\uc5d0 \ub300\ud55c \uc2dc\uc7a5\uc758 \uc608\uc0c1**)\uc774 \ub0ae\uac8c \ud3c9\uac00\ub410\uc744 \uc218 \uc788\uc74c\uc744 \uc2dc\uc0ac\ud569\ub2c8\ub2e4. \ud070 \uac00\uaca9 \uc6c0\uc9c1\uc784\uc5d0\uc11c \uc774\uc775\uc744 \ubcf4\ub294 \uc804\ub7b5, \uc608\ub97c \ub4e4\uc5b4 \ub871 \uc2a4\ud2b8\ub798\ub4e4(long straddle, **\uac19\uc740 \ub9cc\uae30\u00b7\uac19\uc740 \ud589\uc0ac\uac00\ub85c \ucf5c\uc635\uc158\uacfc \ud48b\uc635\uc158\uc744 \ub3d9\uc2dc\uc5d0 \uc0ac\uc11c, \uc8fc\uac00\uac00 \ud06c\uac8c \uc624\ub974\uac70\ub098 \ud06c\uac8c \ub0b4\ub9ac\uba74 \uc774\uc775\uc744 \ub178\ub9ac\ub294 \uc804\ub7b5**)\uc774 \ud5a5\ud6c4 \uba87 \uc8fc\uc5d0 \uc720\ub9ac\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc774 \ud3ec\uc9c0\uc158\uc740 \ub9c8\uc9c4 \uac15\uc138\ub85c \uc8fc\uac00\uac00 \uc0c1\uc2b9\ud574\ub3c4, \ube44\uc6a9 \uc6b0\ub824\ub85c \ud558\ub77d\ud574\ub3c4 \uc774\uc775\uc744 \ub178\ub9bd\ub2c8\ub2e4. \n\n\uac15\uc138 \uad00\uc810\uc758 \ud2b8\ub808\uc774\ub354\ub77c\uba74 \uc678\uac00\uaca9 \ud48b \ud06c\ub808\ub527 \uc2a4\ud504\ub808\ub4dc(out-of-the-money put credit spread, **\ud604\uc7ac \uc8fc\uac00\ubcf4\ub2e4 \ub0ae\uc740 \ud589\uc0ac\uac00\uc758 \ud48b\uc635\uc158\uc744 \ud314\uace0 \ub354 \ub0ae\uc740 \ud589\uc0ac\uac00\uc758 \ud48b\uc635\uc158\uc744 \uc0ac\uc11c, \ud504\ub9ac\ubbf8\uc5c4(\uc635\uc158\uc744 \ud314\uc544 \ubc1b\ub294 \ub3c8)\uc744 \ubc1b\ub418 \uc190\uc2e4 \ubc94\uc704\ub97c \uc81c\ud55c\ud558\ub294 \uc804\ub7b5**)\ub97c \ud1b5\ud574 \ud504\ub9ac\ubbf8\uc5c4\uc744 \ubc1b\uc73c\uba74\uc11c \uc704\ud5d8\uc744 \uc815\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ucd5c\uadfc \ubd84\uae30 \uc815\uc720 \ub9e4\ucd9c\uc774 \ucd94\uc815\uce58\ubcf4\ub2e4 11% \ub118\uac8c \ub192\uc558\ub2e4\ub294 \uc810\uc740 \uc774 \uad00\uc810\uc758 \uadfc\uac70\uac00 \ub429\ub2c8\ub2e4. \uc774 \uc804\ub7b5\uc740 \uc8fc\uac00\uac00 \ud06c\uac8c \ub5a8\uc5b4\uc9c0\uc9c0 \uc54a\uace0 \uc720\uc9c0\ub418\uac70\ub098 \uc624\ub974\uba74 \uc720\ub9ac\ud569\ub2c8\ub2e4.\n\n\n

VT Markets \ub77c\uc774\ube0c \uacc4\uc815\uc744 \ub9cc\ub4e4\uace0 \uc9c0\uae08 \ubc14\ub85c \uac70\ub798<\/a>\ub97c \uc2dc\uc791\ud558\uc138\uc694.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

\ub9e4\ucd9c\uc740 \uc11c\ud504\ub77c\uc774\uc988, EPS\ub294 \ubbf8\uc2a4\u2014\ud30c \ud398\ud2b8\ub864\ub9ac\uc6c0\uc758 \uc5c7\uac08\ub9b0 \ubd84\uae30! 2025\ub144 12\uc6d4 \ubd84\uae30 \ub9e4\ucd9c 18.1\uc5b5\ub2ec\ub7ec(1%\u2193), \uc815\uc720\ub9c8\uc9c4 \uac15\uc138 vs \uc640\uc774\uc624\ubc0d \ube44\uc6a9 \uae09\uc99d\uc73c\ub85c \ubcc0\ub3d9\uc131 \ud655\ub300. \uc635\uc158\uc804\ub7b5 \uc8fc\ubaa9. – vtmarkets.com<\/p>\n","protected":false},"author":103,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-40148","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/40148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/comments?post=40148"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/40148\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=40148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=40148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=40148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}