26 April 2012 11:20 [Source: ICIS news]
SINGAPORE (ICIS)--The refining margins of major Chinese refiners that use ?xml:namespace>
Based on integrated ex-refinery prices of oil products, the gross margin for refining Oman crude was yuan (CNY) 305/tonne (or $6.49/bbl) on 25 April, down by CNY53/tonne (or $1.13/bbl) from two weeks ago as the prices of refined products fell by CNY55/tonne or 0.8%.
However, the margin for refining Daqing crude rebounded to minus CNY94/tonne (or minus $2.02/bbl) on 25 April from minus CNY118/tonne (or minus $2.53/bbl) two weeks ago, mainly because of a 0.3% of gains in refined product prices.
The costs of Daqing crude and
The refining margin is the difference between a refinery’s wholesale income from oil products and its cost of crude.
($1 = CNY6.31)
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