03 July 2012 08:48 [Source: ICIS news]
SINGAPORE (ICIS)--Chinese oil and gas giants Sinopec and PetroChina have both reduced their contract prices of jet kerosene for July deliveries by yuan (CNY) 741/tonne ($117/tonne), in line with weakening prices in international markets, sources from the two companies said on Tuesday.
Effective 1 July, Sinopec and PetroChina will charge CNY6,718/tonne and CNY6,708/tonne ex-refinery respectively for jet kerosene, supplying to China National Aviation Fuel – the sole jet kerosene supplier to airlines in China.
Under the existing pricing mechanism, jet fuel prices are adjusted on the first day of each month to reflect changes of the benchmarking mean prices in Singapore in the previous month.
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