15 August 2012 11:13 [Source: ICIS news]
SINGAPORE (ICIS)--Refining margins of major Chinese refiners improved in the past two weeks because of the rise in oil products prices, ICIS data showed on Wednesday.
Based on integrated ex-refinery prices of oil products, the gross margin for refining Oman crude, a representative of foreign crude, averaged CNY228/tonne (or $4.99/bbl) on 15 August, up by CNY196/tonne (or $4.28/bbl) from two weeks earlier.
The prices of
On the other hand, the sales revenue from processing
The margin for refining Daqing crude improved to CNY78/tonne (or $1.68/bbl) on 15 August, reversing the minus CNY189/tonne (or minus $4.08/bbl) two weeks ago.
Refining margin is the difference between crude prices and sales revenue.
($1 = CNY6.36)
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