China’s refining margins largely stable in late October

25 October 2012 03:58  [Source: ICIS news]

SINGAPORE (ICIS)--The average refining margins of major Chinese refineries were largely stable in late October, compared with two weeks ago, ICIS data showed on Thursday.

Based on the integrated ex-refinery prices of petroleum products, the margins for refining Daqing crude averaged at minus yuan (CNY) 197/tonne (minus $4.25/bbl) on 23 October, compared with minus CNY188/tonne two weeks ago.

The gross margins for refining Oman crude – a representative of foreign crude – averaged at CNY177/tonne, a rise of CNY2/tonne from two weeks earlier.

Ex-refinery prices of gasoline and gasoil were stable in the same period.

Refining margin is the difference between crude prices and sales revenue.

($1 = CNY6.25)

By: Amy Sun
+65 6780 4359

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