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 ?xml:namespace>
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)
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