Sinopec, PetroChina cut Nov jet kerosene prices by CNY171/tonne

06 November 2012 02:59  [Source: ICIS news]

SINGAPORE (ICIS)--Chinese oil majors Sinopec and PetroChina have reduced their November jet kerosene prices by yuan (CNY) 171/tonne ($27/tonne) from October, because of the softening prices in international markets, sources from the two companies said on Tuesday.

Since 1 November, Sinopec and PetroChina have sold their jet kerosene at CNY7,752/tonne and CNY7,742/tonne ex-refinery respectively to China National Aviation Fuel (CNAF), according to the sources.

CNAF is the sole jet fuel 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.

($1=CNY6.25)


By: Jean Zou
+65 6780 4359



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