China’s major refinery margins hold steady in mid-April

17 April 2013 12:36  [Source: ICIS news]

SINGAPORE (ICIS)--The refining margins of major Chinese refiners stayed stable in the past two weeks as oil product prices only slightly changed, ICIS data showed on Wednesday.

Based on the integrated ex-refinery prices of oil products, the margins for refining Daqing crude averaged at minus yuan (CNY) 69/tonne (or minus $1.51/bbl) on 17 April, versus minus CNY61/tonne (or minus $1.34/bbl) two weeks ago.

The gross margins for refining Oman crude, a representative of foreign crude, averaged at CNY230/tonne (or $5.07/bbl), a rise of CNY12/tonne (or $0.26/bbl) from two weeks earlier.

The wholesale prices of refined products from Daqing crude declined by 0.13% and those from Oman crude gained by 0.20%, respectively, according to the data from C1 Energy, an ICIS service in China.

The prices of Daqing crude and Oman crude were unchanged at CNY5,652/tonne and $108.09/bbl, the data also showed.

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

($1 = CNY6.19)

By: Amy Sun
+65 6780 4359

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