PetroChina settles Dec Daqing, Jidong crude CNY48/tonne lower

29 November 2013 08:35 Source:ICIS News

SINGAPORE (ICIS)--PetroChina will settle its December Daqing and Jidong crude at yuan (CNY) 5,514/tonne ($123.86/bbl), down by CNY48/tonne from November levels, a company source said on Friday.

The price is on an ex-works (EXW) basis.

Daqing crude and Jidong crude account for 38% of PetroChina’s total crude output.

Its December settlement for other crude types, including Dagang, Huabei, Jilin and Changqing, will be CNY46-185/tonne lower than November prices, according to the source.

PetroChina generally pegs its crude settlements with values of Dubai crude.

($1 = CNY6.09)

By Amy Sun