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)