C1 Energy (Shanghai) – Mar 10, 2010----Shengli crude-fed independent refineries in Shandong province record more refining margins this week, as most of their refined products trade higher, C1 observed.
Theoretical refining margin of these refineries has risen to about Yuan 603/mt on Mar 10, up Yuan 93/mt from Mar 3, C1's calculation indicates.
Their integrated sales revenues increased Yuan 93/mt in the week, supported by gains in gasoil, gasoline, LPG and petcoke markets. In the meanwhile, the settlement price of Shengli crude remains unchanged at Yuan 3,776/mt.
Some industry sources pointed out uptrend in the refining margin may face pressure in the near term, as an expected grow in refinery operating rates would weigh on prices of the refined oil products.
