· C1 Price Assessment Methodology · Refinery Data · Fuel Oil Inventory Data · Settlement Prices from Sinopec/PetroChina	· Import/Export Profit Margin Data · Import Volume Forecast Data · Official Statistical Data

C1 Price Assessment Methodology

General C1 is committed to providing benchmark price assessments on Chinese oil market, so as to improve market transparency and enhance trading efficiency.		MOC C1 assesses the markets based on the Market On Close (or MOC) system, in which the assessment reflects the tradable range of the accessed product as of the close of the trading day, under certain principles. C1 selects 16:30 Beijing time as the MOC. C1 also takes into its editorial consideration transactions, bids and offers seen during the assessment day. These inputs are analyzed and normalized to reflect an end-of-day market value at 16:30 Beijing time. The market transactions, bids or offers on the assessment day/week are discovered by C1’s analysts. Any deal made after the MOC is not considered in C1’s assessment, but can be used as reference to see whether a transaction price considered is repeatable.
Definition of assessment An assessment is a price that reflects the tradable value of the market, based on certain principles.
Frequency of assessment C1 assesses fuel oil, bunker, gasoline, gasoil, kerosene, naphtha, LPG, crude, and DME markets every working day; and assesses bitumen market every Monday, Wednesday and Friday. Base oil market is assessed every Tuesday.

Refinery Data

C1’s refinery data cover a pool of major refineries with topping capacity above 120kb/d underlying top two refiners PetroChina and Sinopec as well as independent refineries located in Shandong of East China and Guangdong in South China. The data pool is based on a biweekly survey on utilizations and monthly topping margins of majors; and a weekly survey on operation rates and average refining margins on crude oil and straight-run fuel oil by independents. It reflects crude throughput and products production trend in Chinese market.
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Fuel Oil Inventory Data

C1’s fuel oil Inventory data reflect weekly changes in China’s commercial fuel oil inventories in South China, Zhoushan of Zhejiang province and Shandong province coastal areas in East China, the three major fuel oil import markets in the country. That shows the supply and demand fundamentals in the Chinese fuel oil market and its demand for imports.
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Settlement Prices from Sinopec/PetroChina

C1 collects settlement prices for Shengli crude, Daqing crude and naphtha prices between/within PetroChina and Sinopec on a monthly basis, a factor that directly influences on the top two refiners’ refining cost and margins, and thus impacts on the supply and demand fundamentals of China’s oil market.
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Import/Export Profit Margin Data

C1 also builds data pool on import and export profit margins for products like fuel oil, gasoline, gasoil, MTBE, and LPG. The margin data pool-which reflects import/export interests of importers/exporters – can facilitate readers to discern China’s import demand and export possibilities.
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Import Volume Forecast Data

Under C1’s Official Statistical Data Pool, all statistics on crude/products imports, exports, output and apparent consumption released by the National Bureau of Statistics and General Administration of Customs are collected. The data pool – with collections of nearly ten years – is helpful to build China’s crude oil and products fundamental profile.
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Official Statistical Data

Under C1’s Official Statistical Data Pool, all statistics on crude/products imports, exports, output and apparent consumption released by the National Bureau of Statistics and General Administration of Customs are collected. The data pool – with collections of nearly ten years – is helpful to build China’s crude oil and products fundamental profile.
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For more official statistical data on Base Oil, Bitumen, Gas Oil, Gasoline, Kerosene, LPG, Naphtha, Natural Gas, Lubricant Oil, Petroleum Coke, and Petroleum Wax, please contact us.

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