Gasoline export earnings rise on higher Singapore prices

Chemical News: Gasoline export earnings rise on higher Singapore prices

https://www.chemnet.com Jul 22,2011
Gasoline export revenues for Chinese exporters increased as Singapore gasoline prices went up, C1's research found.

In Singapore market, FOB price of 92-Ron gasoline, which has similar specifications with 93-Ron gasoline in China, was US$123.7/bbl on average during Jul 8-21, versus the average of US$116.5/bbl two weeks ago. Chinese refineries could reap about Yuan 6,827/mt of earnings by exporting 93-Ron gasoline to Singapore under processing trade when excluding freight rates. The refineries could get Yuan 6,295/mt, about Yuan 532/mt lower, by selling such resources in domestic market if calculated by Yuan 8,989/mt of ex-refinery price from Sinopec Guangzhou Petrochemical, with Yuan 1,388/mt of consumption tax and 17% value-added tax deducted. Export earnings were Yuan 127/mt higher than domestic sales two weeks ago.

If calculated by the US$123.7/bbl of gasoline price in Singapore, import cost was Yuan 9,956/mt, with freight rates and taxes inclusive, Yuan 866/mt higher than wholesale prices of 93-Ron gasoline in South China. The cost was Yuan 289/mt higher than domestic sales two weeks ago.

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