Chinese Oil-Refining Margins to Widen, Stanchart Says
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Chinese refiners led by China Petroleum & Chemical Corp. may boost profits from processing crude oil into fuels in the third quarter while margins in Singapore may decline, Standard Chartered Plc said.
“We have been highlighting the potentially high gross refining margins in China in the third quarter due to relatively lower in-tank costs and stable product prices,” Singapore-based analyst Han Pin Hsi said in a report today. “At the same time, we had projected Singapore margins to fall in line with seasonal trends and to continue to weaken through December.”