International Energy Newsletter: Following the oil refining losses of RMB 6.132 billion in the first quarter, CNPC continued to expand its losses in April. Informed sources told this newspaper that PetroChina’s refining losses in April exceeded 5 billion yuan.
The above news has not yet received a reply from PetroChina.
The reason for the huge loss of the two giants is that international oil prices have continued to exceed 100 US dollars this year. The domestic product oil price adjustment is only about 90 US dollars, a difference of 10 to 20 US dollars. Fu Chengyu, chairman of Sinopec, once said that according to the current international oil price, each barrel of oil will lose nearly 20 US dollars.
Today, although international oil prices began to fall, WTI crude oil prices fell below US$100/barrel. However, due to the fact that crude oil purchased in April was purchased at a high price before the drop in oil prices, refining losses increased.
The above news has not yet received a reply from PetroChina.
The reason for the huge loss of the two giants is that international oil prices have continued to exceed 100 US dollars this year. The domestic product oil price adjustment is only about 90 US dollars, a difference of 10 to 20 US dollars. Fu Chengyu, chairman of Sinopec, once said that according to the current international oil price, each barrel of oil will lose nearly 20 US dollars.
Today, although international oil prices began to fall, WTI crude oil prices fell below US$100/barrel. However, due to the fact that crude oil purchased in April was purchased at a high price before the drop in oil prices, refining losses increased.
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