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The model refining margin of PKN Orlen almost doubled in October

The model refining margin of PKN Orlen almost doubled in October

2022-11-07 09:46, act 2022-11-07 10:23

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2022-11-07 09:46

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2022-11-07 10:23

The model refining margin of PKN Orlen almost doubled in October
The model refining margin of PKN Orlen almost doubled in October
photo: Mateusz Włodarczyk / / FORUM

The model refining margin of PKN Orlen increased in October 2022 to USD 31.4 from USD 16.7 in September, PKN Orlen announced on its website. The differential increased to USD 5.9 in October from USD 4.2 in September.

The increase in the differential is the result of weaker demand from India and China resulting from the approaching date for the imposition of sanctions on Russian oil by the European Union, including the imposition of a maximum price on Ural oil, as well as the availability of an alternative oil to Ural oil (Johan Sverdrup, KEBCO).

The model petrochemical margin of the PKN Orlen group in October was EUR 993 per ton compared with EUR 1,087 per ton a month earlier.

The company informed that in October the average price of a barrel of Brent crude oil was USD 93.3 against USD 89.9 in September. The price increase was mainly due to OPEC +’s decision to cut production by 2 million barrels a day from November 2022, as well as the impending date of sanctions on Russian oil by the EU from December 5, 2022.

Cracki diesel cars increased by 36 percent. mdm to 490 USD / t. The reason – as reported by Orlen – is the limited availability of products (strikes in French refineries, shutdowns of refineries in Europe), small reserves of raw material in Europe, greater demand for diesel used as a substitute for expensive natural gas, and increased exports from Poland to Ukraine.

Cracki on gasoline increased by 33 percent last month. month-to-month up to $ 312 / tonne. Orlen pointed to the limited availability of products (strikes in French refineries, closures of refineries in Europe) as well as the demand from West Africa as the reason.

Cracki on HSFO decreased by 17 percent. mdm, down to minus $ 341 / t. The reason is, according to PKN Orlen, the saturation of the European HSFO market (import of products from Saudi Arabia, Mexico and Colombia). (PAP Biznes)

pr / prof /

Source:PAP Biznes
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