The continuous increase in oil prices is conducive to the two major oil companies to reverse their refining losses.
since the second quarter of 2011, the refining businesses of the two major oil companies have been in a loss state. In 2011, PetroChina and Sinopec lost 60.1 billion yuan and 34.8 billion yuan respectively in refining business. At present, the losses of Sinopec and PetroChina's oil refining business have been heated. The thermal expansion of plastics can not be considered to affect the overall performance of "two barrels of oil". Previously, the semi annual reports released by Sinopec and PetroChina showed that their oil refining businesses lost 18.5 billion yuan and 23.308 billion yuan respectively in the first half of this year
the price adjustment of refined oil is closely related to the performance of oil refining business of oil enterprises. In the early morning of September 11, the oil price of finished products was increased for the fourth time in the year. The maximum retail price of gasoline and diesel was increased by 550 yuan/ton and 540 yuan/ton respectively. After conversion, it was about 0.4 yuan for gasoline and 0.45 yuan for diesel. The industry believes that the price hike of refined oil for two consecutive months will help the refining business reverse the loss situation
according to the monitoring data of treasure island, the crude oil settlement prices of Sinopec and PetroChina increased by more than 10% month on month in September, and their refining costs rose. However, after the increase of the retail price of refined oil, it is estimated that the ex factory price of gasoline and diesel oil in the refinery will also rise by about 6%, so as to alleviate the increase in cost caused by the rise of raw materials. One of our main goals is to help our customers launch better solutions according to market demand
an insider said, "judging from the current oil price, the oil refining business of oil enterprises has the opportunity to approach the balance of payments. It is expected that Brent phase oil will fall back to about $105 in the late third quarter, which will help support the more stable operation of oil refining business. The fall of oil price in June and July also improved the profit margin of oil refining business of oil enterprises at the end of August and September, and is expected to achieve profits."
in addition, at the mid-term performance conference held in August, fuchengyu, chairman of Sinopec, said that in response to external questions about whether the refining business losses in the second half of the year could be improved, "at present, the macro situation has changed, and I expect it to be better." ZhouJiping, President of PetroChina, revealed that "it has improved and will certainly be better in the second half of the year"
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