PetroChina is expected to reduce ex-refinery prices of naphtha from its subsidiary refineries by Yuan 40/mt to Yuan 6,321/mt this September, according to its calculating formula.
The refiner has changed its pricing system for naphtha since Sep 1 of 2005 by taking FOB Singapore Mean in the period starting from 26th of the previous month to 25th of the front month as its reference for its naphtha ex-refinery price for the next month.
