Fitch: Margin pressure on Chinese refiners

Fitch Ratings commented that Chinese refiners' margins are likely to be constrained by a surplus in refining capacity and the government's conservative approach toward domestic fuel price rises in 2010.

Fitch said it believes that Chinese refining margins in 2010 will be lower than 2009 as refining capacity is being added faster than the growth in demand for refined oil products.

The agency also said expects the Chinese government to continue to tightly regulate domestic fuel prices, which will maintain the pressure on refining margins.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.