Refining margins

The refinery margins service surveys spot and forward markets for global refining systems, highlighting challenges and opportunities for traders and optimisers. The service is led by Raul Alcamo in London.

     Refining margins report 

The Weekly margins report provides a snapshot of spot and forward margins for refining systems globally, drawing from our proprietary models. This new service allows subscribers to quickly evaluate market trends for refineries by regions, and highlights challenges and opportunities for traders and optimisers. It also enables subscribers to understand the evolution of margins by refinery type and by product, as well as refiners’ appetites for different crude grades.

The report provides a visualisation of the absolute and relative strength of refinery margins by product in seven key regions: Northwest Europe, the Mediterranean, Singapore, the US Gulf Coast, the US East Coast, the US Midwest and the US West Coast, accompanied by brief analytical commentary. The data and charts are refreshed daily and are available online by 12:00 London time.

The key visualisations are:

• Complex refinery margins in both maximum gasoline and maximum diesel mode, for all the key regions.

• Breakdown of the recent evolution of complex margins.

• Conversion unit margins for the key regions.

• Breakdown of the evolution of conversion unit margins.

• Planned refinery maintenance.

• Technical analysis that aids the identification of forward hedging and trading opportunities by comparing the value of forward margins to the cash market's historical behaviour.

 

Each section of the report details the margins of specific configurations (gasoline-oriented, diesel-oriented, FCC and hydrocracker) from our proprietary models, which represents the weighted average distribution of different products coming out of refineries from a specific region.