Caltex Refiner Margin Update for September 2017

The September unlagged CRM was US$15.05/bbl. This is below the prior month (August 2017: US$15.41/bbl) but above the prior year monthly comparative (US$10.82/bbl).

The September unlagged Caltex Singapore Weighted Average Margin was US$13.96/bbl, which is below the prior month (August 2017: US$14.08/bbl) but above the prior year (September 2016: US$10.02/bbl).

Higher Brent crude oil prices in the last week of September drove an unfavourable US($0.96)/bbl pricing lag (August: unfavourable US($0.42/bbl) pricing lag). The September 2017 realised CRM was US$14.10/bbl. This is below the August 2017 CRM of US$14.99/bbl but above the prior year comparative (September 2016: US$10.94/bbl).

Sales from production in September 2017 of 492 ML were below the prior month (August 2017: 545 ML) and the prior year comparative (August 2016: 532 ML). There were a number of short planned outages in September impacting production.

For the nine months to 30 September 2017, the average realised CRM was US$13.26/bbl (2016 US$9.94/bbl) with CRM sales from production totalling 4,536 ML (2016: 4,616 ML).

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