OREANDA-NEWS. In November 2015, LOTOS reported a model refining margin of USD 8.6 per barrel, up 47% on the previous month and up almost 4% year on year.

The model refining margin for the third quarter of 2015 was USD 7.41/bbl, compared with USD 6.97/bbl in the same period last year.

The margin calculation is built around the presented yield structure, with the following price indices assigned:

• 14.14% gasoline (PRM UNL 10 ppm ARA);
• 4.24% naphtha (Naphtha CIF NWE);
• 4.53% LPG (50% Propane FOB NWE, 50% Butane FOB NWE);
• 49.57% diesel oil (ULSD 10 ppm CIF NWE);
• 5.34% jet fuel (Jet CIF NWE);
• 18.11% heavy fuel oil (HFO 3.5%S ARA);
• 4.07% refinery’s own consumption.

The margin calculation is reduced by the estimated cost of natural gas consumption (including transmission costs), totalling approximately USD 3 per barrel of processed oil.