PetroChina Bitumen Price
Last updated: 2026-09-30
PetroChina Bitumen Price: Current Levels, Grades, and Export Benchmarks
As of Q2 2025, PetroChina's ex-works bitumen price for 70# (Pen 60/70) grade ranges from RMB 3,650–3,850 per metric ton (approx. USD 505–535/MT) for domestic Chinese buyers, while FOB export pricing sits at USD 480–510/MT depending on volume and port. For high-volume contracts (5,000+ MT), bulk discounts of 2–4% are standard, bringing effective pricing to as low as USD 465/MT FOB Tianjin.
What Determines the PetroChina Bitumen Price?
PetroChina is China's largest bitumen producer, operating refineries in Karamay, Liaohe, and Qinhuangdao. Its pricing follows a monthly adjustment cycle tightly correlated with crude oil benchmarks and domestic demand signals.
Key price drivers:
- Crude oil benchmarks: Brent crude at USD 72–85/bbl translates to bitumen production costs of roughly USD 420–470/MT
- Domestic infrastructure demand: China's road construction season (April–October) pushes prices up 5–8% versus winter lows
- Export quotas and tariffs: China levies a 13% VAT rebate adjustment on bitumen exports, affecting FOB competitiveness
- Shipping costs: Freight to Southeast Asia adds USD 25–45/MT; to Africa, USD 55–90/MT
| Grade | Domestic (Ex-Works RMB) | FOB Tianjin (USD) | FOB Karamay (USD) | CIF Singapore (USD) |
|---|---|---|---|---|
| Pen 60/70 (70#) | 3,650–3,850 | 480–510 | 470–495 | 525–560 |
| Pen 80/100 (90#) | 3,550–3,720 | 465–490 | 455–480 | 510–540 |
| Pen 40/50 (50#) | 3,800–4,000 | 505–535 | 495–520 | 550–590 |
| PG 64-22 | 3,900–4,100 | 515–545 | 505–530 | 560–600 |
| Modified (SBS I-C) | 4,400–4,800 | 595–640 | 580–625 | 645–695 |
Prices updated April 2025. Actual quotes depend on volume, payment terms, and Incoterms.
PetroChina vs. Other Major Suppliers
PetroChina competes directly with Sinopec, Shell, and regional Middle East refiners. The table below compares Pen 60/70 FOB prices for the same period.
| Supplier | Origin | FOB Price (USD/MT) | Min. Order (MT) | Lead Time (days) |
|---|---|---|---|---|
| PetroChina | China | 480–510 | 1,000 | 15–25 |
| Sinopec | China | 475–505 | 1,000 | 14–22 |
| Shell (Bitumen) | Singapore/Malaysia | 520–560 | 500 | 10–18 |
| Bahrain Petroleum | Bahrain | 495–525 | 2,000 | 20–30 |
| Iran (Jey Oil) | Iran | 430–465 | 5,000 | 25–40 |
Takeaways:
- PetroChina sits USD 15–40/MT below Shell but USD 15–35/MT above Iranian barrels
- Lead times favor Shell and Sinopec due to stockpiled inventory
- Iranian pricing carries sanctions-related payment and shipping risk
Historical Price Trend (2023–2025)
PetroChina adjusts its list price on the 1st of each month. Below is the quarterly average for Pen 60/70 FOB Tianjin.
| Quarter | Avg. FOB Price (USD/MT) | QoQ Change | Brent Avg. (USD/bbl) |
|---|---|---|---|
| Q1 2023 | 445 | — | 82 |
| Q2 2023 | 425 | −4.5% | 78 |
| Q3 2023 | 470 | +10.6% | 86 |
| Q4 2023 | 455 | −3.2% | 83 |
| Q1 2024 | 440 | −3.3% | 80 |
| Q2 2024 | 475 | +8.0% | 85 |
| Q3 2024 | 495 | +4.2% | 88 |
| Q4 2024 | 470 | −5.1% | 81 |
| Q1 2025 | 460 | −2.1% | 76 |
| Q2 2025 | 495 | +7.6% | 79 |
3-year average: USD 463/MT FOB Tianjin. The 10% peak-to-trough swing within any 12-month window means buyers should lock in quarterly contracts rather than spot-buy during Q3.
How to Buy PetroChina Bitumen at the Best Price
Reducing your landed cost by USD 30–50/MT is achievable with the right approach.
1. Buy in bulk
- 1,000–3,000 MT: standard list price
- 3,000–10,000 MT: 2–3% discount
- 10,000+ MT: 3–5% discount
2. Choose the right port
- Tianjin: lowest FOB but higher inland freight
- Karamay: best for Central Asia and Pakistan via land
- Qinhuangdao: optimal for Japan/Korea
3. Time your purchase
- Low season (Nov–Feb): prices 5–8% lower
- High season (Jun–Sep): peak construction demand
- Ramadan/Eid periods: reduced Middle East competition can improve your negotiating position
4. Payment terms
- T/T 30% deposit + 70% against B/L: standard
- L/C at sight: adds 0.5–1.5% in bank charges but reduces risk
- L/C 90 days: prices typically 1–2% higher
5. Verify grade compliance
- Require ASTM D946 / EN 12591 test certificates
- Check penetration at 25°C and softening point
- Insist on third-party inspection (SGS, Intertek) at USD 1.50–3.00/MT
| Cost Component | USD/MT | Total (USD) |
|---|---|---|
| PetroChina FOB Tianjin | 490 | 2,450,000 |
| Ocean freight | 32 | 160,000 |
| Insurance (0.3%) | 1.50 | 7,500 |
| Discharge & port | 4 | 20,000 |
| Import duty (Indonesia 5%) | 24.5 | 122,500 |
| Landed total | 552 | 2,760,000 |
Frequently Asked Questions
Q1: What is the current PetroChina bitumen price per ton?
As of Q2 2025, PetroChina's Pen 60/70 bitumen trades at RMB 3,650–3,850/MT ex-works in China (approx. USD 505–535/MT), while FOB export pricing from Tianjin is USD 480–510/MT. Bulk orders above 5,000 MT can achieve discounts of 2–4%.
Q2: Is PetroChina bitumen cheaper than Shell or Sinopec?
PetroChina is typically USD 15–40/MT cheaper than Shell and priced within USD 5/MT of Sinopec. Both Chinese producers benefit from lower crude procurement costs and integrated refinery operations, giving them an edge over Singapore-based blenders.
Q3: What is the minimum order quantity for PetroChina bitumen?
Standard MOQ is 1,000 MT for direct refinery purchases, though some traders consolidate smaller orders down to 200 MT with a 5–8% markup. For bulk discounts, plan for 3,000+ MT per shipment.
Q4: How long does delivery take from PetroChina?
Typical lead time is 15–25 days from contract signing to vessel loading at Tianjin or Karamay. Add 7–15 days of ocean transit for Southeast Asia and 20–35 days for Africa or South America.
Q5: Does PetroChina bitumen price include shipping?
No. PetroChina quotes FOB (Free On Board) or ex-works by default. Buyers must budget an additional USD 25–45/MT for Southeast Asia freight or USD 55–90/MT for Africa. CIF quotes are available but usually carry a 3–5% premium.
Calculate Your Exact PetroChina Bitumen Landed Cost
Spot prices change monthly, freight rates fluctuate weekly, and duties vary by destination country. To get a precise landed cost for your specific grade, volume, and port, use the 6Tar cost calculator — it consolidates FOB pricing, freight, insurance, tariffs, and port charges into one clear figure.
→ Try the 6Tar Cost Calculator now and compare PetroChina, Sinopec, and Middle East suppliers side by side in under 60 seconds.