PetroChina Bitumen Price
Last updated: 2026-10-01
PetroChina Bitumen Price: Current Levels, Grades and Market Outlook
PetroChina bitumen price currently ranges from $430–$510 per metric ton FOB China for standard penetration grades (60/70, 80/100), with premium polymer-modified bitumen (SBS PMB) at $620–$710 per ton. Kunlun-brand 60/70 pen bitumen, the group's flagship export grade, is quoted at approximately $465/ton FOB Xingang for March 2025 shipments, up 4.2% from the previous quarter. Domestic ex-refinery prices in China sit at RMB 3,650–3,900 per ton (approx. $505–540) including 13% VAT, reflecting firm demand from infrastructure and road construction.
What Determines the PetroChina Bitumen Price?
PetroChina (PetroChina Company Limited, 中国石油天然气股份有限公司) is Asia's largest bitumen producer, with annual capacity exceeding 10 million metric tons across refineries including Karamay, Liaohe, Lanzhou, Dalian and Qinhuangdao. Its Kunlun (昆仑) brand is one of the most recognized bitumen brands in Asia, Africa and the Middle East.
The export price is driven by five core factors:
- Crude oil benchmark – Bitumen tracks Brent and Oman crude with a lag of 2–4 weeks. Every $10/bbl move in Brent shifts bitumen prices by roughly $45–$60/ton.
- Refinery utilization and allocation – PetroChina prioritizes domestic road projects in Q2–Q3 (construction season), tightening export availability.
- Grade and specification – Penetration grades, PMB, and cutback bitumen carry different price premiums.
- Logistics and packaging – Bulk vessel, flexitank, drum (150 kg / 180 kg) and ISO tank pricing differ by $15–$45/ton.
- Seasonality – Q4 export offers typically dip 3–6% as Chinese domestic demand slows.
| Driver | Impact on Price | Typical Range |
|---|---|---|
| Brent crude move (+$10/bbl) | +$45–$60/ton | Direct correlation |
| Domestic demand peak (Q2–Q3) | +3–5% | Supply tightening |
| PMB vs. pen grade premium | +$150–200/ton | Grade upgrade |
| Drum vs. bulk premium | +$25–45/ton | Packaging |
| Q4 seasonal discount | −3–6% | Export window |
Current PetroChina Bitumen Price by Grade (March 2025 Reference)
The table below compares PetroChina's main export grades against regional competitors. Prices are FOB China unless noted.
| Grade | PetroChina (Kunlun) | South Korea (SK/Apollo) | Singapore (Shell/Esso) | Middle East (Bahrain) |
|---|---|---|---|---|
| 60/70 penetration | $465/ton | $480/ton | $495/ton | $440/ton |
| 80/100 penetration | $455/ton | $470/ton | $485/ton | $435/ton |
| 40/50 penetration | $485/ton | $500/ton | $515/ton | $460/ton |
| SBS PMB (I-D) | $660/ton | $685/ton | $705/ton | $640/ton |
| Cutback MC-30 | $540/ton | $555/ton | $570/ton | N/A |
| Emulsion (CSS-1H) | $415/ton | $430/ton | $445/ton | N/A |
Key observations:
- PetroChina typically undercuts Korean and Singapore refiners by $15–30/ton, making it the price leader in Southeast Asia and Africa.
- Middle East suppliers (Bahrain, Iran) can go $25–40/ton below PetroChina on base grades but carry higher freight and payment risk.
- PMB commands a $150–200/ton premium over base pen grade globally.
| Metric | Value (2024) |
|---|---|
| Total bitumen production capacity | 10.2 million tons/year |
| Export volume (est.) | 2.8–3.2 million tons/year |
| Main export grades | 60/70, 80/100, PMB |
| Main export markets | Indonesia, Vietnam, Philippines, Nigeria, Kenya, Bangladesh |
| Primary export ports | Xingang (Tianjin), Dalian, Qingdao, Zhanjiang |
| Avg. lead time (order to shipment) | 15–25 days |
| Minimum order (bulk vessel) | 3,000–5,000 tons |
PetroChina Bitumen Price Trend: 2023–2025
The chart-to-table below shows quarterly average FOB Xingang prices for 60/70 pen grade.
| Quarter | Avg. Price (USD/ton) | QoQ Change |
|---|---|---|
| Q1 2023 | $410 | — |
| Q2 2023 | $425 | +3.7% |
| Q3 2023 | $445 | +4.7% |
| Q4 2023 | $438 | −1.6% |
| Q1 2024 | $430 | −1.8% |
| Q2 2024 | $448 | +4.2% |
| Q3 2024 | $462 | +3.1% |
| Q4 2024 | $446 | −3.5% |
| Q1 2025 | $465 | +4.3% |
| Q2 2025 (forecast) | $470–490 | +1–5% |
Trend takeaways:
- Prices rose 13.4% from Q1 2023 to Q1 2025, driven by crude recovery and Asian infrastructure demand.
- The Q4 dip is consistent — a 3–4% seasonal correction as Chinese road work slows.
- Q2 2025 forecasts point to $470–490/ton if Brent holds above $75/bbl.
How to Buy PetroChina Bitumen: Channels, Terms and Costs
PetroChina bitumen reaches international buyers through three main channels, each with different pricing and risk profiles.
- Best for: orders above 5,000 tons, government tenders.
- Payment: LC at sight or 30–60 day usance.
- Price: benchmark minus $5–15/ton for volume.
- Lead time: 20–30 days.
- Best for: 500–5,000 ton orders, mixed grades.
- Payment: TT 30% deposit, 70% against B/L copy.
- Price: benchmark +$10–25/ton margin.
- Lead time: 10–20 days (stock available).
- Best for: urgent small lots (100–500 tons).
- Payment: TT 100% advance (higher risk).
- Price: benchmark +$25–50/ton.
- Lead time: 3–10 days.
| Cost Component | USD/ton | Total (5,000t) |
|---|---|---|
| FOB Xingang | $465 | $2,325,000 |
| Ocean freight (bulk) | $38 | $190,000 |
| Insurance (0.3%) | $1.4 | $7,000 |
| Import duty (Indonesia, 0%) | $0 | $0 |
| Port handling & discharge | $12 | $60,000 |
| Inland transport | $8 | $40,000 |
| Landed cost | $524.4 | $2,622,000 |
Note: Freight from China to Southeast Asia runs $30–45/ton; to West Africa $70–95/ton; to South America $90–120/ton.
PetroChina Bitumen vs. Competitors: Full Comparison
| Factor | PetroChina (Kunlun) | SK Energy (Korea) | Shell (Singapore) | Iran (Jey/ Pasargad) |
|---|---|---|---|---|
| Base grade price | $465 | $480 | $495 | $420–440 |
| Quality consistency | High | Very High | Very High | Medium |
| Brand recognition | High in Asia/Africa | High | Highest | Low–Medium |
| Payment flexibility | LC, TT | LC, TT | LC only | TT, barter |
| Delivery reliability | Very High | High | Very High | Medium |
| Certification (ASTM/EN) | Yes | Yes | Yes | Partial |
| PMB availability | Yes | Yes | Yes | Limited |
| Sanctions risk | None | None | None | High |
Verdict: PetroChina offers the best price-to-reliability ratio for Asian and African buyers. Korean refiners win on
premium projects requiring tighter spec tolerance; Singapore suppliers lead on brand-sensitive tenders; Iranian material is cheapest but carries payment, shipping and compliance risk.
FAQ: PetroChina Bitumen Price
Q1: What is the current PetroChina bitumen price per ton?
As of March 2025, PetroChina 60/70 pen bitumen is quoted at approximately $465/ton FOB Xingang, 80/100 at $455/ton, and SBS PMB at $660/ton. Domestic Chinese ex-refinery prices run RMB 3,650–3,900/ton including VAT.
Q2: Is PetroChina bitumen cheaper than Korean or Singapore bitumen?
Yes. PetroChina typically prices $15–30/ton below Korean (SK, Apollo) and Singapore (Shell, Esso) suppliers on equivalent grades. This discount reflects lower brand premium and shorter freight routes to Southeast Asian markets.
Q3: What is the minimum order quantity for PetroChina bitumen?
Direct PetroChina International orders usually start at 3,000–5,000 tons for bulk vessel shipment. Authorized trading houses can supply from 500 tons, while spot resellers may offer lots as small as 100 tons at a $25–50/ton premium.
Q4: How long does delivery take from PetroChina?
Standard lead time is 15–25 days from order confirmation to vessel departure, plus 7–20 days ocean transit to Southeast Asia or 25–40 days to Africa. Total door-to-door time averages 30–60 days.
Q5: Will PetroChina bitumen prices rise in 2025?
Q2 2025 forecasts suggest $470–490/ton, a 1–5% increase, assuming Brent stays above $75/bbl and Chinese infrastructure spending continues. A crude correction below $70/bbl would likely pull prices back to the $440–455 range.
Calculate Your PetroChina Bitumen Import Cost Instantly
Bitumen margins hinge on landed cost accuracy — freight, duty, port fees and inland transport can swing your total by $40–80/ton. Before you commit to a PetroChina offer, run the numbers.
Use the 6Tar cost calculator to model FOB, freight, insurance, duty and discharge costs for any destination in seconds — then compare PetroChina against Korean, Singapore and Middle East suppliers side by side. Accurate landed cost = better negotiation leverage.
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