The RMM uses regional crack spreads to calculate the margin indicator and does not include estimates of fuel costs and other variable costs. The RMM is similar to the approach used by many of our competitors.
This page sets out how bp calculates its RMM.
RMMs are simplified regional margin indicators based upon product yields and a single “marker” crude oil deemed appropriate for the region. (e.g. Brent for Europe and WTI for the USMW). For example, being a single marker crude, the RMM does not include the impact of heavy Canadian crude in our US refining system.
|US Mid West||WTI||Coking||66.7%||33.3%|
|US North West||ANS||Coking||60.0%||40.0%|
|North West Europe||Brent||Cracking||50.0%||50.0%|
|US Mid West||US North West||North West Europe||Mediterranean|
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