According to the analysis report of the Ministry of Information of the China Petroleum and Chemical Industry Association, the domestic economy has maintained a good momentum of growth this year, and the demand for petroleum and chemical products has steadily increased. This has enabled the country’s petroleum and chemical industries to continue to go well in terms of production, sales, prices, and imports and exports. The industry-wide realization of the current industrial output value and total profit is still maintained at a rate of more than 30%.
In the first half of this year, the petroleum and chemical industry continued to maintain a steady growth in production. In the first five months, the industry realized current industrial output value of 1,239.51 billion yuan, an increase of 36% year-on-year; industrial added value was 340.63 billion yuan, an increase from the same period of last year. 32.1%; product sales revenue 12020.75 billion yuan, an increase of 36.2%; total profits and taxes 208.94 billion yuan, an increase of 31.1%.
Since the beginning of this year, the demand for petroleum and chemical products has continued to grow rapidly in domestic economic development, and the market sales of crude oil, refined oil, and major chemical products have increased compared to last year. According to statistics, the sales rate of the entire industry in the first 5 months was 98.3%, an increase of 0.1 percentage points year-on-year.
In the first quarter, most oil and chemical products prices rose significantly under the combined effect of demand and cost. Among the 146 kinds of petroleum and chemical products that the China Petroleum and Chemical Industry Association focused on tracking, prices rose by 130 or more, accounting for nearly 90%. From May, the price fluctuations in the domestic oil and chemical markets have intensified. In June, the price of 146 kinds of products tracked by the focus fell by nearly half from the previous month to 70, accounting for 47.9%. Compared with the same period last year, there were 129 types, accounting for 88.4%.
In the first half of the year, the import and export trade of the petroleum and chemical industries showed new features: the rapid growth of export trade volume in the first quarter, the slowing growth of import trade, and the export growth rate was much faster than that of imports. The trade deficit of the entire industry was declining in recent few years. In April and May, import and export trade continued to maintain rapid growth, but the increase in trade deficit rebounded again. According to statistics, from January to May, the total import and export trade volume of the petroleum and chemical industries reached 76.9 billion U.S. dollars, accounting for 14.7% of the national total, an increase of 31.2% year-on-year. At the same time, the trade deficit reached US$3.303 billion, a year-on-year increase of 12.3%.
In the first half of this year, the international average oil price was at least 40% higher than the same period of last year. The soaring oil price directly brought profits to the oil and gas exploitation industry. In the first five months, the total industry realized a total profit of 139.66 billion yuan, a year-on-year increase of 37%.
In the first half of this year, the petroleum and chemical industry continued to maintain a steady growth in production. In the first five months, the industry realized current industrial output value of 1,239.51 billion yuan, an increase of 36% year-on-year; industrial added value was 340.63 billion yuan, an increase from the same period of last year. 32.1%; product sales revenue 12020.75 billion yuan, an increase of 36.2%; total profits and taxes 208.94 billion yuan, an increase of 31.1%.
Since the beginning of this year, the demand for petroleum and chemical products has continued to grow rapidly in domestic economic development, and the market sales of crude oil, refined oil, and major chemical products have increased compared to last year. According to statistics, the sales rate of the entire industry in the first 5 months was 98.3%, an increase of 0.1 percentage points year-on-year.
In the first quarter, most oil and chemical products prices rose significantly under the combined effect of demand and cost. Among the 146 kinds of petroleum and chemical products that the China Petroleum and Chemical Industry Association focused on tracking, prices rose by 130 or more, accounting for nearly 90%. From May, the price fluctuations in the domestic oil and chemical markets have intensified. In June, the price of 146 kinds of products tracked by the focus fell by nearly half from the previous month to 70, accounting for 47.9%. Compared with the same period last year, there were 129 types, accounting for 88.4%.
In the first half of the year, the import and export trade of the petroleum and chemical industries showed new features: the rapid growth of export trade volume in the first quarter, the slowing growth of import trade, and the export growth rate was much faster than that of imports. The trade deficit of the entire industry was declining in recent few years. In April and May, import and export trade continued to maintain rapid growth, but the increase in trade deficit rebounded again. According to statistics, from January to May, the total import and export trade volume of the petroleum and chemical industries reached 76.9 billion U.S. dollars, accounting for 14.7% of the national total, an increase of 31.2% year-on-year. At the same time, the trade deficit reached US$3.303 billion, a year-on-year increase of 12.3%.
In the first half of this year, the international average oil price was at least 40% higher than the same period of last year. The soaring oil price directly brought profits to the oil and gas exploitation industry. In the first five months, the total industry realized a total profit of 139.66 billion yuan, a year-on-year increase of 37%.
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