China’s Petrochem Industry Posts 1.1% Higher Revenue in Jan-Nov 2019
Click:246    DateTime:Jan.24,2020

In the first 11 months of 2019, the domestic petroleum and chemical industry posted operating revenue of RMB11.05 trillion, up 1.1% YoY, while total profits were down 17.6% YoY to RMB638.45 billion. Combined output of crude oil and natural gas was up 4.5% YoY to 317 million tons, and that of major chemicals was up 4% YoY.

   In November 2019, crude oil output was up 0.9% YoY to 15.7 million tons, natural gas output was up 7.9% YoY to 15.08 billion cubic meters, and LNG output was up 3% YoY to 1.02 million tons. China processed 56.08 million tons (up 10.1% YoY) of crude oil in the same month, and produced 30.76 million tons (up 1.9% YoY) of oil products (gasoline, kerosene and diesel). More specifically, output of diesel was basically the same as last year reaching 14.4 million tons, while that of gasoline was down 0.5% YoY to 11.86 million tons, and that of kerosene was up 17% YoY to 4.5 million tons.

   Ethylene output saw the highest growth of 18.9% YoY in 2019 to 1.78 million tons in November 2019, and pure benzene output was up 10.7% YoY to 722 000 tons. Methanol output was down 1% YoY to 4.24 million tons, while coatings output was up 11% YoY to 2.45 million tons, and chemical reagent output was up 15.7% YoY to 2.24 million tons. As for others, sulfuric acid output was down 3.9% YoY to 7.56 million tons, caustic soda output was down 0.4% YoY to 2.89 million tons, and calcium carbide output was down 8.1% YoY to 2.25 million tons. 

   Output of polycrystalline silicon was up 40.6% YoY to 37 000 tons, that of synthetic resin was up 11.3% YoY to 8.27 million tons, that of synthetic fiber monomer (polymer) was up 22.7% YoY to 6.5 million tons, and that of cover tyres was up 3.3% YoY to 72.47 million pcs.

   Fertilizer output was down 6.4% YoY to 4.41 million tons in November 2019. In detail, output of nitrogen fertilizers was up 0.8% YoY to 2.71 million tons, while that of phosphate fertilizers was down 13% YoY to 997 000 tons, and that of potash fertilizers was down 18% YoY to 691 000 tons. Pesticide technical output was down 11.4% YoY to 167 000 tons (herbicide output, down 21.6% YoY to 71 000 tons). Output of agricultural films was down 9.2% YoY to 79 000 tons.