Petrochemical Economic Operation stabilized and recovered in April

wallpapers Industry 2020-12-09

China Petroleum and Chemical Industry Federation recently released the industry economic operation report in April. According to the report, petrochemical industry production remained stable in April and the economic operation further stabilized. The industrial added value and main business income both rose on a month on month basis, while the profit decline continued to narrow and the price rose on a month on month basis. However, the investment continued to be weak, the upstream efficiency continued to deteriorate, the oil refining industry's tax burden was too heavy, and the industry's economic downward pressure was still large. From January to April,

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witnessed an increase of 8.4% in the cumulative added value of the whole industry, 0.6 percentage points faster than that in the first quarter. Among them, the added value of the chemical industry increased by 9.3%, 0.3 percentage points faster than that in the first quarter; the oil and gas exploitation industry increased by 3%, which was the same as that in the first quarter; and the oil refining industry increased by 7.7%, an increase of 1.6 percentage points. The main business income of the whole industry decreased by 6.6% year on year, 0.7% lower than that in the first quarter. Among them, the main business income of chemical industry increased by 2.5% year-on-year; the owner business income of oil and gas exploitation decreased by 32%; and the business income of oil refining owner decreased by 18.4%. In the chemical industry, the growth rate of the main business income such as pesticide, coating (pigment) and chemical fertilizer manufacturing industry takes the lead. In terms of profits of

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, the decline continued to narrow. From January to April, the total profit of the whole industry reached 172.12 billion yuan, a year-on-year decrease of 34.6% and a decrease of 8.5 percentage points compared with the first quarter. The profit margin of main business income was 4.27%, a year-on-year decrease of 1.83 percentage points. From the perspective of

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industries, the total profit of oil and gas exploitation industry was 36.64 billion yuan, with a year-on-year decrease of 72.1%, which was the same as that in the first quarter; the total profit of oil refining industry was 4.6 billion yuan, turning loss into profit, with a decrease of 56.7%; the total profit of chemical industry was 123.83 billion yuan, an increase of 8.6%, 4.9 percentage points faster than that of the first quarter. An important reason for the growth of profits is that the industry price continues to rise.

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industry investment continued to slow down. From January to April, the investment in fixed assets of the whole industry reached 522.82 billion yuan, an increase of 4.1% over the same period of the same period of the previous year, setting a new record low, down 0.6% compared with the first quarter. Among them, the investment in oil and gas exploitation industry dropped sharply, and the chemical industry accelerated. In the chemical industry, the investment growth rate of coating materials, chemical fertilizer and specialized chemicals manufacturing was higher, while the pesticide and rubber products industry continued to decline.

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China Petroleum and Chemical Industry Federation predicted that the main business income of the whole industry in the second quarter was about 3.65 trillion yuan, with a year-on-year increase of 1%; among them, the main business income of chemical industry was about 2.38 trillion yuan, with an increase of about 6%.


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