Analysis on the economic operation of China's petr

2022-10-19
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The latest analysis report of China Petroleum and chemical industry association shows that the pace of economic recovery in the petroleum and chemical industry industry accelerated significantly in August, driven by the positive domestic macro-economy. The output of products increased in an all-round way, and the decline of output value further narrowed; But there is no doubt that the market demand for major bulk products continues to rise, and the price is stable; Investment in the chemical industry maintained rapid growth. However, problems such as low capacity utilization in some industries, continued downturn in the petrochemical market, blocked exports, and excessive investment growth in some industries with overcapacity still plagued the industry

the industry is getting better and better.

in August, the National Petroleum and chemical industry achieved a total output value (current price, the same below) of 579.38 billion yuan, a year-on-year decrease of 6.2%, a decrease of 2.4 percentage points from the previous month, and a month on month increase of 1.4%. Among them, the output value of the chemical industry was 341.68 billion yuan, a year-on-year increase of 7.4%, the highest growth rate this year; The output value of the oil and gas exploitation industry was 66.07 billion yuan, a year-on-year decrease of 37.4%; The output value of the oil refining industry was 158.44 billion yuan, a year-on-year decrease of 12.1%. Generally speaking, the industry economy as a whole is further developing in a positive direction, and it is expected that the pace of recovery in the late third quarter may be further accelerated

in August, the growth rate of investment in the whole industry continued to slow down, while the investment in the chemical industry remained strong, but the momentum was weakening. From January to August, the fixed asset investment in the National Petroleum and chemical industry was 594.877 billion yuan, a year-on-year increase of 12.3%, 1.2 percentage points slower than the year-on-year growth rate from January to July. In terms of industries, the investment in the chemical industry accounted for 66.2% of the total investment of the whole industry, with a year-on-year increase of 28.4%. The fields with rapid growth were chemical fertilizers, pesticides, paint pigments, special chemicals manufacturing and rubber products, with year-on-year growth of 31.6%, 30.1%, 38.9%, 45.1% and 31.5% respectively The service life can be longer by 2%; The investment in oil and gas exploitation industry and oil refining industry continued to decline, with a year-on-year decrease of 14.3% and 10.4% respectively, with a further expansion trend

the production and demand of petrochemical products rebounded

on the one hand, the output of major petrochemical products increased restoratively. In August, among the more than 60 kinds (categories) of petroleum and chemical products that the association focused on tracking, the year-on-year increase accounted for 88.7%, and the growth rate was the highest monthly level of this year. Products such as refined oil, agricultural chemicals, synthetic materials, tires, paint dyes and so on grew particularly fast. In that month, the national crude oil production increased by 1.6% year-on-year, and both production and growth rate hit a monthly high this year. In addition, the output of natural gas increased by 7.8% year-on-year, the processing volume of crude oil increased by 9% year-on-year, the loose volume of refined oil production (steam, coal, diesel, the same below) increased by 9.8% year-on-year, the output of ethylene increased by 11.6%, the output of chemical fertilizer increased by 9.3%, the output of pesticides increased by 14.8%, the output of tires increased by 22.1%, the output of synthetic resin increased year-on-year, but there is no sign of production increased by 14.9%, and the output of synthetic rubber increased by 15.5% year-on-year, The output of synthetic fiber monomers and polymers increased by 22.3% year-on-year, and that of coatings, pigments and dyes increased by 17.4%, 19.1% and 55.1% year-on-year respectively

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