Increase in output of major petroleum and chemical products

August Oil and Chemical Economic Operation Report

In August, the oil and chemical industries operated steadily and the growth rate slowed down. The market supply and demand are basically stable, and the overall price level continues to climb; the growth rate of import and export trade has been accelerating and investment has maintained steady growth; the overall industry benefit has continued to improve. However, the cost of economic operations continues to rise; oil refining continues to suffer losses; investment in oil and gas exploration is underpowered; and the uncertainty and instability of the external economic environment increase.

Slower economic growth

In August, the economic growth of the petroleum and chemical industries slowed down from last month. As of the end of August, there were 26,667 large-scale enterprises in the industry (enterprises with a main income of over 20 million yuan). The total output value of the month was 949.36 billion yuan (current price), an increase of 34.0% year-on-year, and the increase rate decreased by 3.2 percentage points from the previous month; 1 to 8 In July, the cumulative output value was 7.23 trillion yuan, an increase of 35.0% over the same period of last year. The increase was unchanged from January to July, accounting for 13.4% of the country's total industrial output value.

Increase in output of major products

In August, the output of major petroleum and chemical products continued to grow at a relatively fast rate overall, but the growth rate of most products declined from the previous month. The growth of inorganic chemical raw materials, oil drilling equipment, chemical fertilizers, and chemical reagents remained strong. Fertilizer production continued to grow rapidly, and the increase in pesticides continued to decline. Among other key products, ethylene production was 1.183 million tons, a year-on-year increase of 1.5%, which represented the lowest increase during the year; methanol production was 1.631 million tons, an increase of 23.7%; ** output was 6,004,000 tons, an increase of 7.2%; caustic soda production was 2,085,000 tons, an increase of 19.8. %; Soda Ash production was 2.037 million tons, an increase of 27.2%; Chemical reagents were 789,000 tons, an increase of 28.9%; Synthetic resins were 3.886 million tons, an increase of 5.5%, of which PVC increased by 12.5%; tire tire production 72.19 million, an increase of 12.3% Among them, the production of radial tires was 34.425 million, an increase of 7.6%.

Import and export trade increased significantly

In August, the growth rate of the industry’s import and export trade was significantly accelerated. The total import and export volume for the month reached 54.155 billion U.S. dollars, a record high, an increase of 41.3% year-on-year, an increase of 5.5 percentage points from the previous month and an increase of 5.4% from the previous month. Among them, the total value of imports was 38.11 billion U.S. dollars, an increase of 44.4% year-on-year, an increase of 5.7 percentage points from the previous month and an increase of 9.2% from the previous month; the total export value was 16.045 billion U.S. dollars, an increase of 34.3% year-on-year, an increase of 4.3 percentage points from the previous month and a decrease of 2.7 percentage points from the previous month. %. The trade deficit was US$22.654 billion, a year-on-year increase of 52.8%. From January to August, the total import and export trade volume of the industry was 397.452 billion U.S. dollars, a year-on-year increase of 34.2%. Among them, imports of 283.615 billion US dollars, an increase of 35.0%; exports 113.836 billion US dollars, an increase of 32.2%. The cumulative deficit was 169.779 billion U.S. dollars, a year-on-year increase of 37.0%.

Steady increase in investment growth rate

From January to August, the investment in fixed assets of the petroleum and chemical industries was 822.271 billion yuan, a year-on-year increase of 18.9%, which was the same as the increase from January to July. Among them, the investment in oil and gas exploration was 126.704 billion yuan, a year-on-year decrease of 3.0%, which fell for the fourth consecutive month, accounting for 15.41% of the total investment in the industry; the investment in the chemical industry was 579.679 billion yuan, an increase of 25.1%, an increase of 1.1 percentage points over January to July. Percentage points, accounting for 70.5%; Refining investment 85.491 billion yuan, up 16.6%, compared with 1.7% in July down 1.4 percentage points, accounting for 10.4%; special equipment manufacturing investment 30.396 billion yuan, up 24.8%, down from January to July Nearly 11%, accounting for 3.70%.

Market demand is generally strong

In August, oil demand continued to slow, demand for chemical fertilizers continued to increase, demand for basic chemical materials was strong, and demand for synthetic materials rebounded. The apparent consumption of crude oil was 302 million tons, an increase of 4.5%, which was 0.7 percentage points lower than that of January to July. The import dependency was 54.6%, an increase of 0.6% year-on-year; the apparent consumption of natural gas was 84.92 billion cubic meters, an increase of 20.0%. Compared with January to May, it dropped by 0.7 percentage point; the apparent consumption of refined oil was 173 million tons, an increase of 9.4% from the same period of last year, which was the same as that from January to July. Affected by the increase in inventory, the fertilizer market demand growth is strong. The apparent consumption of chemical fertilizers in the current month (improvement, the same below) increased by as much as 26.2%, of which urea reached 33.2%. From January to August, apparent consumption of chemical fertilizers nationwide was 39.994 million tons, an increase of 11.4% year-on-year, an increase of 1.6 percentage points from January to July, the largest cumulative increase in the year. August 1, ethylene apparent consumption of 10,988,000 tons, an increase of 15.1%; methanol apparent consumption 16,938,000 tons, 22.0% growth; ** apparent consumption of 48.44 million tons, 13.3%; Table caustic soda Views consumption of 15.068 million tons, an increase of 15.3%; apparent consumption of synthetic resin 47.739 million tons, an increase of 3.7%, the cumulative increase over the previous month increased by 0.8 percentage points, showing a steady low-speed growth; synthetic fiber monomer consumption 21.174 million tons, an increase of 2.3%, the market continued to slump; the apparent consumption of synthetic rubber 3.09 million tons, an increase of 5.4%, the cumulative increase over the previous month increased by 1.7 percentage points. In addition, the apparent consumption of tires was 280 million, an increase of 6.6%, which was the largest increase in the year, and market demand continued to rise.

Industry profits continue to grow faster

In July, the profits and main income of the petroleum and chemical industries continued to grow rapidly, but the refining sector remained in loss. From January to July, the total profit of enterprises above designated size in the industry was 486.363 billion yuan, an increase of 30.9% year-on-year, a decrease of 1.1 percentage points from January to June, accounting for 17.38% of the total profits of industrial enterprises above designated size in the same period.