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Oil And Chemical Industry Performance In 2018
- Feb 15, 2019 -
  • Main income was 12.4 trillion yuan, an increase of 13.6%

  • Total profit was 839.38 billion yuan, up 32.1%

  • The total import and export volume was 754.34 billion US dollars, an increase of 29.3%

In 2018, the main business income of the petroleum and chemical industry was 12.4 trillion yuan, a year-on-year increase of 13.6%;The total profit was 839.38 billion yuan, a year-on-year increase of 32.1%;The total import and export volume was 754.34 billion US dollars, an increase of 29.3%.This is the news that the China Chemical News reporter received from the press conference on the economic operation of China's oil and chemical industry.

According to the report on the economic operation of the industry issued by the China Petroleum and Chemical Industry Federation, in 2018, there were 27,813 enterprises above designated size in the petrochemical industry, and the main profit margin was 6.77%.Among them, the profit of the oil and natural gas mining industry increased by 587.2%, the profit of the petroleum processing industry decreased by 3.4%, and the profit of the chemical industry increased by 16.3%.In general, the economic operation of the industry in 2018 showed the main characteristics of maintaining rapid growth in efficiency, optimizing and upgrading the economic structure, better-than-expected exports, and accelerated growth in energy consumption.

Fu Xiangsheng, vice president of the Petrochemical Federation, pointed out that behind the economic operation data, it reflects the positive changes in the high-quality development of the industry.In 2018, the structural contradictions in the industry gradually eased, the backward production capacity accelerated, and the industrial structure was continuously optimized. The scale of equipment, concentration and capacity utilization were gradually improved.New and old kinetic energy continued to be transformed, a large number of outstanding scientific and technological achievements were commended, and the innovation ability of important technologies and major equipment continued to increase;Green development has become better and better, and a number of standard systems have been formulated. A number of typical demonstrations such as green factories and green parks have been cultivated, and a three-year action plan for energy efficiency front runners and responsible care has been launched.The international cooperation has been continuously expanded. It has carried out in-depth cooperation with international organizations such as ICCA, and signed bilateral strategic cooperation agreements with 20 countries including Saudi Arabia and the United Arab Emirates. The international cooperation along the “Belt and Road” has also deepened;The park management is more standardized, highlighting a number of leading parks, focusing on smart parks and green park pilots and new industrialization demonstration bases, and circular development demonstrations;The status of key enterprises is more prominent. The main businesses of the six major groups such as PetroChina and Sinopec account for about 60% of the total industry and 40% of total profits.There are also a number of innovative companies such as Wanhua Chemical, which are increasingly competitive and have a leading role in the industry.

Fu Xiangsheng analyzed that last year, the economic operation of the whole industry was stable, and there were changes in the economy. The specific performance is that the main income and total profit have doubled, achieving a steady progress;However, the absolute value of the main income and the number of enterprises above designated size decreased, and the main income profit rate, investment and total import and export volume increased,The profit of the oil and gas sector has increased greatly and the income of the chemical sector has been greatly reduced.Both of them reflect the stability and change, especially the main income of the chemical sector is 7.27 trillion yuan, a sharp decrease of 1.8 trillion yuan over the previous year. This is unprecedented in history.In addition, the downward pressure on the industry continued to increase, and the annual growth was less than that of the previous year. The increasing production capacity of refining and chemical production made the market competition more intense. The price fluctuation of chemical products was large, and the growth rate of profit declined significantly, and the worries were even worse.

Zhu Fang, director of the Information and Marketing Department of the Petrochemical Federation, said that in 2018, the whole industry “outperformed the market” and many economic indicators exceeded the national industrial average.There are many important changes in the data, such as the industry's main income profit rate of 6.77%, the highest level since 2012, including the chemical industry's main income profit rate of 6.89%, refreshing the historical level;The total import and export volume of the industry was 754.34 billion US dollars, a year-on-year increase of 29.3%, and the trade deficit reached 283.26 billion US dollars, an increase of 43.8%;Chemical raw materials and chemical manufacturing investment resumed growth, with a growth rate of 6%. In the chemical industry segment, fertilizer and coal chemical profitability increased significantly, reaching 70.1% and 161.2% respectively.