In the hottest month, the profits of China's petro

September 14, 2006

Xinhua news agency information, Beijing, September 13 (dongyajun, Wang Lamei) in July, affected by the continuous rise of international oil prices, the profits of China's petroleum and chemical industries increased or decreased unevenly

although the oil refining industry still suffered serious losses, the profits of the petroleum and chemical industry maintained a good growth in July due to the huge profits from oil and gas exploitation. Statistics show that the profit of the whole industry in that month was 38.43 billion yuan, an increase of 16.2% year-on-year. Among them, the dominant position of the oil and gas exploration industry is unshakable, with a profit of 34.44 billion yuan, an increase of 25.5% year-on-year, accounting for 89.6% of the whole industry. The profitability is much higher than that of the oil refining and chemical industry

due to the repeated rise of international oil prices and repeated breakthroughs in new highs, while the price of domestic refined oil has always been unable to keep up with the pace of crude oil, the loss of refined petroleum products manufacturing industry is still irreversible, with a loss of 5.54 billion yuan in the month, an increase of 127.5% year-on-year. Due to the rapid increase in costs, the price rise was small, and even a large-scale decline occurred in some sub industries. In July, the chemical industry achieved a profit of 9.23 billion yuan, an increase of 16.8% year-on-year. Both the absolute value and growth rate were significantly lower than that in June, with a decrease of 2.71 billion yuan and 39.3 percentage points respectively

since July and August have entered the off-season of chemical fertilizer application, the profit of the chemical fertilizer manufacturing industry has declined year-on-year, and the decline is large. In July, the profit of the national chemical fertilizer industry reached 1.3 billion yuan, a year-on-year decrease of 17.4% (a year-on-year increase of 23.5% in June). Similar to the chemical fertilizer industry, the profit level of the rubber products industry also declined in July, with a profit of 880 million yuan that month, a year-on-year decrease of 10.4%. In July, the profitability of chemical mining and beneficiation industry, basic chemical raw material manufacturing industry, chemical pesticide manufacturing industry, coating, ink, pigment industry and other industries that can accurately extend the service life of the experimental machine and similar product manufacturing industry increased significantly, and the profits in that month were 150million yuan, 1.84 billion yuan, 380million yuan and 1.05 billion yuan, with year-on-year growth of 61.7%, 57.4% and 46.3% respectively ５８．２％。

in July, the loss of loss making enterprises in the petroleum and chemical industry continued to maintain a high-speed growth. In that month, the loss of loss making enterprises in the whole industry was 7.64 billion yuan, an increase of 99.7% year-on-year. And all production enterprises took measures to reduce production capacity and stabilize prices, an increase of 20.8 percentage points over June

from January to July, the total profit of the whole industry was 258.33 billion yuan, with a year-on-year increase of 26.2%, of which the profit of the oil and gas exploitation industry was 232.56 billion yuan, with a year-on-year increase of 44.9%; The chemical industry was 58.37 billion yuan, an increase of 17.4% year-on-year; The refined petroleum products manufacturing industry lost 33.94 billion yuan, an increase of 442.2% year-on-year. During the same period, the profits of the synthetic material manufacturing industry continued to decline, but the range was gradually shrinking, with a cumulative profit of 7.22 billion yuan, a year-on-year decrease of 6.5% (a decrease of 9.8% in June), which was still dragged down by China's synthetic fiber manufacturing industry, whose market volume constituted by the transformation of existing building doors and windows would exceed trillion yuan (the profits of the industry fell by 65.2%)