The press conference on the economic development of China's oil and chemical industry was held in Beijing on February 16. At the meeting, the “2016 China Petroleum and Chemical Industry Economic Operation Report†was issued. The "Report" shows that last year the economic operation of China's petroleum and chemical industries progressed steadily and steadily, and the "13th Five-Year Plan" achieved a good start. From the perspective of the industry sentiment index in December of that year, the industry has begun to warm up, but there is still significant differentiation among sub-sectors. In 2017, the whole industry will show the development trend of stabilizing and stabilizing, and it is expected that the industrial added value of the industry will increase by 7.5% year-on-year.
The director of the Information and Marketing Department of the Petrochemical Federation Zhu Yip pointed out that the prosperity index released by the Federation showed that in December 2016, China's chemical industry prosperity index was 92.38, up 1.52 points from the previous month; the oil and gas industry's prosperity index was 94.08, The month has risen sharply by 7.59 points. Both of the two indices hit their highest levels in two years, indicating that the industry has begun to warm up, but the benefits of different industries have become more differentiated and should attract sufficient attention.
The "Report" shows that in 2016, the development of the entire industry showed three characteristics: steady, good, differentiation, and pressure.
In 2016, the industry-wide added value increased by 7% year-on-year, of which the added value of the chemical industry increased by 8%, and the value added of the petroleum processing industry increased by 7.3% year-on-year, but the added value of the oil and natural gas extraction industry decreased by 3.6%. In the chemical industry, the growth rate of the value-added of specialty chemicals, pesticides and synthetic materials are all above 10%, but the growth rate of chemical fertilizers, chemical mining, etc., is only 3.6% and 5.4%.
In the entire industry, the performance of the chemical industry is more dazzling. In addition to the growth rate of industrial added value, in 2016, the main income of the chemical industry achieved 9.21 trillion yuan, an increase of 5.3% year-on-year; the total profit was 507.32 billion yuan, an increase of 11.7%; and the total assets were 8.04 trillion yuan, an increase of 5.2%. prominent. In 2016, the profit margin of the main chemical industry was 5.51%, which was a year-on-year increase of 0.32 points.
In 2016, the efficiency of the domestic oil and gas extraction industry deteriorated. In 2016, the oil and gas exploitation industry experienced a net loss for the first time in history. The annual loss amounted to 54.36 billion yuan, and the loss situation continued to increase. The revenue also declined deeper, with a year-on-year decline of 17.3%, which fell for the second consecutive year. The direct cause of the deteriorating performance of the oil and gas extraction industry is the sharp drop in oil prices. The monitoring showed that although the international oil price rebounded in 2016, the average price level was still at a historically low level. The average annual price of Daqing crude oil (spot) in China was 36.97 US dollars/barrel, the lowest since 2004, a year-on-year decrease of 21%; The average price was 34.98 US dollars / barrel, a drop of 25.4%. Due to the serious deterioration of the profits of the oil and gas extraction industry, the recovery of the oil and chemical industry as a whole has appeared to be weak.
Fu Xiangsheng, vice president of the Petrochemical Federation, said in the forecast of the industry situation in 2017 that the start of 2017 was better than expected, but the complexity, instability, and uncertainty of the world economy further highlighted the task of eliminating capacity in the industry is still arduous. It will take time for the new and old kinetic energy conversions to increase. The operating costs of companies will increase and the investment environment will need to be improved. It is estimated that in 2017, the industrial added value of the industry will increase by 7.5% year-on-year, and the main business income will increase by 6%-8% to approximately 14 trillion yuan; the profit will increase by 7%-9% to approximately 690 billion yuan; import and export will reverse the negative growth trend. Among them, the added value of the chemical industry increased by about 8.5% year-on-year, and the main business revenue increased by about 8% to about 9.95 trillion yuan; the profit increased by about 10% to about 560 billion yuan.
The director of the Information and Marketing Department of the Petrochemical Federation Zhu Yip pointed out that the prosperity index released by the Federation showed that in December 2016, China's chemical industry prosperity index was 92.38, up 1.52 points from the previous month; the oil and gas industry's prosperity index was 94.08, The month has risen sharply by 7.59 points. Both of the two indices hit their highest levels in two years, indicating that the industry has begun to warm up, but the benefits of different industries have become more differentiated and should attract sufficient attention.
The "Report" shows that in 2016, the development of the entire industry showed three characteristics: steady, good, differentiation, and pressure.
In 2016, the industry-wide added value increased by 7% year-on-year, of which the added value of the chemical industry increased by 8%, and the value added of the petroleum processing industry increased by 7.3% year-on-year, but the added value of the oil and natural gas extraction industry decreased by 3.6%. In the chemical industry, the growth rate of the value-added of specialty chemicals, pesticides and synthetic materials are all above 10%, but the growth rate of chemical fertilizers, chemical mining, etc., is only 3.6% and 5.4%.
In the entire industry, the performance of the chemical industry is more dazzling. In addition to the growth rate of industrial added value, in 2016, the main income of the chemical industry achieved 9.21 trillion yuan, an increase of 5.3% year-on-year; the total profit was 507.32 billion yuan, an increase of 11.7%; and the total assets were 8.04 trillion yuan, an increase of 5.2%. prominent. In 2016, the profit margin of the main chemical industry was 5.51%, which was a year-on-year increase of 0.32 points.
In 2016, the efficiency of the domestic oil and gas extraction industry deteriorated. In 2016, the oil and gas exploitation industry experienced a net loss for the first time in history. The annual loss amounted to 54.36 billion yuan, and the loss situation continued to increase. The revenue also declined deeper, with a year-on-year decline of 17.3%, which fell for the second consecutive year. The direct cause of the deteriorating performance of the oil and gas extraction industry is the sharp drop in oil prices. The monitoring showed that although the international oil price rebounded in 2016, the average price level was still at a historically low level. The average annual price of Daqing crude oil (spot) in China was 36.97 US dollars/barrel, the lowest since 2004, a year-on-year decrease of 21%; The average price was 34.98 US dollars / barrel, a drop of 25.4%. Due to the serious deterioration of the profits of the oil and gas extraction industry, the recovery of the oil and chemical industry as a whole has appeared to be weak.
Fu Xiangsheng, vice president of the Petrochemical Federation, said in the forecast of the industry situation in 2017 that the start of 2017 was better than expected, but the complexity, instability, and uncertainty of the world economy further highlighted the task of eliminating capacity in the industry is still arduous. It will take time for the new and old kinetic energy conversions to increase. The operating costs of companies will increase and the investment environment will need to be improved. It is estimated that in 2017, the industrial added value of the industry will increase by 7.5% year-on-year, and the main business income will increase by 6%-8% to approximately 14 trillion yuan; the profit will increase by 7%-9% to approximately 690 billion yuan; import and export will reverse the negative growth trend. Among them, the added value of the chemical industry increased by about 8.5% year-on-year, and the main business revenue increased by about 8% to about 9.95 trillion yuan; the profit increased by about 10% to about 560 billion yuan.
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