China's petrochemical industry has accelerated its investment in the first two months

In the first two months of 2011, the oil and chemical industry started a good economic operation with rapid growth in output value, strong market demand, active import and export trade, and accelerated investment growth. Affected by the turmoil in North Africa and the Middle East, the recent rapid rise in international crude oil prices, resource prices rose sharply.

Rapid increase in output value As of the end of February, 26,255 enterprises above designated size in the industry achieved a total output value of 1.50 trillion yuan, an increase of 32.9% year-on-year, accounting for 13.7% of the country's total industrial output value. Among them, the output value of the three major industries of chemical industry, oil refining and oil and gas exploitation were 847.87 billion yuan, 441.03 billion yuan, and 176.32 billion yuan, respectively, an increase of 35.5%, 30.7%, and 25.7% year-on-year, accounting for 56.7% and 29.5% of the industry's output value respectively. And 11.8%.

In the chemical industry, the production of specialty chemicals and synthetic materials with high technological content and added value grew rapidly, reaching 46.5% and 38.9%, respectively, far above the industry average. The output values ​​were 207.99 billion yuan and 160.18 billion yuan respectively. .

From January to February, the three provinces and regions with the highest increase in output value of domestic petroleum and chemical industries were Guangxi, Hainan, and Jiangxi in turn, with growth rates of 153%, 133.8%, and 62.8%, respectively. The growth rate of Guangxi and Hainan was mainly driven by the oil refining industry, with growth rates of 470.5% and 173.6% for the oil refining industry, 57.7% and 85.9% of the total output value of the two industries respectively, and 115.6% for Jiangxi's specialty chemicals. The output value accounts for more than 50% of the total industrial output value of the province.

The strong growth of production of major products was strong in the first two months. Domestic oil and chemical products showed strong growth. Of the 78 (species) key products tracked by the China Petroleum and Chemical Industry Federation, 90% of the product output increased year-on-year. Potassium fertilizer, monoammonium phosphate, oil drilling equipment and other products increased by 98.6%, 63.2% and 52.3% respectively. Among them, fertilizer production maintained normal growth, but urea production declined; pesticide growth momentum was strong. In the first two months, the total output of chemical fertilizers in the country (refine, the same below) was 9.504 million tons, a year-on-year increase of 6%. Among them, urea production 4.184 million tons, a year-on-year decrease of 5.6%; phosphate fertilizer output 2.349 million tons, an increase of 23.4%; potash fertilizer production 292,000 tons, an increase of 98.6%. From January to February, the output of synthetic ammonia was 7.781 million tons, a year-on-year decrease of 1.5%. The output of pesticides (100% discount) was 390,000 tons, an increase of 19.3% over the same period of last year.

The price increase has continued to expand, and the convergence of production and sales has remained smooth. Since the rapid rise of energy and raw material prices this year, the prices of petroleum and chemical markets have continued to increase. According to the data from the National Bureau of Statistics, the cumulative price index of the oil and chemical industries in the first two months was 109.1 points (the same period in the previous year was 100 dollars, the same below). Among them, the oil and natural gas exploration price index was 114.5 points; the petroleum processing price index was 114.1 points; the chemical industry price index was 108.1 points. On the whole, the price increase is higher in the upper reaches than in the downstream, and oil is greater than chemical industry. From January to February, the sales rate of petroleum and chemical industry products was 97.82%, an increase of 1.1 percentage points year-on-year. Among them, the oil and natural gas production and sales rate was 100.2%, an increase of 0.3 percentage points year-on-year; the refinery production and sales rate was 98.1%, an increase of 0.8 percentage points year-on-year; the chemical industry production and sales rate was 97.3%, an increase of 1.5 percentage points year-on-year. The connection between production and sales in the industry remained smooth.

Imports and exports both increased by 1 to 2 months, and the total import and export volume of the industry was 84.207 billion US dollars, an increase of 31.4% year-on-year. Among them, total imports reached US$62.058 billion, an increase of 34% year-on-year; total exports were US$21.149 billion, up 24.5% year-on-year. In the first two months, the trade deficit was 39.909 billion U.S. dollars, a year-on-year increase of 39.9%.

During the first two months of strong demand for bulk products, the domestic consumer demand for energy and some of the major chemical products grew strongly. The apparent consumption of crude oil was 75.11 million tons, a year-on-year increase of 11.7%; the apparent consumption of natural gas was 21.82 billion cubic meters, an increase of 6.5 percentage points over the same period of last year. In the first two months, the apparent consumption of refined oil products was 42.963 million tons, a year-on-year increase of 14.1%, of which the apparent consumption of diesel oil was 27.568 million tons, a year-on-year increase of 16.1%; the apparent consumption of ethylene was 2.774 million tons, an increase of 35.1% year-on-year; The apparent consumption of fertilizer was 9.44 million tons, a year-on-year increase of 6%. In addition, the apparent consumption of sulfuric acid in the first two months increased by 11.1% year-on-year, that of caustic soda rose by 15.9%, and that of methanol by 31.8%; synthetic resin increased by 10%, synthetic fiber monomer increased by 8.8%, and tire tyres increased by 20.7% year-on-year .

The growth rate of investment accelerated, and the number of newly started projects dropped drastically from January to February. The growth rate of investment in fixed assets in the petroleum and chemical industries accelerated significantly. The accumulated investment was 75.259 billion yuan, a year-on-year increase of 18.9%, and the growth rate was 11.8 percentage points higher than the same period of last year. Among them, the chemical industry investment was 54.847 billion yuan, up 20.8% year-on-year, accounting for 72.9% of the total investment in the industry, with a year-on-year increase of 4.2 percentage points; oil and natural gas exploration industry investment 10.615 billion yuan, up 12% year-on-year, accounting for the proportion of investment in the entire industry It was 14.1%; the investment in the oil refining industry was 7.54 billion yuan, a year-on-year increase of 20.1%, accounting for 10% of the investment in the industry; investment in the special equipment manufacturing industry was low, with a year-on-year increase of 5.9%.

New projects have dropped significantly. From January to February, 672 new projects were started in the petroleum and chemical industries, a year-on-year decrease of 21.4%. Among them, the chemical industry decreased by 20.1%, the oil and gas extraction industry decreased by 35.3%, the refining industry decreased by 40.6%, and the special equipment manufacturing decreased by 24.5%. The decrease in new projects started and the increase in the amount of investment indicates that the projects tend to be larger. In the first two months, there were 3763 projects under construction in the petroleum and chemical industries, a decrease of 21.8% year-on-year.

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