From January to February, the petrochemical industry was generally stable

According to the latest data released by the China Petroleum and Chemical Industry Federation, from January to February, the economic operation of the petroleum and chemical industries was generally stable and the start was in line with expectations. The cumulative total output value was 1.92 trillion yuan, an increase of 10.6% year-on-year; the fixed asset investment was 108.86 billion yuan, an increase of 15.2% year-on-year; the total import and export volume was 101.94 billion US dollars, an increase of 0.6% year-on-year. However, the market demand remained flat, and the prices of some products continued to decline. In the first quarter, there was still downward pressure on the economic operation.

Data show that from January to February, the chemical industry grew relatively rapidly, and the chemical industry output value was 1.12 trillion yuan, a year-on-year increase of 13.6%. Among them, the manufacturing industry of chemical mining, pesticides and basic chemical raw materials maintained rapid growth. The output value of the oil refining industry was 549.89 billion yuan, an increase of 7%; the output value of the oil and natural gas industry was 207.95 billion yuan, an increase of 2.9%; the output value of the special equipment manufacturing industry was 50.82 billion yuan, a year-on-year increase of 20.0%. The growth rates of various industries have all slowed down to varying degrees compared to 2012.

From January to February, the country's crude oil and natural gas production was approximately 51.802 million tons of oil equivalent, a year-on-year increase of 4.2%, and a negative growth over the same period of last year. The total amount of major chemicals was approximately 74.468 million tons, a year-on-year increase of 4.0%, the lowest growth rate in recent years. The increase in investment declined. From January to February, the investment in fixed assets of the petroleum and chemical industries was 108.88 billion yuan, a year-on-year increase of 15.2%. The growth rate was 7.9 percentage points lower than the same period of 2012, which was lower than the average increase of national fixed asset investment by 6 percentage points. The transfer mode has had a certain influence on the industry investment.

At the same time, the data shows that the market demand has grown at a slow pace. From January to February, the apparent consumption of oil and natural gas was 107 million tons (oil equivalent), which was a year-on-year increase of 2.9%; the apparent total consumption of major chemicals was about 70.9 million tons, an increase of 2.5%. Both fell significantly from the same period of last year. But fortunately, the total volume of imports and exports increased slightly. From January to February, the total import and export volume of the entire industry was 101.94 billion U.S. dollars. Among them, the total import value was 75.84 billion U.S. dollars, a decrease of 0.3%; the total export value was 26.1 billion U.S. dollars, an increase of 3.4%, which was 2.6 percentage points higher than that in 2012; the cumulative deficit was 49.74 billion U.S. dollars, a year-on-year decrease of 2.2%.

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