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A report of China Petroleum and Chemical Industry Association (CPCIA) showedthat the situation for the petrochemical industry was still hard in April, although thedrop slowed. Prices of some petrochemicals moved up compared to March, domesticdemand for some major chemicals were expanding and investment in chemical industry increased steadily. Exports were still difficult. Many uncertainties left for thepetrochemical industry’s prospect.In April, 33 589 designated companies (all state-owned enterprises and non-state-ownedenterprises with annual sales of over RMB5 million) in the petroleum andchemical industry reported a combined production value (output multiplied by currentprice) of RMB502.94 billion, a drop of 8.4% year over year, compared with RMB498.35 billion in March. In which the production value in the chemical sector increased by1.3% over the year-ago month, increasing 1.8% than that this March, the oil andnatural gas exploration sector declined 38.3% year on year but increased 3.4% thanMarch, the refining sector descended by 14.1% yearly and by 1.6% month on month.
A report of China Petroleum and Chemical Industry Association (CPCIA) showedthat the situation for the petrochemical industry was still hard in April, although the slow rate of the petrochemicals moved to March, domesticdemand for some major chemicals were expanding and investment in chemical Industry certain steadily. Exports were still difficult. Many uncertainties left for thepetrochemical industry’s prospect. April, 33 589 designated companies (all state-owned enterprises and non-state-ownedenterprises with annual sales of over RMB5 million) in the petroleum and chemical industry reported a combined production value (output multiplied by currentprice) of RMB 502.94 billion, a drop of 8.4% year over year, compared with RMB498.35 billion in March. In which the production value in the Chemical sector increased by1.3% over the year-ago month, increasing 1.8% than that this March, the oil and natural gas exploration sector declined 38.3% year on year but increased 3.4% thanMarch, the refining sector descended by 14.1% yearly and by 1.6% month on month.