According to the latest data bulletin released by the China Petroleum and Chemical Industry Association, the country's oil and chemical sector experienced a mixed performance in the first quarter of this year. While production growth remained strong, sales were stable, and trade activities were active, price fluctuations were noticeable. Additionally, economic performance varied significantly across different segments. However, rising costs—especially in raw materials and energy—have not been fully passed on to downstream industries, leading to reduced efficiency in some sectors.
In the first quarter, 58 out of 65 tracked petroleum and chemical product categories saw increased output, representing 89.2% of the total growth compared to the same period last year. Among these, 41 categories recorded growth of over 10%, with natural gas, fertilizers, pesticides, and basic chemical materials seeing particularly strong expansion. On the other hand, certain products such as synthetic fiber, kerosene, fuel oil, and photographic film experienced declines in production when compared to the previous year.
From January to February, the national oil and chemical industry achieved a product sales rate of 97.33%. The crude oil and natural gas extraction industry had a sales rate of 101.27%, while the refined petroleum manufacturing sector reported a 97.89% production and marketing rate—a slight decrease of 0.35 percentage points from the previous year. Meanwhile, the chemical industry’s production and marketing rate stood at 95.6%, down 0.6 percentage points year-on-year.
Market price trends indicate that rapid capacity expansion has outpaced demand growth, putting significant downward pressure on prices. At the same time, rising input costs have provided some support to the market. As a result, the overall petrochemical market is characterized by mixed performance, frequent price swings, and a general trend of decline.
In the first two months of the year, the industry generated a total industrial value of 571.56 billion yuan, up 31.5% year-on-year. Industrial added value reached 150.33 billion yuan, an increase of 25.5%, and product sales revenue totaled 550.72 billion yuan, also up 31.5%. Total profit after deductions amounted to 66.7 billion yuan, reflecting a 34.2% year-on-year increase. Despite these impressive gains, the majority of the profit growth was driven by the oil and gas extraction segment, highlighting the uneven distribution of benefits across the industry.
Expand Metal Mesh,Expanded Metal Mesh,Expanded Metal Mesh Panels,Expanded Metal Mesh Sheet
ANPING COUNTY JINNUO HARDWARE &WIRE MESH PRODUCTCO.,LTD , https://www.jnwiremesh.com