Hubei Petrochemical Industry Benefits Innovation High in November Before Last Year

On the 2nd, the reporter learned from the Hubei Provincial Economic Commission that in the first 11 months of 2007, while the petrochemical industry in Hubei province was accelerating its production, the overall level of economic efficiency continued to increase. The oil processing industry turned around to win, and the chemical industry grew economically. Renewed high.
According to statistics from the province, in the first 11 months of 2007, the province’s oil processing industry realized a total of 36.55 billion yuan in main business revenue, a year-on-year increase of 9%; a profit of RMB 20.0 billion, reversing the loss of 2.21 billion yuan in the same period of last year; Since the third quarter, the petroleum processing industry has guaranteed the supply of refined oil products in the market, and the volume of processed crude oil has steadily increased. At present, the tight supply of refined oil products has eased. The prices of major chemical products in the chemical industry in the province rose slightly, fine chemical industry developed rapidly, and profits maintained rapid growth. The province's chemical industry realized main business income of 60.22 billion yuan, an increase of 33.4%; profit of 2.84 billion yuan, an increase of 76.4%, an increase of 12.2 percentage points higher than the provincial average, an increase of 32 percentage points over the previous year. The 60 key enterprises monitored by the province achieved a 26.3% year-on-year increase in main business revenue, a year-on-year increase of 67.7% in profits, and a 32.4% year-on-year tax increase. Among them, Jingmen Petrochemical, Wuhan Petrochemical and other two companies' main business income exceeded 10 billion yuan; Yihua Group achieved a profit of 640 million yuan, a year-on-year increase of 38.7%.
The provincial Economic Commission also revealed that the prominent problem in the economic operation of the petrochemical industry in the province was increased production costs. In the first 11 months of 2007, the province’s original fuel and power prices rose by 4.31%, which was higher than the 0.61% increase in ex-factory prices of industrial products. In particular, since the third quarter of last year, international crude oil prices have continued to rise and hit record highs. The average prices in September, October and November increased by 10.3, 20.5, and 32.5 U.S. dollars per barrel respectively. The profits of the crude oil processing industry in the province rose from 9.8 in May to May. Billion yuan was reduced to RMB 360 million from January to August and RMB 0.02 billion from January to November. The National Development and Reform Commission raised the export price of refined oil on November 1st last year, but the international crude oil price is still higher than the ex-factory price of refined oil in the province, and the inverted oil product price phenomenon has not been eliminated. The provincial Economic Commission requested that in the next stage, the province's petrochemical enterprises should continue to stick to economic efficiency as the center, and strive to resolve various factors of increasing and reducing profits; continue to maintain the steady and rapid development of the industrial economy, cultivate new growth points; accelerate the adjustment of products Structure, good marketable product production.

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