The economic operation of the petroleum and chemical industry in 2022 exceeded expectations

On February 16, the China Petroleum and Chemical Industry Federation released the economic operation of China's petroleum and chemical industry in 2022. The report shows that in 2022, the overall operation of China's petroleum and chemical industry will be stable and orderly, with the operating income of the whole industry increasing by 14.4% over the previous year, and the total import and export volume increasing by 21.7% over the previous year, setting a new historical record in both operating income and total import and export volume.

Crude oil imports, crude oil processing and natural gas consumption decreased. In 2022, China's crude oil imports will be 508 million tons, a decrease of 1% over the previous year, and its dependence on foreign countries will drop to 71.2%; the import volume of natural gas was 152.07 billion cubic meters, a decrease of 10.4% over the previous year, and the dependence on foreign countries decreased to 40.2%; The crude oil processing volume was 676 million tons, a decrease of 3.4% over the previous year, and the apparent consumption of natural gas decreased by 1.3% over the previous year. This situation of simultaneous decline has appeared for the first time since the rapid development of China's petrochemical industry, which is related to the high price of crude oil and natural gas in the international market, the green and low-carbon transformation and development, the implementation of the "seven-year action plan for increasing reserves and production" by backbone energy enterprises, and the growth of China's crude oil and natural gas production. In addition, the operating income of the oil and gas segment increased by 32.9% and the profit increased by 114.7%.

The total output of refined oil products increased, while the total output of chemicals decreased slightly. In 2022, the operating income of the refining sector increased by 18.6% over the previous year, and the profit decreased by 87.6% over the previous year. The operating income of the chemical segment increased by 10.1% over the previous year, and the profit decreased by 8.1% over the previous year. In the case of a decrease in crude oil processing, the total output of refined oil products (gasoline, kerosene, diesel) was 366 million tons, an increase of 3.2% over the previous year, of which diesel increased by 17.9% over the previous year, gasoline decreased by 5.1% over the previous year, and kerosene decreased by 24.9% over the previous year. The capacity utilization rate of the chemical industry was 76.7%, down 1.4 percentage points from the previous year, and the total production of major chemicals was 0.4% lower than that of the previous year.

Sany Petroleum has always been committed to providing efficient and flexible integrated solutions for energy development and utilization, and creating value for customers. In the future, in the oil and gas industry, Sany Petroleum will show more comprehensive and professional engineering service capabilities, drive the coordinated development of the entire equipment manufacturing industry, and firmly hold China's energy energy jobs.