Workers operate at a construction site of the Shaanxi section of the third West-to-East natural gas pipeline in Liquan county, Xianyang city of northwest China's Shaanxi province, Feb 16, 2023. (PHOTO / XINHUA)
BEIJING – China's petrochemical industry saw an increase in revenues and a decline in profits in 2022, according to the China Petroleum and Chemical Industry Federation (CPCIF).
According to the CPCIF, China's crude oil output stood at 205 million tonnes in 2022, a year-on-year increase of 2.9 percent, in a fourth consecutive year of growth
The country's petrochemical industry registered a total revenue of 16.56 trillion yuan (about $2.41 trillion) in 2022, climbing 14.4 percent year-on-year, while its total profit eased 2.8 percent to 1.13 trillion yuan.
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In 2022, the import and export volume of petrochemical products rose 21.7 percent year-on-year to 1.05 trillion dollars.
According to the CPCIF, China's crude oil output stood at 205 million tonnes in 2022, a year-on-year increase of 2.9 percent, in a fourth consecutive year of growth.
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In the period, the country's natural gas output was 217.79 billion cubic meters, a year-on-year increase of 6.4 percent.