China petroleum, chemical industries output soar 34% in April

02 June 2011 08:40  [Source: ICIS news]

SHANGHAI (ICIS)--The output value from China’s petroleum and chemical industries surged 34% year on year to yuan (CNY) 921.2bn ($142.2bn) in April, China Petroleum and Chemical Industry Federation (CPCIF) said in a report on Thursday.

In the first four months of 2011, the output value of the petroleum and chemical industries amounted to CNY3,340bn, up 33.9% from the same period because of strong domestic demand, according to CPCIF.

Over 90% of the 78 petrochemical products that CPCIF monitors showed a year-on-year output growth in April, the federation said.

Crude oil output edged up 4.4% year on year to 17m tonnes, ethylene production grew 28.1% year on year to 1.3m tonnes and methanol output increased 28.4% to 1.8m tonnes in April, according to CPCIF.

Imports by the petroleum and chemical industries jumped 30.7% year on year to $37.5bn (€26.3bn) in April, while exports soared 37% year on year to $14.2bn, according to the CPCIF report.

The fixed asset investment of the petroleum and chemical industries rose by 24.9% year on year to CNY109.8bn in April, CPCIF said.

($1 = CNY6.48, $1 = €0.70)

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By: Judith Wang
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