Investment Dynamics
Jilin Petrochemical’s 2017 Refining Profits Exceeded RMB 5 billion
Date:2018/01/22 10:49:00 Author: Source:

Carry out the new development concept and promote the overall improvement of the development quality of enterprises. In 2017, Jilin Petrochemical created the most brilliant achievements of the enterprise in nearly 70 years. The annual refining business profits reached RMB 5.08 billion, surging 118% over the same period of the previous year.

 

Give full play to the refining and chemical integration advantage and deepen the structural reform on the supply side. In 2017, Jilin Petrochemical's crude oil processing volume and total merchandise output decreased by more than 100,000 tons year on year, but its main business revenue increased by 19% over the same period of last year. In particular, the double-digit profit growth of refining and chemical business was even more alarming. The annual taxes reached RMB 13.68 billion, growing RMB 760 million year on year.

 

Under the circumstance of overcapacity in gasoline and diesel oil and fierce market competition in the domestic market, Jilin Petrochemical has vigorously compressed general products with low economic benefits and increased high-tech and high value-added products as annual output of gasoline and diesel oil decreased by 250,000 tons year on year and self-produced ethylene materials output grew 130,000 tons year on year. In the meantime, actively adjusted the output and product mix of gasoline and diesel oil, increased the production of high value-added oil such as No. 98 gasoline, aviation kerosene and low-pour point diesel oil and the annual "diesel-steam ratio" reached 1.6, down 0.3 points year on year and increasing efficiency of RMB 145 million.

 

Not only that, Jilin Petrochemical played its own advantages and made full efforts to organize the production of ABS, polyethylene, acrylonitrile, methyl methacrylate, styrene-butadiene rubber and other heavy-profit products and increased output and sales of 80,000 tons and efficiency of more than RMB 640 million year on year. As the terminal chemical product mainly built by Jilin Petrochemical in recent years, annual output of ABS reached 621,000 tons, growing 11,000 tons year on year, the highest level in history, and the supply continues to be not adequate to the demand.

 

 

 

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