PetroChina's refining and chemical industry profit fell 81.7%

The reporter pointed out that in the first three quarters of 2019, PetroChina's refining and chemical sector realized an operating profit of 7.133 billion yuan, down 81.7% from 38.906 billion yuan in the same period of last year. The reasons given by CNPC are: excess capacity of domestic refining and chemical industry, narrowing of gross profit space and falling of chemical product price. The performance of PetroChina's refining and chemical business fell sharply. On October 31, the reporter of Beijing news pointed out that in the first three quarters of 2019, the operating profit of refining and chemical sector was 7.133 billion yuan, down 81.7% from 38.906 billion yuan in the same period of last year. Among them, the operating profit of refining business was 3.41billion yuan, down 88.7% from 30.051 billion yuan in the same period of last year; the operating profit of chemical business was 3.723 billion yuan, down 58.0% from 8.855 billion yuan in the same period of last year. According to PetroChina, refining and chemical businesses should actively respond to market changes, promote structural adjustment, transformation and upgrading, continue to optimize resource allocation and product structure, and increase marketable and efficient products; chemical plants should maintain high-load production, and under the condition of routine inspection and maintenance of some petrochemical plants, chemical product output increased 786000 tons year on year; strengthen benchmarking analysis and strengthen cost and expense Control. In the first three quarters of 2019, PetroChina processed 905.9 million barrels of crude oil, an increase of 4.3% over the same period of last year, and produced 86.583 million tons of gasoline, diesel and kerosene, an increase of 6.2% over the same period of last year. In an article on today's official website, PetroChina said that the company actively responded to the severe situation of the current domestic refining and refined oil overcapacity, narrowing of gross profit space, falling price of chemical products and low price arrival rate of refined oil, insisted on market-oriented, promoted the restructuring, transformation and upgrading of refining business, increased the production of marketable and efficient products, and gave full play to chemical devices Ability and efficiency.