Ling Chengxing inspects online drug bidding and procurement
According to data released by the National Development and Reform Commission, in the first three quarters of 2008, China's crude oil processing volume reached 257.95 million tons, representing a 5.5% year-on-year increase, though this growth rate was 1.5 percentage points lower than the previous year. Natural gas production for the same period stood at 56.5 billion cubic meters, up 13% from the prior year, but the growth slowed by 6.8 percentage points.
On October 30, the National Development and Reform Commission released its latest report on the performance of key industries during the first three quarters of 2008. Despite stable domestic crude oil output, which remained at 141.9 million tons—up 2% compared to the same period last year—the country continued to rely heavily on imported crude oil, with imports reaching 135 million tons (based on customs data), an increase of 8.8%.
Crude oil refining activity rose by 5.5%, with gasoline and diesel production increasing by 4.6% and 9.9%, respectively. Meanwhile, natural gas output grew by 13%, though this was a slower pace than previous years. Among major chemical products, ethylene output increased by 1.1%, while caustic soda and soda ash production rose by 8.7% and 13.3%, respectively. Chemical fertilizer and pesticide output also saw growth, with increases of 4.8% and 16.6%, respectively.
Internationally, crude oil prices experienced significant volatility throughout the year. Prices surged rapidly in March, with West Texas Intermediate (WTI) crude reaching a peak of $147.27 per barrel. However, as demand weakened, oil prices began to decline in July. By September, the average price of Brent crude fell to $103.5 per barrel, down $13.8 from the previous month—a drop of 11.8%. This marked a sharp contrast to the earlier surge, which had seen prices rise by $28 per barrel, or 37.1%, in the preceding months.
In the first eight months of the year, the petrochemical industry reported a profit of RMB 363.5 billion, reflecting a 3.3% year-on-year increase. However, the refining sector faced challenges, as it shifted from a net profit of RMB 23.7 billion in the same period of 2007 to a net loss of RMB 12.02 billion. In contrast, the chemical industry performed better, achieving a profit of RMB 134.3 billion, a 31.1% increase from the previous year.
Screw Barrel Plastic Products,Double Screw Barrel,Conical Twin Screw Barrel ,Pvc Screw Barrel
Zhoushan Taisu Overseas Co Ltd. , https://www.taisuoverseas.com