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This year, Xinjiang's crude oil, natural gas, and major chemical products have grown significantly. Of the 50 petrochemical products included in the statistics, output growth accounted for about 70%, of which crude oil, natural gas, and crude oil processing products have grown faster than the national average. Ethylene and other petrochemical products began recovering growth since July, and urea reversed the slight decline last year. Products such as caustic soda and polyvinyl chloride continued to grow, with a year-on-year growth of around 20%. At the same time, most of the petrochemical products market is in strong demand. The refined oil is sold in large quantities in southern China. The production and sales rates of calcium carbide, PVC, and soda ash are all above 99%. The increase in the price of petroleum and other products drove the profits of the industry to rise sharply. Among them, the profit growth of the oil and gas exploitation industry was the largest, which was a year-on-year increase of 109%.
The construction of major petrochemical projects is in full swing. The construction of the 10 million-ton oil refining and one-million-ton ethylene project in Dushanzi, Xinjiang was started in August; the construction of China’s first cross-border oil pipeline, the China-Kazakhstan oil pipeline, has entered the final phase of its toughest phase and will be completed by December 16th; by Liaoning Huajin The chemical group invested 1.1 billion yuan to build the first large-scale fertilizer project with an annual output of 300,000 tons of synthetic ammonia and 520,000 tons of urea, which will be built by Kuche. The second large-scale fertilizer project is also under active preparation; Xinjiang United Chemical Industry Co., Ltd. The largest domestic polyoxymethylene project with an investment of 1.3 billion yuan has already started; the 1 million-ton/year ethylene project with a total investment of 12 billion yuan by Shanghai Jintian Enterprise Development Corporation is carrying out preliminary work.
Xinjiang's Petrochemical Major Project Construction Brings Robust Growth to the Whole Industry
Driven by the construction of a number of major projects, in the first three quarters of this year, Xinjiang's petrochemical industry realized sales revenue of 76.91 billion yuan, a year-on-year increase of 55%, and a profit of 25.47 billion yuan, a year-on-year increase of 95%. Strong, accelerating growth.