On the night of August 11, China’s private refining and chemical company Rongsheng Petrochemical released its first-half financial report, which showed that during the reporting period, the company achieved revenue of 50.282 billion yuan, a year-on-year increase of 27.32%; Net profit was 3.208 billion yuan, a year-on-year increase of 206.55%.
The company stated that due to the smooth progress of the production of each device after the first phase of the “40 million tons/year refining and chemical integration project” of its holding subsidiary Zhejiang Petrochemical was put into operation, construction started The load has steadily increased and profitability has gradually emerged. Therefore, both revenue and net profit increased significantly in the first half of the year.
At present, the second phase of the project has entered the on-site implementation stage, the long-term equipment procurement has been completed, the bulk material procurement framework agreement has been basically completed, and equipment and materials have begun to be shipped one after another. After the arrival of the goods, construction and installation have entered the peak period, and trial operation is planned to begin in the fourth quarter of 2020.
It is worth mentioning that this is the first time that Zhejiang Petrochemical, China’s largest private integrated refining and chemical enterprise, has disclosed its results to the public. According to the report, in the first half of this year One company’s first-phase project contributed about 4.5 billion yuan in profits and more than 27.54 billion yuan in revenue.
It is reported that Zhejiang Petrochemical’s total investment is 173.1 billion yuan, and the first-phase investment scale has reached 90.2 billion. In March this year, it was decided to add an additional 82.9 billion yuan for Construction of the second phase of the project. After completion, the main production scale will be oil refining of 40 million tons/year, aromatics production capacity of 10.4 million tons/year, and ethylene production capacity of 2.8 million tons/year.
After the completion of the project, Rongsheng Petrochemical has the ability to start from “crude oil- The integrated production capacity of the entire industrial chain of fuel oil, naphtha-aromatics-PTA-polyester-spinning-texturing has greatly increased the production scale and enhanced the bargaining power of raw materials.
For petrochemical companies, the integrated layout and production capacity of the entire industry chain are particularly important.
Data from the China Petroleum and Chemical Industry Federation show that profits in the domestic petroleum and chemical industry fell sharply in the first half of the year. From January to June, China Petroleum and Chemical Industry The total industry profit was 141.6 billion yuan, a year-on-year decrease of 58.8%.
Among them, the profits of the oil and gas exploration industry fell by 72.2% year-on-year; the profits of the chemical industry sector fell by 32.6% year-on-year; the refining sector lost 24.4 billion yuan in the first half of the year, and the year-on-year profit dropped by up to 159%, ranking first among the three major sectors.
It is also because of its ability to integrate the entire industry chain that Rongsheng Petrochemical has been able to avoid the negative impacts of the epidemic and the global economic recession.
</p
