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Topic: China's Fuel dispenser oil refining industry Jan-Sep loss hits RMB 12

China's  Fuel dispenser oil refining industry Jan-Sep loss hits RMB 120 bln

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China's oil refining industry Jan-Sep loss hits RMB 120 blnPublished: 06 Nov 2008 01:52:06 PST<p class="authorInfor"]</p]<!--begin CK content--]
Nov. 6, 2008 (China Knowledge) - Net loss of the oil refining industry in China amounted to over RMB 120 billion in the first nine months of this year, sources reported. </p]
According to the statistics released by China Petroleum and Chemical Industry Association (CPCIA) on Wednesday, the petroleum and chemical industry forecast combined sales revenue of RMB 4.9 trillion and net profit of RMB 418.7 billion in the first three quarters in 2008, up 31.5% and 3.4% respectively compared with the same period of last year. </p]
Net profit of the chemical industry is expected to grow 31.0% and that of petroleum and gas exploration to increase 53.4%. </p]
Under the impact of the global financial crisis, the petrochemical industry in China has seen significant slowdown in growth and revenue with the slumping prices of petrochemical products. The total output value of the industry hit RMB 50 trillion in the first three quarters of this year, up 32% year on year, while the growth rate went down by 9.8 percentage points to stand at 25.1% in September, according to Feng Shiliang, vice general secretary with CPCIA.</p]
However, Feng still remains optimistic of the petrochemical industry and expects sales revenue and net profit to increase 26% and 6% respectively for the whole year, with the total output increasing 27%.<br /]</p]<br /]Copyright &copy; 2008 www.chinaknowledge.com<br /]<br /]Send feedback or comments to: news@chinaknowledge.com<br /]<br /]For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: <br /]<br /]To access our page on Bloomberg, type CKFI <go]<!--end CK content--]</go]<!-- right Begin --]Related TopicsChina News<br /]<map name="Map" id="Map"]</map]<!-- right end--]クレジットカード 現金化 外汇保证金交易 競馬予想 buy wow gold 网络电话 Study in China