TITLE

High Oil Price Continues to Support High Profit

PUB. DATE
October 2005
SOURCE
China Chemical Reporter;10/16/2005, Vol. 16 Issue 29, p23
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article presents data showing the increasing profitability of China's petrochemical industry which is expected to be continued due to high oil prices. During January to June 2005, China's petrochemical industry, reportedly, achieved sales revenue of RMB1481.681 billion, increasing by 35.41% compared with the same period of last year, and recorded total profit of RMB171.473 billions, a rise of 37.28%. Presently 98 petrochemical companies that are listed publicly in domestic stock market disclosed their economic report for the first half of 2005. Three factors are identified as major profit-boosters of the industry: high crude oil price, brisk domestic demand, and improved management. Global crude oil price in the second half of 2005 is expected to continue to maintain high level.
ACCESSION #
18886020

 

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