BEIJING, 18th February, 2023 (WAM) — China's petrochemical industry saw an increase in revenues and a decline in profits in 2022, according to the China Petroleum and Chemical Industry Federation (CPCIF), Xinhua News Agency reported.
The country's petrochemical industry registered a total revenue of 16.56 trillion yuan (about US$2.41 trillion) in 2022, climbing 14.4 percent year-on-year, while its total profit eased 2.8 percent to 1.13 trillion yuan.
In 2022, the import and export volume of petrochemical products rose 21.7 percent year-on-year to US$1.05 trillion.
According to the CPCIF, China's crude oil output stood at 205 million tonnes in 2022, a year-on-year increase of 2.9 percent, in a fourth consecutive year of growth.
In the period, the country's natural gas output was 217.79 billion cubic metres, a year-on-year increase of 6.4 percent.