The country’s import and export volume of petrochemical products in 2022 rose by 21.7 per cent YoY to $1.05 trillion.

China’s petrochemical industry has reached a total revenue of 16.56 trillion yuan (approximately $2.41 trillion) in 2022, up 14.4 per cent compared to the previous year, as per the China Petroleum and Chemical Industry Federation (CPCIF). However, the industry’s total profit decreased by 2.8 per cent year-on-year (YoY) to 1.13 trillion yuan.

Moreover, the country’s crude oil output reached 205 million tonnes in 2022, indicating a 2.9 per cent YoY increase, marking the fourth consecutive year of growth. The country’s natural gas output was also up, standing at 217.79 billion cubic metres in 2022, a growth of 6.4 per cent YoY, according to Chinese media reports.

Fibre2Fashion News Desk (DP)