Domestic oil and gas exploitation has been losing for second consecutive years, but compared to 2016, the cost and profitability have improved.
In February 6th, the Federation of petroleum and chemical industries of China (hereinafter referred to as the Federation of petrochemical industry) issued the 2017 review of the economic operation of China's petroleum and chemical industry and the 2018 outlook report. The report showed that the deficit of oil and gas mining industry in 2017 was 30%, reduced by 9.2 percentage points over the same period. Among them, the oil mining industry has a loss of 58%, and nearly 60% oil mining enterprises have a total net loss of 1 billion 150 million yuan.
In 2017, oil and natural gas extraction industry costs 100 yuan, 78.18 yuan, and 10.18 yuan compared with the same period last year. The profit and profit rate of domestic oil and natural gas exploitation owners is 3.58%, and the main profit and profit rate is -7.04% last year.
As one of the three major business segments of the petrochemical industry, as of the end of 2017, the domestic oil and gas industry scale of more than 293 enterprises, the cumulative main income of 920 billion 150 million yuan, an increase of 17.6%; net profit of 32 billion 980 million yuan, profit, compared to a net loss of 55 billion 80 million yuan.
The industry completed 264 billion 890 million yuan in fixed assets investment in 2017, up 13.9% from the same period. By the end of 2017, the total assets were 2 trillion and 180 billion yuan, down 3.9% from the same period, and the asset liability rate was 46.95%.
In addition, the producer price index of oil and natural gas extraction industry increased by 29% in 2017, and chemical raw materials and chemical products manufacturing increased by 9.4%. The total price level ended five consecutive years. This has also contributed to the warming of the petrochemical performance.