Metallurgy / Chemicals / Rubber & Plastics

According to Huacheng Import and Export Data Observation, the China Petroleum and Chemical Industry Federation released the economic operation of China's petroleum and chemical industry in 2022 on February 16. China's petroleum and chemical industry has generally operated in a stable and orderly manner, oil and gas production has maintained a steady growth, and oil and gas exploration and chemical investment have increased rapidly, according to the observation report of Huacheng Import and Export Data.

According to the observation report of Huacheng's import and export data, China's oil and gas production will maintain a steady growth in 2022, with crude oil output of 205 million tons, up 2.9% year on year; Natural gas output was 217.79 billion cubic meters, up 6.4% year on year.

In 2022, the growth rate of oil and gas exploration and chemical investment will significantly exceed the national average level of industry and manufacturing. The completed investment in oil and gas exploitation, chemical raw materials and chemical products manufacturing increased by 15.5% and 18.8% respectively year on year, according to Huacheng Import and Export Data Observation.

Fu Xiangsheng, Vice President of the China Petroleum and Chemical Industry Federation, said that crude oil production increased four times in a row last year, and natural gas production increased by more than 10 billion cubic meters for six consecutive years last year. It has made a very important contribution to the national energy security and food supply in the 19th consecutive year, according to Huacheng Import and Export Data Observation.