.contact us |.about us
News > Business News ...
Search:
    Advertisement
Rising petrochem prices forecast
( 2003-08-22 14:17) (China Daily HK edition)

Sinopec Shanghai Petrochemical, China's largest ethylene producer, said yesterday prices of petrochemicals are expected to continue to rise in the years to come.

The petrochemical firm reported increases in the prices of petrochemical products in July. The prices of plastic products, chemical products and chemical fibre products rose by 4 to 10 per cent, said the company's Director and Vice-President Rong Guangdao.

Vice Chairman Xu Kaicheng said the completed "Phase IV Project", the efficiency of new and improved facilities, and the continued increase of the prices of petrochemical products in China will be the key profit makers of the company.

The company announced on Wednesday that first-half net profit jumped 132 per cent to 484.06 million yuan (US$58.46 million) despite a turbulent external environment.

The company forecast a significant increase in whole-year profit.

In the first six months, Shanghai Petrochemical processed 4.12 million tons of crude oil, up 21.4 per cent from a year earlier. Its output of ethylene grew 35.74 per cent to 461,500 tons. The company's production targets for crude oil and ethylene this year are 8.4 million tons and 900,000 tons respectively, said Xu.

 
Close  
   
  Today's Top News   Top Business News
   
+WHO: Bird flu death rises to 15; vaccination recommended
(2004-02-05)
+Solana: EU ready to lift China arms embargo
(2004-02-05)
+Nation tops TV, cell phone, monitor production
(2004-02-05)
+Absence ... still makes China hot
(2004-02-05)
+Hu: Developing world in key role
(2004-02-04)
+KFC: We operate normally in China despite bird flu outbreaks
(2004-02-05)
+Starbucks takes aim at China chain
(2004-02-05)
+Former Microsoft China chief gets new job
(2004-02-05)
+Private airline prepared for take off
(2004-02-05)
+Investors lured by call of siren
(2004-02-05)
   
  Go to Another Section  
     
 
 
     
  Article Tools  
     
 
 
     
  Related Articles  
     
 

+Sinopec to build new refinery in Qingdao
2002-08-16

+Sinopec: Pipeline flows on
2002-09-03

+Sinopec to continue diversifying and cut costs
2003-08-12

   
        .contact us |.about us
  Copyright By chinadaily.com.cn. All rights reserved