PetroChina ethylene output at 1.89mt in 2005

23 Mar '06

3 min read

In 2005, the growth of the Company's crude oil refining volume and refined products output were above the industry average due to optimal resources allocation and strong management of its refining business. The Company processed 752.3 million barrels of crude oil, representing an increase of 6 percent from 2004.

In 2005, the Company's refining and marketing segment recorded an operating loss of RMB19.81 billion due to the control of refined products prices by government authorities.

In 2005, the Company ran its major chemicals facilities at full capacity as it seized market opportunities and optimized its product mix. The Company produced 13.15 million tons of chemical products, representing a rise of 3.3 percent from 2004. It produced 1.89 million tons of ethylene, 2.76 million tons of synthetic resin, 0.28 million tons of synthetic rubber, and 3.58 million tons of urea in 2005.

In 2005, the chemical and marketing segment recorded an operating profit of RMB3.28 billion, RMB4.38 billion lower than a year earlier. Changes in raw material prices drove the profit lower by RMB3.176 billion, while an increase in depreciation and depletion expenses also pulled down the profit.

In 2005, the construction of major oil and gas pipelines proceeded smoothly. The Second Shaanxi-Beijing Pipeline was put into operation, lifting substantially the Company's capacity to supply natural gas to Beijing and the northern China region.

Petroleum and natural gas seller PetroChina Company Limited possesses fine financial performance with the net profits of RMB 55.2 billion yuan, RMB 45.5 billion yuan and RMB 46.9 billion yuan respectively in year 2000, 2001 and 2002.

PetroChina Company Limited

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