China's petrochemical industry Jan-Aug output up 34.9%

The output of China's petrochemical industry rose 34.9 percent year-on-year to 6.4 trillion yuan (1 trillion U.S. dollars) in the first eight months of this year, according to China Petroleum and Chemical Industry Federation (CPCIF). Of the total output value, 2.02 trillion yuan came from the oil refining sector, while the chemical industry contributed 4.2 trillion yuan, up 30.6 percent and 37.1 percent year-on-year respectively, according to the CPCIF. All production indicators pointed to slower growth of the petrochemical industry from January to August. The crude oil processed added only 6.6 percent year-on-year to 297.44 million tonnes, compared with 13.4 percent in the same period of last year. Finished oil output rose 7 percent from a year earlier to 176.56 million tonnes, while ethylene products increased 14.6 percent to 10.34 tonnes in January-August. The growth of finished oil and ethylene was 3 percentage points and 17.1 percentage points lower than the same period of last year, respectively.