Slower industry growth The petrochemical industry is a pillar industry of the national economy. From the perspective of the entire industry chain, the upstream is a resource industry, oil and gas are important international strategic materials, and the refined oil and petrochemical products produced in the middle and lower reaches directly affect the end consumer market.
Wang Jiming said: "Market demand has weakened, prices have fallen sharply, and the growth rate of production of major products has slowed down significantly." He pointed out that due to factors such as the international financial crisis and economic slowdown at home and abroad, the demand for domestic refined oil products is sluggish and prices are falling. Since August 2008, the output value of China's oil and petrochemical industry has continued to slow down. At the same time, due to factors such as the shrinking export market of petrochemical-related products, weak domestic real estate, and declining sales of automobiles, the market demand for China's petrochemical products has fallen sharply, resulting in a passive situation in which petrochemical products “price and price declineâ€. By the end of 2008, the price of domestic petrochemical products had fallen by more than 50%, and some even exceeded 70%.
He believes that due to the dual impact of the global financial crisis and sluggish economic cycle, China's demand for refined oil products will decrease by 2% to 4% in 2009, and the demand for petrochemical markets will decline at a significant rate. Some products may experience negative growth, which is nearly 20 percent. Never appeared in years. At the same time, due to the launch of new petrochemical projects in the Middle East and increased production capacity of China's petrochemical products, it will bring even greater impact on the petrochemical market.
The market demand has dropped drastically, and the growth rate of production of petrochemical products has generally declined in most enterprises. In December 2008, crude oil processing volume decreased by 7.4% year-on-year; due to the shrinking downstream demand and the drastic fall in market prices, the operating rate of petrochemical enterprises dropped significantly, and production continued to decline. At the same time, ethylene production dropped by 19% year-on-year; synthetic resin production decreased by 14.1% year-on-year; Fibre monomer production fell by 15.5% year-on-year.
Exports and Output Values ​​Declined Wang Jiming pointed out that the petrochemical industry is a resource-funded, technology-intensive industry with high industrial correlation and large economic aggregates. It plays a decisive role in promoting related industrial upgrading and stimulating China’s economic development. China’s petroleum and petrochemical equipment manufacturing industry is The indispensable link in the petroleum and petrochemical industry chain provides an important material guarantee for the rise and development of the petroleum and petrochemical industry. However, as the economic recession triggered by the financial crisis is spreading to the real economy, the domestic oil and petrochemical equipment manufacturing industry has also been subject to certain shocks.
From the fourth quarter of 2008 onwards, the impact of the international financial crisis on the petroleum and petrochemical equipment industry began to appear. The growth rate of industrial output value slowed down, and exports tended to fluctuate significantly and showed a downward trend. After exports fell sharply by 25% in October 2008, they also recorded a negative growth of 15% in December; total industrial output fell by 4.5% in December from the previous month. It is estimated that in 2009, due to factors such as low crude oil prices and declining demand for crude oil, sharp declines in market demand for advanced economies, and rising trade protectionism, the export delivery value of China's petroleum and petrochemical equipment industry will be greatly reduced, and will even appear. Negative growth.
Wang Jiming analyzed that due to the above factors, this year's oil and petrochemical equipment industry will not experience a large increase in efficiency.
He believes that since 2006, the state has increased financial support for the localization of major technical equipment, thereby accelerating the development of China's petrochemical major equipment. As of November 2008, China's petrochemical equipment manufacturing industry achieved a total profit of 10.372 billion yuan, up 37.1% year-on-year. Among them, the total profit of the oil drilling equipment manufacturing enterprises was 6.797 billion yuan, an increase of 32.8% year-on-year, and the total profit of the special equipment manufacturing enterprises for refining and chemical production was 2.205 billion yuan, a year-on-year increase of 42.7%.
With the petrochemical industry gradually affected by the international financial crisis, some of the projects under construction have been adjusted, some manufacturing enterprises have become increasingly difficult, the growth rate of corporate profits has declined rapidly, and the loss area has expanded. It is expected that the production and operation of petrochemical equipment manufacturing industry will be more difficult in 2009. The profitability situation is grim. However, from the perspective of domestic oil and gas exploration, development, and processing companies such as PetroChina, Sinopec, and CNOOC, the major demand for petroleum and petrochemical equipment of the three major oil companies in 2009 remained stable or slightly increased in 2008.
At the same time, petroleum and petrochemical equipment manufacturing companies have undertaken the manufacturing tasks of domestic and foreign metallurgical, chemical (including coal chemical) and electric power industries in addition to the manufacturing tasks of the three major oil companies. The impact of the financial crisis has caused many domestic and foreign The investment intensity of the industry has decreased or the progress has slowed down. It is expected that the number of tasks undertaken by petroleum and petrochemical equipment manufacturing companies in 2009 will be insufficient, and the competition will be fiercer.
Policy support brings market space On February 19, 2009, the Chinese government passed the "Planning and Revitalization Plan of the Petrochemical Industry" in principle. The development goals of building large-scale oil and gas production bases, large-scale oil refining bases, comprehensive oil and gas storage and transportation facilities, and actively promoting the construction of the second phase of oil reserve bases are proposed in the next three years. First, the oil and gas industry will accelerate the development of oil and gas in the western region and increase offshore oil and gas reserves. And output, by 2011, new production capacity will be 70 million tons, crude oil production will reach 198 million tons; new natural gas reserves will be 1.2 trillion cubic meters, production capacity will be 65 billion cubic meters, and natural gas production will reach 120 billion cubic meters; Implement major projects and build 6 sets of oil refining and 8 sets of ethylene major projects within the “Eleventh Five-Year Planâ€, striving to complete and put into operation in 2011, including Dushanzi Petrochemical, Tianjin Petrochemical, Fujian Refining, Sichuan Refining and Chemical Integration, Guangdong Nansha Petrochemical, Guangxi Refining, Zhenhai Refining, Maoming Refining, Wuhan Petrochemical, Fushun Petrochemical, Daqing Petrochemical Ethylene and other projects formed 20 million-ton-grade oil refining bases and 11 million tons of vinyl bases; , northwest, southwest, offshore Sino-Kazakhstan II and other crude oil pipelines, Lanzhou-Zhengzhou-Changsha, and other natural gas pipelines, natural gas pipelines, etc. Pipeline, as well as the new Qingdao LNG terminal and associated pipeline. These investment projects will bring a huge market space for equipment manufacturing.
Wang Jiming said: "On February 4th, the State Council adjusted the revitalization plan through equipment manufacturing, which provided new impetus for the development of petroleum and petrochemical equipment."
The plan clearly points out the basic ideas and directions for the future development of petrochemical equipment manufacturing industry: First, encourage the strengthening of industrial restructuring, seize the opportunity to promote industrial upgrading, give preferential taxation policies to enterprises to purchase high-end, environmental protection equipment, and second, support enterprises to improve their autonomy. Innovation capability, especially upgrading the technical level of large-scale castings and forgings, basic components, processing complexes, special raw materials and other ancillary products, consolidating the foundation for industrial development, promoting product upgrading and upgrading the overall technology level of the industry; Third, supporting the reorganization of key enterprises in equipment manufacturing Promote the transformation of enterprises from "bigger and stronger" to "stronger and bigger"; implement the accelerating implementation of the first set of domestic equipment risk compensation mechanism, relying on key projects in natural gas pipeline transportation and liquefaction storage and transportation, etc. To realize the domestic manufacture of key products, promote the localization of equipment, encourage domestic users to purchase domestic machinery and equipment, combine key projects in the large industries such as steel, automobile, and textile, promote equipment automation, equipment manufacturing industry revitalization plan will be beneficial to petrochemical equipment manufacturing industry Long-term development.
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