In the first half of 2007, the Group realized net sales of RMB26,468.2 million, up 14.46% from last year, among which net sales derived from petroleum products, intermediate petrochemicals and resins and plastics increased by 11.22%, 37.69% and 6.59%, respectively, while net sales of synthetic fibres reported a 0.42% dip.
During the Period, the Group processed 4,512,700 tons of crude oil, an increase of 1.48% or 65,600 tons on a year-on-year basis. Of the total processed amount, imported oil and offshore oil amounted to 4,266,100 tons and 246,600 tons, respectively. The output of gasoline decreased by 27.41% to 290,800 tons, while the output of diesel reported a 2.34% hike to 1,360,200 tons. Production of jet fuel reached 351,500 tons, up 39.15%.
The output of ethylene and propylene amounted to 476,500 tons and 248,000 tons, respectively, representing respective decreases of 0.79% and 5.95%.
On the other hand, the output of synthetic resins and plastics, synthetic fibre monomers and synthetic fibre polymers amounted to 558,400 tons, 430,700 tons and 302,400 tons, respectively, recording respective increases of 0.43%, 12.72% and 0.80%. However, the output of synthetic fibres dropped 4.98% to 162,300 tons. The Group's output-to-sales ratio and receivable recovery ratio in the first half were 99.15% and 99.24%, respectively.
Other major projects of the Group, which aimed at further adjusting and optimizing assets and products composition, proceeded smoothly. For example, the flue-gas desulphurization project, the 620-ton/hour steam boiler, the 100MW power generation project, the 1,200,000-ton/year delayed coking plant and the 600,000-ton/year PX aromatics complex were all proceeding steadily as scheduled. Some of these projects are expected to commence operation within the year.
Looking ahead, Mr. Rong Guangdao, said, "In the second half of 2007, the global supply and demand of crude oil will remain relatively unbalanced. It is anticipated that crude oil prices will hover at higher levels or will even set new highs, while the Company's major production facilities will undergo large- scale inspection and maintenance."
Sinopec Shanghai Petrochemical Company Limited
marketing@alchempro.com
