Sinopec Shanghai Petrochemical Co. (600688), one of China's major oil refineries which is included in the MSCI Emerging Markets Index, published data on the outputs, sales, and prices of its key products in 2017 on Wednesday.
The report shows that the company produced a total of over 3.86 million tons of diesel fuel last year, of which around 3.38 million tons were sold for about 16.2 billion yuan. While its total gasoline output last year exceeded 3.16 million tons, with approximately 3.17 million tons (including inventory) sold for over 20.8 billion yuan. What's more, the company produced 1.57 million tons of jet fuel in total over the past year, of which around 750 thousand tons were sold for about 2.67 billion yuan.
Apart from its oil products, the sale of its intermediate petrochemical products added over 7.26 billion to the company's total revenue for 2017. What's more, the sale of resin and plastic also generated a total of over 1 billion yuan for the company last year while the sales of its synthetic fiber reach over 2 billion yuan in 2017.
When it comes to its product prices, the company saw an uptick in all of its oil products last year, with the price of diesel rising 3.63 percent from 2016 to hit 4,781 yuan per ton in 2017, while the price of gasoline reached 6,572 yuan per ton last year, an increase of 10.45 percent from 5,951yuan per ton in 2016. The biggest gain in its prices came from the company's jet fuel, whose price jumped by over a quarter to hit 3,566 yuan per ton in 2017.
According to the report, the general spike in the company's product prices might be partly due to the rise of the conversion cost for crude oil, which increased by over 30 percent to reach 2,581.25 yuan per ton in 2017.
The report shows that the company produced a total of over 3.86 million tons of diesel fuel last year, of which around 3.38 million tons were sold for about 16.2 billion yuan. While its total gasoline output last year exceeded 3.16 million tons, with approximately 3.17 million tons (including inventory) sold for over 20.8 billion yuan. What's more, the company produced 1.57 million tons of jet fuel in total over the past year, of which around 750 thousand tons were sold for about 2.67 billion yuan.
Apart from its oil products, the sale of its intermediate petrochemical products added over 7.26 billion to the company's total revenue for 2017. What's more, the sale of resin and plastic also generated a total of over 1 billion yuan for the company last year while the sales of its synthetic fiber reach over 2 billion yuan in 2017.
When it comes to its product prices, the company saw an uptick in all of its oil products last year, with the price of diesel rising 3.63 percent from 2016 to hit 4,781 yuan per ton in 2017, while the price of gasoline reached 6,572 yuan per ton last year, an increase of 10.45 percent from 5,951yuan per ton in 2016. The biggest gain in its prices came from the company's jet fuel, whose price jumped by over a quarter to hit 3,566 yuan per ton in 2017.
According to the report, the general spike in the company's product prices might be partly due to the rise of the conversion cost for crude oil, which increased by over 30 percent to reach 2,581.25 yuan per ton in 2017.
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