Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Hengli Petrochemical Co Ltd    600346   CNE0000018V0

HENGLI PETROCHEMICAL CO LTD

(600346)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

China July crude throughput climbs on-year, but off record as glut weighs

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/13/2019 | 11:18pm EDT

BEIJING/SINGAPORE (Reuters) - China's July crude oil throughput rose 4% from a year earlier, official data showed on Wednesday, buoyed by improved refinery profit-margins and as new plants started production.

Refinery runs reached 52.6 million tonnes last month, or about 12.39 million barrels per day (bpd), according to figures from the National Bureau of Statistics (NBS).

However, that was down over 5% from June's record of 13.07 million bpd, amid mounting supplies from more efficient, giant producers.

"Profit-margins at refineries are following an upbeat trend, largely supported by strong demand for diesel amid robust industrial operations," Jin Xiao, senior analyst at Orient Futures, said ahead of the data release.

Average refining losses on processing crude oil have largely narrowed to a break-even level, with some plants with production lines more geared towards chemicals turning a profit.

But Jin added that this recovery in profits could be temporary as China's oil refining industry still has ample overcapacity and plentiful supply of refined oil products.

Newly launched private firm Hengli Petrochemicial is running at full refining capacity of 400,000 bpd, while Zhejiang Petrochemical is expected to reach full operations during the third-quarter.

Elsewhere, Hengyi Petrochemical has started trial operations at its new refinery and petrochemical facilities in Brunei, the fourth refinery to commence production in Asia this year.

"China's refined oil exports mainly flow to Southeast Asia. The launch of this new refinery will elbow out Chinese refined products and exacerbate the oil glut, which will further cut profit-margins at refineries," said Jin.

For the first seven months of 2019, Chinese crude throughput rose 5.6% from a year earlier to 369.73 million tonnes, or 12.73 million bpd, the NBS reported.

The NBS data also showed China's crude oil production in July rose 2.5% on-year to 16.29 million tonnes, or about 3.84 bpd. That compares to 3.92 million bpd in June.

Output in the January to July period increased 1% from a year earlier to 111.31 million tonnes, or about 3.83 million bpd.

Natural gas output reached 13.9 billion cubic metres (bcm) in July, 6.1% higher than a year earlier, according to the data.

In the January-July period, China churned out 100.3 bcm of gas, up 9.7% on-year.

Natural gas output growth once again outpaced crude oil as state-backed companies boosted production to meet increasing demand amid Beijing's push to replace coal with clean energy.

(Reporting by Muyu Xu in BEIJING and Chen Aizhu in SINGAPORE; Editing by Tom Hogue and Joseph Radford)

By Muyu Xu and Chen Aizhu

Stocks mentioned in the article
ChangeLast1st jan.
HENGLI PETROCHEMICAL CO LTD 1.54% 13.2 End-of-day quote.39.47%
HENGYI PETROCHEMICAL CO LTD End-of-day quote.
LONDON BRENT OIL 0.34% 59.18 Delayed Quote.7.76%
WTI 0.29% 55.33 Delayed Quote.20.64%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on HENGLI PETROCHEMICAL CO LT
08/13China July crude throughput climbs on-year, but off record as glut weighs
RE
07/31China to triple paraxylene capacity by 2025, close import gap - industry asso..
RE
07/25China exports gasoline to Mexico, Nigeria amid overflowing output
RE
07/24China raises 2019 oil product export quota volumes from last year
RE
07/08China refiners curb fuel output after massive new plants stoke glut
RE
07/02HENGLI PETROCHEMICAL : China issues more crude import quotas for mostly private ..
RE
05/23Asia oil refiners mull run cuts with margins at 16-year low for season - sour..
RE
05/11HENGLI PETROCHEMICAL : Chinas Hengli Petrochemical seeks spot crude as it looks ..
AQ
05/06HENGLI PETROCHEMICAL : China's Hengli boosts Saudi oil buys as new refinery ramp..
RE
2018HENGLI PETROCHEMICAL : China's Hengli Petchem to test new oil refinery on Decemb..
RE
More news
Financials (CNY)
Sales 2019 110 B
EBIT 2019 11 466 M
Net income 2019 8 642 M
Debt 2019 68 373 M
Yield 2019 2,27%
P/E ratio 2019 11,5x
P/E ratio 2020 7,71x
EV / Sales2019 1,46x
EV / Sales2020 1,04x
Capitalization 92 916 M
Chart HENGLI PETROCHEMICAL CO LTD
Duration : Period :
Hengli Petrochemical Co Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HENGLI PETROCHEMICAL CO LT
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 13
Average target price 16,03  CNY
Last Close Price 13,20  CNY
Spread / Highest target 36,4%
Spread / Average Target 21,4%
Spread / Lowest Target 5,30%
EPS Revisions
Managers
NameTitle
Hong Wei Fan Chairman & General Manager
Wei Ming Wang Chairman-Supervisory Board
Xue Fen Liu Chief Financial Officer & Deputy General Manager
Feng Li Secretary, Director & Deputy General Manager
Li Li Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
HENGLI PETROCHEMICAL CO LTD39.47%13 010
SAUDI BASIC INDUSTRIES CORPORATION SJSC--.--%83 189
AIR LIQUIDE13.60%57 412
AIR LIQUIDE SA (ADR)--.--%57 412
SHIN-ETSU CHEMICAL CO LTD27.37%41 677
LYONDELLBASELL INDUSTRIES-10.71%24 339