2010-02-03 [Source: Pudaily]

The petrochemical industry in China is expected to achieve double-digit growth in output value, revenue and profits this year, according to a spokesperson from the China Petroleum and Chemical Industry Association (CPCIA).

The total output of the industry was ¥6.63t ($971bn) last year, up 0.3% year-on-year, which accounted for 12.13% of the nation's industry output, CPCIA deputy secretary general Feng Shili told Shanghai Securities News.

The Chinese refining sector earned profits of ¥72.9bn ($10.6bn) in the first 11 months of 2009, reports Chinadaily.com.cn.

China used 388 million tonnes of crude oil, 228 million tonnes of refined oil and 87.45 billion cubic metres of natural gas in 2009, which were all higher than 2008 totals, CPCIA said.