Industry-wide losses in coal-based oil products

[China Epoxy Network (China Epoxy Industry Online)November 17, 2016: Affected by factors such as continued low oil prices, sharp increases in coal prices, and high tax burdens, coal-based Oil products are experiencing industry losses-this is the information obtained during a recent survey of some coal chemical companies in Northwest China with a research delegation in Shaanxi.
"Although we have adopted various methods to save costs and increase efficiency, due to the impact of the general environment, we still suffered losses from January to October.
The days of coal-based oil companies are really difficult.
" November 14, Shanxi Lu'an Coal-based Synthetic Oil Li Jinbo, general manager of the company, said with emotion.
According to him, the price of the raw material anthracite lump coal used by the company has doubled this year, and the blended blue charcoal raw material has also risen from 280 yuan/ton at the beginning of the year to 430 yuan/ton.
However, oil product prices continued to run at a low level in the first half of the year.
Although oil prices have stabilized recently and the company achieved a small profit in September and October, the loss in the first 10 months is difficult to change.
It is understood that the loss phenomenon has spread throughout the coal-based oil industry.
Shenhua 1.
08 million tons/year coal direct liquefaction, 180,000 tons/year coal indirect liquefaction, Yankuang Shaanxi Yulin Future Energy Chemical Company 1 million tons/year coal indirect liquefaction, Shenmu Tianyuan Chemical Company 500,000 tons/year coal tar light , Bao Ni Company's 100,000 tons/year coal-syngas-methanol-mixed aromatics, and Qinghua Group coal tar hydrogenation and coal-syngas-methanol-mixed aromatics projects, the performance of the first 10 months of this year was unsatisfactory.
Taxes and fees have also become a heavy burden on enterprises.
Some large-scale coal-to-liquid projects account for more than 50% of operating income due to various taxes and fees, and losses of more than 100 million yuan.

The semi-annual report of Inner Mongolia Yitai Coal Co.