The profit of the petrochemical sector has fallen-the third quarter performance inventory of listed petroleum and chemical companies (part 1)

Editor's note As of October 31, the third quarterly report of A-share listed companies had disclosed their performance

In the first three quarters, what was the specific performance of each segment of the petrochemical industry, what characteristics did it present, and how will the trend in the later period be interpreted? In this regard, the report "Inventory of the Third Quarter Results of Listed Petroleum and Chemical Companies" was released for reference

Driven by the skyrocketing international crude oil prices, the revenue and profit of the petroleum and chemical sectors increased steadily in the first three quarters

International oil prices hit a 3-year high

Since the beginning of this year, the supply of crude oil has been affected by the hurricane, and OPEC has not seen a significant increase in supply, resulting in tight crude oil supply and soaring prices

"Affected by the rise in international crude oil prices, the prices of domestic petrochemical-related products in the third quarter rose significantly, generally 10% to 30%, which was larger than that in the first half of the year

Regarding future crude oil market trends, Jeff Currie, Global Head of Commodities at Goldman Sachs, said that if this winter is colder than previous years, oil prices may accelerate to $90 per barrel

The petrochemical sector's net profit fell

This can be seen from the third-quarter results of PetroChina and Sinopec, which account for a large share of the industry

　　Sinopec's performance shows that the company's revenue in the first three quarters reached 2 trillion yuan, and the net profit attributable to the parent was about 59.

　　In addition to PetroChina and Sinopec, there are 57 listed companies involved in oil and gas exploration, refining, and oil service industries

　　Refining and chemical profitability keeps growing

　　With the rising prices of crude oil and downstream products, the revenue and profits of major refining and chemical listed companies continued to grow in the first three quarters

　　Hengli Petrochemical relies on the advantages of the upstream "big chemical" platform built by "refining and chemical + ethylene + coal chemical", the company's revenue and profit scale have reached new highs, and the single-quarter profit level has remained above 4 billion yuan; Hengyi Petrochemical" The industrial layout of a drop of oil, two threads has been continuously improved, fully demonstrating the advantages of the entire industrial chain of balanced integration of upstream and downstream "columnar" and the advantages of international operation.

　　In addition to crude oil prices directly affecting the earnings of individual refining and chemical stocks, the quality of its development also determines the future earnings of a company

　　It is understood that the cooperation between Qixiang Tengda and the Qingdao Institute of Bioenergy and Process of the Chinese Academy of Sciences in the field of hydrogen energy development and utilization is expected to open up a new track in the field of new energy for Qixiang Tengda