Biz News Flash

Oil & chemical sector output hits $1.35t

(Xinhua)
Updated: 2011-05-24 14:25

China's oil and chemical industry generated 8.88 trillion yuan ($1.35 trillion) in gross output value in 2010, an increase of 160 percent over 2005, according to China Petroleum and Chemical Industry Association.

The output value is expected to reach 15 trillion yuan in 2015.

Last year saw China produce 203 million tons of crude oil, process 420 million tons of crude and produce 14.19 million tons of ethylene.

The sector recorded $458.78 billion in foreign trade in 2010, up 130 percent from 2005 level.