[Haichuan Industry News] Top 100 companies in Shandong’s chemical and petroleum sector released; petrochemical enterprises account for a quarter of them

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On October 27, 2016, the announcement ceremony for the top 100 enterprises in Shandong Province’s petroleum and chemical industry was held in Jinan. 100 chemical enterprises, including Shandong Dongming Petrochemical Group Co., Ltd., Sinopec Corporation Shengli Oilfield Branch, Wanhua Group Co., Ltd., Dongyue Group Co., Ltd., and Jindongda Ecological Engineering Group Co., Ltd., made it onto the list. It is understood that, based on sales revenue, the threshold for making it into this list of the top 100 companies is 1.033 billion yuan. Dongming Petrochemical, ranked first, has a figure of 81.22 billion yuan. Among the 100 strengthened enterprises, 6 have sales revenue of over 50 billion yuan, 23 have sales revenue between 20 billion and 50 billion yuan, 16 have sales revenue between 10 billion and 20 billion yuan, and 55 have sales revenue of less than 10 billion yuan. Liu Yu, vice president and secretary-general of the China Chemical Industry Information Association, believes that the gap between smaller enterprises and the leading companies is quite significant; enterprises with low sales revenue, especially those with sales below 2 billion yuan, should overcome difficulties and improve their revenue generation capabilities. In terms of sub-sector distribution, among the 100 leading enterprises, there are 28 petrochemical companies, 13 fertilizer companies, 12 coal chemical companies, 12 rubber and tire companies, 9 fine chemical companies, 8 marine chemical companies, 6 companies that produce basic chemical raw materials, 4 pesticide companies, and 8 companies in the new materials sector. Liu Yu pointed out that petrochemical enterprises account for the largest share, mainly due to the rapid development of local refining enterprises in Shandong over the past two years.