Core Viewpoint - Mitsubishi Corporation announced the acquisition of EnLink Midstream's Haynesville shale gas operations in the U.S. for approximately $5.2 billion, marking its first direct entry into the U.S. shale gas sector [1] Group 1: Acquisition Details - The agreement involves the purchase of all equity interests in related entities of EnLink Midstream [1] - The transaction is expected to be completed between April and June 2026, pending regulatory approval [1] Group 2: Asset and Production Information - The acquired assets span across Louisiana and Texas, with a current natural gas production of approximately 2.1 billion cubic feet per day, equivalent to an annualized output of about 15 million tons of liquefied natural gas (LNG) [1] - The produced natural gas is primarily sold to the southern U.S. market, with some considered for export [1] Group 3: Strategic Importance - The Haynesville Basin is recognized as one of the most strategically significant natural gas producing regions in the U.S. due to its proximity to several LNG export terminals along the Gulf Coast [1] - Mitsubishi already has capacity in the U.S. Cameron LNG project, and this acquisition will enhance its control over the entire supply chain from gas fields to export terminals [1]

中化新网讯 1月16日，雪佛龙公司宣布，已批准对其运营的以色列近海利维坦天然气田进行重大扩建， 以巩固其作为东地中海天然气市场核心供应商的地位。 雪佛龙与合作伙伴已就此项目作出最终投资决定，计划通过增钻3口海上井、安装新的海底基础设施及 升级现有平台处理设施，将气田年输气能力提升至约210亿立方米。新增产能预计在2030年前投产。 利维坦气田是地中海最大天然气发现之一，目前是以色列国内市场以及出口埃及天然气的主要来源。其 天然气通过管道输送至埃及，部分供应本土消费，部分用于出口欧洲市场。 雪佛龙将此投资视为加强区域能源安全的战略举措。该公司强调，在欧盟寻求天然气供应多元化以减少 对俄能源依赖的背景下，利维坦虽在全球液化天然气贸易中占比有限，但已成为区域关键供应枢纽，支 持着埃及的液化天然气出口设施。 雪佛龙自2020年收购诺贝尔能源后，持续扩大在该区域的影响力。除利维坦外，公司还运营以色列近海 的塔玛尔气田，并正在开发塞浦路斯近海的阿芙洛狄忒气田。 ...

嘉吉海运业务总裁表示，绿色甲醇双燃料船舶的设计提供了当下的运营灵活性与未来的环保升级可能。 该公司计划在未来几年内为船队再增加4艘同类船舶，并结合风能辅助推进、航程优化等多种技术形成 多路径脱碳方案。此举标志着航运业替代燃料应用从概念走向大规模商业验证，将加速绿色甲醇等低碳 燃料供应链的发展与行业标准的形成。 该船由常石造船建造，三井物产所有，可使用传统船用燃料或绿色甲醇运行，预计能减少高达70%的碳 排放。其首航将从菲律宾出发，在新加坡加注绿色甲醇后，驶往西澳大利亚并最终抵达欧洲。作为全球 最大的干散货租船方之一，嘉吉的行动向市场发出了明确的低碳需求信号。 中化新网讯 近日，全球农业与航运巨头嘉吉宣布，其租赁的首艘绿色甲醇双燃料干散货船"勇敢先锋 号"已交付并试航。此举是嘉吉推动航运业脱碳的关键一步，旨在通过实际运营测试绿色甲醇燃料的加 注流程、碳核算系统及市场接受度。 ...

中化新网讯 近日，法国能源巨头道达尔能源与巴林国家能源公司Bapco Energies宣布，双方在阿布扎比 正式签署协议，将共同组建一家各持股50%的石油产品贸易合资公司BxT Trading。Bapco Energies将借 助道达尔能源在全球贸易领域的专业经验，发展先进的交易、定价、分析和风险管理能力。 对道达尔能源而言，BxT Trading将强化其在中东地区的贸易地位。该公司已在休斯敦、日内瓦和新加 坡设立国际枢纽，此次合作将增强其贸易团队在中东当地的响应能力与灵活性，以更好把握区域市场机 遇。 巴林王室代表兼Bapco Energies董事会主席在签约仪式上表示，此举体现了巴林王国与全球领先能源公 司建立长期战略伙伴关系的承诺，是加强下游价值链、巩固巴林在国际能源市场竞争地位的关键一步。 ...

Group 1 - The global propylene market is expected to face weak demand, low prices, and high inventory pressures from 2025 to 2026, with a common issue of oversupply affecting various regions [1] - In Europe, propylene imports reached 1.46 million tons from January to September 2025, a 9% increase compared to the same period in 2024, which is expected to weaken local propylene consumption [1] - The price of polymer-grade propylene in Europe dropped significantly to €622.50 per ton by December 23, 2025, down from €781.50 per ton in early July [1] Group 2 - In North America, propylene inventory reached a historical high of 101.8 million barrels in the first week of December 2025, a 15.58% increase from 93.1 million barrels in the same period of 2024 [1] - The average variable profit for the propane dehydrogenation (PDH) industry in the U.S. fell to $122 per ton in December 2025, down from $254 per ton in the first eleven months of the year [2] - Despite market pressures, some companies maintain a positive outlook on propylene production, with a high operating rate of over 90% for two PDH units, although this has contributed to low propylene prices [2] Group 3 - The Asian propylene market is experiencing similar challenges, with prices declining due to weak downstream product profits and low polypropylene demand [2] - A Korean supplier indicated that the Asian propylene market lacks recovery momentum, with supply pressure from propane dehydrogenation units being significant [3] - The current situation suggests that any supply gap would quickly lead to the restart of idled propane dehydrogenation units, limiting the potential for price recovery in the propylene market [3]

Core Insights - The company views China as a key driver of global economic growth and aims to increase its sales in China from 10% to 15% of global sales by 2032 [1] Group 1: Market Outlook - China is the largest chemical producer globally, expected to account for 42% of the global market share by 2024, making it a core growth engine for the chemical industry [2] - The "dual carbon" strategy in China is driving the chemical industry to explore innovative solutions, with green sustainability becoming essential for high-quality development [2] - Emerging industries such as new energy vehicles, renewable energy, healthcare, and semiconductors are creating new market demands and growth points for the chemical sector [2] Group 2: Business Strategy - The company emphasizes R&D and production as the two pillars for growth in China, focusing on bio-based solutions, energy transition, and circular economy [3] - The company aims to enhance production efficiency and sustainability while providing stable, green product supply to both local and global markets [3] Group 3: Innovation and Collaboration - The company plans to focus on new energy and energy transition, developing high-performance materials for new energy vehicles and hydrogen energy [4] - It will establish innovation centers in China, such as a hydrogen technology center and an Asian skin research center, to support local customer needs from R&D to application [4] - The company is expanding its production capacity with projects like the specialty amines expansion in Nanjing and a specialty hydrogen peroxide plant in Leshan, set to be operational by 2026 [4]

Core Viewpoint - The Jinxi Petrochemical Company's Smart Technology Center has successfully implemented core corrosion management technologies, achieving multiple performance indicators that exceed expectations for stable production operations by 2025 [1] Group 1: Technology Implementation - The research team has established a comprehensive corrosion monitoring system supported by smart technology, enabling weekly assessments of offline, online, and process-related corrosion data for early warning and precise control of corrosion trends [1] - Continuous optimization of the electro-dehydration process's anti-corrosion plan has been conducted, with clear guidelines for backwashing operations to mitigate risks associated with abnormal iron content in post-dehydration crude oil [1] Group 2: Performance Metrics - The team achieved a 99.92% probe integrity rate for online monitoring, 100% coverage of key areas, a 98.97% compliance rate for iron ions in anti-corrosion water medium, and a 100% compliance rate for pH and chloride ions, with a 95.31% compliance rate for deep dehydration of crude oil, all exceeding project targets [1] Group 3: Reporting and Evaluation - Throughout the year, the team compiled 11 monthly technical reports on corrosion protection and 41 weekly reports, identifying 56 corrosion issues and providing 26 targeted protective recommendations for direct technical guidance to production [1] - The team completed 10 evaluations of crude oil systems from Liaohe, Daqing, and Niger, issued 6 reports, conducted 22 quick evaluations of crude oil, and maintained related data, supporting production operations and equipment calibration [1]

Core Viewpoint - The successful delivery of two large-scale hydrate reactors by Nanhua Machinery Company marks a significant advancement in the domestic industrial application of proprietary technology, reducing reliance on imports for such complex equipment [1][2] Group 1: Equipment Specifications - Each reactor measures 44.56 meters in length, 3.8 meters in diameter, and weighs 601 tons, representing the largest size in its category for domestic production [1] - The reactors are made from super austenitic stainless steel composite material, known for its excellent corrosion resistance and high-temperature stability [1] Group 2: Manufacturing Challenges - The manufacturing process involves extreme precision in material, process, and quality control due to the complex nature of the equipment [1] - The reactors feature 92 different specifications of pipe connections, each requiring meticulous attention to sealing performance and structural strength during welding [1] Group 3: Production Management - Nanhua Machinery established a full-process closed-loop control system to address technical challenges, including pre-manufacturing technical briefings and targeted process standards [2] - The production phase adopted a "wartime mode" with a "12 in, 12 out" three-shift operation to enhance efficiency and ensure thorough preparation for equipment testing and safety checks [2] Group 4: Quality Assurance - The project achieved first-time success in critical processes such as pipe connection welding, circumferential welding, and hydraulic testing, demonstrating effective quality control measures [2]

Core Viewpoint - Huisheng Clean Energy has officially transitioned its Qidong base from construction to production operations, marking a significant milestone in its strategic investment layout [1] Group 1: Production and Operations - The Qidong base has commenced trial production and has achieved a cumulative total of 6 million safe working hours in its construction projects [1] - The base is designed for the construction and integration of large floating facilities and modules, covering an area of approximately 1.2 million square meters with a coastline of 1,372 meters [1] - The first batch of segmented manufacturing has started, and key production lines and processes are now in substantial operation [1] Group 2: Technological Advancements - The base aims to enhance manufacturing efficiency and management levels, focusing on intelligent and digital production lines [1] - It has established a highly efficient collaborative production management system, centered around key processes such as hull, module, pipeline, and coating [1] Group 3: Strategic Importance - The trial production launch signifies a critical step in the company's manufacturing layout, enhancing its capabilities in green, large-scale, and intelligent construction [1] - This development is expected to support the continuous expansion of the company's business [1]

Group 1: Equipment Manufacturing Industry - The added value of the equipment manufacturing industry above designated size accounted for 36.8% of the total industrial output in 2025, an increase of 2.2 percentage points from the previous year [1] - The added value of the equipment manufacturing industry grew by 9.2% compared to the previous year, with a growth rate acceleration of 1.5% [1] - All eight sub-industries within the equipment manufacturing sector achieved growth, with the automotive and electronics industries showing rapid growth rates of 11.5% and 10.6%, contributing 12.4% and 18.1% to the overall industrial growth, respectively [1] Group 2: High-Tech Manufacturing Industry - The added value of high-tech manufacturing above designated size increased by 9.4% year-on-year in 2025, marking the highest growth rate since 2022, with a contribution rate of 26.1% to the overall industrial growth [2] - Key sectors such as integrated circuit manufacturing, aircraft manufacturing, electronic materials manufacturing, and biopharmaceuticals saw added value growth rates of 26.7%, 24.8%, 23.9%, and 12.1%, respectively [2] - The "Artificial Intelligence+" trend significantly boosted the production of storage chips and servers, which grew by 22.8% and 12.6%, respectively [2] Group 3: Digital Products Manufacturing Industry - The added value of digital products manufacturing above designated size rose by 9.3% year-on-year in 2025, with a contribution rate of 20.3% to the overall industrial growth [2] - Industries such as electronic components and smart device manufacturing experienced added value growth of 12.6% and 11.2%, respectively [2] - Production of intelligent manufacturing equipment, including industrial control computers and systems, 3D printing equipment, and CNC metal cutting machine tools, saw significant increases of 86.5%, 52.5%, and 13.7%, respectively [2] Group 4: Overall Industrial Economic Outlook - The industrial economy is projected to achieve rapid growth in 2025, with stable industrial production and significant growth in both equipment and high-tech manufacturing sectors [3] - Traditional manufacturing is undergoing optimization and upgrading, with a focus on implementing new development concepts and strengthening the real economy [3] - The emphasis is on cultivating new growth drivers to lay a solid foundation for high-quality industrial development [3]