Core Viewpoint - The successful commissioning of Hunan Petrochemical's 1 million tons/year continuous reforming unit project marks a significant advancement in gasoline production and quality, utilizing proprietary technology and domestic catalysts [1][2] Group 1: Project Overview - The project has achieved design standards in key operational indicators after 72 hours of monitoring, indicating a successful initial operation [1] - It employs Sinopec's self-developed Super Low-Pressure Continuous Reforming (SLCR) technology and domestic reforming catalyst PS-VI, processing straight-run naphtha and mixed naphtha to produce high-octane gasoline components and by-products [1] Group 2: Production and Process Management - The project includes three units: continuous reforming, aromatics extraction, and high-purity gas separation (PSA), forming a closed-loop industrial chain that enhances product value [1] - During construction, Hunan Petrochemical coordinated closely with contractors to ensure timely completion of project phases and improved management of project quality and progress [1] Group 3: Safety and Operational Readiness - The company conducted seven full-process simulation drills to refine operational details and ensure a smooth startup process [2] - A special task force monitored the startup progress in real-time, with key personnel maintaining a 24-hour presence on-site to enforce safety controls [2]

图为硫铁矿制酸装置全景。 该装置采用硫精砂为原料，采用先进的"3+1"两转两吸工艺，制备92.6%浓硫酸，使用国产高效低压降 触媒和纤维除雾器，整个流程中二氧化硫总转化率达99.8%以上，三氧化硫吸收率达99.9%。该装置于 2025年12月26日投料，12月27日产出产品，目前已实现稳定生产。 该项目位于湖北省黄冈市武穴市马口工业园，是湖北省重点项目、黄冈市单体投资规模最大的工业项 目。其中，40万吨/年硫铁矿制酸装置是该项目核心配套工程。作为十三化建在硫化工领域的成功范 例，该项目为公司后续承接同类型重大项目奠定基础。 中化新网讯1月1日，中国化学（601117）工程十三化建承建的湖北新祥云磷系新材料项目40万吨/年硫 铁矿制酸装置投产。 ...

据悉，"铜川—白水—潼关"输气管道工程是陕西省重点建设项目，旨在完善该省天然气管网布局，提高 渭北区域的供气保障能力。针对渭河定向钻穿越距离长、深度大、穿越地层地质条件复杂等难题，设计 团队前期仔细分析，识别局部塌孔、抱管、抱钻、回拖阻力大、防腐层易受损等风险，从技术角度对钻 机选型、轻量化钻杆组合、大级差轻型扩孔器选择、泥浆配比等提出了严格要求，同时采用小角度入土 角和出土角设计，使穿越曲线更加平滑，在出土端采用"开挖预制坑+吊管机+吊篮+发送沟"的猫背设计 方案，解决了大管径管道回拖入洞难的问题，保障了管道回拖成功。 与此同时，渭河作为黄河的最大支流，生态系统脆弱。为保护施工周边环境，设计团队制订了水土流失 防治、废弃泥浆处理、固体废弃物及生活垃圾处理等切实有效的技术措施，防止施工对环境产生破坏。 中化新网讯2025年12月24日，"铜川—白水—潼关"输气管道工程渭河定向钻穿越工程一次性回拖成功， 工程建设刷新此类项目的长度纪录。 据中国石油天然气管道工程有限公司线路及穿跨越所党总支书记左雷彬介绍，这一项目由该公司独立设 计完成，项目定向钻长度达4259.67米，此次回拖刷新了管径610毫米、砂质地层定向 ...

石门澳化工新材料产业园是莆田国家级新型功能材料千亿产业集群核心承载区。6#、9#泊位项目作为福 建省内唯一具备液氨作业资质的10万吨级化工码头，预计12月验收投运，将为莆田新型功能材料千亿产 业集群打通物流关键节点，支撑区域产业升级。该项目新建5000吨级、10万吨级液体散货泊位各1个， 年设计通过能力396万吨。其中，6#泊位专注服务小批量高附加值化学品运输，9#泊位主打大宗原料接 卸，承担了项目70%以上的吞吐量，单船卸载效率较传统模式提升3倍。 中化新网讯日前，福建湄洲湾港秀屿港区石门澳作业区6#、9#泊位码头主体、疏浚工程、导助航工程等 8个单位工程顺利通过交工验收。 ...

Core Viewpoint - The environmental impact report for the high-end chemical project by Xinpu Chemical (Taixing) Co., Ltd. has been approved, indicating a significant investment in the chemical industry in Taizhou [1] Investment Details - The total investment for the project is 718.732 million yuan, with 54.53 million yuan allocated for environmental protection, representing 0.76% of the total investment [1] Project Specifications - The project includes the construction of a 62,400 Nm3/h syngas unit, a 500,000 tons/year butanol unit, a 400,000 tons/year polypropylene unit, a 16,000 Nm3/h gas separation unit, and a 200,000 cubic meter ethane tank, along with other supporting facilities [1] Production Capacity - Upon completion, the project is expected to produce 323,000 tons of syngas, 1,840 tons of hydrogen, 413,240 tons of n-butyraldehyde, 236,000 tons of n-butanol, 90,000 tons of isobutyraldehyde, 150,000 tons of isooctanol, 205,300 tons of oxygen, 433,600 tons of nitrogen, 9,400 tons of liquid argon, and 400,000 tons of polypropylene annually [1]

Core Insights - The project marks the commencement of the construction of the largest land-based membrane LNG storage tank globally, located at the Guangdong Eastern LNG receiving station [1][2] - The project aims to enhance the LNG storage capacity in South China, filling a significant gap in large-scale membrane LNG storage facilities in the region [1] Group 1: Project Details - The project will involve the construction of three membrane LNG storage tanks, each with a diameter of nearly 100 meters and an effective volume of 240,000 cubic meters [1] - The new storage tanks will increase the total storage capacity of the Guangdong Eastern LNG receiving station to 780 million cubic meters, with an annual processing capacity of 6 million tons [2] Group 2: Technological and Economic Advancements - The project utilizes advanced membrane tank technology, achieving a 10% increase in effective tank capacity and a 5% reduction in construction costs compared to traditional full-containment tanks [1] - The core materials for the tanks will be fully sourced domestically, significantly improving land resource utilization and economic efficiency [1] Group 3: Environmental Impact - The steel usage for the inner wall protection system will be reduced by 90% compared to traditional tanks, leading to a reduction in overall carbon emissions by over 25% [1] - The design includes nitrogen protection and thermal insulation, ensuring stable cooling performance and significantly enhancing the reliability of the tanks throughout their lifecycle [1]

Core Insights - Canada is rapidly advancing its LPG export infrastructure, particularly to Asia, to overcome its historical lag behind the U.S. in this sector [1][2] - The U.S. LPG market is becoming saturated, making it crucial for Canada to maximize the value of its LPG products through Asian exports [1] - Canadian LPG exports from Ridley Island are yielding approximately $5 more per barrel compared to exports to the U.S. [1] Infrastructure Development - AltaGas and Wapahak are collaborating on the Ridley Island Energy Export Facility (REEF) project, with an initial investment of $970 million and a design capacity of 55,000 barrels per day, expected to be operational by the end of 2026 [2] - An "Optimization Phase One" plan is set to increase the terminal's capacity by an additional 25,000 barrels per day by mid-2027, while a "Phase Two Optimization" project is in the design and approval stage, aiming for a further increase of 60,000 barrels per day [2] - The Tri-Pacific Terminal Company is working with the Prince Rupert Port Authority on a project with an annual capacity of 2.5 million tons to further enhance the West Coast export capabilities [2] Export Trends - AltaGas is a major LPG exporter on Canada's West Coast, achieving an average daily export of 133,000 barrels through 23 Very Large Gas Carriers (VLGCs), primarily to Japan and South Korea [3] - The demand for propane from China's PDH facilities is shifting Canada's export focus towards China, with projected increases in daily exports of propane from 230,000 barrels in 2025 to 244,000 barrels in 2026, and butane from 78,000 barrels to 83,000 barrels [3] - The production bottleneck in Canada's core NGLs region, the Montney Basin, is being alleviated, with daily production expected to rise from 1.4 million barrels in 2019 to 1.6 million barrels by 2025 [3] Competitive Landscape - Canadian LPG exports face challenges, including pricing competition with U.S. Gulf Coast and Middle Eastern counterparts, as well as increased NGLs resource availability from the U.S. Permian Basin [4] - Overall, the industry anticipates that once all planned export facilities are completed, Canada will rank among the largest global LPG suppliers, leveraging its pricing, logistics, and capacity advantages to secure a significant position in the Asian LPG market [4]

Core Viewpoint - The company is implementing lean management principles across its production processes to enhance efficiency and value creation, focusing on optimizing production and resource utilization. Group 1: Production Efficiency - The company has achieved a historic daily production of liquid wax exceeding 860 tons, with a yield increase to over 36%, maintaining growth for two consecutive months [2] - A specialized task force was established to enhance production efficiency through targeted measures in raw material optimization, process control, and equipment maintenance [2] - The company has addressed bottlenecks in raw material supply by purchasing molecular sieve materials, effectively increasing the production capacity of high-efficiency products like aviation kerosene and liquid wax [2] Group 2: Equipment Optimization - The company has implemented refined management for five major production units, establishing a comprehensive control system to ensure optimal operational status [3] - Upgrades to the heating furnace have improved thermal efficiency to 93%, while also reducing nitrogen oxide emissions, achieving a balance between energy saving and emission reduction [3] - Operators have adopted a meticulous approach to operations, ensuring precise control of parameters to maintain optimal equipment performance [3] Group 3: Resource Utilization - The company has initiated a project to enhance the extraction of high-value carbon nine components from by-products, significantly improving resource utilization and economic benefits [4] - A specialized operational management mechanism has been established to monitor equipment performance and ensure stable recovery efficiency of carbon nine components [4] - The company has implemented multiple energy-saving and water-saving measures, achieving significant reductions in water consumption and improving resource utilization efficiency [5]

中化新网讯 近日，中原石油工程公司工程服务管理中心的研究成果"降低泥浆降温装置故障率"，斩获 河南省优秀QC成果一等奖。这是继2024年之后，该中心再度获得河南省优秀QC成果一等奖，彰显了其 在质量管理与技术创新领域的深厚积淀与领先地位。 泥浆降温装置是油田钻井作业中保障泥浆循环系统平稳运行的核心设备。长期以来，受复杂运行环境及 设备老化等因素影响，该装置故障频发，不仅推高了维护成本，更对生产进度造成延误。 对此，该中心西南青年号质量管理小组组建以青年技术骨干为核心的攻关团队，深入一线展开全面调 研，系统梳理了装置的故障类型、发生规律与根本成因。历时数月攻坚改造后，装置故障率由0.96%降 至0.32%，年均节约维修成本超过10万元，生产连续性与稳定性实现显著提升。 ...

Group 1: Oil Market Outlook - The international oil price is expected to continue the low trend of 2025 into 2026, with a significant oversupply projected at 3.84 million barrels per day according to the IEA [1] - Analysts believe that the severe oversupply in the oil market will not last long, with a gradual return to balance expected in the second half of 2026 to 2027 [2] - High oil prices may require significant supply disruptions or OPEC production cuts to rebalance the market, as the supply dynamics will dominate oil and gas price trends [2] Group 2: Refining Industry - Despite low oil prices, the refining sector is expected to maintain high operating rates in Europe and North America, with strong crack spreads, particularly for diesel [3] - The adjustment in global oil trade flows is anticipated to enhance diesel profits in Asia and the Middle East [3] Group 3: U.S. Shale Oil and M&A Trends - U.S. shale oil production is expected to remain resilient even with oil prices around $60 per barrel, as companies aim to maintain production levels [3] - The focus of M&A activity in the U.S. oil and gas sector is shifting towards natural gas, driven by rising LNG exports and increased electricity demand from AI developments [3] Group 4: Challenges for Oil Companies - Major oil companies and national oil companies are facing more severe strategic balance challenges in 2026 compared to 2025 due to low oil prices and oversupply [4] - Companies are preparing for a low oil price environment by reallocating capital back to upstream oil and gas sectors and increasing exploration efforts [4] - There is an expectation that companies will reduce stock buybacks and implement deeper structural cost cuts in response to the pressures of low oil prices [4]