中国青年报客户端讯（中青报·中青网见习记者 刘佳佳 记者 魏婉）5月26日，"强国总师思政课"第三期 活动在中国石油大学（北京）举办，中国工程院院士、中国石化总地质师、中国石化石油勘探开发研究 院院长郭旭升以"向深而行 为国争气"为题，向在场学子授课。 为丰富思政课内容，促进大学生了解国情社情，助力高校实习实践活动，国务院国资委宣传工作局、国 务院国资委新闻中心和中国青年报社联合相关单位共同组织了"强国总师思政课"主题活动。活动邀请各 领域顶尖专家、学者走进高校，为学生们讲述国家重大工程科技创新背后的故事，传递爱国情怀、创新 精神和社会责任感。 据了解，接下来，"强国总师思政课"还将邀请高校师生和青年代表深入超级工程、企业一线，开展"一 日总师体验卡"等实践活动，利用报、网、微、端、抖等媒体矩阵，组织开展"一线青年说"等活动，让 一线学子的声音被听见、力量被看见，让思政教育更加贴近青年，服务青年。 来源：中国青年报客户端 中国工程院院士、中国石化总地质师、中国石化石油勘探开发研究院院长郭旭升以"向深而行 为国争 气"为题，向在场学子授课。主办方供图 郭旭升开篇点明了进军地球深部的意义，阐述了深地资源开发在国家 ...

Group 1 - Ningde Times has recently listed on the Hong Kong Stock Exchange, with China Petroleum & Chemical Corporation playing a significant role as a cornerstone investor, subscribing to shares worth $500 million [1] - The involvement of industrial capital in private equity investment markets is seen as a major force, with a reported 41% year-on-year increase in contributions from industrial investors as limited partners (LPs) in Q1 2025 [1][2] - Corporate Venture Capital (CVC) funds are emerging as a crucial avenue for companies to explore a "second growth curve," aiding in asset revitalization and strengthening industrial chains [1] Group 2 - Wan Kai New Materials announced a partnership with Cheng Kai Fund to establish an investment partnership focused on new materials and intelligent manufacturing, with Wan Kai contributing 250 million yuan [1] - Allianz Ruishi plans to collaborate with a state-owned enterprise in Hangzhou to set up a partnership targeting industries such as artificial intelligence, new energy, and smart manufacturing [1] - CVC funds are gaining traction among traditional industry companies, providing direct technical support and attracting talent, thus reducing trial costs and financial risks while enhancing investment returns [2] Group 3 - Various regions, including Shanghai, Zhejiang, Shanxi, and Hubei, are implementing policies to support the development of CVC funds, with some government investment funds prioritizing those with industrial backgrounds [3] - The Suzhou Angel Fund emphasizes investing in sub-funds with industry experience, highlighting a sub-fund backed by a robotics unicorn [3] - Investment strategies focusing on early, small, long-term, and hard technology investments are believed to significantly lower risks by leveraging industry advantages for better project evaluation [3]

Investment Rating - The report maintains an "Accumulate" rating for the oil and petrochemical industry [5] Core Viewpoints - The oil price is expected to rebound due to improved supply-demand outlook, with IEA and EIA raising global oil demand forecasts for 2025 [1][10] - The "Three Major Oil Companies" are significantly increasing capital expenditures to enhance oil and gas production, ensuring national energy security [2][18] - The transition to renewable energy is being accelerated by the "Three Major Oil Companies," highlighting their long-term investment value [3][18] Summary by Sections Oil Price Outlook - Supply-demand expectations have improved, leading to a rebound in oil prices. As of May 23, 2025, Brent and WTI crude oil prices were reported at $65.03 and $61.76 per barrel, respectively [9][10] - IEA has raised its 2025 global oil demand forecast by 10000 barrels per day to 740000 barrels per day, while EIA expects a growth of 970000 barrels per day, an increase of 170000 barrels from the previous month [10][14] Capital Expenditure and Production Growth - The "Three Major Oil Companies" are responding to the national call for increased reserves and production, with a combined capital expenditure CAGR of 6.6% from 2018 to 2024. For 2025, their planned capital expenditures are CNY 210 billion for China National Petroleum Corporation, CNY 76.7 billion for China Petroleum & Chemical Corporation, and CNY 130 billion for China National Offshore Oil Corporation [2][18] - Oil and gas equivalent production for 2024 is expected to grow by 2.2% for both China National Petroleum Corporation and China Petroleum & Chemical Corporation, and by 7.2% for China National Offshore Oil Corporation [2][18] Renewable Energy Transition - The "Three Major Oil Companies" are advancing their renewable energy initiatives. China National Petroleum Corporation aims for natural gas to account for 54.4% of its oil and gas equivalent production by 2024, with significant investments in wind and hydrogen energy [3][24] - China Petroleum & Chemical Corporation is expanding its charging and hydrogen refueling infrastructure, targeting the construction of at least 500 battery swap stations this year [3][28] - China National Offshore Oil Corporation is actively developing CCUS projects, with the first offshore CCUS project launched in May 2025, expected to inject over 1 million tons of CO2 over the next decade [3][32]

Core Insights - The 29th World Gas Conference, referred to as the "Olympic Games of the global gas industry," was held in Beijing, marking the first time the event has taken place in China since its inception in 1931 [1] - The conference gathered over 3,000 participants from more than 70 countries to discuss energy security and green transition [1] Industry Overview - Natural gas is the third-largest energy source globally, with an annual consumption exceeding 4 trillion cubic meters, accounting for 24% of the energy structure, and is crucial for achieving low-carbon energy transition [2] - Over the past decade, China's increase in natural gas consumption has represented one-third of global growth, positioning the country as a key driver in the global gas market [2] - China's 14th Five-Year Plan aims for natural gas production to exceed 230 billion cubic meters by 2025, with accelerated construction of storage facilities and pipelines to enhance energy security [2] LNG Market Dynamics - The International Gas Union (IGU) reported a 2.4% year-on-year increase in global LNG trade volume for 2024, indicating resilience in the industry [3] - LNG is expected to play a significant role in alternative fuels for shipping, carbon capture utilization and storage (CCUS), and methane emission reduction, as the industry transitions from traditional high-carbon energy to green clean energy [3] Energy Transition Strategies - A consensus emerged at the conference advocating for a comprehensive energy transition path that balances renewable energy with the utilization of multiple energy sources to ensure stability, affordability, and sustainability [4] - Experts emphasized that a diversified energy approach, incorporating natural gas, is more beneficial for energy security compared to a singular reliance on renewable sources [4] - The Asian Infrastructure Investment Bank's president highlighted the importance of clean, just, and sustainable energy investment principles to address the core issues faced by developing countries [4] Technological Innovations - The oil and gas pipeline industry is undergoing a dual mission of achieving safe, green development and intelligent upgrades, with technological innovation being a key driver for sustainable industry growth [5] - The National Pipeline Group's development of a large-scale online simulation system for long-distance natural gas pipelines addresses technical challenges and supports intelligent pipeline construction and energy transition [6] - Natural gas is seen as both a means to ensure energy security and a platform for fostering low-carbon technologies, emphasizing the need for a balanced approach in energy transition [6]

Macro Dynamics - The People's Bank of China and the State Administration of Foreign Exchange have drafted a notice to improve and unify the management of cross-border funds for domestic companies listed overseas, enhancing the convenience of cross-border financing for domestic enterprises [1] - The notice allows for the return of funds raised from overseas listings in either foreign currency or RMB, with flexibility in foreign exchange risk management [1] Foreign Investment - In the first four months of 2025, China established 18,832 new foreign-invested enterprises, a year-on-year increase of 12.1%, while the actual use of foreign capital amounted to 320.78 billion RMB, a decrease of 10.9% [2] - The manufacturing sector attracted 84.06 billion RMB, and the service sector attracted 231.25 billion RMB in foreign investment [2] - High-tech industries saw a significant increase in foreign investment, with e-commerce services up 137%, aerospace manufacturing up 86.2%, and pharmaceutical manufacturing up 57.8% [2] Financial Institutions - Nomura Holdings reported that the total compensation for its seven executives reached 4.6 billion JPY (approximately 320 million USD), marking a 3% increase from the previous year and the highest level in over a decade [6] - The company achieved a record profit of 340.7 billion JPY, benefiting from a rebound in global securities trading and improved cost control [6] Company Dynamics - Sinopec has invested in CATL as a cornerstone investor during its IPO on the Hong Kong Stock Exchange, aiming to promote the construction of new battery swap station infrastructure [11] - Jinhua Co., Ltd.'s chairman is under investigation for alleged violations related to stock disclosure, but this will not affect the company's daily operations [12] - Spring Airlines plans to launch a new route from Shanghai to Hanoi, Vietnam, starting July 2, 2025, with plans to expand its Southeast Asia route network based on market demand [13] - Apple has announced a trade-in program for new iPhones, offering additional discounts ranging from 50 to 400 RMB for customers trading in older models [14]

Core Viewpoint - The "Three Oil Giants" (China National Petroleum Corporation, China Petroleum & Chemical Corporation, China National Offshore Oil Corporation) are expected to steadily increase their oil and gas production in response to national calls for "increasing reserves and production" amid ongoing geopolitical uncertainties [2][3]. Group 1: Oil and Gas Production - In Q1 2025, the oil and gas equivalent production of the "Three Oil Giants" is projected to grow, with China National Petroleum Corporation, China Petroleum & Chemical Corporation, and China National Offshore Oil Corporation showing year-on-year increases of 0.7%, 1.7%, and 4.8% respectively [2]. - The upstream capital expenditure plans for 2025 are set at 210 billion, 76.7 billion, and 130 billion yuan for China National Petroleum Corporation, China Petroleum & Chemical Corporation, and China National Offshore Oil Corporation respectively, with expected production growth rates of 1.6%, 1.3%, and 5.9% [2]. Group 2: Transition to Renewable Energy - The "Three Oil Giants" are actively advancing their green and low-carbon transformation, with China National Petroleum Corporation aiming for natural gas to account for over 50% of its total production by 2024 [3]. - China National Petroleum Corporation has established over 10 million kilowatts of wind and solar power generation capacity and aims for a hydrogen production capacity of 8,100 tons per year, reflecting a 23% year-on-year increase [3]. - China Petroleum & Chemical Corporation is collaborating with CATL to build a nationwide battery swap network, targeting the construction of at least 500 battery swap stations this year and a total of 10,000 in the future [3]. - China National Offshore Oil Corporation is advancing its CCUS projects, with the first offshore CCUS project in operation, expected to inject over 1 million tons of CO2 over the next decade [3]. Group 3: Oilfield Services Sector - The global upstream capital expenditure is expected to rebound in 2025, projected to exceed 582.4 billion dollars, marking a 5% year-on-year increase, which will benefit the oilfield services sector [4]. - The performance of oilfield service companies under the "Three Oil Giants" is improving, with China National Offshore Oil Corporation's subsidiaries reporting net profits of 0.887 billion, 0.541 billion, and 0.594 billion yuan, reflecting year-on-year growth of 40%, 14%, and 18% respectively [4].

Core Viewpoint - Sinopec and CATL are expanding their collaboration in various fields, including microgrids and battery materials, with a focus on building a significant number of battery swap stations [1] Group 1: Partnership Development - Sinopec and CATL have officially signed their first heavy-duty truck battery swap station project in Fujian, marking a substantial step in their collaboration [1] - The companies plan to jointly build 10,000 battery swap stations as part of their strategic partnership [1] Group 2: Future Collaboration Areas - Sinopec aims to deepen its long-term strategic cooperation with CATL, focusing on battery swapping, zero-carbon initiatives, microgrids, vehicle ecosystems, and battery materials [1] - The partnership will also explore multi-level capital operations and equity joint ventures to create a second growth curve for both companies [1]

Group 1 - BP Singapore and Sinopec Fuel Oil Company held a strategic cooperation seminar from May 19 to 21, 2025, and signed a new round of strategic cooperation agreement [1][2] - The partnership between BP Singapore and Sinopec Fuel Oil Company began in 2011, leading to the establishment of the BP SINOPEC joint venture in 2015, which has since developed a comprehensive service network in the ship supply oil business [1][2] - The new strategic cooperation agreement aims to enhance core competitiveness by leveraging complementary resources, technology, and market advantages, marking a significant milestone in their collaboration [2] Group 2 - Future cooperation will focus on global ship supply oil business, emphasizing core areas such as resources, storage, logistics, and sales, while also addressing digital development and low-carbon transformation [4] - The partnership aims to respond to the complex international competitive landscape and fully explore the value of the industrial chain to create lasting core competitiveness [4]

Group 1 - The core viewpoint of the articles highlights the strategic partnership between Sinopec and CATL, focusing on the establishment of a nationwide battery swap station network to enhance energy services for new energy vehicle owners [1][2] - Sinopec has committed to investing in CATL as a cornerstone investor following the signing of a framework agreement, which aims to promote the construction of new infrastructure for battery swapping [1] - The partnership aims to build at least 500 battery swap stations this year, with a long-term goal of constructing 10,000 stations, thereby exploring the synergy between new energy and traditional energy [1][2] Group 2 - The first battery swap station project, utilizing CATL's latest battery swap system, was signed on May 21 in Fujian, marking a significant step in the collaboration [1] - Sinopec has established 30,000 comprehensive energy supply stations, serving over 300 million users, with an average of 20 million daily customer interactions [2] - The collaboration will expand into areas such as zero-carbon initiatives, microgrids, and battery materials, aiming to create a comprehensive service ecosystem for vehicles and lifestyles [2]

5月21日，双方合作的首个重卡骐骥换电站项目在福建正式签约，双方今年将建设不少于500座换电 站，未来共同致力于建设10000座换电站目标。下一步，中国石化与宁德时代将在换电、零碳、微 电网、车生态、电池材料等领域继续拓展合作空间。 中国石化方面披露，宁德时代5月20日登陆港交所，中国石化作为全球最大基石投资者领投入股。本 次出资是双方此前签署的《产业和资本合作框架协议》宣布"万站换电、人民基建"后又一重要资本 运作举措，将助力双方携手推动我国换电站新型基础设施建设。 ...