2025清华大学"碳中和经济"论坛由清华大学、中国石化指导，清华大学经济管理学院、清华大学碳中和 研究院、国际CCUS技术创新合作组织与中国经济出版社共同主办。来自相关单位的400余人参加论 坛。论坛已连续举办5届，汇聚了清华大学和产业界的前沿研究和产业实践成果，致力于打造高水平交 流平台，为实现"双碳"目标贡献方案、智慧和力量。 清华大学校长李路明表示，推进碳达峰、碳中和是党中央作出的重大战略决策，是推动高质量发展的内 在要求。大学是教育、科技、人才天然的结合点，在服务"双碳"战略中承担重要责任。 论坛当天上午，2025"碳中和生态伙伴"计划开班。该计划是中国石化与清华大学共同探索的校企合作、 产教融合新路径，旨在搭建跨学科、跨领域交流平台。此次开班的研学计划将着力培养一批具有国际视 野、创新精神和实战能力的碳中和领域领军人才，为我国碳中和政策制定提供技术支撑，推动碳中和产 业链合作，促进绿色低碳产业发展。 转自：北京日报客户端 10月31日，2025清华大学"碳中和经济"论坛在北京举办。论坛以"新起点 碳未来"为主题，设有"碳未 来：共探产业机遇""新起点：创新破万卷"两个主题论坛，来自相关领域的知名专家 ...

Core Viewpoint - Oil stocks continue to rise, with PetroChina, CNOOC, and Sinopec showing significant gains following OPEC+'s announcement to pause production increases in Q1 of next year, marking the first halt since the supply cuts began in April [1] Group 1: Market Performance - As of the report, PetroChina (00857) increased by 2.9% to HKD 8.53, CNOOC (00883) rose by 1.56% to HKD 20.78, and Sinopec (00386) gained 1.19% to HKD 4.27 [1] Group 2: OPEC+ Announcement - OPEC+ announced plans to pause production increases in the first quarter of next year, which is the first time since the organization began restoring supply cuts in April [1] Group 3: Price Forecast Adjustments - Morgan Stanley raised its short-term forecast for crude oil prices, increasing the Brent crude futures price expectation for the first half of 2026 from USD 57.50 to USD 60 per barrel [1] Group 4: Company Performance and Outlook - According to a report from Lyon, PetroChina's Q3 performance indicates the company can deliver stable and resilient earnings amid oil market fluctuations [1] - The dividend outlook and stability for PetroChina are considered the best among its peers [1] - Lyon raised the target price for PetroChina's H-shares from HKD 8.6 to HKD 8.8 and for A-shares from CNY 11.9 to CNY 12, reiterating a "outperform" rating and identifying it as the top choice among the three major oil companies [1]

Core Insights - The three major Chinese oil companies, namely China National Petroleum Corporation (CNPC), China Petroleum & Chemical Corporation (Sinopec), and China National Offshore Oil Corporation (CNOOC), reported a decline in profits for the first three quarters of 2025 due to falling international oil prices, with a combined net profit of 258.25 billion yuan [1] - Despite the profit decline, these companies are actively expanding into renewable energy sectors while solidifying their core oil and gas businesses [1] Group 1: China National Petroleum Corporation (CNPC) - CNPC led in revenue and net profit among the three companies, achieving approximately 2.17 trillion yuan in revenue and a net profit of 126.29 billion yuan for the first three quarters [1] - In the third quarter, CNPC reported revenue of 719.16 billion yuan and a net profit of 42.29 billion yuan [1] - The company experienced stable growth in oil and gas production, with a total oil equivalent production of 1.377 billion barrels, a year-on-year increase of 2.6% [2] Group 2: China National Offshore Oil Corporation (CNOOC) - CNOOC's revenue for the first three quarters was 312.50 billion yuan, with a net profit of 101.97 billion yuan, reflecting a revenue increase of 5.68% in the third quarter but a net profit decrease of 12.16% [3][4] - The company achieved a net production of 578.3 million barrels of oil equivalent, a year-on-year increase of 6.7%, with natural gas production rising by 11.6% [3] - CNOOC maintained a competitive edge with a cost of $27.35 per barrel, a decrease of 2.8% year-on-year [3] Group 3: China Petroleum & Chemical Corporation (Sinopec) - Sinopec reported a revenue of 2.11 trillion yuan for the first three quarters, a decline of 10.7%, and a net profit of 29.98 billion yuan, down 32.2% [4][5] - The exploration and development segment was a highlight, generating an EBITDA of 38.09 billion yuan, making it the largest profit source for Sinopec [4] - The chemical segment faced significant losses, with an EBITDA loss of 8.22 billion yuan, primarily due to low product prices from increased domestic chemical production [5] Group 4: Strategic Initiatives - Sinopec plans to focus on stabilizing oil production, expanding gas, promoting hydrogen, increasing electricity, and enhancing non-oil business efficiency [6]

每经AI快讯，石油股继续走高，截至发稿，中石油(00857.HK)涨2.9%，报8.53港元；中海油(00883.HK) 涨1.56%，报20.78港元；中石化(00386.HK)涨1.19%，报4.27港元。 ...

Group 1 - Oil stocks continue to rise, with PetroChina (00857) up 2.9% to HKD 8.53, CNOOC (00883) up 1.56% to HKD 20.78, and Sinopec (00386) up 1.19% to HKD 4.27 [1] - OPEC+ announced plans to pause production increases in Q1 2024, marking the first halt since the organization began restoring supply cuts in April [1] - Morgan Stanley raised its short-term oil price forecast, increasing the Brent crude oil futures price expectation for H1 2026 from USD 57.50 to USD 60 per barrel [1] Group 2 - A report from Lyon indicates that PetroChina's Q3 performance demonstrates the company's ability to deliver stable and resilient earnings amid oil market fluctuations [1] - The dividend outlook and stability of PetroChina are considered the best among its peers [1] - Lyon raised the target price for PetroChina's H-shares from HKD 8.6 to HKD 8.8 and for A-shares from CNY 11.9 to CNY 12, reiterating an "outperform" rating and identifying it as the top pick among the three major oil companies [1]

港股三桶油继续上涨行情，其中，中国石油股份涨超3%创2008年4月以来新高价，中国海洋石油、中国 石油化工涨超1%，二者均刷新阶段新高。 | 代码 | 名称 | 最新价 涨跌幅 v | | --- | --- | --- | | 00857 | | 8.520 2.77% | | 00883 | 中国海洋石油 | 20.720 1.27% | | 00386 | 中国石油化工股 | 4.260 1.19% | 路透10月调查显示，由于欧佩克+产量目标的不断提高和需求不振抵消了供应方面的地缘政治风险，分 析师们对油价的预测基本保持不变。对36位经济学家和分析师进行的调查预测，2025年布伦特原油均价 为每桶67.99美元，比上个月的预估高出约38美分。 消息上，里昂发表报告指，中石油第三季业绩显示，公司可在油市波动下交出稳定及坚韧的盈利。中石 油股息展望及股息稳定性为同业中最佳。该行对中石油H股目标价由8.6港元上调至8.8港元，A股目标价 由11.9元上调至12元，重申"跑赢大市"评级，视为三桶油中首选。 ...

Core Insights - China Petrochemical Corporation (Sinopec) is accelerating the development of strategic emerging industries, focusing on clean energy and innovative technologies to transform its traditional energy and chemical operations into a more sustainable model [1][4]. Group 1: Strategic Emerging Industries - Strategic emerging industries represent the direction of a new round of technological revolution and industrial transformation, with significant emphasis on new-generation information technology, artificial intelligence, biotechnology, new energy, and new materials [1]. - Sinopec is actively cultivating and expanding these industries, transitioning from traditional chemical production to a model that integrates traditional and emerging sectors [1][4]. Group 2: Geothermal Energy Development - Sinopec's geothermal heating capacity has reached 12 million square meters, replacing approximately 2.3 million tons of standard coal annually and reducing carbon dioxide emissions by over 5.9 million tons [4]. - The company has successfully implemented deep geothermal exploration projects, enhancing its capabilities in geothermal heating and power generation [2][4]. Group 3: Hydrogen Energy Initiatives - Sinopec's hydrogen production capacity currently stands at 4.45 million tons per year, with ongoing projects in seawater hydrogen production and integrated wind-solar hydrogen production [11]. - The company aims to establish itself as China's leading hydrogen energy company, with plans to create a comprehensive hydrogen energy industry chain that includes production, infrastructure, and application scenarios [10][12]. Group 4: Technological Innovation - Sinopec is focusing on technological innovation as a core driver for both traditional industry upgrades and the growth of emerging sectors, particularly in high-end materials [6]. - The company has made significant advancements in carbon fiber technology, achieving breakthroughs in large tow carbon fiber production, which is crucial for various high-tech applications [7]. Group 5: Clean Energy Projects - The Xinjiang Kuqa green hydrogen demonstration project is China's first large-scale initiative utilizing photovoltaic power for hydrogen production, showcasing a complete process from solar energy generation to hydrogen storage and transportation [8][9]. - Sinopec is also expanding its clean energy portfolio with projects in wind, solar, and other renewable energy sources, contributing to a low-carbon industrial system [5][12].

深夜的压裂监测指挥室，屏幕蓝光映着科研人员的脸庞。当5000米深井中第一组裂缝的扩展动态实 时"直播"在屏上时，掌声打破凌晨寂静——这是中石化自主研发的首个分布式光纤实时监测系统"首 秀"，从此，深埋地下的油气藏开发动态有了"实时影像"。 这套体系让一根光纤实现"从一而终"：勘探时开展DAS-VSP，开发时追踪压裂裂缝与流体动态，投产 后监测返排和生产数据。相比过去的分段监测，不仅减少重复投入，项目周期缩短近20%，监测时效性 提升10%，在川渝、苏北等地10余口井应用时，被油田企业称为"新一代监测利器"。 此前的井下监测，更像"盲人摸象"：数据滞后几分钟甚至几小时，裂缝扩展位置误差达数十米，实时看 清5000米井下动态曾是奢望。这常导致压裂施工偏差、油藏开发决策失误，让勘探走了不少弯路。 团队"啃"下长水平井光纤精准布设、多物理场信号解耦等"硬骨头"，造出完全自主知识产权的井下"直 播"系统。如今，5000米深井的压裂过程如"看电视"般实时可见，裂缝扩展误差控制在米级内，数据延 迟缩至秒级，地下动态无所遁形。这项突破不仅让中石化井下监测精度跻身世界前列，更为智慧油田建 设提供"自主方案"。 从被动受限到自主 ...

第一是监管环境的变化。美国政府2020年通过《外国公司问责法案》，要求连续三年未通过美国公众公司 会计监督委员会(PCAOB)审计审查的外国公司将被强制退市。这一法案直接针对中国企业，使得它们面临 两难选择：要么违反中国相关法规，要么面临美国市场退市风险。 清晨，翻开财经新闻，一则消息让我心头一震：2025年4月9日，美国财政部长在接受媒体采访时明确表 示，"将中国公司从美国股市退市是一个开放的选项"。几天后，美国证券交易委员会主席Paul Atkins向美国 国会宣布准备对中国上市公司展开大规模"退市调查"，可能导致数百家中概股从美国证券交易所退市。 这则消息瞬间在全球资本市场掀起轩然大波。作为长期关注跨境投资的财经观察者，我第一时间联系了几 位华尔街的朋友了解情况。"这事儿可不小，"一位在纽约从事投资银行业务的老友告诉我，"市场已经开始 反应了，美股上的中企股价承压明显。" 为什么央企纷纷退出美股？这背后有何重大影响？美国资本市场是否会因此失去首位？带着这些问题，我 们来一探究竟。 央企从美股退出并非始于今日。早在2022年8月，中国石油、中国石化、中国人寿、中国铝业、上海石油化 工股份等多家公司就相继宣 ...

Market Overview - The A-share market experienced a rebound on November 3, with all three major indices turning positive in the afternoon. The Shanghai Composite Index rose by 0.55%, the Shenzhen Component increased by 0.19%, and the ChiNext Index gained 0.29%. The total trading volume in the Shanghai and Shenzhen markets was 21,329 billion yuan, a decrease of 2,169 billion yuan compared to the previous trading day. Over 3,500 stocks in the market saw gains [1]. Resource Stocks Performance - Resource stocks, including oil and coal, saw significant gains, with the "three major oil companies" (China National Petroleum, Sinopec, and CNOOC) all rising. China National Petroleum and China Petroleum both increased by over 4%, while Sinopec rose nearly 2%. China National Petroleum's A-shares and H-shares both reached new highs for the year, with a total market capitalization exceeding 1.7 trillion yuan. This surge was influenced by OPEC's announcement to maintain production levels, leading to a slight increase in international oil prices [2]. AI Application Sector - The AI application sector continued to show strong performance, particularly in the gaming and media industries. Stocks such as Shenzhou Information, 37 Interactive Entertainment, and Huayi Brothers reached their daily limit. The AI technology is being integrated into existing film and television production processes, with a notable increase in the production of animated dramas, which saw over 3,000 new releases in the first half of the year, reflecting a compound growth rate of 83% and a revenue increase of 12 times. The market size for this sector is expected to exceed 20 billion yuan this year [4]. Hainan Free Trade Zone - The Hainan Free Trade Zone concept saw a strong performance, with stocks like Hainan Development and Ronniu Mountain hitting their daily limit. The upcoming full island closure of the Hainan Free Trade Port on December 18 is expected to enhance external cooperation and open up broader development opportunities for the industry [4]. Future Market Outlook - Analysts predict that the A-share market may continue its slow upward trend due to multiple favorable factors, including clear policy guidance and the onset of a Federal Reserve rate cut cycle. The current market environment is seen as beneficial for A-shares, with a potential shift in investment focus towards sectors that have underperformed in the past ten months, such as coal, oil and gas, and public utilities [5].