Core Viewpoint - The article highlights the successful installation of a large underwater shield tunneling machine for the Yantai Port West LNG long-distance pipeline project, which is crucial for natural gas transportation in the Shandong and surrounding regions [1][2]. Group 1: Project Overview - The project includes several key components such as the starting shaft, receiving shaft, shield tunnel, and pipeline laying within the tunnel [2]. - The shield machine's installation is described as the most critical and challenging part of the project, with high risk involved [2]. Group 2: Technical Specifications - After assembly and debugging, the shield machine will excavate 1,749 meters underwater, navigating through complex geological conditions including medium sand, silty clay, silt, and gravel [2]. - The project team customized the shield machine with specialized soft soil cutter heads and a gradient distribution alloy tool combination, forming a "super hard dragon tooth matrix" for long-distance excavation in challenging terrains [2]. - Advanced systems such as a high-precision gas-liquid balance system, dual slurry synchronous injection system, and intelligent segment assembly system are integrated into the shield machine to adapt to varying construction environments and high technical standards [2]. Group 3: Strategic Importance - Upon completion, the tunnel will house a high-pressure pipeline with a diameter of 1.219 meters, essential for transporting natural gas from the LNG receiving station to the mainland [2]. - The project is significant for energy security, emergency reserves, and winter supply guarantees for Shandong, the Bohai Rim, and North China [2].

Core Viewpoint - The article highlights the efforts of China Petroleum Natural Gas Sales Shandong Company in promoting gas safety awareness during the 24th National Safety Production Month, focusing on community engagement and education to prevent gas-related accidents [1]. Group 1: Community Engagement - The company organized a series of safety promotion activities in various communities, emphasizing the importance of gas safety knowledge [1]. - Staff distributed safety manuals and provided detailed explanations on proper gas usage, leak detection, and emergency response measures [1]. - Special attention was given to elderly users, ensuring they understood the importance of regular checks on gas equipment [1]. Group 2: Rural Outreach - The company conducted outreach in rural areas, using local dialects to explain the dangers of gas leaks and preventive measures [4]. - Staff assisted villagers in checking gas facilities and provided guidance on safe usage practices [4]. - Efforts included cleaning around gas appliances to ensure a safe environment [4]. Group 3: School Initiatives - The company set up mobile promotion points near schools to engage parents and children in gas safety education [5]. - Fun and simple language was used to explain safety concepts to children, while parents received practical advice on gas appliance maintenance [5]. Group 4: Home Services - A "Safe Gas into Thousands of Homes" initiative was launched, offering free safety checks for gas facilities in households [6]. - Staff provided recommendations for any identified safety issues and distributed safety manuals with contact information for assistance [6]. Group 5: Corporate Training - For businesses with high gas usage, the company provided professional training and safety inspections [7]. - Detailed checks were conducted on gas facilities, with corrective actions suggested to enhance safety management [7]. - The company aims to continue and innovate its safety promotion efforts to ensure public safety and stability [7].

Core Viewpoint - The event organized by China Petroleum Natural Gas Sales Shandong Company aimed to enhance public safety awareness and emergency response capabilities through innovative and engaging safety education activities [1][2]. Group 1: Innovative Approaches - The event featured interactive segments where common household safety knowledge was turned into quiz questions, allowing participants to win practical gifts, thus attracting a large audience [2]. - The approach of combining education with entertainment effectively engaged the community, as evidenced by positive feedback from participants [2]. Group 2: Community Engagement - The safety consultation services were tailored to different demographics, focusing on gas safety for the elderly and using comic manuals and fun experiments for school children [3]. - A "warning board" was created to display real accident cases and data analysis, emphasizing the importance of safety and the consequences of negligence [3]. Group 3: Collaborative Efforts - The event involved collaboration with 18 local agencies, including emergency management and fire departments, creating a comprehensive safety promotion framework [6]. - Various practical demonstrations were conducted, such as fire extinguisher usage and first aid training, enhancing community skills in emergency situations [6]. Group 4: Event Outcomes - The event achieved significant outreach, with 8 promotional boards, 3 banners, over 500 brochures, and 800 safety flyers distributed, along with more than 1,500 consultations, marking a record high in participation [7]. - Future plans include ongoing safety drills and regular safety education initiatives to further embed safety awareness in the community [7].

Core Points - The company announced a cash dividend of RMB 0.25 per share for the fiscal year 2024, which includes tax [2][4] - The total cash dividend distribution amounts to RMB 45.76 billion, with RMB 40.48 billion allocated for A-shares [4] Distribution Plan - The dividend distribution plan was approved at the company's annual shareholders' meeting held on June 5, 2025 [2][3] - The total share capital used for the dividend calculation is 183,020,977,818 shares [4] Implementation Details - Cash dividends for A-share shareholders will be distributed through the China Securities Depository and Clearing Corporation Limited, Shanghai Branch [5] - Shareholders who have not completed designated trading will have their dividends held by the clearing company until the trading is completed [5] Taxation Information - Individual shareholders holding shares for over one year will be exempt from personal income tax on the dividends, while those holding for one year or less will have taxes calculated based on their holding period [6] - Qualified Foreign Institutional Investors (QFIIs) will have a 10% withholding tax applied to their dividends, resulting in a net dividend of RMB 0.225 per share [7] - Hong Kong investors will also face a 10% withholding tax, with provisions for tax treaty benefits available [8]

证券代码：601857 证券简称：中国石油 公告编号：临 2025-015 中国石油天然气股份有限公司 2024年年度权益分派实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利人民币0.25元（含税） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/24 | － | 2025/6/25 | 2025/6/25 | 差异化分红送转： 否 一、 通过分配方案的股东会届次和日期 本次利润分配方案经中国石油天然气股份有限公司（以下简称公司）2025 年 6 月 5 日的2024 年年度股东会审议通过。 二、 分配方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称中国结算上海分公司）登记在册的公司全体股东。 3. 分配方案： 本次利润分配以方案实 ...

中国发展网讯 记者施文郁报道 日前从辽河石化公司获悉，辽河石化成功实现特种油新产品——橡胶增 塑剂芳香基矿物油A1820的工业化生产，并完成首批产品的销售。据了解，辽河石化成为中国石油首家 实现该产品工业化生产的企业，填补了集团在该领域的技术空白。 作为生产绿色轮胎的核心添加剂，A1820的性能优劣直接关乎轮胎的加工性能及使用寿命。为加速推进 A1820的国产化替代进程，辽河石化瞄准特种油品市场主动出击，充分利用辽河低凝环烷基馏分油的原 料优势，将特种油品研发列为重点攻关方向，持续在培育新质生产力上下功夫。公司组建了特种油攻关 团队，通过集中优势资源，全力攻克关键技术难题。 辽河石化坚持以客户需求和价值需求为导向，深入开展市场调研和技术可行性分析，明确新产品的应用 前景和技术需求。经过多次试验，成功研制出性能远超国家标准及客户使用要求的产品，显著提升了企 业的自主创新能力。 新产品已通过权威机构SGS的检测以及北京橡胶工业研究设计院的评定， 环保指标满足欧盟REACH法 规要求，使用性能可媲美进口产品。此次技术突破，是辽河石化产品迈向高端化的关键一步，彰显了企 业以新质生产力推动"油转特"的决心与实力。此举既 ...

Group 1 - Morgan Stanley predicts that if regional conflicts escalate, oil prices could rise to $120 per barrel [1] - The bank's forecast for Brent crude oil futures in Q1 next year is set at $55 per barrel, excluding geopolitical risk premiums or significant oil supply disruptions [1] - The bank recommends increasing positions in high-quality Asian energy companies, specifically China National Petroleum Corporation (00857.HK), raising its H-share target price to HKD 8 due to breakthroughs in Xinjiang gas fields [1] Group 2 - The bank advises selling China Petroleum & Chemical Corporation (00386.HK), anticipating disappointing Q2 performance [1] - The most bearish outlook is on airline stocks, particularly Air China (00753.HK) and China Southern Airlines (01055.HK) [1] - For shipping companies, higher freight rates are expected to offset the negative impact of increased fuel costs, with a preference for Evergreen Marine and China COSCO Shipping Corporation (01919.HK) [1]

Core Viewpoint - Zhao Zengquan, a skilled technician at China National Petroleum Corporation, has made significant contributions to the oil and gas industry through innovation and technical expertise, earning him the title of "National Labor Model" from the All-China Federation of Trade Unions [1] Group 1: Professional Journey - Zhao Zengquan graduated from Daqing Oilfield Technical School in 1994 and began his career in the Bohai Bay oil fields, where he faced initial challenges but persevered through practical training and extensive note-taking [2] - In 2000, he successfully optimized the high-speed milling process for bridge plugs in Sudan, reducing the milling cycle from a traditional lengthy duration to just 6.8 hours, showcasing his problem-solving skills under pressure [2] Group 2: Technical Innovations - Zhao developed a unique throttle positioning system that allowed new operators to control throttle errors within 2 millimeters, saving the company 400,000 yuan annually in diesel costs [5] - He created a new anti-torque tool for wellhead operations, reducing drilling time from 20 hours to 8 hours, thus enhancing both safety and efficiency [5] - Zhao's innovations include a smart well operation system that decreased well control response time from 3 minutes to 0.5 seconds, significantly improving safety measures [5] Group 3: Knowledge Sharing and Mentorship - Zhao has dedicated himself to training the next generation of technicians, authoring a comprehensive training manual and establishing a three-dimensional training model that combines theory, practice, and innovation [7] - His efforts have resulted in the cultivation of 169 apprentices, with 85 becoming technical backbones in the industry, and the establishment of multiple sub-studios to further disseminate knowledge [7] - Zhao emphasizes the importance of passing on the spirit of craftsmanship and innovation within the oil industry, aiming to inspire future generations to tackle challenges with creativity [7]

Core Insights - Wind Thunder Drilling Tools Company has successfully entered the China National Petroleum Corporation (CNPC) 2025 centralized procurement project, ranking second overall, establishing itself as a core supplier within CNPC's supply chain [2] - This marks the second successful procurement entry for Wind Thunder Drilling Tools Company in 2023, following its first-place ranking in March for other drilling products, ensuring a stable revenue stream for the company [2] - The competitive bidding process for CNPC's procurement was rigorous, with Wind Thunder forming a dedicated project team to meet stringent evaluation standards, ultimately achieving a strong performance among hundreds of competitors [2] Industry Impact - The partnership with CNPC is expected to enhance Wind Thunder's production capacity utilization and reduce marginal costs, while also accelerating technological advancements and innovation in high-end drilling tools [3] - The demonstration effect of CNPC's supply chain is anticipated to significantly boost Wind Thunder's brand presence in both domestic and international markets, laying a solid foundation for future expansion into other energy giants' supply chains [3] - This collaboration is expected to further solidify Wind Thunder's leading position in the domestic drilling tools market [3]

Investment Rating - The report maintains a "Buy" rating for the company, with a market price of RMB 8.88 and a sector rating of "Outperform" [2][5]. Core Views - The report highlights the deep integration of oil and gas with new energy, enhancing the company's sustainable development capabilities. It emphasizes the acceleration of CCUS (Carbon Capture, Utilization, and Storage) projects in Xinjiang Oilfield, aiming for a carbon injection target of 1 million tons by 2025 and 10 million tons by 2030 [4][5][10]. - The company is expected to achieve significant growth in oil and gas production, with shale oil projects exceeding 1 million tons in 2024. The focus is on clean energy alternatives and strategic transitions towards green development [4][5][10]. Financial Summary - The projected net profit for 2025-2027 is RMB 167.96 billion, RMB 169.23 billion, and RMB 179.88 billion, respectively, with corresponding P/E ratios of 9.7x, 9.6x, and 9.0x [7][9]. - The main revenue for 2025 is estimated at RMB 2,951.03 billion, with a slight growth rate of 0.4%. EBITDA is projected at RMB 328.76 billion, with a net profit growth rate of 2.0% [9][11]. - The company plans to maintain high capital expenditures in oil and gas projects, with an estimated capital expenditure of RMB 210 billion for 2025, focusing on unconventional resources and clean energy initiatives [10][11].