以下文章来源于创业板观察 ，作者肖良华 创业板观察 . 创业板观察致力于发布深交所创业板的市场发展、政策变化、监管导向、上市企业动态等的及时信息，提供有价值的市场资讯。 "硫磺价格涨太多了，上半年还觉得硫磺价格超过3000元/吨是不可能的，现在已经在4000元上方，硫磺变成了'牛磺'。" 国内某磷肥上市 公司相关负责人对财联社记者表示，每吨硫磺价格上涨100元，下游磷肥的成本相应增加50元，按照市场价格计算，现在磷肥的成本较去年 上半年增加了1500元/吨。"考虑到长协供应等因素，成本增加没那么夸张，但是依然压力很大。" 从去年下半年至今，硫磺价格一路上涨，开启一波汹涌澎湃的大牛市，并于今年10月份后加速上扬。 截至12月7日，硫磺价格超过4100 元/吨，是行情启动前的4倍。 而在分析人士看来，硫磺的这波行情并未迎来终章，一定时期内供需格局难以改善，硫磺的强势表现仍有望 持续。 从产业链来看，作为油气化工的副产品，产能增长受限，国内中石化及民营大炼化占比超70%。财联社记者以投资者身份致电，恒力石化 （600346.SH）证券部工作人员表示，公司当前硫磺产量比较稳定，价格上涨对公司业绩有一定促进作用，暂时没 ...

Investment Rating - The report maintains a "Positive" investment rating for the oil processing industry, consistent with the previous rating [1]. Core Insights - International oil prices experienced slight fluctuations due to geopolitical factors, with Brent and WTI prices reaching $63.75 and $60.08 per barrel, respectively, as of December 5, 2025 [2][9]. - The report highlights an increase in U.S. crude oil production to 13.815 million barrels per day, with active drilling rigs rising to 413 [40]. - The refining capacity utilization in the U.S. increased to 94.10%, indicating strong demand for crude oil processing [51]. - The report identifies key companies in the sector, including China National Offshore Oil Corporation (CNOOC), China Petroleum & Chemical Corporation (Sinopec), and China National Petroleum Corporation (PetroChina) [3]. Summary by Sections Oil Price Review - As of December 5, 2025, Brent crude futures settled at $63.75 per barrel, up $1.37 (+2.20%) from the previous week, while WTI crude futures rose to $60.08 per barrel, an increase of $1.53 (+2.61%) [26]. Offshore Drilling Services - The number of global offshore self-elevating drilling platforms increased to 368, with a net addition of 2 platforms, while floating drilling platforms rose to 130 [29]. Crude Oil Supply - U.S. crude oil production reached 13.815 million barrels per day, with a slight increase of 0.1 million barrels per day from the previous week [40]. Crude Oil Demand - U.S. refinery crude oil processing volume increased to 16.876 million barrels per day, with a utilization rate of 94.10% [51]. Crude Oil Inventory - As of November 28, 2025, total U.S. crude oil inventories stood at 839 million barrels, reflecting a weekly increase of 824,000 barrels (+0.10%) [60]. Refined Oil Prices - In the North American market, as of December 5, 2025, average prices for diesel, gasoline, and jet fuel were $97.93, $77.61, and $87.74 per barrel, respectively [82].

Core Viewpoint - The Shanghai Stock Exchange has actively promoted the "Quality Improvement, Efficiency Enhancement, and Return to Shareholders" initiative this year, with listed companies and major shareholders responding positively to regulatory calls through "increases in holdings and buybacks" to enhance investor returns and stabilize market expectations [1] Summary by Category Increase in Holdings - From January to November, 210 companies on the Shanghai Stock Exchange disclosed new increase plans, with a total planned increase amount of 649.84 billion, representing a 25.43% increase compared to 518.10 billion in the same period last year [1] - Among these, 177 companies on the main board disclosed new increase plans, with a total planned increase amount of 628 billion, a 27% increase from 493 billion in the previous year [1] - Notable companies with significant planned increases include China Yangtze Power (40 billion to 80 billion), China Petroleum (28 billion to 56 billion), and China National Offshore Oil Corporation (20 billion to 40 billion) [1] Share Buybacks - From January to November, 252 companies on the Shanghai Stock Exchange disclosed new buyback plans, with a total planned buyback amount of 671.67 billion [1] - On the main board, 163 companies disclosed new buyback plans, with a total planned buyback amount of 582 billion [1] - Major companies with substantial planned buybacks include Kweichow Moutai (15 billion to 30 billion), Sany Heavy Industry (10 billion to 20 billion), and Haier Smart Home (10 billion to 20 billion) [1]

Core Insights - PetroChina's operations in the Sichuan-Chongqing area show significant potential for increasing natural gas output and downstream gas utilization, enhancing earnings resilience amid potential oil price declines [1] - The company has substantial natural gas resources in the Sichuan Basin, with total resources of 52.93 trillion m³ and proven recoverable reserves of 4.92 trillion m³, indicating a low exploration ratio of 9.3% [2] - In 2024, PetroChina's Southwest Oil & Gas Field (SWOGF) achieved a total oil and gas output of 35.79 million tonnes, with natural gas output reaching 44.8 billion m³, a 9% year-on-year increase, contributing to 47% of PetroChina's gas output growth [3] Production and Investment Plans - SWOGF aims to increase annual natural gas output to 60 billion m³ and crude oil output to 0.6 million tonnes by 2030, with an expected ROI exceeding 15% for its oil and gas projects [3] - To accommodate the rising natural gas output, SWOGF plans to invest in gas-fired power plants through joint ventures, addressing the current low gas demand for power generation compared to the US [4] Financial Projections - The company has raised its dividend per share (DPS) forecasts by 7-9% for 2025-27, anticipating a stable DPS for 2025 and maintaining a payout ratio around 55% for 2026-27 due to strong expected free cash flow [4] - The target price for PetroChina's H shares has been increased from HK$8.83 to HK$9.62, while the target price for A shares has been raised from RMB10.16 to RMB10.92, based on a narrowing A-H premium [5]

这是12月4日在黑龙江省大庆市杜尔伯特蒙古族自治县境内大庆古龙陆相页岩油国家级示范区拍摄的古 页1号站（无人机照片）。 （来源：廊坊日报） 转自：廊坊日报 新华社记者 王松 摄 中国石油大庆油田12月5日发布消息，经过5年集中勘探开发，大庆古龙页岩油年产量已突破百万吨，实 现页岩油规模化效益开采。 ...

国家知识产权局信息显示，中国石油集团工程股份有限公司取得一项名为"一种压力容器焊接平台及方 法"的专利，授权公告号CN116140888B，申请日期为2021年11月。 天眼查资料显示，中国石油集团工程股份有限公司，成立于1999年，位于克拉玛依市，是一家以从事开 采专业及辅助性活动为主的企业。企业注册资本558314.7471万人民币。通过天眼查大数据分析，中国 石油集团工程股份有限公司共对外投资了6家企业，参与招投标项目302次，专利信息253条，此外企业 还拥有行政许可13个。 中国石油工程建设有限公司，成立于1981年，位于北京市，是一家以从事土木工程建筑业为主的企业。 企业注册资本240956.2万人民币。通过天眼查大数据分析，中国石油工程建设有限公司共对外投资了12 家企业，参与招投标项目5000次，财产线索方面有商标信息10条，专利信息1127条，此外企业还拥有行 政许可67个。 来源：市场资讯 中国石油天然气第一建设有限公司，成立于1984年，位于洛阳市，是一家以从事建筑装饰、装修和其他 建筑业为主的企业。企业注册资本50084.9984万人民币。通过天眼查大数据分析，中国石油天然气第一 建设 ...

End 延安纪检监察微信公众号1 2月5日消息， 中国石油长庆油田公司技术检测中心原主任李国 庆 涉嫌严重违纪违法，目前正接受中央纪委国家监委驻中国石油纪检监察组纪律审查和 陕西省延安市宝塔区监察委员会监察调查。 来源：延安纪检监察微信公众号 出品 | 中国能源报（c n e n e rg y） 责编丨李慧颖 欢迎分享给你的朋友！ ...

12月4日，来自巴布亚新几内亚一艘满载15万立方米液化天然气(LNG)的船舶靠泊江苏如东LNG接收 站，中控室内的操作员通过智能监控系统，密切关注着卸料、储存、气化外输等一系列关键作业的实时 数据与安全状态。据介绍，这是中石油江苏LNG接收站接卸的第818船。自冬供以来，中国石油所属 LNG接收站累计接卸LNG船舶20艘，单日气化外输量最高可达8400万立方米，气化能力创历史新高。 （国是直通车） ...

江苏常熟公司天然气门站工作人员介绍该站一批贴近实际需求的专利设备与小革新成果。张文晖 摄 12月4日，中新网记者在江苏常熟公司天然气门站看到，巡检机器人、PPM/PPB级激光燃气检测车、管 网哨兵等"黑科技"深度融入安检日常。据介绍，该门站主力气源来自于"北气南下"能源通道，覆盖8500 余家工商及居民用户，且与地方燃气公司互联互通，保障当地群众温暖过冬。 在数智加持下，中石油天然气销售公司密切关注天然气供需形势和气温变化，统筹协调"西气东输、川 气东送、海气登陆、北气南下"等能源通道，确保供需总体平衡。依托覆盖31省(区市)及香港特别行政 区的能源动脉网络，构建起连接3500余家合作伙伴、直供1685万户终端用户的庞大供应矩阵。 中新网南通12月6日电 (张文晖)12月4日，来自巴布亚新几内亚一艘满载15万立方米液化天然气(LNG)的 船舶靠泊江苏如东LNG接收站，中控室内的操作员通过智能监控系统，密切关注着卸料、储存、气化 外输等一系列关键作业的实时数据与安全状态。自冬供以来，中国石油所属LNG接收站累计接卸LNG 船舶20艘，单日气化外输量最高可达8400万立方米，气化能力创历史新高。 对于2025供暖 ...

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 来源：市场资讯 国家知识产权局信息显示，中国石油天然气股份有限公司取得一项名为"模拟开采页岩油的试验方法及 试验系统"的专利，授权公告号CN115639273B，申请日期为2021年7月。 天眼查资料显示，中国石油天然气股份有限公司，成立于1999年，位于北京市，是一家以从事石油和天 然气开采业为主的企业。企业注册资本18302097万人民币。通过天眼查大数据分析，中国石油天然气股 份有限公司共对外投资了1294家企业，参与招投标项目443次，财产线索方面有商标信息38条，专利信 息5000条，此外企业还拥有行政许可168个。 ...