Core Insights - China National Petroleum Corporation (CNPC) has obtained a patent for a seismic inversion method and system based on Lagrangian operator dynamic changes, with the authorization announcement number CN114355439B and application date in October 2020 [1] Company Overview - CNPC was established in 1999 and is headquartered in Beijing, primarily engaged in oil and natural gas extraction [1] - The company has a registered capital of 18,302,097,000 RMB [1] - CNPC has invested in 1,293 enterprises and participated in 443 bidding projects [1] - The company holds 38 trademark registrations and 5,000 patent records, along with 168 administrative licenses [1]

Group 1 - The State Intellectual Property Office of China has granted a patent for a "continuous rotary sliding drilling method" to China National Petroleum Corporation and China Petroleum Group Chuanqing Drilling Engineering Company [1] - China National Petroleum Corporation, established in 1990, is primarily engaged in oil and gas extraction, with a registered capital of 48.69 billion RMB [1] - The company has invested in 111 enterprises, participated in 5,000 bidding projects, and holds 1,446 trademark records and 5,000 patent records [1] - China Petroleum Group Chuanqing Drilling Engineering Company, founded in 2008, also focuses on oil and gas extraction, with a registered capital of 1.16 billion RMB [1] - This company has invested in 12 enterprises, participated in 3,902 bidding projects, and holds 4,273 patent records [1]

Core Insights - China National Petroleum Corporation (CNPC) and China Petroleum Group Chuanqing Drilling Engineering Company have obtained a patent for "Drilling Fluid Filtration Performance Evaluation Device, Testing Method, and Mud Cake Preparation Method" with authorization announcement number CN115290532B, applied for on August 2022 [1] Company Overview - CNPC was established in 1990 and is headquartered in Beijing, primarily engaged in oil and gas extraction. The company has a registered capital of 48.69 billion RMB [1] - CNPC has invested in 111 companies, participated in 5,000 bidding projects, holds 1,446 trademark records, and has 5,000 patent records, along with 28 administrative licenses [1] - China Petroleum Group Chuanqing Drilling Engineering Company was founded in 2008 and is located in Chengdu, focusing on oil and gas extraction. The company has a registered capital of 1.16 billion RMB [1] - Chuanqing Drilling has invested in 12 companies, participated in 3,902 bidding projects, holds 4,273 patent records, and has 32 administrative licenses [1]

Core Insights - The Tarim Oilfield has successfully drilled 27 ultra-deep gas wells this year, resulting in the establishment of over 2 billion cubic meters of new natural gas production capacity, contributing to China's energy security [1][5] - The Kela 2 gas field, located in the southern Tianshan Mountains, is now producing 38 million cubic meters of natural gas daily, making it China's largest ultra-deep gas field [1][3] - The new wells have cumulatively increased gas output by 1.3 billion cubic meters, with an average daily production of over 300,000 cubic meters per well from approximately 130 wells [3][5] Production and Capacity - The Tarim Oilfield is accelerating its efforts to explore ultra-deep layers, having added proven natural gas reserves of 100 billion cubic meters in the southern Tianshan ultra-deep strata [5] - The company is enhancing its production, transportation, storage, and sales system to deliver natural gas to over 120 large and medium-sized cities, benefiting around 400 million people [5] - Currently, there are 52 ultra-deep wells being drilled, with 13 already reaching oil and gas layers, and the peak daily gas supply is expected to exceed 96 million cubic meters this winter and spring [7]

Core Viewpoint - The Tarim Oilfield has successfully drilled 27 ultra-deep gas wells this year, significantly contributing to China's energy security by adding over 2 billion cubic meters of new natural gas production capacity [1] Group 1 - The Tarim Oilfield is leading in the technology of drilling at depths of 10,000 meters [1] - The high-yield gas flows from the newly drilled wells demonstrate the effectiveness of the ultra-deep drilling technology [1] - The new natural gas production capacity is a crucial addition to ensure energy security in China [1]

Core Points - The company announced a total of 13 guarantees amounting to approximately 30.11 million RMB in October 2025 [1] - The company and its subsidiaries have an approved guarantee limit of up to 51.126 billion RMB for the year 2025, effective from January 1 to December 31, 2025 [2] - The guarantees provided include 50.301 billion RMB for subsidiaries with a debt-to-asset ratio above 70% and 0.825 billion RMB for those below [4] - The total guarantee amount from January to October 2025 is approximately 3.991 billion RMB, with bank credit guarantees accounting for about 2.253 billion RMB and performance guarantees for about 1.738 billion RMB [6] Guarantee Details - The company has completed the approval process for the guarantees in October 2025 within the previously set limits [3] - The guarantees are aimed at enhancing the company's competitive edge in market development and project contracting, aligning with the interests of all shareholders [6] - As of October 31, 2025, the total guarantee balance is approximately 44.887 billion RMB, representing 169.31% of the company's audited net assets as of December 31, 2024 [6]

Core Points - China Petroleum & Chemical Corporation (Sinopec) has been actively repurchasing its shares, with a total of 9.25 million shares bought back on November 28 at a price range of HKD 4.400 to HKD 4.480, amounting to HKD 40.99 million [1] - The stock closed at HKD 4.410 on the same day, reflecting a decline of 1.34%, with a total trading volume of HKD 394 million [1] - Since October 30, the company has conducted share repurchases for 22 consecutive days, totaling 114 million shares and a cumulative repurchase amount of HKD 500 million, during which the stock price increased by 4.50% [1] Repurchase Summary - Year-to-date, Sinopec has executed 55 repurchase transactions, acquiring a total of 336 million shares for a total amount of HKD 1.566 billion [1] - Detailed repurchase data shows the highest repurchase price reached HKD 4.640 and the lowest at HKD 4.100 during the recent transactions [1][2] - The repurchase activity indicates a strategic move by the company to support its stock price and enhance shareholder value [1]

Group 1 - The company has nominated Mr. Li Wei as an independent non-executive director for the ninth board of directors of Sinopec (600028) [1] - The board secretary is authorized to handle all necessary applications, approvals, registrations, and filings related to the election of the independent director [1]

Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) has nominated Mr. Li Wei as an independent non-executive director for its ninth board of directors and has authorized the board secretary to handle all necessary applications, approvals, registrations, and filings related to the election of independent directors [1] Group 1 - The nomination of Mr. Li Wei is a significant step in the governance structure of Sinopec [1] - The company is taking proactive measures to ensure compliance with regulatory requirements regarding the election of independent directors [1]

Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) announced a share buyback plan, indicating confidence in its stock value and commitment to returning capital to shareholders [1] Summary by Categories Company Actions - The company plans to repurchase 9.25 million shares at a total cost of HKD 40.9914 million [1] - The buyback price per share is set between HKD 4.4 and HKD 4.48 [1] Financial Implications - The total expenditure for the share buyback reflects a strategic move to enhance shareholder value [1]