原油价格略有回落，美乙烷出口有所改善 | 投研报告

Group 1 - The core focus of the report is on three significant developments in the basic chemical industry, including a collaboration agreement for Kazakhstan's first coal-to-gas project, the successful trial production of liquid methionine, and a U.S. Department of Commerce permit for ethane loading to China [1][2][4]. - The basic chemical industry is experiencing a market uplift, with external disturbances gradually easing, and solid-state battery developments gaining attention [2]. - The current valuation of the basic chemical sector shows a safety margin, with a historical PB percentile of 18% and a PE percentile of 69% since 2010 [2]. Group 2 - The liquid methionine project, a joint venture between New Hope Liuhe and Sinopec, has entered the trial production phase and has successfully produced qualified products [1][5]. - The U.S. Department of Commerce has issued a permit allowing Enterprise Products and Energy Transfer to load ethane onto vessels destined for China, but unloading at Chinese ports remains prohibited without further authorization [1][4]. - The oil industry has seen a reduction in tensions between Iran and Israel, leading to adjustments in crude oil prices [2].