Mei Ri Jing Ji Xin Wen·2026-01-08 14:24Group 1 - The core point of the news is the restructuring of China Petroleum & Chemical Corporation (Sinopec) and China Aviation Oil Group, which aims to create an integrated supply chain from refining to aviation, enhancing supply stability and efficiency in the oil and gas industry [2][3] - Sinopec is the largest supplier of refined oil and petrochemical products in China, and the world's largest refining company, while China Aviation Oil Group is the largest aviation fuel supplier in Asia, providing services to 258 transportation airports and 454 general airports in China [2] - The restructuring is expected to reduce intermediate trade and coordination costs, potentially alleviating the financial pressure on airlines, as aviation fuel accounts for about one-third of airline costs [3] Group 2 - The integration will enhance the resilience and response speed of the supply chain, addressing challenges such as extreme weather and geopolitical conflicts, thereby supporting the safe operation of the civil aviation system [3] - The move is also seen as a way to optimize state-owned capital layout, avoid homogeneous competition, and create a modern energy enterprise that can compete with international giants like Shell and BP, thereby increasing global market share and pricing power [3] - Sinopec has been actively developing sustainable aviation fuel (SAF) opportunities, having established China's first large-scale industrial facility for bio-jet fuel production, which has already been utilized in domestic and international flights [4][5]