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Industry Updates - The National Energy Administration projects that China's crude oil production is expected to reach 215 million tons by 2025, marking a historical high. During the 14th Five-Year Plan period, the country has added 105 million tons of new crude oil capacity, with offshore oil contributing over 60% of the new production for five consecutive years [2] - The first national-level continental shale oil demonstration zone in China, located in Xinjiang, has achieved an oil output of over 1.7 million tons this year, completing its construction tasks. The shale oil reservoir presents significant technical challenges due to its depth and low permeability [3] - The first intelligent autonomous control system for gas turbine power generation in China has been successfully put into operation, marking a transition to smart autonomous operation in thermal power generation [3] - Sichuan Province is soliciting opinions on the implementation details for green electricity direct connection projects, aiming for a self-consumption ratio of at least 60% of total available power generation by 2030 [4] - Jiangsu Province has completed its first batch of intelligent orderly charging pilot communities, enhancing the synergy between new energy vehicles and the new power system [4] Company News - The first gas turbine unit of the Sichuan Huadian Neijiang Gas Turbine Innovation Development Demonstration Project has officially commenced power generation, contributing to energy supply during the winter peak [7] - The East African Crude Oil Pipeline (EACOP) project, undertaken by a Chinese company, has completed 581 kilometers of mainline welding, reaching a completion rate of 96.5%, and is entering the final stages of construction [7] Market Performance - In November, the production of new energy passenger vehicles reached 1.757 million units, a year-on-year increase of 18.3%, with a cumulative production of 13.788 million units from January to November, reflecting a growth of 28.6% [5]