在美国深陷关税战之际，中国趁低价狂囤2.5亿桶原油，4月进口量更是创18个月新高。中国这是在为什 么做准备？ 关税战开打之后，西方媒体不禁跌破眼镜：原以为中国的石油需求会稍微消退，谁料到居然大逆转！ 【西方媒体发现，2.5亿桶石油正运往中国】 【特朗普向全世界打响关税战】 更值得一提的是，中国的一些炼油厂甚至推迟了年度保养计划，就是为了趁着利润率高，猛造汽油、航 空燃油这些热门产品。看来，这真是个大家都想挤上去分享蛋糕的好时机。 当然，还有一个非经济因素，地缘政治的风卷云涌。中国和石油输出国关系良好，不把俄罗斯、伊朗、 委内瑞拉等国拒之门外。这些国家面临西方制裁，急需市场，于是降低油价，用薄利多销的策略维持出 口。 据说，俄罗斯的乌拉尔原油价格，就比国际油价便宜个10美元左右。这种情况下，中国企业能不动心 吗？ 不过，事情也没这么简单。中国还在利用这一机会扩充能源储备。因为有分析认为，未来美国或许会打 美元霸权的牌，影响中国的能源进口。 今年4月，中国原油日均进口量飙升至约1100万桶，比1月份增加了近200万桶，刷新18个月来的新纪 录。粗略一算，这相当于至少2.5亿桶石油入库。这到底咋回事？ 首先，我们得 ...

【环球时报驻西班牙特约记者 王方 环球时报记者 李迅典 陈欣】编者的话：西班牙和葡萄牙4月28日遭 遇大规模停电后，事件的调查结果至今仍未公布。一些媒体将停电原因指向西班牙对可再生能源的依 赖，不过西班牙政府和相关专家否定了这一说法。西班牙《国家报》《世界报》等媒体分析认为，为保 证能源的安全性和可靠性，相关机构应继续投资电网基础设施并创新运营方式。这一"黑天鹅"事件也引 发一些国家的担忧，如美国官员5月3日警告称，今年夏天美国可能面临大规模停电。 大停电前已发生三起事故 西班牙和葡萄牙上周经历了一场前所未有的大规模停电，导致两国交通瘫痪、医疗系统告急、社会几近 停摆。 据西班牙《国家报》5月5日报道，初步调查显示，在大停电发生前，西班牙的电力系统已经经历了3起 断电事故，第三起事故发生在大停电前19秒。 西班牙电网公司官员发布的信息表明，尽管系统成功控制了第二起断电事故，但未能阻止第三起事故的 发生，最终导致整个伊比利亚半岛停电。在一些地方，停电持续了10多个小时。信用评级机构 Morningstar DBRS估计，这次停电给西班牙带来的保险损失可能在1亿至3亿欧元之间，其中超市因冷链 中断而损失的金额就高 ...

长期以来,中国对世界粮 食、能源安全作出重要贡献。今 年,中方同印度尼西亚、塞尔维 亚等六个伙伴国一道发起"构建 稳定和富有韧性的产业链供应链 国际合作倡议"，同多个国家— 道倡导建立全球清洁能源合作伙 伴关系,并在二十国集团提出国 际粮食安全合作倡议。我们期待 同各方深化合作。 （来源：中国电力报） 习 近 平 关于国家能源安全重要论述 (合計) ...

以下文章来源于智谷趋势Trend ，作者无疆 智谷趋势Trend . 新中产的首席财富顾问 将投中网设为"星标⭐"，第一时间收获最新推送 不只中国，其他大国也在迅猛上马核电站。 作者丨 无疆 编辑丨 王战新 来源丨 智谷趋势Trend 基建狂魔，上演惊天大逆转。 4月27日，经国务院常务会议审议，决定核准浙江三门、广西防城港、广东台山、山东海阳、福建霞 浦等 5个核电项目、10台机组 ， 总投资超过2000亿。 一次性核准10台核电机组，力度相当猛，不禁让人想起去年8月出台的一份顶层文件《中共中央 国 务院关于加快经济社会发展全面绿色转型的意见》。 文件中，出现这样一段非常罕见的表述： " 加快 西北风电 光伏 、西南水电、海上风电、 沿海核电等清洁能源基地建设 ……到2030年，非 化石能源 消费比重提高到25%左右。" 要知道，这可是2011年日本福岛核电事故后，中国 首次 在最高规格的官方文件中明确使用 "加快" 一词来指导核电项目发展。 此前的文件在谈到核能时，一定会"戴上紧箍咒"，强调"安全第一"。如：在确保安全的前提下积极 有序发展核电；安全稳妥推动沿海核电建设等…… 其实，不只中国，其他大国也在 ...

Financial Data and Key Metrics Changes - First quarter revenue was $682 million, up 13% year over year, with growth in both segments [23] - Adjusted EBITDA was $130 million, also up 13% year over year, driven by robust growth in government operations [23] - Adjusted earnings per share increased to $0.91, a 20% rise compared to $0.76 last year [24] - Free cash flow for the quarter was $17 million, with capital expenditures at $33 million, or 4.9% of sales [26] Business Line Data and Key Metrics Changes - Government operations revenue grew by 14%, with adjusted EBITDA reaching $117 million and a margin of 21.1% [27] - Commercial operations revenue was $128 million, up 10% year over year, with adjusted EBITDA of $14 million and a margin of 10.9% [28] - The backlog for commercial operations reached a record $1.3 billion, up 39% from the previous quarter and 78% year over year [17] Market Data and Key Metrics Changes - The U.S. government continues to prioritize naval nuclear fleet and nuclear modernization, creating opportunities for BWXT [7][12] - In Canada, significant investments are being made in nuclear generation capacity, with potential new builds expanding to nearly 20 gigawatts [18] Company Strategy and Development Direction - BWXT is focused on expanding its nuclear services portfolio and enhancing manufacturing capacity in North America [9] - The company is well-positioned to capitalize on long-term investments in clean nuclear power and energy security [6] - The acquisition of Connectrix and expansion of the Cambridge manufacturing plant are part of the strategy to meet growing customer demand [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to weather macroeconomic disruptions due to long-cycle contracts and a strong balance sheet [10] - The administration's focus on nuclear energy and shipbuilding is seen as a positive for future growth [46] - Management anticipates a modest growth outlook for government operations in 2025, with a revenue CAGR of 3% to 5% in the naval propulsion segment [12] Other Important Information - The company completed the acquisition of AOT and is actively pursuing opportunities in the special materials sector [14] - BWXT is involved in the Advanced Nuclear Power for Installations Program, which aims to provide energy security for U.S. military bases [15] Q&A Session Summary Question: Negative EACs impact on government operations - Management confirmed that negative EACs were split between commercial and government operations, with recovery expected in the second half of the year [35][36] Question: Funding opportunities from recent appropriations - Management indicated limited direct funding opportunities from the continuing resolution but expressed optimism about potential benefits from the reconciliation bill [39][40] Question: Updates on the reconciliation package and shipbuilding - Management noted funding for defense enrichment and nuclear reactors in the reconciliation bill, with a positive outlook for nuclear shipbuilding [44][46] Question: Impact of raw material costs on commercial operations - Management acknowledged that raw material cost issues would affect margins in the first half of the year but expected recovery in the second half [48][49] Question: Timeline for Moly approval and contracting - Management hopes for approval in 2025 but acknowledged potential delays into early 2026 [56][57] Question: Updates on the enrichment contract and pilot program - Management detailed the conceptual stage of the pilot plant and the complexities of using unobligated materials for enrichment [65][68] Question: BWXT's entry into SPR management - Management highlighted their experience and qualifications as key factors in winning the SPR management contract [99][100] Question: Progress on Actinium-225 production - Management confirmed they remain the largest commercial producer of Actinium-225 and are exploring multiple production modalities [102][104]

Financial Data and Key Metrics Changes - First quarter revenue was $682 million, up 13% year over year, with growth in both segments [21] - Adjusted EBITDA was $130 million, also up 13% year over year, driven by robust growth in government operations [21] - Adjusted earnings per share increased to $0.91, a 20% rise compared to $0.76 last year [22] Business Line Data and Key Metrics Changes - Government operations saw a revenue increase of 14%, driven by naval propulsion and special materials [24] - Commercial operations revenue was $128 million, up 10% year over year, led by growth in medical and commercial power [25] - Adjusted EBITDA margin for government operations was 21.1%, while commercial operations saw a margin of 10.9%, down 100 basis points due to unfavorable mix and cost absorption [26] Market Data and Key Metrics Changes - The commercial operations backlog reached a record $1.3 billion, up 39% from the previous quarter and 78% year over year [15] - The Canadian Nuclear Safety Commission authorized the construction of the first BWRX 300 unit, marking a significant milestone for North America's first SMR project [16] Company Strategy and Development Direction - The company is focused on expanding its nuclear services portfolio and enhancing its manufacturing capacity in North America [7][17] - BWXT is positioned to benefit from long-term investments in nuclear technologies driven by decarbonization and increasing electricity demand [5][6] - The company is actively pursuing opportunities in government contracts, particularly in energy security and environmental restoration projects [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to weather macroeconomic disruptions due to long-cycle contracts and a strong balance sheet [8] - The administration's focus on naval nuclear fleet and nuclear modernization is expected to support a revenue CAGR of 3% to 5% in the government operations segment [11] - The market for nuclear medicine is anticipated to grow significantly, driven by increasing volumes of SPECT and PET scanning procedures [20] Other Important Information - Free cash flow for the quarter was $17 million, with capital expenditures at $33 million, or 4.9% of sales [21][23] - The company expects full-year free cash flow to be between $265 million and $285 million [23] Q&A Session Summary Question: Were the negative EACs all at government operations? - The negative EACs were about half from commercial operations and half from government operations, with specific impacts noted in the fuel business [32][33] Question: Do you see BWXT as in line to get any of the funding from the recent appropriations? - There is optimism regarding potential funding from the reconciliation bill, particularly for domestic defense enrichment and DoD nuclear reactors [36][42] Question: Can you provide an update on the Actinium-225 effort? - The company remains the largest commercial producer of Actinium-225 and is exploring multiple production modalities [98] Question: What is the status of the enrichment contract and pilot program? - The pilot program is in the conceptual stage, focusing on designing a pilot plant for centrifuge-type enrichment technology [62][63] Question: How is the company managing the zirconium cost impact? - The company has strong relationships with customers that allow for a path through mechanism to mitigate unforeseen risks related to raw material costs [89]

老铁们，今儿聊个让西伯利亚棕熊都瞪眼的硬核消息！中国国家能源集团去年挖煤6.2亿吨，单家产量直接碾压美俄总和，硬生生把"黑金帝国"的招牌挂上 了世界之巅！更狠的是新疆准东煤田两座露天矿年产6500万吨，挖煤速度比高铁还快——这哪是煤矿？分明是给地球做CT的工业印钞机！今天就带大伙儿 看看，中国煤矿军团咋把美俄百年挖煤史撕成了过时教科书！ 亿吨矿区的"钢铁洪流" 国家能源集团手里攥着97座煤矿，采掘机一响黄金万两，机械化率直接拉满100%。神东矿区17座矿井年产2亿吨，补连塔煤矿单井年产量怼到2800万吨，这 挖煤速度啥概念？每分钟60吨煤块往外喷，装车皮能绕赤道两圈半！更绝的是准东露天矿，矿坑面积74平方公里，挖出来的不粘煤直接给发电厂当"工业口 粮"，3500万吨年产能硬是干成了亚洲单体矿王。 美俄现在啥水平？ 美国全年煤炭产量卡在4亿吨出头，俄罗斯勉强摸到5亿吨门槛，两家捆一块还没咱国家能源集团单挑的产量高。当年毛子捂着库兹巴斯煤田当传家宝，现在 看咱家准东矿区的无人驾驶矿卡，GPS定位精度5厘米，夜间作业照常飙车，西伯利亚的老矿工眼镜片都得惊掉！ 重组狂潮炼出"黑金巨兽" 2017年那场世纪大合并，国电 ...

《求是》杂志，2025年第9期刊发中国石油天然气集团有限公司党组署名文章《当好能源保供"顶梁柱"》，全文如下—— 当好能源保供"顶梁柱" 中共中国石油天然气集团有限公司党组 能源安全事关经济社会发展全局。习近平总书记从国家发展和安全的战略高度，创造性提出推动能源消费革命、能源供给革命、能源技术革命、能源体制 革命和全方位加强国际合作的"四个革命、一个合作"能源安全新战略，强调"能源的饭碗必须端在自己手里"，为我国统筹能源高质量发展和高水平安全提 供了根本遵循。中央企业是能源保供的"顶梁柱"，中国石油天然气集团有限公司（以下简称"中国石油"）必须深入学习领会习近平总书记的重要论述和重 要指示批示精神，全面贯彻落实党中央决策部署，以进一步深化改革增强企业发展活力动力，为推进中国式现代化提供坚实可靠的能源保障。 一、增强国内供给能力，把保障能源安全的主动权握在自己手中 中国石油将坚持高效勘探和效益开发，持续推动非常规油气勘探开发技术突破、生产方式和管理模式创新，保持原油产量稳中有增、天然气产量较快增 长，不断提升油气保障能力；同时积极发展新能源，努力以多元高效的能源供给能力确保常态情景下供得足、供得好、供得稳，极端 ...

美国曾幻想将中国从"神坛"上拉下，然而中国始终稳如泰山，面对美国暂停油气进口，我们的能源供应几乎未受影响，反而让特朗普的能源大亨们心痛不 已。这一反制策略精准而强硬，而美国为何如此焦虑？中国是如何做到毫不畏惧的呢？ 今年2月，中国对美国的原油和天然气加征关税，初期税率在10%到15%之间，而到了4月，这一数字直接跃升至145%。这一强硬措施使得美国的能源出口几 乎无缘进入中国市场，按照常理，这种情况下国内能源供应应该会出现一些波动，但实际情况却令人惊讶。4月28日，国家发展改革委副主任赵辰昕在新闻 发布会上简洁地表示"没有影响"，看似简单的表态，实际上透露着中国在能源领域的雄厚底气。 据透露，中国从美国进口的油气量大幅下降，液化天然气（LNG）已连续两个月零进口。然而，这点美国的油气量对中国庞大的能源体系来说，根本不算 什么。全球市场上的供应商多如牛毛，沙特、俄罗斯、卡塔尔、澳大利亚等国都能随便提供所需。3月和4月，全球经济疲软，原油需求下降，油价也出现下 滑，中国趁机大举采购，库存堆得满满的。国际能源署数据显示，到2025年初，全球原油供应将依然保持宽松，而OPEC的减产策略又为中国的能源采购提 供了足够的 ...

当地时间4月30日上午，西班牙国家铁路总公司宣布，受到日前大范围停电影响的铁路运输服务已经全部恢复。 西班牙第三副首相及生态转型和人口挑战大臣阿格森在当天举行的新闻发布会上表示，29日起西班牙电气系统一直在正常且稳定的情况下运行，全国电力供 应已经完全恢复，不过部分地区仍由于电路不稳而发生轻微故障。 西班牙国家电网总裁贝阿特丽斯·科雷多尔30日在接受西班牙国家电视台采访时表示，未来将加强西班牙与法国，西班牙与欧盟其他国家之间的电力互联互 通。 4月28日，西班牙和葡萄牙遭遇大规模停电。据美联社报道，此次停电是欧洲近年来最严重的断电事件之一。西班牙在短短5秒内失去了全国60%的电力供 应。 对此，董一凡指出，如何使用可再生能源并确保使用安全，是摆在世界各国面前的挑战。 可再生能源发电比例的不断提高，可能会使相关国家的能源供应结构处于更为脆弱的位置。在这个过程中，很多传统能源，包括化石燃料和核能，虽然在环 保领域有争议，但是在推动能源供应稳定方面还是发挥着不可或缺的作用。 近年来，出于环保、能源安全以及所谓与俄罗斯能源脱钩等原因，欧洲各国在减少传统能源的同时，开始面临新的能源安全问题。 △美联社报道截图 停电期间 ...