能源，社会发展的"引擎"，人类文明的"燃料"。作为世界最大的能源生产和消费国，中国每年消耗石油7.56亿吨、天然气4260.5亿立方米。这相当于每个 中国人，每年需要石油0.56吨。正是源自高效优质的能源供给，支撑了全球制造业第一大国，世界第二大石油消费市场。 9月25日，我国最大的油气生产供应企业——中国石油迎来成立75周年的历史性时刻。忆往昔，中国石油人的每一次求索与跨越，都印证着"我为祖国献 石油"的铮铮誓言。看今朝，中国石油"三个1亿吨"格局的形成与持续巩固，正加快向"油气热电氢"和"炼化生精材"综合性国际能源与化工公司转型跨越。 艰苦创业，为祖国"站起来"壮筋骨 时光回溯至1949年，新中国百废待兴，石油工业基础极其薄弱，全国原油年产量仅12万吨。能源安全，关乎国家存续与发展命脉。 中国石油就在国家建设最急迫期间孕育而来。随着玉门油矿的解放，以及石油管理总局开始规范运行，标志着我国石油工业开始由分散走向集中统一管 理，并拉开了大规模油气勘探开发的序幕。 中国石油吉林油田川南地区钻井作业现场 从发现新中国第一个大油田克拉玛依油田，到建成新中国第一个天然石油基地玉门油田，再到展开新中国第一次石油大会战川 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a market price of RMB 8.88 and a sector rating of "Outperform" [2][5]. Core Views - The report highlights the deep integration of oil and gas with new energy, enhancing the company's sustainable development capabilities. It emphasizes the acceleration of CCUS (Carbon Capture, Utilization, and Storage) projects in Xinjiang Oilfield, aiming for a carbon injection target of 1 million tons by 2025 and 10 million tons by 2030 [4][5][10]. - The company is expected to achieve significant growth in oil and gas production, with shale oil projects exceeding 1 million tons in 2024. The focus is on clean energy alternatives and strategic transitions towards green development [4][5][10]. Financial Summary - The projected net profit for 2025-2027 is RMB 167.96 billion, RMB 169.23 billion, and RMB 179.88 billion, respectively, with corresponding P/E ratios of 9.7x, 9.6x, and 9.0x [7][9]. - The main revenue for 2025 is estimated at RMB 2,951.03 billion, with a slight growth rate of 0.4%. EBITDA is projected at RMB 328.76 billion, with a net profit growth rate of 2.0% [9][11]. - The company plans to maintain high capital expenditures in oil and gas projects, with an estimated capital expenditure of RMB 210 billion for 2025, focusing on unconventional resources and clean energy initiatives [10][11].