Core Viewpoint - China National Offshore Oil Corporation (CNOOC) successfully launched the fifth phase of the Dasha Petrochemical project, marking a significant milestone in the development of integrated refining and chemical projects in China [1] Group 1: Project Development - The Dasha Petrochemical project has achieved a successful first-time operation, indicating effective project execution and operational readiness [1] - The project is located in Ningbo, Zhejiang, and is part of a larger initiative to enhance China's refining and chemical capabilities [1] Group 2: Technological Innovation - The core technology used in the project is a domestically developed complete set of heavy oil direct cracking technology, which allows for the conversion of heavy oil into chemical products such as polypropylene [1] - This technological advancement is expected to promote efficient conversion of heavy oil, aligning with national goals for energy efficiency and resource utilization [1]