能源日报 | 2025-05-08 伊比利亚半岛炼厂停产水平依然偏高 市场要闻与重要数据 1、纽约商品交易所6月交货的轻质原油期货价格下跌1.02美元，收于每桶58.07美元，跌幅为1.73%；7月交货的伦 敦布伦特原油期货价格下跌1.03美元，收于每桶61.12美元，跌幅为1.66%。SC原油主力合约收跌1.52%，报459元/ 桶。 2、阿联酋富查伊拉石油工业区最新数据显示，截至5月5日当周，阿联酋富查伊拉港的成品油总库存环比上升了 0.1%，达到2074.2万桶。其中，中质馏分油库存下降了20%，至173万桶，为七个月低点，重质残渣燃料油库存下 降了2.6%，至1046.2万桶，为六周低点。轻质馏分油库存从一周前的一个月低点上升至855万桶。（来源：Bloomberg） 3、卡塔尔将6月海运原油的出货价定在较阿曼/迪拜原油价格升水0.80美元/桶；陆运原油的出货价定在较阿曼/迪拜 原油价升水0.70美元/桶。（来源：Bloomberg） 4、欧盟正在考虑对Litasco Middle East DMCC公司实施制裁，这是针对莫斯科影子油轮船队的全面新措施的一部分。 该公司是俄罗斯石油巨头卢克石油公司（L ...

消息人士称，委内瑞拉的阿迈（Amuay）和卡尔顿（Cardón）炼油厂每日合计处理原油量为187,000 桶。 ...

据消息人士透露，在关闭一年后，委内瑞拉重新启动其第二大炼油厂的关键汽油生产装置。 ...

"炼油行业正从传统燃油生产向化工原料生产转型。"中国石化石油化工科学研究院有限公司董事 长、院长李明丰指出，当前炼油行业面临产能封顶、燃油需求达峰以及产品结构调整的巨大压力。原油 加工量将于2060年降至3亿吨，主要用于生产化学品及材料。催化裂化作为炼油行业的重要工艺，将聚 焦重质原料处理，以满足化工原料需求。 CCUS技术被视为实现全球碳中和目标的关键技术之一。中国石油集团公司科技管理部原副总经理 钟太贤介绍说，我国在CCUS领域的研究和实践已取得显著进展，未来我国CCUS技术将实现规模化、 集群化发展，形成畅通、高效、绿色的产业链。预计到2060年，我国将实现碳埋存量30亿吨，支撑国家 如期实现碳达峰碳中和目标。 航天长征化学工程股份有限公司常务副总经理朱玉营指出，当前煤化工行业面临结构性供需矛盾、 价格内卷以及绿色和数字化转型的挑战。对此，企业应及时转变观念，从"用好煤"向"用好碳"转变，提 前布局绿色碳源和耦合技术，以应对未来的碳中和挑战。同时，还需积极探索人工智能技术在生产中的 应用，共同推动煤化工行业转型升级。 中国石化经济技术研究院副总工程师刘潇潇表示，当前，全球气候目标与行动之间存在巨大鸿沟， ...

基础化工 基础化工 2025 年 05 月 05 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -36% -24% -12% 0% 12% 24% 2024-05 2024-09 2025-01 基础化工 沪深300 相关研究报告 《铬盐产业链价格持续上行，本周多 家维生素 ADE 厂家停报—行业周报》 -2025.4.27 《2025 年一季度国内经济平稳起步， 部分农药旺季备货持续下景气上行— 行业周报》-2025.4.20 《本周百菌清、代森锰锌、菊酯等农 药价格上涨，中国调整对原产于美国 的进口商品加征关税措施—行业周 报》-2025.4.13 2024 年化工板块增收减利，2025 年 Q1 龙头公司业 绩率先增长 ——行业点评报告 | 金益腾（分析师） | 张晓锋（分析师） | 徐正凤（分析师） | | --- | --- | --- | | jinyiteng@kysec.cn | zhangxiaofeng@kysec.cn | xuzhengfeng@kysec.cn | | 证书编号：S0790520020002 | 证书编号：S0790522080003 | 证书编号：S079 ...

证券研究报告|行业研究报告 [Table_Date] 2025 年 5 月 5 日 [Table_Title] SK Innovation 2025Q1 电池业务实现营收 1.61 万亿 韩元，该业务营业亏损 2993 亿韩元 [Table_Title2] 有色金属-海外季报 [Table_Summary] 季报重点内容: ►2025Q1 财务业绩情况 一、2025Q1 整体盈利情况 2025Q1 公司整体营收为 21.15 万亿韩元（1142.10 亿元人 民币），营业亏损为 446 亿韩元（2.41 亿元人民币）。 公司实现了 10 个季度以来的最高季度营收，这得益于合 并后首次全面纳入 SK Innovation E&S 业绩的 1.7 万亿韩元 （91.8 亿元人民币）增长。然而，尽管电池业务业绩有所改 善，但炼油利润率下降和国际油价下跌导致了营业亏损。 ►重要业务更新 1）电池业务 SK Innovation 强调了其在电池领域的进展，并指出其于 3 月份与日产签署了一份 99.4 GWh 的电池供应协议，供应 100 万辆中型电动汽车，随后又与美国电动汽车初创公司 Slate 签 署了 20 GW ...

Core Insights - In 2024, China's refined oil market is experiencing significant changes, with fuel consumption in the transportation sector reaching its peak earlier than expected, leading to a transition from growth to decline in gasoline consumption [1][5] - The demand for refined oil is projected to continue declining in 2025, with an expected trend of "two declines and one increase" in consumption [1][25] Group 1: Refined Oil Consumption Trends - In 2024, the total refined oil consumption in China is estimated at 358.9 million tons, a decrease of 2.8% from the previous year, with gasoline and diesel consumption both declining [1][2] - Gasoline consumption is projected to decrease by 2.0% to 152 million tons, while aviation kerosene consumption is expected to grow by 13.0% [1][6] - Diesel consumption is anticipated to drop significantly, with a decline of 6.5% to 168 million tons, marking the largest decrease in recent years [12][22] Group 2: Impact of New Energy Vehicles - The rapid development of new energy vehicles (NEVs) is a key factor driving the decline in gasoline consumption, with NEV sales reaching 12.87 million units in 2024, accounting for 40.9% of the market [6][8] - The shift towards NEVs is further supported by government policies promoting the scrapping of old gasoline vehicles, which is expected to peak in 2024 [8][23] Group 3: Aviation Fuel Demand - Aviation kerosene consumption is projected to reach 39 million tons in 2024, reflecting a growth of 13% compared to the previous year, driven by increased domestic and international air travel [9][32] - The number of flights and passenger transport volume is expected to rise, contributing to the robust growth in aviation fuel demand [9][11] Group 4: Diesel Consumption Challenges - Diesel consumption is facing multiple pressures, including a slowdown in infrastructure investment and a decline in the real estate sector, leading to a significant drop in demand [12][34] - The increasing adoption of alternative fuels, such as liquefied natural gas (LNG), is further exacerbating the decline in diesel consumption, with LNG heavy truck sales experiencing a 15% increase in 2024 [13][15] Group 5: Refining Industry Adjustments - The refining industry in China is undergoing structural adjustments, with new refining capacities being introduced while older facilities are being shut down, resulting in a slight increase in total refining capacity to 923 million tons per year [16][18] - The export of refined oil is expected to decline due to reduced demand and lower export tax rebates, with actual export volumes decreasing by 527,000 tons in 2024 [19][22] Group 6: Policy Impacts - Government policies aimed at promoting the replacement of old vehicles and encouraging the use of new energy vehicles are expected to accelerate the transition towards a greener transportation sector [23][24] - The introduction of the "2024-2025 Energy Saving and Carbon Reduction Action Plan" is anticipated to further suppress diesel consumption and promote the adoption of cleaner energy alternatives [24][34] Group 7: Future Outlook - The refined oil market in China is expected to continue facing challenges in 2025, with overall consumption projected to decline to 345 million tons, reflecting ongoing structural adjustments and the impact of alternative energy sources [25][26] - The aviation fuel demand is likely to remain the only segment showing growth, while gasoline and diesel consumption will continue to decline [31][32]

[Table_StockNameRptType] 荣盛石化（002493） 公司点评 25Q1 业绩改善，在建项目陆续投产 | [Table_Rank] | 投资评级：买入（维持） | | --- | --- | | 报告日期： | 2025-05-03 | | [Table_BaseData] 收盘价（元） | 8.33 | | 近 12 个月最高/最低（元） | 11.56/7.72 | | 总股本（百万股） | 10,126 | | 流通股本（百万股） | 9,498 | | 流通股比例（%） | 93.81 | | 总市值（亿元） | 843 | | 流通市值（亿元） | 791 | [Table_Chart] 公司价格与沪深 300 走势比较 -40% -30% -20% -10% 0% 10% 20% 30% 荣盛石化 沪深300 [Table_Author] 分析师：王强峰 执业证书号：S0010522110002 电话：13621792701 邮箱：wangqf@hazq.com 分析师：潘宁馨 执业证书号：S0010524070002 电话：13816562460 邮箱：pannx@hazq ...

Core Viewpoint - The Daqing Refining and Chemical Company has initiated a "reverse mentoring" program where young employees teach senior leaders new technologies and concepts, fostering intergenerational collaboration and innovation [2][3][4] Group 1: Program Overview - The "reverse mentoring" activity allows young employees to act as mentors for senior leaders, breaking traditional hierarchical teaching models [2] - Since its launch in early April, 54 young employees have participated, forming mentor-mentee pairs with senior leaders [3] - The program aims to integrate new technologies into the company's operations, enhancing digital transformation efforts [4] Group 2: Benefits and Outcomes - Young mentors, such as Chen Shuang and Ren Jiarui, have successfully conveyed complex technical concepts to senior leaders, leading to mutual learning experiences [2][3] - The program has resulted in practical solutions, such as a new design for a heat exchanger that improves operational efficiency while addressing potential risks [3] - The collaboration has led to cost-saving innovations, exemplified by a project that aims to reduce expenses related to non-standard pipe testing [4] Group 3: Future Implications - The initiative represents a commitment to "teaching and learning from each other," promoting a culture of dual empowerment and shared growth within the company [4] - The program aligns with the company's strategic goals of high-end, intelligent, and green development, ensuring continuous improvement and innovation [4]

据路透社计算显示，俄罗斯4月份的主要线下炼油能力经修正后较之前的计划上调了3%，达到290万 吨。俄罗斯5月份的主要线下炼油能力预计将比4月份增长5.7%，达到320万吨。 ...