Core Viewpoint - Sinopec Victory (Dongying) Petrochemical Co., Ltd. has been established as a wholly-owned subsidiary of Sinopec, indicating the company's expansion in the petrochemical sector [1] Group 1: Company Information - The legal representative of the newly established company is Cui Guoju [1] - The registered capital of the company is 10 million RMB [1] - The business scope includes lubricating oil sales, petroleum product manufacturing, petroleum product sales, chemical product production, chemical product sales, instrument repair, and metrology technical services [1] Group 2: Shareholder Information - The company is fully owned by China Petroleum & Chemical Corporation (Sinopec) [1]

中石化（大连）石油化工研究院有限公司，成立于2022年，位于大连市，是一家以从事研究和试验发展 为主的企业。企业注册资本338459.08万人民币。通过天眼查大数据分析，中石化（大连）石油化工研 究院有限公司共对外投资了1家企业，参与招投标项目2838次，专利信息5000条，此外企业还拥有行政 许可65个。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 国家知识产权局信息显示，中国石油化工股份有限公司;中石化（大连）石油化工研究院有限公司申请 一项名为"干气深度净化分离工艺及系统"的专利，公开号CN121294033A，申请日期为2024年7月。 专利摘要显示，本发明公布了一种干气深度净化分离工艺。所述工艺包括：干气在吸收塔内经低温吸收 油吸收冷凝，低温吸收温度为‑75~‑65℃，得到吸收尾气和富吸收油；富吸收油经过滤分离，得到固体 和液相；过滤所得液相在再生塔内进行汽提分离，得到再生气和贫吸收油；贫吸收油经过增压、换热和 冷却后，进入吸收塔内作为低温吸收油；再生气经加压至0.2~0.5MPa，进入吸附罐吸附脱除携带的吸收 油组分；吸附尾气进入胺液吸收塔脱除硫化氢 ...

创新方法 体系赋能 筑牢检修根基 CFR辛烷值检测机是国际公认的汽油辛烷值权威检测设备，其检修维护横跨机械、电气、仪表、油品分 析多个技术领域，技术壁垒高。面对难题，李永翔没有退缩。他抱着上百页的外文资料逐字逐句研读， 反复搜索相关技术论文、查阅同类维修案例；同时对内部上百个零部件逐一拆解、检测、排查；最终结 合设备原理自主创新，设计制作出两个"国产化器官"，成功移植到机器上，仅用8天时间便彻底治愈"设 备顽疾"，为企业挽回经济损失。 言传身教 薪火相传 培育技能尖兵 在技能传承的道路上，李永翔不仅是能啃硬骨头的"设备神医"，更是甘当人梯的良师益友。每当有新入 职的员工与他结成师徒对子，他总会第一时间拿出珍藏多年的专业书籍，书页间密密麻麻的批注是他多 年的心得。他还会递上几本厚厚的检修日记，里面记录着各类设备故障的排查思路与解决方案。从握钳 的姿势到零件的拆装顺序，从设备运行的基础原理到突发故障的应急处理，他都带着徒弟在车间里、机 组旁、设备前手把手教学，从不藏私。"光会动手不够，更要懂原理、善思考，勤学多问才能真正把技 术学透!"这是他常对徒弟说的话。 在他的悉心指导与耐心鼓励下，徒弟们把车间当课堂、把设备 ...

产量的跨越式跃升，背后是精益管理、科技创新与绿色发展的协同发力。独山子石化公司以"一炉一 策"精准调控工艺参数，深化"日清日结"管理，闭环管控生产各环节消耗指标；发挥全国首批卓越级智 能工厂优势，实时在线优化系统、关键机组三维模型库，提升"双烯"收率，设备预防维修率达97.4%； 通过节能降耗措施，百万吨级乙烯燃动能耗蝉联行业能效"领跑者"；建立全流程成本管控体系，借力自 动投退炉程序、智能巡检机器人等方式优化生产，实现增产减碳的数智化、绿色化发展。 中化新网讯 2025年12月31日9时，独山子石化公司生产调度中心的屏幕上，全年乙烯产量数字最终定格 在208.86万吨，创历史新高。 ...

视频类一等奖包括陕西延长石油(集团)有限责任公司延安石油化工厂《星火》、中海石油(中国)有限公 司海南分公司《"深海一号"二期项目巡礼片》等。 中化新网讯 为了营造石油和化工行业品牌发展良好氛围，切实推动石油和化工行业品牌建设，深入推 进行业"增品种、提品质、创品牌"工作，近日，中国石油和化学工业联合会发布第十一届石油和化工企 业品牌故事征文比赛结果，图文类共评选出一等奖15件、二等奖25件、三等奖30件，视频类共评选出一 等奖10件、二等奖20件。 其中，图文类一等奖包括湖北兴福电子材料股份有限公司《光之觉醒，"芯"火永续》、中化二建集团有 限公司《三次挺进极地，铸就铁军传奇》、中国石油天然气股份有限公司天然气销售川渝分公司《圣灯 山下的守灯人》等。 ...

每经AI快讯，石油化工板块盘初下挫，国际实业跌超4%，中国石化跌超3%，泰山石油、统一股份跌超 1%。 （文章来源：每日经济新闻） ...

Group 1: Investment Rating - No investment rating information provided in the report Group 2: Core View - The short - term trend of fuel oil has weakened significantly, but there is still support below. The night session of low - sulfur fuel oil continued to rise, and the price difference between high - sulfur and low - sulfur in the overseas spot market continued to rebound [1] Group 3: Summary of Related Catalogs 3.1 Fundamental Tracking - **Futures Price and Change**: FU2602 closed at 2,537 yuan/ton with a daily increase of 2.09%, and its settlement price was 2,519 yuan/ton with a 1.94% increase; FU2603 closed at 2,514 yuan/ton with a 1.94% increase, and its settlement price was 2,494 yuan/ton with a 1.46% increase; LU2602 closed at 3,056 yuan/ton with a 3.98% increase, and its settlement price was 3,016 yuan/ton with a 2.83% increase; LU2603 closed at 3,032 yuan/ton with a 2.83% increase, and its settlement price was 2,998 yuan/ton with a 2.71% increase [1] - **Trading Volume and Position Change**: The trading volume of FU2602 was 9,439 lots with an increase of 1,599 lots, and its position decreased by 1,393 lots; the trading volume of FU2603 was 860,405 lots with an increase of 245,605 lots, and its position increased by 32,052 lots; the trading volume of LU2602 was 2,296 lots with an increase of 571 lots, and its position decreased by 1,031 lots; the trading volume of LU2603 was 183,215 lots with an increase of 67,757 lots, and its position increased by 4,137 lots [1] - **Warehouse Receipt Change**: The total market warehouse receipt of fuel oil decreased by 7,890 to 84,450, and the warehouse receipt of low - sulfur fuel oil decreased by 4,360 to 22,760 [1] - **Spot Price and Change**: In Singapore FOB, the price of high - sulfur (3.5%S) was 340.9 US dollars/ton with a 1.95% increase, and the price of low - sulfur (0.5%S) was 413.5 US dollars/ton with a 2.37% increase; in Singapore Bunker, the high - sulfur price was 357.0 US dollars/ton with a 2.00% increase, and the low - sulfur price was 427.0 US dollars/ton with a 2.40% increase; in other regions, prices also showed different degrees of change [1] - **Price Difference**: The price difference between FU02 - 03 was 23 yuan/ton, the price difference between LU02 - 03 was 24 yuan/ton, the price difference between LU02 - FU02 was 519 yuan/ton; the price difference between FU2602 - Singapore MOPS (3.5%S) was 156.9 yuan/ton with a 6.5 - yuan increase, the price difference between LU2602 - Singapore MOPS (0.5%S) was 169.0 yuan/ton with a 50.2 - yuan increase, and the price difference between Singapore MOPS (0.5%S - 3.5%S) was 72.6 US dollars/ton with a 3.1 - US - dollar increase [1] 3.2 Trend Intensity - The trend intensity of fuel oil is 0, and the trend intensity of low - sulfur fuel oil is 0. The range of trend intensity is an integer in the [- 2,2] interval, where - 2 means the most bearish and 2 means the most bullish [1]

Report Summary 1. Industry Investment Rating - No information provided regarding the industry investment rating. 2. Core Viewpoints - The short - term supply of LPG is tight, and attention should be paid to the fulfillment of downward drivers [1] - The spot supply and demand of propylene are tightening, and the trend is strong [2] 3. Summary of Key Information by Category 3.1 LPG and Propylene Futures Data - **Futures Prices**: PG2602 closed at 4,221 with a 0.52% daily increase and 4,246 at night with a 0.59% increase; PG2603 closed at 4,136 with a 0.80% daily increase and 4,155 at night with a 0.46% increase. PL2602, PL2603, and PL2604 also showed different price changes [2] - **Trading Volume and Open Interest**: The trading volumes and open interests of different contracts have changed compared to the previous day, such as PG2602's trading volume decreased by 5299 to 47,344, and its open interest decreased by 8297 to 33,462 [2] - **Price Spreads**: The price spreads of different regions and contracts have also changed, like the Guangzhou domestic gas to PG02 contract spread decreased from 661 to 639 [2] 3.2 Industry Chain Data - **PDH, MTBE, and Alkylation Unit Operating Rates**: The PDH operating rate this week is 75.6%, up from 75.1% last week; the MTBE operating rate is 67.6%, down from 68.0%; the alkylation unit operating rate is 38.2%, up slightly from 38.1% [2] 3.3 Market News - **CP Paper Goods Prices**: On January 9, 2026, the February CP paper goods price for propane was 522 US dollars/ton, up 5 US dollars/ton from the previous trading day; the butane price was 516 US dollars/ton, up 4 US dollars/ton. The March CP paper goods price for propane was 506 US dollars/ton, up 5 US dollars/ton from the previous trading day [7] - **Domestic PDH Unit Maintenance Plans**: Multiple companies have PDH unit maintenance plans, such as Henan Huasong New Materials Technology Co., Ltd. with a 15 - unit bDH starting maintenance on May 12, 2023, with the end time to be determined [8] - **Domestic LPG Plant Maintenance Plans**: Several LPG plants have maintenance plans, like Rizhao (CNOOC) with a full - plant shutdown starting on January 3, 2025, with the end time to be determined [8] 3.4 Trend Intensity - The trend intensity of LPG is 0, and that of propylene is also 0, both in a neutral state [6]

| | | | | 燃料油早报 | | 研究中心能化团队 2026/01/12 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 燃 料 油 | | | | | | | | | 日期 | 鹿特丹3.5% HSF O掉期 M1 | 鹿特丹0.5% VLS FO掉期 M1 | 鹿特丹HSFO-Br ent M1 | 鹿特丹10ppm G asoil掉期 M1 | 鹿特丹VLSFO-G O M1 | LGO-Brent M1 | 鹿特丹VLSFO-H SFO M1 | | 2026/01/05 | 328.36 | 377.83 | -9.43 | 600.70 | -222.87 | 21.06 | 49.47 | | 2026/01/06 | 327.72 | 377.00 | -9.51 | 593.30 | -216.30 | 21.18 | 49.28 | | 2026/01/07 | 315.72 | 370.14 | -10.22 | 580.60 | -210.46 | 20.31 | 54.42 | | 2026/01/08 | 311 ...

易后果，凡据此入市者，我公司不承担任何责任。未经公司授权，不得随意转载、复制、传播本网站中所有研究分析报告、行情分析视频等全 部或部分材料、内容。对可能因互联网软硬件设备故障或失灵、或因不可抗力造成的全部或部分信息中断、延迟、遗漏、误导或造成资料传输 或储存上的错误、或遭第三人侵入系统篡改或伪造变造资料等，我们均不承担任何责任。 LPG = FA BH 研究中心能化团队 2026/01/12 -P G 丙烷CIF日| CP预测合 山东烷基 丙烷CFR华南 纸面进口利润 日期 华南液化气 华东液化 山东液化气 山东醚后碳四 主力基差 k 同价 化油 2026/01/05 4860 4413 4400 580 529 245 4470 7100 198 377 4420 4430 2026/01/06 4865 4457 595 546 526 7100 325 90 2026/01/07 4865 4457 4420 523 4380 7100 592 537 108 332 4467 517 2026/01/08 4855 4400 575 517 4380 7080 234 368 4840 4400 52 ...