每日经济新闻 平安证券认为，面对国际油价剧烈震荡，国内油企通过上下游一体化布局和油气来源多元化降低了业绩 对油价的敏感性，并加快在国内海上油气资源开放方面的投入，以降低能源对外依赖程度。光大证券认 为，"三桶油"未来将继续维持高资本开支，不断加强天然气市场开拓，加快中下游炼化业务转型，有望 实现穿越油价周期的长期成长。 石化ETF（159731）及其联接基金（017855/017856）跟踪中证石化产业指数，聚焦"大能源"安全逻辑。 不仅能分享下游化工品的利润修复，此外通过高配"三桶油"等炼化龙头，锁定能源上游资源价值，在油 价上行周期具备更强的业绩韧性。 截至2月9日14点30分，石化ETF（159731）涨1.09%，持仓股浙江龙盛、彤程新材、华峰化学涨幅居 前。从资金净流入方面来看，石化ETF（159731）近20个交易日资金净流入总计14.47亿元。石化ETF最 新份额达17.30亿份，最新规模17.48亿元，均创成立以来新高。 ...

摘要：【图】2025年1-9月黑龙江省原油产量统计分析 2025年1-9月原油产量分析： 据国家统计局数据，在2025年的前9个月，黑龙江省规模以上工业企业原油产量累计达到了2228.3万 吨，与2024年同期的数据相比，增长了0.4%，增速较2024年同期高0.3个百分点，继续保持增长，增速 较同期全国低1.3个百分点，约占同期全国规模以上企业原油产量16263.3万吨的比重为13.7%。 图表：黑龙江省原油产量分月（累计值）统计 图表：黑龙江省原油产量分月（当月值）统计 注：主要能源产品产量月度统计范围为规模以上工业法人单位，即年主营业务收入2000万元及以上的工 业企业。 产业调研网为您提供更多 石油化工行业最新动态 石油行业监测及发展趋势 化工未来发展趋势预测 日化现状及发展前景 润滑油发展前景趋势分析 汽油的现状和发展趋势 柴油行业现状与发展趋势 橡胶市场现状及前景分析 塑料市场调研与发展前景 化妆品发展现状及前景预测清洁护肤市场调研及发展趋势 2025年9月原油产量分析： 单独看2025年9月份，黑龙江省规模以上工业企业原油产量达到了244.4万吨，与2024年同期的数据相 比，9月份的产量增长了 ...

截至10：26，中证石化产业指数（H11057）涨0.83%，权重股万华化学涨0.12%，中国石油跌0.37%，中 国石化涨0.62%，盐湖股份涨1.7%，中国海油跌0.79%，藏格矿业涨2.78%，巨化股份跌0.25%，恒力石 化跌0.12%，华鲁恒升跌0.25%，宝丰能源涨0.66%。截至2月6日，该指数近一年上涨47.26%。 化工行业ETF易方达（516570）跟踪中证石化产业指数，备受资金青睐。数据显示，该基金连续10日获 资金净流入，合计超13亿；最新基金规模攀升至16.98亿元。 | 近5日净流入 | | | 单位(万元) | | --- | --- | --- | --- | | 25217 | | | | | | 1402 | 2942 | 4852 1413 | | 2-2 | 2-3 | 2-4 | 2-5 2-6 | | 天数 | | 净流天 | 净流额 净流率 | | 5 | | 5 | 35824 25.94% | | 10 | | 10 | 130943 309.61% | | 20 | | 16 | 146086 588.64% | 消息面上，美国与伊朗之间持续的紧张局势促使投 ...

截至2月9日10点整，石化ETF（159731）涨0.4%，持仓股浙江龙盛、联泓新科、藏格矿业等涨幅居前。 从资金净流入方面来看，石化ETF（159731）近20个交易日资金净流入总计14.47亿元。石化ETF最新 份额达17.30亿份，最新规模17.48亿元，均创成立以来新高。 石化ETF（159731）及其联接基金（017855/017856）跟踪中证石化产业指数，聚焦"大能源"安全逻辑。 不仅能分享下游化工品的利润修复，此外通过高配"三桶油"等炼化龙头，锁定能源上游资源价值，在油 价上行周期具备更强的业绩韧性。 每日经济新闻 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com 近期"三桶油"集团公司及下属子公司陆续召开2026年度工作会议，总结2025年工作和"十四五"发展成 就，研究提出"十五五"发展思路和目标任务，部署2026年重点工作。2026年，"三桶油"集团将做强做优 做大油气主业基本盘，增强 ...

1. Report Industry Investment Rating No information about the report industry investment rating is provided in the content. 2. Core Viewpoints of the Report - LPG exhibits a game between sentiment and fundamentals, with PG oscillating before the holiday. In the short - term, the internal and external market logics are differentiated, and the PG price is expected to oscillate weakly. It is advisable to pay attention to geopolitical situations and opportunistically short at high levels [1][4]. 3. Summary by Relevant Catalogs 3.1. Can - Chemical Product Closing Price Monitoring - The report presents the closing prices, daily, weekly, monthly, and annual price changes of various can - chemical products, including exchange rates, precious metals, crude oil, and chemical products. For example, the current value of the US dollar against the RMB exchange rate is 6,959 yuan, with a daily increase of 0.03%, a weekly decrease of 0.13%, a monthly decrease of 0.77%, and an annual decrease of 2.95%. The current value of LPG is 4,258 yuan/ton, with a daily increase of 2.04%, a weekly decrease of 0.75%, a monthly increase of 0.88%, and an annual decrease of 2.34% [3]. 3.2. LPG: Game between Sentiment and Fundamentals, PG Oscillates before the Holiday - **Supply**: It is bearish. Last week, the total LPG commodity volume was about 548,800 tons. The civil gas commodity volume was 225,400 tons (-2.76%), the industrial gas was 191,700 tons (0.31%), and the ether - after carbon four was 179,800 tons (0.94%). The LPG arrival volume last week was 510,000 tons (2.63%). Domestic supply increased this week, but it is expected to decline next week [4]. - **Demand**: It is neutral. The winter heating demand is maintained, and the LPG combustion demand is gradually improving. However, the PDH device load will gradually decrease before the Spring Festival, and the propane chemical demand is expected to decline. The MTBE profit is in deficit, and the overseas olefin blending oil demand is slowing down, which restrains the civil gas price [4]. - **Inventory**: It is bullish. Last week, the LPG refinery inventory decreased by 1.73%, and the port inventory showed a trend of accumulating. Refineries successfully reduced inventory, while some ports withheld goods for sale [4]. - **Basis and Position**: It is neutral. The weekly average basis in East China, South China, and Shandong are 234.80 yuan/ton, 644.80 yuan/ton, and 261.80 yuan/ton respectively. The total LPG warehouse receipt volume increased by 6,902 lots [4]. - **Chemical Downstream**: It is bearish. The operating rates of PDH, MTBE, and alkylation are 62.66%, 58.15%, and 36.54% respectively. The profits of PDH to propylene, MTBE isomerization, and alkylation in Shandong are -374 yuan/ton, 142 yuan/ton, and 1 yuan/ton respectively [4]. - **Valuation**: It is bullish. The PG - SC ratio is 25 (0.41%), and the PG primary - secondary monthly spread is -303 yuan/ton (3.06%). The oil - gas cracking spread has a weakening trend [4]. - **Other Factors**: It is bullish. The US EIA oil and gas inventory continued to decline last week. Geopolitical tensions in the Middle East and Russia - Ukraine regions are intensifying. The natural gas price has skyrocketed due to the cold wave, and the geopolitical situation has caused market panic [4]. 3.3. Market Review - The main contract of LPG futures oscillated and declined, with a price fluctuation range of 4,110 - 4,360 yuan/ton. International crude oil prices oscillated sharply and trended downward, and international LPG prices oscillated. Domestic supply and demand both decreased, and the spread between ether - after carbon four and civil gas was inverted [6]. 3.4. LPG Futures Price, Monthly Spread, and Cross - Month Spread Overview - **Futures Price**: The current values of PG01 - PG12 contracts are between 4,082 - 4,516 yuan/ton. Compared with last week, most contracts decreased, and compared with last month, most contracts increased [11]. - **Monthly Spread**: The current values and changes of various monthly spreads are presented. For example, the PG01 - PG02 spread is -134 yuan/ton, with a weekly increase of 47.25% and a monthly decrease of 494.12% [11]. - **Cross - Month Spread**: The current values and changes of various cross - month spreads are also presented. For example, the PG01 - PG03 spread is -49 yuan/ton, with a weekly decrease of 800.00% and a monthly decrease of 141.18% [11]. 3.5. Refinery Device Maintenance Plan - **Main Refineries**: Many refineries under Sinopec, PetroChina, Sinochem, and CNOOC have maintenance plans, with different maintenance times and capacities [13]. - **Local Refineries**: Some local refineries in Shandong, Northeast, North China, and East China also have maintenance plans, and some of the end times are undetermined [13]. 3.6. International Spot Price - The report shows the price trends of CP propane, CP butane, MB propane, MB butane, FEI propane, and FEI butane, as well as the spreads between them [16][27][30]. 3.7. Other Related Data - The report also presents data on LPG consumption, production, import and export, port inventory, refinery inventory, and deep - processing profits, etc., and shows their trends over time [135][150][174][195].

Group 1: Development Goals and Framework - The State-owned Assets Supervision and Administration Commission (SASAC) has set the annual development goals centered on "two guarantees and two strives" for 2026, marking a shift towards quality and efficiency in state-owned enterprises (SOEs) [4] - The total assets of central enterprises have surpassed 95 trillion yuan, with R&D investment exceeding 1 trillion yuan for four consecutive years, indicating a focus on quality-driven growth [8] - The framework aims to guide state capital towards strategic security, public welfare, and emerging industries, providing a clear action plan for reform and development [4] Group 2: Industry Integration and Collaboration - In 2025, the restructuring of central enterprises will follow a dual-track approach, focusing on strategic formation of new central enterprises and multi-field professional integration [13] - The establishment of new central enterprises, such as China Yajiang Group and China Chang'an Automobile Group, aims to serve national macro strategies and enhance industry collaboration [14] - A total of 17 units signed agreements in key areas like artificial intelligence and new materials, creating a multi-party collaborative model involving central enterprises, private enterprises, and local governments [16] Group 3: Capital Investment and Fund Management - The total scale of the China Chengtong fund system reached 710 billion yuan, with 97.99% allocated to strategic emerging industries, demonstrating a strong focus on high-tech sectors [18] - The National Investment Group manages 61 funds with a total scale of 345.1 billion yuan, having invested in 1,249 projects and facilitated 293 companies going public [20] - The investment strategy emphasizes long-term support for innovative enterprises, with over two-thirds of funds directed towards private enterprises [20] Group 4: Resource Integration and Security - Central enterprises are undergoing intensive integration in key mineral sectors, such as iron ore and rare earths, to enhance resource control and pricing power [24] - The integration aims to create a closed-loop industry chain, improving domestic supply security and reducing reliance on imports [25] - This strategic move is seen as a vital step in ensuring national resource security and enhancing the global influence of China's mineral resources [24]

2月5日，巴斯夫宣布上调亚太地区（不含中国大陆）地区的TDI产品价格11%。这直接引爆了化工板块 的热钱流入。 | ■ 石油化工 | | | | 田 - 健加自选 区 生成图片 土 生成表格 | | --- | --- | --- | --- | --- | | | 理由 巴斯夫宣布上调亚太地区的TDV*品价格11% | | | | | 股票名称 | | | 最新价 = 医院幅 · 医师时间 · 流通市值 · 解法 | | | 江天化学 300927.5Z | 36.68 | 11,6696 | 10:18:30 | 51.68亿 公司丰富高清专用期间化学品 | | 金牛化工 | 8.64 | 10.06% | 10:11:15 | 公和主要业务由持服50%的投整了公司金牛加阳经营,全牛加阳拥有的甲酸生产赋力为20万吨/ 58.78亿 | | 600722.SH | | | | 年,生产方式为焦炉气制甲醇 | | 沧州大化 | 21.63 | 10.02% | 10:17:13 | 1、公司此前共聚到PC产品胶料试车成功,使公司成为国内第一家连续生产法生产共聚到PC的企 89.54Z | | 600230.S ...

Group 1 - The event held on February 3, 2026, was organized by the State-owned Assets Supervision and Administration Commission (SASAC) and the China Petroleum and Chemical Industry Federation to celebrate the Spring Festival for retired petrochemical workers [1] - Notable attendees included former leaders from the Ministry of Chemical Industry and current officials from SASAC, highlighting the importance of the event in recognizing the contributions of retired workers to the industry [4] - The petrochemical industry is recognized as a crucial pillar of the economy, with over 20 products ranking first globally, and significant advancements in technology and production capabilities [5] Group 2 - The SASAC emphasized the importance of addressing internal and external challenges while enhancing the "five values" in 2025, attributing past successes to the foundational work of retired leaders [4] - The petrochemical sector aims to continue its development by fostering a spirit of collaboration between experienced and new workers, contributing to the goal of building a strong petrochemical nation [5] - The focus for 2026 includes improving service quality for retired workers and enhancing operational management within the SASAC's petrochemical service center [5]

Group 1 - In the first eight months of 2025, the sulfuric acid production in Fujian Province reached 196.8 million tons, representing a 1.2% increase compared to the same period in 2024, but the growth rate is 2.7 percentage points lower than in 2024 and 5.9 percentage points lower than the national average [1] - The total sulfuric acid production in the same period accounts for 2.6% of the national output of 7498.15444 million tons from large-scale industrial enterprises [1] Group 2 - In August 2025, the sulfuric acid production in Fujian Province was 23.6 million tons, which is a decrease of 6.9% compared to August 2024, with the growth rate being 15.4 percentage points lower than in 2024 [3] - The production in August accounts for 2.4% of the national sulfuric acid output of 973.35169 million tons from large-scale industrial enterprises [3]

MEG：据悉，沙特一套 85 万吨/年的乙二醇装置计划 3-4 月份停车检修，预计时间在 1-2 个月。据悉， 沙特一套 38 万吨/年的乙二醇装置重启时间待定，该装置原计划 2 月份内重启。 期 货 研 究 2026 年 02 月 09 日 对二甲苯：单边震荡市，月差偏弱 PTA：区间震荡市 MEG：区间操作 贺晓勤 投资咨询从业资格号：Z0017709 hexiaoqin@gtht.com | 期货 | PX 主力 | PTA 主力 | MEG 主力 | PF 主力 | SC 主力 | | --- | --- | --- | --- | --- | --- | | 昨日收盘价 | 7262 | 5166 | 3743 | 6578 | 469.8 | | 涨跌 | 62 | 22 | -2 | 14 | 2.6 | | 涨跌幅 | 0.86% | 0.43% | -0.05% | 0.21% | 0.56% | | 月差 | PX5-9 | PTA5-9 | MEG5-9 | PF3-4 | SC2-3 | | 昨日收盘价 | 14 | 8 | -114 | -80 | 0 | | 前日收盘价 | 14 ...