根据《中华人民共和国资源税法》规定，现就资源税有关政策执行口径公告如下： 一、关于不缴纳资源税的情形 （一）各级行政机关、监察机关、审判机关、检察机关，以及法律法规授权的具有管理公共事务职能的 事业单位和组织依照国家有关法律法规罚没、收缴的资源税应税产品（以下简称应税产品），不缴纳资 源税。 （二）工程建设项目在批准占地范围内开采并直接用于本工程回填的砂石、粘土等矿产品，不属于开发 应税资源，不缴纳资源税。 智通财经APP获悉，11月24日，财政部发布关于明确资源税有关政策执行口径的公告。其中提到，纳税 人将开采的轻稀土原矿经过洗选等初加工过程产出的矿岩型稀土精矿（包括氟碳铈矿精矿、独居石精矿 以及混合型稀土精矿等），按照轻稀土选矿产品征收资源税。纳税人将开采的离子型稀土原矿通过离子 交换原理等工艺生产的稀土料液、碳酸稀土、草酸稀土和通过灼烧、氧化等工艺生产的混合稀土氧化 物，按照中重稀土选矿产品征收资源税。 原文如下： 关于明确资源税有关政策执行口径的公告 财政部 税务总局公告2025年第12号 二、关于适用税目 （一）纳税人开采的凝析油，按照原油税目征收资源税。 凝析油是指在气田开发中或油田开发天然气中因 ...

Core Insights - Argentina's unconventional oil production reached a historical high in September 2025, with an average daily output of 833,874 barrels, marking a 2% increase from August and a 14% increase year-on-year [1] - The growth in unconventional oil production is entirely driven by shale oil, with conventional oil production remaining stable [1] - Shale oil's average daily output surged by 30% year-on-year to 550,881 barrels, accounting for 66% of the country's total oil production, a record high [1] - The increase in oil and gas production has significantly boosted exports, improved trade balance, and enhanced federal revenue, providing critical momentum to Argentina's economy [1] - In contrast, natural gas production declined, with September's output at 4.9 billion cubic feet, down 6% month-on-month and 12% year-on-year, primarily due to a significant drop in shale gas production [1] Industry Outlook - Foreign investment in the oil and gas sector is on the rise, driven by President Milei's aggressive economic reforms that have eliminated strict capital controls and significantly reduced inflation [2] - Investment in the Vaca Muerta shale formation is expected to increase substantially from 2025 to 2030, with projections indicating that Argentina's average daily oil production could exceed 1 million barrels by the end of 2030 [2]

老铁们，今天开车路过加油站是不是发现价钱又便宜了？没错，今晚24时油价迎来年内第第十次下调！虽然加满一箱50升的92号汽油只省2.5元，刚够买个 茶叶蛋，但这点小变化背后，藏着影响咱们钱袋子的大趋势。 先看这轮调价多重要： 为啥油价跌跌不休？ 核心就三点： 对中长线投资者的启示： 1. 关注"用油大户"：航空、物流公司成本下降最直接，比如某快递巨头燃油成本占比超30%，油价每跌10%利润就能增厚5%； 今年油价调整从"七涨九跌六搁浅"变成 "七涨十跌六搁浅" ，汽油累计每吨下调690元，折算每升便宜0.49元，创下近四年新低。别看单次降幅小，累计起来 可是真金白银——货车司机跑一万公里能省下195元油费，物流成本下降最终会传导到物价上。 1. 国际油价拉胯：布伦特原油跌到63美元以下，WTI更是探至58美元，全球供应过剩压得油价喘不过气； 2. 地缘政治缓和：乌克兰和平计划取得进展，美俄关系缓和，市场风险溢价消退； 3. 需求不及预期：美国原油库存高企，巴西、圭亚那增产迅猛，而美联储推迟降息又抑制了消费信心。 2. 警惕新能源压力：油价低位运行会削弱电动车吸引力，充电省钱的逻辑要重新计算； 3. 布局抗周期资 ...

近日，国际能源署发布《2025年世界能源展望》报告强调，未来几十年，全球对能源服务特别是电力需 求将持续增长，包括交通、供暖、制冷、照明及其他家庭与工业用途的能源需求将快速上升，同时，数 据和人工智能相关服务需要的能源供应也将大幅上扬。 电力是当代工业和数字经济的命脉，目前，电力仅占全球终端能源消费的20%，但支撑起全球经济总量 40%以上领域，也是大多数家庭的核心能源保障。在可预见的时间内，全球电力需求增速将远高于能源 消费总量增速。这在当前全球能源投资中已有明显体现，对电力供应与终端电气化投资已占全球能源投 资总量的50%。 国际能源署多年来的分析持续凸显电力在全球经济中日益重要的地位。国际能源署署长法提赫·比罗尔 指出，与过去10年的趋势不同，电力消费增长不再局限于新兴经济体和发展中经济体。数据中心和人工 智能带来的电力需求迅猛增长，同样大幅推升了全球发达经济体的用电量。2025年全球数据中心投资预 计将达5800亿美元，已超过全球石油供应投资的5400亿美元，体现出全球经济形态的深刻变革。 报告指出，伴随着国际能源市场变革和国际政治格局动荡，在油气供应等传统能源安全风险之外，其他 关键矿产资源领域的脆 ...

报告显示，以光伏为首的可再生能源增速领先其他主要能源，到2035年，全球80%的能源消费增长将发 生在太阳辐照优质区域。同时，全球核电产业加速复苏，经历20多年停滞后，预测在2035年前，全球核 电装机容量至少能够实现三分之一的增长。同时，对传统大型核电站和小型模块化反应堆等新型设计的 投资将保持双线增长。 近日，国际能源署发布《2025年世界能源展望》报告强调，未来几十年，全球对能源服务特别是电力需 求将持续增长，包括交通、供暖、制冷、照明及其他家庭与工业用途的能源需求将快速上升，同时，数 据和人工智能相关服务需要的能源供应也将大幅上扬。 电力是当代工业和数字经济的命脉，目前，电力仅占全球终端能源消费的20%，但支撑起全球经济总量 40%以上领域，也是大多数家庭的核心能源保障。在可预见的时间内，全球电力需求增速将远高于能源 消费总量增速。这在当前全球能源投资中已有明显体现，对电力供应与终端电气化投资已占全球能源投 资总量的50%。 国际能源署多年来的分析持续凸显电力在全球经济中日益重要的地位。国际能源署署长法提赫·比罗尔 指出，与过去10年的趋势不同，电力消费增长不再局限于新兴经济体和发展中经济体。数据中心 ...

新华财经北京11月23日电（记者钟奕高畅）近日，一股强冷空气自西向东影响我国。从北到南大部分百姓套 上了羽绒服，寒风之中能源保供大考拉开帷幕。 暖气热不热、用电稳不稳、生产会不会受影响，成为对能源保供一线的"冰与火"之问。 电力保供：高负荷迎峰度冬 "气温每下降1摄氏度，负荷就会增加30万千瓦。"在国网北京电力调度控制中心，调控中心系统运行处董楠紧 盯着跳动的数字。自北京正式供暖以来，电网负荷持续攀升，今冬最大负荷预计将达到2900万千瓦，较历史 峰值增长超8%。 11月3日，荆门市沙洋县，国网湖北荆门供电公司变电运维人员检查新港储能电站关键设备，确保设备安全稳 定运行。新华网发黄林摄 一边是电网高负荷，一边是今冬更加复杂的天气形势。根据预测，近年来我国雨带和覆冰逐年北抬，华北、 东北等地冬季出现大面积输电线路覆冰灾害情况可能性增大。 塞北寒风中，呼和浩特铁路局姑家堡站灯火通明。调车长刘志刚在列车间穿梭，"车流密集时，必须争分夺 秒，完成列车重新编组。"他呼出的白气在零下气温中瞬间凝结。 "得像下棋，提前想好后面三五步。"友谊水库站长王学惠说。精密计划与灵活指挥相结合，确保每一列电煤 列车"快进快出"。 煤炭 ...

Core Viewpoint - The newly released "Management Measures for the Planning, Construction, and Operation of Oil and Gas Infrastructure" marks a significant shift in China's oil and gas infrastructure management, transitioning from a single commodity management approach to a comprehensive system that includes crude oil, refined oil, and natural gas [3] Group 1: Planning and Coordination - The management measures emphasize the importance of national oil and gas planning, integrating it with land use and regional planning to address key challenges in project implementation [4] - All cross-border and inter-provincial pipeline projects must be included in the national planning before implementation, aiming to eliminate fragmentation and redundant construction in the pipeline network [4] Group 2: Separation of Transportation and Sales - A core initiative of the revised measures is the mandatory separation of transportation and sales businesses, clarifying the responsibilities of companies involved in national oil and gas pipeline construction [5] - Companies engaged in competitive businesses are prohibited from participating in pipeline investment and operation, promoting fair access to infrastructure for all market participants [5] - The measures also address the bottleneck of provincial pipeline networks, encouraging their integration into the national network through market-oriented approaches [5] Group 3: Natural Gas Reserve Responsibility System - The measures establish a multi-layered natural gas reserve system, redistributing storage responsibilities among supply and transportation companies [6] - Local governments' emergency reserve indicators are set to be more scientifically based, while town gas companies are required to maintain a minimum storage capacity [6] - The market mechanism is emphasized for regulating storage services and prices, aiming to enhance seasonal peak shaving and emergency supply capabilities [6] Group 4: Regulatory Framework - The management measures consolidate various supervisory functions into a comprehensive regulatory framework, combining administrative, data, credit, and social oversight [8] - Legal responsibilities are significantly strengthened, introducing various punitive measures for non-compliance, thereby enhancing the enforceability of the regulations [8]

回顾"十四五"时期，我国能源消费结构持续优化，新能源供给能力大幅提升，能源新质生产力加快发 展。 数据显示，过去10年，全球风电项目平均度电成本累计下降超过60%，光伏发电项目成本下降超过 80%。"很大程度上归功于中国创新、中国制造、中国工程。"张玉清表示，我国已建成全球最先进的风 电光伏全产业链研发设计和制造体系，全球风电机组关键零部件和光伏 、硅片、电池片、组件等大部 分来自中国制造；新能源汽车、锂电池、光伏产品"新三样"年出口突破万亿元大关，助力我国产业链优 势不断巩固增强。 不过，由于我国产业结构偏重、能源结构偏煤、能源效率偏低、环境约束偏紧，张玉清表示："为实 现'双碳'目标，应对挑战、破解制约，必须深入贯彻'四个革命、一个合作'能源安全新战略，发展新质 生产力，加快建设新型能源体系，构建新型电力系统。" 10月28日发布的"十五五"规划建议提出，要加快建设新型能源体系。 在张玉清看来，"十五五"我国能源产业要实现高质量发展，需要从多方面入手。 （原标题：张玉清："十五五"时期能源安全是我国能源产业的首要任务） 21世纪经济报道记者曹恩惠 成都报道 11月19日下午，由南方财经全媒体集团指导、21 ...

Core Viewpoint - Algeria's foreign exchange reserves are a crucial indicator of its economic health, projected to exceed $81 billion by 2025, ranking second in Africa after Libya [1] Group 1: Foreign Exchange Reserves - Algeria's foreign exchange reserves are expected to surpass $81 billion by 2025, placing it second in Africa, behind Libya's approximately $92 billion [1] - The reserves are significantly higher than Morocco's $36.3 billion and Tunisia's $9.24 billion, which rank fifth and eighth respectively [1] - The stability of Algeria's reserves is primarily supported by oil and gas export revenues and recent government policies aimed at regulating imports and controlling foreign exchange expenditures [1] Group 2: Economic Indicators - President Tebboune stated in September that the current level of foreign exchange reserves is "acceptable," sufficient to cover 1 year and 5 months to 1 year and a half of import needs [1] - South Africa ranks third in Africa with $62.4 billion in reserves, followed by Nigeria with $41.3 billion, and other countries like Egypt, Angola, Côte d'Ivoire, and Kenya [1] Group 3: Regional Economic Differences - The foreign exchange reserve levels in North African countries are significantly higher than those in many West and East African nations [1] - Variations in foreign reserves are closely linked to global energy prices, structural reform processes, and international market pressures [1] - These differences reflect the diverse economic structures across African regions and indicate the direct impact of import policies and commodity prices on national external assets [1]

Core Insights - The global energy market is experiencing volatility due to rapid industry developments, geopolitical tensions, and fluctuating supply-demand dynamics [3][4][10] Group 1: Market Outlook - Asian oil and gas producers will face challenges from oil price fluctuations primarily influenced by supply-demand factors, with WTI crude oil prices expected to remain below $60 per barrel for most of 2026 [3][10] - The MSCI AC Asia-Pacific Energy Index's price-to-book ratio is currently at 1.2, above its 10-year average of 1.1, indicating that investors have not fully accounted for the risks of declining oil prices [3][7] Group 2: Performance Analysis - From January 1 to October 31, the Asian oil and gas index has underperformed the broader market due to weakened demand expectations stemming from U.S. tariffs and OPEC+ production increases [4][5] - The MSCI AC Asia-Pacific Energy Index rose by 13.86% during the same period, while the broader MSCI Asia-Pacific Index increased by 25.83%, highlighting a widening performance gap since August [5] Group 3: Supply Dynamics - OPEC+ is expected to increase production by 137,000 barrels per day in December as part of a gradual exit from voluntary production cuts implemented in 2023, which may lead to a supply surplus in the oil market [10] - The uncertainty surrounding Russian supply could exacerbate supply disruptions and potentially lead to spikes in oil prices in 2026 [4][5]