| | | | | 燃料油早报 | | 研究中心能化团队 2026/02/02 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 燃 料 油 | | | | | | | | | 日期 | 鹿特丹3.5% HSF | 鹿特丹0.5% VLS | 鹿特丹HSFO-Br | 鹿特丹10ppm G | 鹿特丹VLSFO-G | LGO-Brent M1 | 鹿特丹VLSFO-H | | | O掉期 M1 | FO掉期 M1 | ent M1 | asoil掉期 M1 | O M1 | | SFO M1 | | 2026/01/26 | 344.81 | 393.32 | -10.27 | 655.75 | -262.43 | 24.28 | 48.51 | | 2026/01/27 | 348.36 | 398.84 | -11.04 | 658.65 | -259.81 | 22.80 | 50.48 | | 2026/01/28 | 357.51 | 403.54 | -10.69 | 673.15 | -269.61 | 23.85 | 46.03 ...

据国家统计局数据，在2025年的前9个月，河北省规模以上工业企业石脑油产量累计达到了96.4万吨， 与2024年同期的数据相比，下降了30.5%，增速较2024年同期低76.0个百分点，增速较同期全国低29.9 个百分点，约占同期全国规模以上企业石脑油产量5951.8万吨的比重为1.6%。 摘要：【图】2025年9月河北省石脑油产量统计分析 2025年1-9月石脑油产量分析： 图表：河北省石脑油产量分月（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 石油未来发展趋势预测 化工现状及发展前景 日化发展前景趋势分析 润滑油的现状和发展趋势 汽油行业现状与发展趋势 柴油市场现状及前景分析 橡胶市场调研与发展前景 塑料发展现状及前景预测 化妆品市场调研及发展趋势清洁护肤行业监测及发展趋势 图表：河北省石脑油产量分月（累计值）统计 2025年9月石脑油产量分析： 单独看2025年9月份，河北省规模以上工业企业石脑油产量达到了15.7万吨，与2024年同期的数据相 比，9月份的产量下降了9.3%，增速较 ...

在兰州石化职业技术大学的电子电气工程学院实训基地，一排排工业机器人正在运转，屏幕上的数据不 断更新跳动，学生们围绕自动化产线进行调试测试。 "这三周，他们要独立完成一台巡检智能机器人的设计与组装。"电子电气工程学院院长陈鹏说。 理论教学融入工程实践，职业课堂走向真实生产线——这样的场景，正成为这所学校的新常态。 兰州石化职业技术大学是国家与甘肃省第二期"双高计划"建设单位，学校围绕石油化工产业链深化产教 融合、优化专业群结构，积极探索服务产业升级、支撑区域发展的高水平职教新路径。 打造特色培养模式 "以往教学多聚焦单一场景应对技巧，现在更注重系统运行逻辑、综合风险研判和数智化处置工具的运 用。"学院专业教师李有雯在实训现场介绍。依托第二期国家级高水平专业群建设任务，学院打造了特 色鲜明的化工高端技能人才培养模式，打通"高—本—硕"人才培养通道，现开设应用化工技术、煤炭清 洁利用工程、安全工程技术、现代精细化工技术4个本科专业及5个专科专业。学院建有国家级生产性实 训基地3个，建成国家级煤化工技术专业教学资源库，是国家级职业教育"双师型"教师培训基地和第三 批国家级职业教育教师创新团队立项建设单位。 "我们的目 ...

特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 点击注册小程序 查看完整报告 发布日期：2026-02-01 免责声明 2025年以来，石化行业从简单的"减油增化"到强调明确未来高附加值转化的方向，标志着政策进入新阶 段，随着全球石化产能的调整与重组及国内治理"内卷式"竞争行动的展开，未来低价恶性竞争有望被遏 制。炼化方面，炼化扩能接近尾声，炼油红线约束下行业供需有望改善，随着"油转化"、"油转特"加速， 炼化行业有望高质量发展。化纤方面，涤纶长丝新增产能较少，产能结构性优化加速，我们看好龙头企业 市占率和市场竞争力持续增强。在"反内卷"政策持续推进背景下，大炼化行业供需有望持续改善，看好大 炼化行业景气度持续修复。 风险分析： 上游资本开支增速不及预期、原油和天然气价格大幅波动。 全球深海资源战略价值凸显，"三 ...

Group 1 - The core viewpoint of the article emphasizes the expectation of a spring market rally, with potential positive news from both policy and fundamental aspects in the coming months, despite a possible short-term correction before the Spring Festival [5] - The momentum effect is observed in the market, with both momentum and profitability factors yielding positive returns of 0.51%, while Beta and liquidity factors recorded negative returns of -0.81% and -0.41% respectively [5] - A slight increase in the overall A-share market is noted, with major indices showing cautious signals as ETF funds continue to experience net outflows [5][9] Group 2 - Geopolitical uncertainties are driving oil prices upward, with Brent and WTI crude oil futures prices reported at $69.83 and $65.74 per barrel, reflecting increases of 6.7% and 7.3% respectively [7] - The chemical industry is experiencing a recovery, supported by steady macroeconomic data and recent policies aimed at reducing carbon emissions and environmental protection, which are benefiting leading enterprises in the sector [8] - A new policy document aimed at improving the capacity pricing mechanism for power generation has been released, which is expected to promote orderly and fair competition in the energy storage industry [8]

（来源：经济日报） 转自：经济日报 记者从中国石油吉林石化公司获悉，该公司ABS（由丙烯腈、丁二烯、苯乙烯三种单体通过共聚反应形 成的高分子材料）主导产品0215H正式获得UL RTI（相对热指数）认证，标志着产品安全性获得权威认 可。 据介绍，此次UL RTI认证的成功落地，不仅推动吉林石化0215H牌号ABS产品耐热等级实现质的飞跃， 更打破了特定颜色的应用限制，产品可广泛适配家电高温部件、充电桩外壳、汽车内饰件等多场景、多 配色的定制化需求。 近年来，吉林石化聚焦高端产品升级方向，精准对接市场前沿需求，形成以研究院为科技创新主体、生 产厂为成果转化基地的"研究院+4个研发中心+12个生产厂"的科技创新架构。公司拥有16项自主知识产 权成套技术、278件有效发明专利，科研成果转化率超过40%。 ...

Investment Rating - The report indicates a positive outlook for the oil and petrochemical sector, with the sector outperforming the Shanghai Composite Index by +8.40% this week [10]. Core Insights - Geopolitical factors remain the primary driver in the current oil market, with significant attention on the potential for conflict between the US and Iran. The market is pricing in a geopolitical risk premium of approximately $8-10 per barrel related to Iran [15][17]. - The report anticipates that if the situation with Iran does not escalate into a full-blown conflict, oil prices may revert to supply-demand fundamentals, potentially leading to a price decline [15][17]. - The report highlights that the recent cold wave and reduced production in Kazakhstan have slowed the accumulation of global inventories, with expectations of a return to a higher accumulation rate in the coming weeks [17][18]. Summary by Sections Market Review - The oil and petrochemical sector has shown a weekly increase of +7.95%, with specific indices such as the oil and gas resources index rising by +7.79% and the oil and gas extraction services index by +7.96% [10][11]. Oil Sector - As of January 29, WTI crude oil was priced at $65.42, up by $6.06, while Brent crude was at $72.57, up by $6.60. The EIA reported a decrease in commercial crude oil inventories by 2.295 million barrels [16][17]. - The report notes that US crude oil production stands at 13.696 million barrels per day, with a decrease in net imports by 61.8% [16]. Refining Sector - The average operating rate of domestic refineries was reported at 80.02%, with a slight increase of 1.24 percentage points from the previous week. The average refining margin for major refineries was 659.83 yuan per ton, down by 101.65 yuan per ton [16]. Polyester Sector - The PX-Naphtha spread has increased to approximately $340 per ton, with PTA processing fees at 374.32 yuan per ton. The report indicates a decline in profitability for polyester products, with average profit levels for various types of polyester showing negative margins [16]. Olefins Sector - The average price for ethylene in the domestic market was reported at 5769 yuan per ton, a slight decrease of 0.33%. The propylene market saw an increase in average transaction prices to 6400 yuan per ton, up by 3.64% [16].

好消息 2026年2月1日至2月14日 消费者可在云闪付APP领取 满240元减20元 满330元减30元 满440元减40元 中石化夜间出行加油优惠券 夜间固定核销使用时间段为 当日晚22:00至次日5:00 每用户每档活动每周限核销1次 优惠券一次性放出 共发放4万张 消费者在云闪付APP首页,通过"特惠加油"、 "你瞅啥"入口进入中国石化活动专区,即可领取满 240元立减20元、满330元立减30元、满440元立减 40元夜间汽油电子券,夜间固定核销使用时段为当日晚 22:00至次日05:00,每用户每档活动每周限核销1 次;优惠券一次性放出,共发放4万张,优惠券自领取 之日起有效期7天,具体有效期可在"我的-优惠券"查 看,逾期失效,不予补发。 ◆来源：综合整理自云闪付APP 编辑：孙懿辞 初审：梁爽 复审：曹光宇 终审：臧立 2026年2月1日-2026年2月14日 F-Targo F 长春市在营加油站 浦240#20 下载 OF 30 再增加1万张 满440准40 活动内容 ...

Investment Rating - The report indicates a positive outlook for the oil and petrochemical sector, with the sector outperforming the Shanghai Composite Index by +8.40% this week [10]. Core Insights - The oil market is experiencing a rapid increase in prices due to geopolitical risks, particularly concerning Iran's potential actions in the Strait of Hormuz, with a risk premium estimated at $8-10 per barrel [15][16]. - The overall supply remains in excess, with previous supportive factors like cold weather and reduced production in Kazakhstan starting to stabilize [15]. - The report highlights a mixed performance across various segments of the petrochemical industry, with oil and gas resources showing a +7.79% increase, while the polyester index decreased by -1.82% [10]. Summary by Sections Market Review - The petrochemical sector has outperformed the Shanghai Composite Index, with various indices showing significant weekly changes, including the oil and gas extraction service index at +7.96% and the refining and chemical index at +6.75% [10][11]. Oil Market - As of January 29, WTI crude oil closed at $65.42, up $6.06 from the previous week, while Brent crude closed at $72.57, up $6.60 [16]. - The EIA reported a decrease in commercial crude oil inventories by 2.295 million barrels, with a notable drop in gasoline inventories as well [16]. Refining Sector - The average operating rate of domestic refineries increased to 80.02%, with a slight rise in gasoline demand due to seasonal travel [16]. - The average refining margin for major refineries was reported at 659.83 yuan per ton, down 101.65 yuan from the previous period [16]. Polyester Sector - The PX-Naphtha spread has risen to approximately $340 per ton, with PTA processing fees reported at 374.32 yuan per ton [15]. - The report notes a decline in profitability for various polyester products, with average profit levels for POY150D at -21.03 yuan per ton [15]. Olefins Market - The average price for ethylene in the domestic market was reported at 5769 yuan per ton, a slight decrease of 0.33% from the previous week [15]. - Propylene prices in Shandong increased by 225 yuan per ton, reflecting a 3.64% rise [15].

BZ&EB周报：短期EB高位震荡 国泰君安期货研究所·黄天圆 投资咨询从业资格号：Z0018016 日期：2026年02月01日 Guotai Junan Futures all rights reserved, please do not reprint 本周纯苯、苯乙烯总结：短期EB高位震荡 | | • | 纯苯国产：12月检修11万吨，1月检修维持11万吨（假设考虑浙石化检修带来4.5万吨减量），主要是中化泉州、丽东、浙石化等装置检修量大。部分山 | | --- | --- | --- | | 供应 | | 东地炼在解决了配额问题之后仍会提高负荷，弥补部分产量损失。1月关注巴斯夫湛江新投产带来的纯苯增量。 | | | • | 纯苯进口：虽然海外库存压力仍然偏大，但是整体进口量下调。26年1-3月纯苯单月进口量平均约43万吨左右。美韩关税仍在，但是后续美亚芳烃物流在 | | | | 春节后可能继续发生，预估影响每个月3-4万吨纯苯。 | | | • | 苯乙烯：12月检修8.5万吨，1月检修6.5万吨。12月之后装置开工逐步恢复，关注山东国恩化工装置开工带来的增量。 | | | • | 己内酰胺：CPL负 ...