Group 1 - The article highlights the significant transformation in the global energy landscape, particularly in the Middle East, which is at the forefront of energy change, balancing traditional hydrocarbon resources with a rapid shift towards green energy [1] - Major oil and gas producers in the region, such as Saudi Arabia, UAE, Qatar, and Oman, are making substantial investments to diversify their economies, channeling "petrodollars" into renewable energy, green hydrogen, carbon capture and storage, and digital energy networks [1] - The upcoming 2025 Middle East Energy Investment Forum aims to explore new opportunities, developments, and collaborations in the energy sector, facilitating resource matching and project implementation [1][3] Group 2 - The forum will take place on December 4, from 9:00 to 11:30, at the People's Daily New Media Building in Beijing, focusing on topics such as the explosion of the new energy industry and investment potential in the Middle East [4] - Key discussions will include energy financial innovation, the role of technology and digitalization in Middle Eastern energy projects, and legal and risk management strategies for investments in the region [4] - The forum is part of the larger "2025 Eighth China Energy Industry Development Annual Conference," which serves as an important platform for promoting national energy strategy transformation and high-quality development [6][7]

注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不 预示未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参 考，不构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险 等级相匹配的产品。基金有风险，投资需谨慎。 每日经济新闻 （责任编辑：董萍萍 ） 【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 油价中枢存在底部支撑，石油ETF（561360）涨超1.5%。 华泰证券表示，全球新能源替代稳步推进，叠加2025Q4起OPEC+实际供应增量或将集中释放，以 及南美等低成本增量供给投放，全球原油供应过剩压力或将凸显，维持2025-2026年布伦特原油均价预 测为68美元/桶、62美元/桶，预测2025Q4-2026Q2布伦特均价为63美元/桶、61美元/桶、60美元/桶。中 长期而言，产油国"利重于量"诉求未改 ...

Group 1 - China has announced the inclusion of non-CO2 greenhouse gases in its 2035 Nationally Determined Contributions (NDC), requiring significant domestic efforts and a favorable international environment to achieve this goal [1] - The NDC target aims for a 7%-10% reduction in total greenhouse gas emissions from peak levels by 2035, reflecting China's commitment to controlling non-CO2 greenhouse gas emissions as part of the Paris Agreement [1] - Effective control of non-CO2 greenhouse gas emissions is crucial for global climate change mitigation and is a key component of achieving the Paris Agreement goals [1] Group 2 - China's "dual carbon" policy has seen significant progress in controlling non-CO2 greenhouse gases, with the introduction of voluntary emission reduction trading mechanisms and other economic incentive policies [2] - Research support is needed for emission scenarios and cost-benefit analyses related to non-CO2 greenhouse gas reduction strategies, particularly for methane [2] - Methane, nitrous oxide, and sulfur hexafluoride have greenhouse effects that are significantly more potent than CO2, making their reduction essential for limiting global warming [2] Group 3 - In agriculture, the implementation of water-saving drought-resistant rice cultivation has achieved an average methane reduction rate of 97%, with a comprehensive greenhouse effect reduction of up to 92% [3] - The China Oil and Gas Methane Emission Control Alliance has expanded to 10 member companies, making significant advancements in methane control strategies and monitoring systems over the past four years [3] Group 4 - The Pingmei Shenma Group has developed an industrial nitrous oxide reduction facility, achieving a CO2 equivalent reduction of 11.6 million tons annually, with a reduction rate of 98% [4] - State Grid Corporation has showcased its technology for controlling sulfur hexafluoride emissions, achieving a recovery rate of 97% and recycling over 2,600 tons of sulfur hexafluoride by 2024 [4] - Hitachi Energy has introduced a digital management system for the entire lifecycle of sulfur hexafluoride, exploring practices based on alternative gas technologies [4]

11月18日，四川省人民政府与中国石油天然气集团有限公司在成都签署战略合作协议。省委书记、省人 大常委会主任王晓晖，省委副书记、省长施小琳会见中国石油集团董事长、党组书记戴厚良一行，并共 同见证协议签署。 签署仪式上，副省长任京东与中国石油集团副总经理张道伟，分别代表双方签署《四川省人民政府中国 石油天然气集团有限公司战略合作协议》。根据协议，双方将立足推进川渝千亿方国家油气生产基地建 设，围绕油气资源勘探开发、石化产业绿色低碳转型发展、能源基础设施建设、油气科技创新平台打造 等领域开展务实合作，携手构建服务国家战略、提升企业效益、推动地方发展的能源开发新格局。 省委常委、秘书长陈炜，省直有关部门负责同志等参加会见或签署仪式。 会见中，双方围绕贯彻落实党的二十届四中全会精神，积极抢抓成渝地区双城经济圈建设等重大机遇， 就不断健全完善央地互利合作机制，加快推进川渝千亿方国家油气生产基地建设，共同推动能源供应保 障能力提升、能源产业建圈强链、关键核心技术攻关、新型能源体系构建，更好服务国家重大战略实 施、助力四川经济社会高质量发展等交换了意见。 ...

News Focus - The Ministry of Industry and Information Technology (MIIT) has announced a list of 34 enterprises and 30 products (technologies) to be included in the "National Industrial Power Demand Side Management Typical Cases (2025)" [2] - The MIIT has also publicized the list of members for the Green Low-Carbon Standardization Technical Committee to gather public opinions [2] Domestic News - The first "Hualong One" nuclear power unit with a cooling tower has commenced construction, expected to generate 50 billion kWh annually, meeting the electricity needs of approximately 5 million people and reducing coal consumption by about 15.27 million tons and CO2 emissions by around 46.2 million tons [2] - During the 14th Five-Year Plan period, Shanxi Province is set to establish over 80 provincial-level energy technology innovation platforms with an R&D investment of approximately 5 billion yuan [2] - The Xinjiang oilfield has injected over 2 million tons of CO2 in its carbon capture and storage project, marking significant progress in promoting green and low-carbon development [3] - The Tarim Oilfield's first gas storage facility has begun gas extraction, supplying about 60,000 cubic meters of natural gas per hour to the southern Xinjiang pipeline [3] - The Daqin Railway has maintained a high coal transportation volume, exceeding 1.2 million tons daily, with a total coal transport of 21.17 million tons in November [3] International News - Two nuclear power plants in Ukraine have been operating at reduced capacity for ten days due to damage to a substation from military attacks, highlighting the importance of reliable external power for nuclear safety [4] Company News - China National Petroleum Corporation (CNPC) has established a new company focused on electricity, aiming to integrate internal power generation and consumption resources to build a comprehensive energy supply system centered on the electricity value chain [5] - The Gansu Electric Power Investment Zhangye Power Plant has officially commenced operation of its newly expanded 2×1000 MW coal-fired units, contributing to the clean energy base in the Hexi Corridor [5]

民间资本投资再有新领域。 日前，国务院办公厅印发《关于进一步促进民间投资发展的若干措施》（简称"民间投资13条"），围绕拓宽投资空间、强化服务保障等方面推出13条具体举 措。 倍受关注的点是，明确鼓励民间资本参与铁路、核电、跨省输电通道、油气管道等一批重大基础设施项目，并提出"民间资本持股比例可在10%以上"的量化 指标。 这意味着，民营企业不再仅是项目建设的参与者，更有望以股东身份进入重大基础设施领域，分享其长期稳定的投资回报。 长期以来，民营企业参与重大项目建设一直是社会关注的热点，但受制于项目少、准入门槛高、融资渠道窄等多重障碍，民间资本在铁路、核电等国有资本 主导的领域中往往难以实质性进入。 与此同时，根据国家统计局数据，当前民间投资形势受房地产拖累，2025年1-10月民间投资增速为-4.5%，其中房地产开发投资同比下降14.7%。 在这一背景下，"民间投资13条"的出台不仅是对民间投资短期下滑的积极应对，更是要通过激发民营企业的活力，增强经济发展的内生动力，进一步释放内 需潜力。 制造业韧性强劲 在我国固定资产投资中，基建、制造业与房地产长期占据主导地位。国有部门高度集中于基建，而民间资本则主要在 ...

文 /柴裕红 王子昕 随着共建"一带一路"倡议走向高质量发展的新阶段，中亚地区作为共建的重要区域，其投资吸引力不断增强。同时，该地区在能源、基础设施以及新兴市场 等领域的迅速发展，对中国对外开放具有重要的战略意义。 不过与投资机遇并存的是法律风险。中亚各国法律脱胎于苏联法系，正经历法律体系的转型与重构，形成了兼具大陆法系特征、本土化改革元素及伊斯兰传 统的独特法律生态。中亚各国在法治水平、监管质量方面存在的问题，主要体现在法律不稳定、执法标准不一致、行政效率低等方面，给外企经营造成一定 困难。 2.国家安全审查机制的自由裁量 中企投资中亚的具体法律风险 （一）市场准入与企业设立阶段 1.外资准入的行业限制 中亚各国大多采用"负面清单"的管理模式来吸引外资、控制外资。以哈萨克斯坦为例，其有关法律严格限制国家利益相关领域投资的外商准入条件。如在 《地下资源及地下资源利用法》中，哈萨克斯坦政府对于矿产、油气等战略资源项目的开发保留了在某些情形下单方面修改或终止合同的权利，并对外资参 与此类项目设置了严苛的审批程序和股权比例限制。这表明，清单外的行业并不意味着绝对安全，"国家安全"等弹性概念在实践中拥有巨大的解释空间 ...

Resource Advantages - Bazhong has abundant oil and gas resources, with a mineral rights area of 10,149.5 square kilometers, accounting for 82.5% of the total area [4][5] - The geological natural gas reserves are 1.4 trillion cubic meters, with proven reserves of 146.116 billion cubic meters [4][5] - The shale oil prospective resource is approximately 2.5 billion tons, with plans to submit proven reserves of 50 million tons this year [4] Development Progress - The city plans to invest 2.626 billion yuan in exploration this year, with 1.692 billion yuan completed from January to October, a year-on-year increase of 63.5% [5][6] - As of October, there are 101 oil and gas wells in the city, an increase of 10 wells compared to the same period last year; 28 new wells were drilled, an increase of 7 wells [5][6] Project Acceleration - The Sichuan Energy Investment Bazhong (Tongjiang) gas power generation project is 85% complete and is expected to start operation by the end of the year, with a total installed capacity of 960,000 kilowatts [6][8] - The project will utilize local natural gas for power generation, with an expected annual output of 2.371 billion kilowatt-hours, saving approximately 196,000 tons of standard coal and reducing carbon dioxide emissions by about 810,000 tons [6] Industrial Development - The Bazhong Zengkou-Jintang Chemical Park has been officially approved, focusing on the clean utilization of natural gas and fine chemicals, with a total investment of approximately 13.15 billion yuan for 13 key projects [9][10] - The city aims to achieve a chemical industry output value of 10 billion yuan by 2027, actively promoting investment in the chemical park [9][10] Strategic Initiatives - The Bazhong Energy Development Group has been established to accelerate the construction of a trillion-level energy chemical industry cluster, participating in all aspects of oil and gas resource exploration, development, transformation, and utilization [10]

Core Points - The discussion at COP30 in Brazil focused on launching the "Global Methane Pledge" to rapidly control global warming, highlighting the failure of many countries to reduce methane emissions at the necessary pace since the COP26 climate summit [1] - Methane has a warming effect 80 times greater than carbon dioxide and has contributed to approximately 30% of the global temperature increase since the Industrial Revolution [1] - The energy sector accounts for over 35% of human activity-related methane emissions, indicating that transitioning from fossil fuels to green energy could significantly aid in emission reductions [1] Summary by Sections Commitment and Goals - The "Global Methane Pledge," led by the US and EU, was initiated in 2021 and has been signed by 111 countries, collectively responsible for 45% of global anthropogenic methane emissions [1] - The core objective is to reduce methane emissions by at least 30% from 2020 levels by 2030, marking the first commitment to methane reduction policies for some signatory countries [1] Challenges and Constraints - The commitment faces challenges due to a severe lack of binding measures, resulting in a situation characterized by "heavy planning, heavy monitoring, but light enforcement and implementation" [2] - Although the US and EU required participating countries to develop or update national methane reduction action plans by COP27 in 2022, specific action measures were not clearly defined [2] Monitoring and Reporting - The UN has established a methane emissions monitoring and reporting mechanism for oil and gas companies, with 154 participating companies covering about 42% of global oil and gas production [2] - Despite this, the reported methane emissions from these companies are projected to increase by 250,000 tons in 2025 compared to the previous year, indicating that current reduction rates are insufficient to meet the 2010 targets [2] Industry Response - Some energy companies are beginning to enhance the quality of methane reporting, emphasizing that reliable, measurement-based data is crucial for effective emission reductions and tracking progress towards climate goals [2]

Core Insights - Despite the Trump administration's relaxed approval processes and the rollback of climate and export restrictions, the "Drill, baby, drill" strategy has not become the core approach in the U.S. shale oil sector. Most producers are not increasing drilling but are instead focusing on efficiency improvements and activating previously drilled but unfinished wells (DUC wells) to expand production [1][2] - The current regulatory environment for the oil and gas industry is unprecedentedly lenient, with the Trump administration reversing Biden-era policies, restarting federal oil and gas lease sales, opening drilling in the Arctic National Wildlife Refuge, and lifting the ban on liquefied natural gas export approvals. However, the reality of oil prices around $60 has rendered the "Drill, baby, drill" concept ineffective [1] - The total number of drilling rigs has decreased to 546, down 39 rigs from the same period last year, indicating signs of stagnation in the industry [1] - The $60 price point is seen as a critical threshold for the shale oil industry, with executives from Total Energy and ConocoPhillips indicating that production growth will inevitably slow at this price level. If prices fall to the $50 range, production is likely to decline further [1] - Producers are adopting a "do more with less" strategy, focusing on cost reduction and efficiency to maximize cash flow, rather than blindly increasing drilling activity. Companies are optimizing capital allocation and compressing breakeven points to ensure dividend and debt repayment capabilities [2] - The influence of government policy support is overshadowed by oil price dynamics, with industry experts stating that the "Drill, baby, drill" approach has completely failed, as current price levels do not support expansion [2] - While companies acknowledge the government's regulatory easing, uncertainties related to trade tariffs and presidential price pressure create unease within the industry [3]