三、确立多元天然气储备责任体系，强化市场调节能力 一、坚持规划引领，统筹 "全国一张网" 《管理办法》参照《能源法》体例，将基础设施规划以专章形式予以明确，突出全国石油天然气规划的宏观引领作用，并 强调规划编制必须与国土空间规划及相关区域规划实现实质性对接。此举旨在从源头上破解长期制约项目落地的土地、用 海、生态保护红线等关键要素协调难题，推动油气基础设施布局全面融入国家空间治理体系，实现更高水平的统筹与协 同。同时，《管理办法》明确规定，所有跨境、跨省干线管道及新增连通项目，均须统一纳入全国规划后方可实施。此举 是国家强化油气统筹治理的刚性举措，旨在从根源上杜绝管网分割与重复建设，是构建高效贯通 "全国一张网"的根本保 障。 二、深化输销业务分离，破解 "最后一公里"瓶颈 本次修订的核心举措在于强制实施输销业务分离。《管理办法》首次明确了 "承担国家石油天然气干线建设主体责任的企 业"这一主体范畴，并严格限定其经营范围，禁止涉足油气勘探开发、进出口、生产销售等竞争性业务；同时规定，从事竞 争性业务的企业亦不得参与干线管道投资与运营。通过彻底厘清干线管输与生产销售之间的业务边界，打破纵向一体化垄 断格局，为实 ...

Group 1 - The domestic gasoline and diesel prices are expected to decrease by 50 yuan per ton due to a change in the average price of crude oil, which is currently at 61.83 USD per barrel with a change rate of -0.97% [1] - MSCI announced the inclusion of 17 new stocks and the removal of 16 stocks from the MSCI China A-share index, effective after the market closes on November 24, 2025 [2] - Huawei is set to hold a product launch event for the Mate 80 series and other products on November 25, 2023, featuring four models: Mate 80, Mate 80 Pro, Mate 80 Pro Max, and Mate 80 RS [3] Group 2 - Over 200 billion yuan worth of restricted shares will be unlocked next week, with Southern Airlines leading the list at 56.89 billion yuan, followed by Huadong Holdings at 17.42 billion yuan and Sains at 14.49 billion yuan [5] - The peak of share unlocks will occur on November 24, 2023, with 40 companies having their restricted shares released [5][6][7] Group 3 - Two new stocks are set to be issued next week: Moer Thread on November 24 at an issue price of 114.28 yuan per share, and Bai Ao Sai Tu on November 28 [8][9]

Core Insights - The Shanshan-Lanzhou pipeline has transported over 200 million tons of crude oil as of November 21, supporting national energy supply diversification and economic development in the central and western regions [1][2]. Group 1: Pipeline Overview - The Shanshan-Lanzhou pipeline, a crucial part of the western oil and gas energy strategy, spans 1,541 kilometers from Shanshan County in Xinjiang to Lanzhou in Gansu, with a designed capacity of 20 million tons per year [2]. - Since its commissioning in 2007, the pipeline has operated safely for 18 years, increasing its oil transport capacity from an initial 1,000 cubic meters per hour to over 2,000 cubic meters per hour [2]. - The pipeline has evolved from transporting four types of crude oil sequentially to a more efficient mixed oil transport system, showcasing advancements in long-distance crude oil pipeline technology and management [2]. Group 2: Resource Connectivity - The Shanshan-Lanzhou pipeline connects resource bases in Xinjiang with markets in central and eastern China, facilitating the transport of crude oil from major oil fields and Central Asian resources to key locations such as Yumen, Lanzhou, and Chengdu [2]. - The resources transported via the Shanshan-Lanzhou pipeline are refined by petrochemical companies and further distributed through the national pipeline network to provinces including Shaanxi, Henan, Sichuan, Chongqing, Hubei, and Hunan, thereby extending the downstream industrial chain [5].

Core Viewpoint - The stock of Heshun Petroleum (603353) has experienced a significant decline, with a closing price of 30.59 yuan on November 21, 2025, down 8.41% from the previous day, indicating a concerning trend in its market performance [1]. Financial Performance - For the first three quarters of 2025, Heshun Petroleum reported a total revenue of 2.126 billion yuan, a slight decrease of 0.13% year-on-year [3]. - The net profit attributable to shareholders was 21.81 million yuan, reflecting a substantial decline of 49.44% compared to the same period last year [3]. - The company's net profit after deducting non-recurring items was 10.90 million yuan, down 65.95% year-on-year [3]. - In Q3 2025 alone, the company generated a revenue of 670 million yuan, a decrease of 11.23% year-on-year, with a net profit of 7.76 million yuan, down 50.65% [3]. Market Position - Heshun Petroleum's total market capitalization stands at 5.259 billion yuan, ranking 12th in the industry, while the industry average is 215.4 billion yuan [3]. - The company's price-to-earnings ratio (P/E) is 180.86, significantly higher than the industry average of 33.34, placing it 14th in the industry ranking [3]. - The gross margin for Heshun Petroleum is 7.64%, which is below the industry average of 18.66%, ranking 15th [3]. - The net profit margin is 1.02%, considerably lower than the industry average of 4.47%, ranking 61st [3]. Capital Flow - On November 21, 2025, the net outflow of main funds was 56.93 million yuan, accounting for 15.14% of the total transaction volume [1][2]. - Retail investors showed a net inflow of 61.85 million yuan, representing 16.44% of the total transaction volume on the same day [1][2]. - Over the past five days, the stock has seen fluctuating capital flows, with notable outflows from main and speculative funds [2].

"预计本轮成品油零售限价压线小幅下调概率较大，折合升价，汽、柴油下调幅度或在0.05元／升左 右。对于广大消费者而言，加满一箱50升的92号汽油，预计将节省2.5元左右，整体变化有限。"王芦青 补充说。 （文章来源：新华财经） 据卓创资讯分析师王芦青具体介绍，本计价周期以来，受美俄最新有关俄乌冲突的消息影响，油价在宽 幅波动中承压调整，地缘溢价继续回吐。不过，周内公布的美国原油库存数据显示上周美国商业原油意 外去库，且美国单周的汽油需求和馏分油需求环比也出现增加，表明美国石油基本面短期偏强，支撑油 价。在上述因素影响下，本周期原油价格宽幅震荡，对应的原油变化率在负值范围内低位波动。据卓创 资讯测算，截至11月20日收盘，国内第9个工作日，参考原油变化率-1.24%，预计汽柴油下调55元／ 吨，调价窗口11月24日24时。 本计价周期（2025年11月10日24时至2025年11月24日24时）以来，国际原油呈现宽幅震荡行情，受此影 响，国内参考的原油变化率在在负值范围内波动，第9个工作日计算后的下调幅度在55元／吨，略高于 50元／吨的成品油调价红线。考虑到目前距离调价窗口仅剩一个工作日，且原油或继续低位震荡 ...

【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 本计价周期内，原油价格宽幅震荡，变化率负值开局后小幅波动。据卓创资讯监测模型显示，截至11月 20日收盘，原油变化率为-1.24%，对应的成品油零售限价下调幅度在55元/吨。距调价窗口开启仅剩一 个工作日，且近期原油价格整体低位运行，因此11月24日24时，国内成品油零售限价或遇压线下调。在 降价预期及需求薄弱的情况下，短期国内汽、柴油批发市场价格将整体承压。 成品油：零售限价下周一或压线下调 ...

| [ 索引号 ] | 11500000MB17643950/2025-00425 | [ 发文字号] | 无 | | --- | --- | --- | --- | | [主题分类] | 市场监管、安全生产监管 | [ 体裁分类] | 公告公示 | | [ 发布机构 ] | 市市场监管局 | | | | [成文日期] | 2025-11-13 | [ 发布日期 ] | 2025-11-20 | 中国质量新闻网讯 据重庆市市场监督管理局网站消息，2025年，重庆市市场监督管理局组织成品油等31种产品质量监督抽查。现将抽查情况通报如下： 一、基本情况 本次抽查产品为成品油等31种产品。共发现不合格产品150批次。在不合格产品中，成品油2批次，儿童用品1批次，建筑用玻璃2批次，骑行安全类头盔5 批次，消防产品4批次，仿真饰品3批次，钢筋机械连接用套筒3批次，家用燃气用具2批次，木门3批次，塑料排水管材及管件12批次，乘用车汽车减振器5 批次，防盗安全门6批次，建筑钢材3批次，液化石油气和城镇燃气用二甲醚6批次，床上用品2批次，户外纺织品及鞋类6批次，油漆及汽车涂料2批次，电 动自行车及其相关产品5批次，家用电器（ ...

原油成品油早报 研究中心能化团队 2025/11/21 | 日期 | WTI | BRENT | DUBAI | diff FOB dated bre | BRENT 1- 2月差 | WTI-BREN T | DUBAI-B RT（EFS | NYMEX RB OB | RBOB-BR T | NYMEX HO | HO-BRT | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | nt | | | | | | | | | 2025/11/14 | 60.09 | 64.39 | 65.18 | -1.00 | 0.47 | -4.30 | -0.05 | 201.16 | 20.10 | 253.11 | 41.92 | | 2025/11/17 | 59.91 | 64.20 | 65.00 | - | 0.44 | -4.29 | 0.12 | 199.01 | 19.38 | 254.70 | 42.77 | | 2025/11/18 | 60.74 | 64.89 | 65.20 ...

聚烯烃产业期现日报 投资咨询业务资格:证监许可【2011】1292号 2025年11月21日 张晓秘 Z0003135 | 品种 | 11月20日 | 11月19日 | 涨跌 | 涨跌幅 | 单位 | | --- | --- | --- | --- | --- | --- | | L2601收盘价 | ୧୫32 | 6833 | 2.00 | 0.03% | | | L2605 收盘价 | 6883 | 6883 | 0.00 | 0.00% | | | PP2601 收盘价 | 6400 | 6434 | -34.00 | -0.53% | | | PP2605 收盘价 | 6513 | 6532 | -19.00 | -0.29% | | | L15价差 | -48 | -50 | 2.00 | 4.00% | | | PP15价差 | -113 | -98 | -15.00 | -15.31% | 元/吨 | | LP01价差 | 435 | 399 | 36.00 | -9.02% | | | 华东PP拉丝现货价格 | 6380 | 6400 | -20.00 | -0.31% | | | 华北LLD ...

证券之星消息，截至2025年11月20日收盘，泰山石油(000554)报收于7.0元，下跌2.78%，换手率 5.61%，成交量20.36万手，成交额1.44亿元。 11月20日的资金流向数据方面，主力资金净流出1918.38万元，占总成交额13.34%，游资资金净流出 91.6万元，占总成交额0.64%，散户资金净流入2009.97万元，占总成交额13.97%。 近5日资金流向一览见下表： | | | | | 日期 收盘价 涨跌幅 主力净流入 主力净占比 游资净点比 游资净占比 散户净占比 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-11-20 | 7.00 | -2.78% | -1918.38万 | -13.34% | -91.60万 | -0.64% | 2009.97万 | - 13.97% | | 2025-11-19 | 7.20 | 1.12% | 756.92万 | 4.45% | 245.71万 | 1.45% | -1002.63万 | -5.90% | | 2025-11-18 | 7 ...