Core Viewpoint - Tongyuan Petroleum (300164.SZ) reported a stable performance in Q3 2025, achieving a revenue of 860 million yuan and a net profit of 56.22 million yuan, reflecting a year-on-year growth of 16.84% despite industry challenges [1] Company Performance - The company maintains a strategic focus on solidifying its oil service business while actively developing clean energy and CCUS initiatives [1] - The successful bid for a project in Algeria, valued at approximately 126 million USD (around 897 million yuan), marks a significant milestone in the company's overseas expansion efforts [1][2] Overseas Market Expansion - Tongyuan Petroleum's long-term commitment to localized operations in Algeria has resulted in nearly a decade of experience, facilitating its recent project win [2] - The partnership with Beijing Yilong Hengye Petroleum Engineering Technology Co., Ltd. has strengthened the company's local market integration, with transaction revenues increasing from 18.05 million yuan in 2022 to 160 million yuan in 2024 [2] Industry Trends - The oil service industry is experiencing favorable conditions, with increased procurement of oil service equipment by oil companies, leading to a rise in industry demand [2] - Saudi Aramco's announcement of 85 new projects over the next three years is expected to further boost global oil service market demand [2] Domestic Market Opportunities - The domestic oil service sector is poised for growth, supported by significant discoveries in oil and gas reserves, which align with national production targets [3] - The Ministry of Natural Resources' ongoing exploration initiatives are likely to enhance the operational landscape for companies like Tongyuan Petroleum [3] Future Outlook - The company's strategy of solidifying its oil service business while expanding into clean energy is expected to gain momentum as overseas projects materialize and domestic demand remains stable [3] - The combination of overseas growth and domestic stability is anticipated to provide sustained momentum for the company's future development [3]

Core Insights - Tongyuan Petroleum has successfully won a bid for a project in Algeria, marking a significant breakthrough in its energy market strategy along the Belt and Road Initiative, with a contract value of approximately $126 million over four years [1][2] Group 1: Project Details - The project involves early production measures and gas compression services at oil and gas fields under Sonatrach, Algeria's national oil company, focusing on enhancing oil and gas output efficiency and ensuring stable domestic energy supply and export [2][3] - Sonatrach is recognized as Africa's largest oil company and ranks 12th globally, providing strong assurance for project execution due to its financial strength and industry reputation [2][3] Group 2: Market Potential - Algeria is the largest natural gas producer in Africa and the second-largest oil producer, with proven oil reserves of 12.2 billion barrels and natural gas reserves of 4.5 trillion cubic meters, positioning it strategically in the global energy market [3][4] - China has become Algeria's primary trading partner, with direct investments reaching $4.5 billion in 2024 across 22 projects, highlighting the growing collaboration between Chinese enterprises and Algeria in the energy sector [3][4] Group 3: Strategic Implications - The successful bid reflects Tongyuan Petroleum's strong technical capabilities and its strategy to extend domestic business operations internationally, particularly in North Africa [4][5] - The project is expected to solidify the company's position in the natural gas processing sector and support its long-term goals of enhancing oil services and developing clean energy [5]

格隆汇10月16日丨通源石油(300164.SZ)公布，近日，通源石油科技集团股份有限公司收到业主方 SonatrachSPA(阿尔及利亚国家石油公司（简称"Sonatrach"）发送的UnitésEPFetcompressiondegaz(油气田 早期生产措施和天然气压缩机服务，简称"本项目")的项目中标通知书。中标金额包括美元及阿尔及利 亚第纳尔两部分，分别为104,646,960.00美元和2,762,755,600.00阿尔及利亚第纳尔（合计约1.26亿美元或 者8.97亿元人民币），合同周期为四年。 ...

通源石油公告，近日收到业主方Sonatrach SPA发送的油气田早期生产措施和天然气压缩机服务项目的中 标通知书。中标金额包括1.05亿美元和27.63亿阿尔及利亚第纳尔，合计约1.26亿美元或者8.97亿元人民 币，合同周期为四年。该项目旨在提高油气产出和处理时效，保障国家油气使用和出口需求，包括土木 工程、油气回收处理和增压设备机组的安装和调试以及运维等。此次中标标志着公司通源海外战略实现 重大突破，为后续获取更多订单奠定坚实基础。 ...