Group 1 - China National Offshore Oil Corporation (CNOOC) has completed the Dasha Petrochemical Refining and Chemical Integration Project in Ningbo, Zhejiang, with a total investment of 21 billion yuan. The core facility has an annual capacity of 3.2 million tons, producing 1.2 million tons of ethylene and propylene, essential raw materials for everyday products [2] - The X-37B spaceplane of the U.S. Space Force has been launched from Cape Canaveral, Florida, to test communication and navigation technologies, including a laser communication demonstration and an advanced navigation system based on quantum inertial technology [2] - Air Liquide, a French industrial gas company, has signed an agreement to acquire South Korean industrial gas manufacturer DIG Airgas for an enterprise value of 2.85 billion euros (4.6 trillion won), with the transaction expected to be completed in the first half of 2026 [2]

Company Overview - As of August 22, China National Offshore Oil Corporation (CNOOC) shares were priced at 25.66 yuan, down 0.11 yuan or 0.43% from the previous trading day [1] - The company has a total market capitalization of 12196.19 billion yuan and a price-to-earnings ratio of 8.34 times [1] - CNOOC is a major producer of offshore oil and natural gas in China, with operations in oil and gas exploration and development, technical services, refining and sales, natural gas and power generation, and financial services [1] Project Development - CNOOC's integrated refining and petrochemical project in Dasha, Ningbo, was fully completed on August 22, with a total investment of 21 billion yuan [1] - The core facilities of the project have an annual production capacity of 1.2 million tons of polymer-grade ethylene and propylene, increasing the total annual olefin production capacity to 1.8 million tons [1] - The project utilizes a self-developed heavy oil direct cracking technology with a 100% domestic production rate, expected to reduce carbon dioxide emissions by 200,000 tons annually [1] Market Activity - On August 22, the net outflow of main funds was 62.8953 million yuan, accounting for 0.08% of the circulating market value [1] - Over the past five trading days, the cumulative net outflow reached 311 million yuan, representing 0.41% of the circulating market value [1]

Core Viewpoint - China National Offshore Oil Corporation (CNOOC) announced the completion of the Dasha Petrochemical Refining and Integration Project in Ningbo, Zhejiang, which is significant for enhancing the efficient conversion of heavy oil and improving the self-sufficiency of high-end chemical materials [2]. Investment and Production Capacity - The total investment for the project is 21 billion yuan, with core facilities having an annual production capacity of 3.2 million tons [2]. - The project can produce 1.2 million tons of polymer-grade ethylene and propylene annually, which are essential raw materials for everyday products such as mineral water bottles, food packaging bags, and synthetic clothing [2]. Industry Impact - The Dasha Petrochemical project will increase the annual production capacity of olefins to 1.8 million tons, making it the largest heavy oil direct conversion to olefins production base in the country [2]. - The completion of this project will further enhance China's core chemical process and equipment self-construction capabilities, leading the petrochemical industry towards refinement and greening [2].