Summary: Recently, the
China Petroleum Enterprise Association released the "Top Ten News in the
Petroleum and Petrochemical Industry for 2024" for the twelfth consecutive
year, covering energy security strategies, laws and regulations, oil and gas
resource development, low-carbon transformation, technological innovation,
industrial base construction, oil and gas pipeline construction, digital
transformation, and corporate comprehensive strength, among other areas. It
encompasses policy guidance, resource development and utilization, green
development, technological innovation, infrastructure construction, and
enterprise development.
Energy Security Strategy Guides Industry Growth
Recently,
China's petroleum and petrochemical industry has achieved remarkable outcomes
under the guidance of a new energy security strategy. By implementing a series
of innovative measures, the industry has not only enhanced energy supply
capacity but also actively promoted green and low-carbon development, providing
robust support for national energy security. This strategy has also pointed the
way forward for the future development of the petroleum and petrochemical
industry.
Energy Law Passes, Providing Legal Safeguards for Industry
After extensive
preparation and deliberation, China's Energy Law has officially passed. This
law provides a legal foundation and action guide for the transformation and
development of the petroleum and petrochemical industry, ensuring healthy and
orderly industry growth. Additionally, the law's enactment provides a clearer
and more regulated framework for enterprises competing in international
markets.
Significant Increases in Oil and Gas Reserves and Production
Over the past
year, China's oil and gas industry has made significant strides in increasing
reserves and production. Through the implementation of a seven-year action
plan, the industry has discovered multiple large oil and gas fields and
established several production areas. These achievements have not only boosted
the overall competitiveness of China's petroleum and petrochemical industry but
also provided more opportunities for international cooperation among
enterprises.
Accelerated Low-Carbon Transformation in Petroleum and Petrochemical
Industry
With increasing
global emphasis on environmental protection, China's petroleum and
petrochemical industry is accelerating its low-carbon transformation. Anchored
to the "dual carbon" goals, the industry is accelerating the
development of new energy businesses and has established organizations such as
the Energy and Chemical Industry Carbon Footprint Alliance. These initiatives
not only help reduce carbon emissions but also provide strong support for
enterprises to compete in international green markets.
Breakthrough in Drilling Technology for Ultra-Deep Scientific Exploration
Wells
China has
recently achieved a significant breakthrough in drilling technology for
ultra-deep scientific exploration wells, with a well designed to exceed 10,000
meters in depth successfully reaching that milestone. This technological
breakthrough not only showcases China's leadership in drilling technology
within the petroleum and petrochemical industry but also provides technical
support for enterprises participating in international deep-sea oil and gas
resource development. In the future, this technology is expected to play an
even more crucial role in international markets.
Establishment of Largest Petrochemical Industrial Base
China's largest
petrochemical industrial base has been completed in Ningbo, Zhejiang Province,
following the full completion of the Sinopec Zhenhai Refining and Chemical
Second Phase Expansion and Advanced New Materials Project. The establishment of
this industrial base not only enhances the overall strength of China's
petroleum and petrochemical industry but also provides a more solid foundation
for enterprises to compete in the international petrochemical market.
Innovative Deepwater Oilfield Development Model
China has
successfully commissioned its first deepwater oilfield secondary development
project, pioneering a new development model combining deepwater jacket
platforms with cylindrical FPSOs. The successful implementation of this model
not only provides valuable experience and technical support for China's
petroleum and petrochemical industry to participate in international deepwater
oil and gas resource development but also provides stronger safeguards for
enterprises competing in international markets.
Accelerated Oil and Gas Pipeline Construction
To enhance
energy transportation capacity, China has accelerated the construction of oil
and gas pipelines over the past year. With over 4,000 kilometers of new
pipelines added, gas transmission capacity has significantly increased. This
measure not only helps ensure national energy security but also provides a more
convenient channel for enterprises to participate in international energy
trade.
Digital Transformation and Intelligent Development
With the
continuous development of technology, China's petroleum and petrochemical
industry is accelerating its digital transformation and intelligent
development. The industry has launched multiple large-scale artificial
intelligence models and smart factories, improving production efficiency and
product quality. These initiatives not only enhance the industry's overall
competitiveness but also provide more advanced technical support for
enterprises competing in international markets.
Multiple Enterprises Ranked Among China's Top 500 Enterprises
In the recently
released list of China's Top 500 Enterprises, multiple petroleum and
petrochemical enterprises successfully ranked among the top. These enterprises
not only possess substantial capital and technical strength but have also
achieved significant outcomes in international markets. The increase in the
number of ranked enterprises not only showcases the overall strength of China's
petroleum and petrochemical industry but also provides a more solid foundation
for enterprises to compete in international markets.
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