I. Domestic enterprise dynamics and technological innovation
1. Baoshi Machinery's hydrogen energy equipment research and development breakthrough
China Petroleum's Baoji Petroleum Machinery Company has accelerated the layout of the hydrogen energy industry chain. Relying on more than 80 years of equipment manufacturing experience, it has applied for 26 national patents around the entire hydrogen energy industry chain and launched 5 hydrogen energy research and development projects. Its new energy branch is committed to providing system solutions such as hydrogen production plant construction and hydrogen station operation and maintenance, and promoting China Petroleum to become a leading enterprise in the hydrogen energy equipment chain.
2. Qinchuan Machine Tool Intelligent Equipment Upgrade
Qinchuan Machine Tool Group's industrial robot reducer has an annual production capacity of 90,000 sets, and its product performance ranks first in China. Its RV reducer technology provides core support for oil equipment automation and helps the intelligent transformation of the oil and gas industry.
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II. Policy and industry trend continuation
1. The "Energy Law" promotes green transformation
The "Energy Law of the People's Republic of China" implemented on January 1, 2025 continues to affect the industry, requiring the oil industry to optimize the processing and conversion structure and strengthen the clean use of fossil energy. China National Petroleum Corporation, Sinopec and other companies are accelerating the layout of wind, solar, geothermal and hydrogen energy projects. Cases such as the 10,000-acre zero-carbon ecological park in Daqing Oilfield have become benchmarks for low-carbon transformation.
2. Consolidation of the results of oil and gas reserve and production increase
my country's seven-year reserve and production increase plan has achieved remarkable results. Large projects such as Daji Gas Field and West Sichuan Gas Field will be completed in 2024. Deep exploration technology will continue to break through in 2025. The 10,000-meter deep well technology of Tarim Oilfield supports the development of ultra-deep resources.
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III. International dynamic speculation
- Geopolitical risks and supply and demand game
According to historical dialogue data, the contradiction between OPEC+ production increase (such as the UAE's April production increase plan) and the increase in supply from non-OPEC countries still exists. Coupled with the escalation of US sanctions on Russia, international oil prices may continue to fluctuate. Technical indicators show that the support level of Brent crude oil has dropped to the range of US$65-70 per barrel [[Historical dialogue]].
- Clean energy substitution accelerates
The decline in hydrogen storage and transportation costs (green hydrogen costs are expected to be less than $2/kg in 2030) continues to impact traditional oil and gas demand, and refining companies such as Rongsheng Petrochemical are deploying low-carbon technologies through capital operations [[Historical Dialogue]].
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IV. Capital Market Trends
- Energy Blue Chip Stocks Attention
The financing balance of companies such as China Petroleum remains high (reaching 2.395 billion yuan at the end of March), and funds continue to flow into the oil and gas mining sector, reflecting the market's recognition of the resilience of traditional energy transformation [[Historical Dialogue]].