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On March 26, the 2nd Innovation Forum on the Transformation, Upgrading and Development of the Refining and Chemical Industry in 2026 was held in Beijing. It was organized by CNOOC Refining & Chemical Co., Ltd. (hereinafter referred to as CNOOC Refining & Chemical) and hosted by CNOOC Research Institute of Chemical Engineering and New Materials (hereinafter referred to as CNOOC Research Institute). The reporter learned from the forum that China’s refining and chemical industry is at a historical turning point, transitioning from scale expansion to value creation. Many experts present reached a consensus: developing new chemical materials is an important pathway to achieving higher added value. Drawing on the practical achievements of CNOOC’s refining and chemical sector, Liu Jianzhong, CNOOC’s deputy chief engineer as well as chairman and party secretary of CNOOC Refining & Chemical, shared three perspectives: First, it is essential to fully understand the underlying logic of change in the refining and chemical industry – the shift from scale-driven development to innovation-driven development is not only an inevitable path but also a strategic choice. Second, it is to grasp the core mission of China National Offshore Oil Corporation’s refining and petrochemical industry, leverage its marine advantages to foster new forms of productive capacity, and serve relevant **strategies. Third, we must firmly pursue the path of innovation, using scientific research partnerships as a link to establish an innovative system characterized by deep integration of industry, academia, research, and application. “Future competition will no longer be a contest of production capacity, but rather a comprehensive battle among innovation systems, value chains, and ecological capabilities. Whoever makes breakthroughs first in basic research and secures a competitive edge in advanced materials will be able to determine the standards of the industry and gain the advantage in development. ”Liu Jianzhong emphasized. Several academicians and experts attended this forum, presenting the team’s latest research achievements and outlining the future development trends of petrochemical materials. Wang Yuzhong, an academician of the Chinese Academy of Engineering and professor at Sichuan University, pointed out that addressing global plastic pollution poses significant challenges at present, and the design of polymer materials in the future must combine functional performance with ease of chemical recycling. Its team has developed high-performance polymer materials such as functionally recyclable polyethylene terephthalate (PET) resins, ultra-low smoke/heat release flame-retardant polycarbonates (PC), and high-performance fat-furan-based copolyesters, which will contribute to the sustainable development of the industry. Also focusing on polymer materials, Jian Xigao, an academician of the Chinese Academy of Engineering and professor at Dalian University of Technology, emphasized their special functional properties and explained the mechanisms and processes involved in developing new types of high-performance engineering plastics with heterocyclic structures. Examples include polyether sulfone ketones containing diazanaphthoquinone structures (PPESK) and polyphenylene naphthoimidazole polyether nitrile sulfones (PPENS) – resins that possess both high-temperature resistance and solubility. At present, both of these types of materials have been put into industrial use and are applied in key fields such as aviation and high-speed rail. In addition, Han Buxing, an academician of the Chinese Academy of Sciences and a researcher at the Institute of Chemistry, Chinese Academy of Sciences, shared cutting-edge technologies and industrialization cases in the field of green chemistry. Sun Wenhua, a researcher at the Institute of Chemistry, Chinese Academy of Sciences, provided a detailed explanation of the synthesis mechanisms ranging from α-olefins and polyethylene waxes to polyethylene elastomers. The forum was chaired by Li Huichao, director of CNOOC Refining & Chemicals, deputy secretary of the Party committee, and secretary of the Party committee of CNOOC Materials Science Institute. Xu Jiahai, Deputy General Manager and Party Committee member of CNOOC Refining & Chemicals, Hou Zhanggui, Deputy Director of CNOOC Materials Science Institute and Party Committee member, Wang Yike, Deputy General Manager and Party Committee member of CNOOC Huizhou Petrochemical, and Yu Qun, Chairman, Party Committee member and General Manager of CNOOC Daxie Petrochemical, attended the forum and presented information on the development progress of their respective companies as well as prospects for cooperation. It is reported that CNOOC has clearly set out to establish an industrial framework characterized by complementary energy sources, including oil and gas refining, chemicals, materials, electricity, hydrogen, carbon, and minerals. The refining industry is regarded as a key link in extending the value of the oil and gas industry chain, as well as a core area for fostering new forms of productivity. As the entity responsible for the \"refining, chemical processing, and materials\" segment of China National Offshore Oil Corporation’s \"132\" industrial chain framework, CNOOC Refining & Chemicals adheres to the strategy of combining oil processing with chemical production, striving to enhance quality and specialization while expanding into the chemical sector. It aims to shift from a focus on reducing oil production and increasing chemical output to one that involves reducing oil production, increasing chemical output, and adding new products and services. The company makes every effort to strengthen its two major bases in Huizhou and Daxie, and to establish an integrated innovation system that covers everything from basic research and pilot testing to industrial-scale production.