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Domestic news: Hengli Petrochemical’s net profit for the first quarter increased by 91.81% year-on-year. On April 22, Hengli Petrochemical released its report for the first quarter of 2021; during that period the company achieved operating revenue of 5,323,098.71 million yuan, a year-on-year increase of 78.80%； The net profit attributable to the shareholders of the listed company was 4,111,078.1 thousand yuan, representing a year-on-year increase of 91.81%. The net cash flow from operating activities during the reporting period was 5,982,600.4 thousand yuan, and as of the end of 2020, the net assets attributable to the shareholders of the listed company were 5,107,880.44 thousand yuan. China’s first CCER carbon neutrality service trust was established. On April 21, CNOOC Trust Co., Ltd. (abbreviated as CNOOC Trust) and CNOOC Energy Development Co., Ltd. (abbreviated as CNOOC Energy Development) held a signing ceremony. The two parties jointly announced the establishment of the country’s first carbon neutrality service trust whose underlying asset is CCER – the “COSCO Blue CCER Carbon Neutrality Service Trust”. “The transaction structure of the \"CNOOC Blue CCER Carbon Neutrality Service Trust\" is as follows: CNOOC Development uses the CCER assets it holds as the underlying assets for the trust, and assigns them to CNOOC Trust to establish a property rights trust. The trust then transfers its trust benefits, and through the issuance of trust shares, raises funds, which are ultimately invested entirely in industries related to environmental protection and energy conservation and emission reduction. Thereby achieving a green energy development path that relies on green resources to generate more green energy. As the trustee of the aforementioned trust assets, CSMC Trust not only provides financial support to the asset holders but is also responsible for the management and trading of carbon assets. By leveraging the advantages of the trust system and asset management, it offers comprehensive financial services for achieving carbon neutrality. This project is CHT Trust’s first green trust transaction aimed at achieving carbon peak and carbon neutrality. It features innovations in terms of the underlying assets of the trust, the design of the transaction structure, and asset management, providing a solution for utilizing green assets to support green industries. A project with a total investment of 127 billion yuan by Shenghong Group has been established in Inner Mongolia. Recently, the People’s Government of Ordos City and Jiangsu Sierbang Petrochemical Co., Ltd., which is part of Shenghong Holding Group, signed an investment agreement for the Green New Materials Circular Economy Industrial Park in the Jinji Lake Hotel in Wuzhong District, Suzhou Province. Thus, Shenghong’s project with an investment of 100 billion yuan has been officially launched in the Dalate Economic Development Zone. The total investment for this project is 127 billion yuan, to be carried out in two phases. Phase 1 requires an investment of 67 billion yuan, with completion scheduled by August 2024. This phase focuses on the production of methanol as well as various high-end new materials and fine chemical products such as acetic acid, formaldehyde, acrylic acid, 1.8 million tons per year of olefins, and biodegradable materials, along with superabsorbent resins ； The second-phase investment amounts to 60 billion yuan; it is planned to be carried out in March 2027 and completed by August 2030. The main projects to be built include those related to methanol, olefins produced from methanol, and other new chemical materials. Signing of the Daishan Petrochemical Circular Economy Industrial Park Project On the morning of April 22, the signing ceremony for the Petrochemical Circular Economy Industrial Park in Daishan Economic Development Zone was held. The Daishan Economic Development Zone signed an investment agreement with Zhuoran (Zhejiang) Integrated Technology Co., Ltd.; Zhuoran (Zhejiang) Integrated Technology Co., Ltd. in turn signed cooperation agreements with the enterprises located within the park. Shanghai Zhuoran Engineering Technology Co., Ltd. signed cooperation agreements with Zhejiang Petrochemical Co., Ltd. and Ningbo Zhongjin Petrochemical Co., Ltd. It is reported that the Petrochemical Circular Economy Industrial Park is located within the Daishan Economic Development Zone, with a total investment of over 8 billion yuan. Inner Mongolia to build titanium dioxide and sulfuric acid production facilities. On April 20, it was reported that Inner Mongolia Guocheng Resource Comprehensive Utilization Co., Ltd. and Shandong Province’s Jinan Huangtai Gas Furnace Co., Ltd. have recently signed a contract for the EPC general contracting of the gasification unit required for the \"comprehensive recycling and utilization of sulfur-titanium-iron resources\" project. The \"Sulfur-Titanium-Iron Resource Recycling and Comprehensive Utilization Project\" is located in the Wulat Houqi (Qingkele) Industrial Park in Bayannur City, Inner Mongolia. It covers a total area of 1,047.14 mu, with a total investment of 2.983 billion yuan. The main production facilities include: a plant capable of processing 1 million tons per year of non-ferrous metal mining tailings to produce sulfuric acid from ferrous materials; a plant for producing titanium dioxide at a rate of 200,000 tons per year; and a plant that generates 1 million tons per year of high-quality iron ore powder as a by-product. A subsidiary of Guanghui Energy signed a framework agreement on oil and gas exploration and development with Anhui Everbright. On the evening of April 22, Guanghui Energy issued a statement stating that its wholly-owned subsidiary Guanghui Petroleum and Anhui Everbright had entered into a Framework Agreement on Oil and Gas Exploration and Development through friendly consultations; both parties are interested in cooperating on the exploration and development of oil projects in the TBM Zaisan area in Kazakhstan. According to the announcement, the cooperation model initially discussed between Guanghui Petroleum and Anhui Everbright is a product-sharing model: it was agreed that the oil and gas extracted in the Zaisang area would be allocated between Guanghui Petroleum and Anhui Everbright in a ratio of 28% : 72% ； During the term of the contract for the utilization of underground resources in the Zhasang area, once Anhui Guangda has recovered all its investment costs, Guanghui Petroleum and Anhui Guangda will divide the product (crude oil) in a 40%:60% ratio. International News: ExxonMobil and Global Clean Energy Expand Agreement on Renewable Fuels On April 23, ExxonMobil and Global Clean Energy expanded a five-year agreement, increasing ExxonMobil’s purchase volume of renewable diesel to 5 million barrels per year. ExxonMobil will become the exclusive buyer of renewable diesel from Global Clean Energy’s bio-refinery in Bakersfield, California, which is scheduled to begin production in early 2022. Renewable diesel makes use of Global Clean Energy’s patented camellia oil crop, which can significantly reduce greenhouse gas emissions throughout its life cycle. It is reported that the Bakersfield bio-refinery processes up to 15,000 barrels of renewable raw materials per day, including the camellia used exclusively by Global Clean Energy. The remaining renewable diesel will be produced from various non-petroleum sources, including used cooking oil, soybean oil, corn oil from distillation processes, and other renewable resources. Once production begins, ExxonMobil plans to distribute renewable diesel in California as well as other potential U.S. and international markets. Nippon Paint to Invest Another 250 Million Yuan in Building a New Automotive Paint Factory On April 20, Nippon Paint Holdings Co., Ltd. (hereinafter referred to as “Nippon Paint”) announced its intention to invest 4.1 billion yen (approximately 250 million yuan) in building a new facility for manufacturing automotive paints in Okayama Prefecture. The newly established NPAC Okayama plant will address the aging issues of the existing NPAC Hiroshima plant (Hiroshima District, Hiroshima Prefecture), and serve as the main base for manufacturing automotive coatings for customers in the Chugoku/Kyushu region. Construction of the new factory will begin in May 2021 on the site located within Nippon Paint’s Okayama plant. It will cover an area of approximately 81,600 square meters, with a building area of around 4,700 square meters. Completion is expected by May 2022, with operations set to start in July of the same year. In addition, the production functions at NPAC’s Hiroshima plant will be transferred to the Okayama plant in July 2023, while functions such as technology, sales, and logistics will remain in place. BASF announced force majeure affecting its PA66 PBT products. On April 21, BASF said it had received a notice of force majeure from its raw material suppliers. The supply of raw materials such as adiponitrile (ADN), hexamethylenediamine (HMD), and AH-salts will all decrease. This directly affects the supply of BASF’s PA66 products (Ultramid? A and Ultramid? C, Capron? PA66). Therefore, BASF declared force majeure for all PA66-based products, effective immediately. Disclaimer: The content contained herein is sourced from the Internet, WeChat official accounts and other public sources. We maintain a neutral stance regarding the views expressed in it; this article is intended solely for reference and discussion purposes. 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