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🛢️ Petrochemicals | High oil prices with volatile fluctuations・Comprehensive energy conservation monitoring 📊 Capacity and prices: National refining capacity at 965 million tons per year (down 1.2% year-on-year), ethylene production at 35.2 million tons per year； Coastal areas account for 62.8%, with the phasing out of outdated technologies in the Bohai Sea region accelerating. On May 19, Brent was at $109.2 per barrel, while WTI was at $103.8 per barrel ； PX increased by 55.1% year-on-year, while styrene decreased by 1.2% month-on-month. Sichuan’s shale gas reserves increased by 235.7 billion cubic meters, enhancing the supply of raw materials for the gas chemical industry. 🏗️ Project updates: 17 high-end coastal projects with a total investment of 385 billion yuan ； Gulei ethylene plant will come online in August, with the construction of Huizhou Phase 3 at 42% progress. Jinling Petrochemical’s 1.9 million tons per year diesel hydrogenation core equipment has been delivered, helping to complete the industrial chain loop. 💰 M&A /🔬 Technology /📜 Policies: 12 M&A deals at the beginning of the year, worth 59 billion yuan, led by private enterprises ； Sinopec and AVIC Oil’s merger has been finalized. 68% domestic production of metallocene catalysts ； Energy consumption for green hydrogen refining – 25%; CCUS cost: 235 yuan per ton. The Ministry of Industry and Information Technology has launched annual energy-saving inspections, covering industries such as oil refining, ethylene production, and methanol production; the petrochemical sector will be included in the carbon market by 2027–2028. 🔭 Trend: By 2028, the degree of refinement is expected to reach 56%, with coordinated development in high-end industries along the coast, light hydrocarbons in the central and western regions, and gas-based chemical industries in Sichuan and Chongqing. 🔥 Coal Chemicals | Peak maintenance period and accelerated low-carbon transition 📊 Production capacity and maintenance: 33 million tons per year for coal-based olefins, and 96.5 million tons per year for methanol; the Northwest accounts for 79%/83% of these figures. Maintenance work in May and June reduced production by 1.356 million tons ； Ningxia Coal’s 4 million tons/year coal-to-oil plant is under maintenance for 40 days, starting at 5:26. Polyolefin prices remained strong (PP up 2.9% on a month-on-month basis), while methanol saw a slight decline (-0.7%). 🏗️ Project progress: The 1 million tons/year coal-to-oil project in Yitai, Ili, Xinjiang (cost: 21 billion) is 77% complete, with commissioning scheduled for 2028. Hengyi Petrochemical’s 25.7-billion-yuan coal-based ethylene glycol project has been approved, and the second-phase gasification unit at China Coal Shaanxi has been completed. 💰 M&A /🔬 Technology /🔭 Trends: 3 M&As in May / 15 billion yuan, CR5 reaches 48%. DMTO-Ⅲ: 750 yuan savings on tonol ； The cost of hydrogen produced from coal is 8.3 yuan/kg. By 2030, coal-based new materials will account for 28%, with “green hydrogen + CCUS” becoming the standard configuration. ⛏️ Coal mining | Off-peak season not dull; prices rising strongly 📊 Capacity and prices: 4.2 billion tons of raw coal from Shanxi, Shaanxi, Inner Mongolia, Ningxia, and Xinjiang (accounting for 91%) ； 5,500 kcal at 852 yuan/ton (a +33% increase year-on-year), while coking coal is priced at 1,555 yuan/ton. From January to April, raw coal production was 1.58 billion tons (a decrease of 0.1% on a year-on-year basis), while imports amounted to 149 million tons (a decrease of 2.1% on a year-on-year basis). 🏗️ Projects /💰 M&A /🔬 Technology: Annual investment of 135 billion yuan, intelligent mining efficiency of 78%. 4 M&A deals in May / 8.5 billion yuan, with CR10 reaching 68%. Ultra-supercritical coal consumption is 256 g/kWh, with large-scale operation without human intervention. 🔭 Trend: 42% local conversion by 2030, with enhanced dual properties of fuel and raw materials. 💨 Industrial gases | Domestic substitution for specialty gases | Continued tight supply balance 📊 Capacity /🏗️ Projects /💰 M&A: Market value to reach 290 billion yuan by 2026 (+8.5%) ； The self-sufficiency rate for bulk products is 98.5%, while that for electronic specialty gases is 63%. Eastern Electronic Special Gases: 14 units / 26 billion; Northwest Air Separation: 9 units / 38 billion. 3 M&A deals in May / 7.5 billion, with foreign investors accounting for 40%. 🔬 Technology /🔭 Trends: Electronic specialty gases reaching 6N level, suitable for 14nm processes ； Efforts to recover rare gases. By 2030, the self-sufficiency rate for electronic specialty gases will be 82%. 🧪 Energy Materials | Storage Boom | Acceleration of Domestic Substitution 📊 Production capacity /🏗️ Projects /💰 M&A market worth 2.9 trillion yuan, with annual growth of 36% in storage materials ； The Northwest accounts for 48%, while the Yangtze River Delta accounts for 68% in terms of lithium battery materials. China Salt Chemical Investment will spend 25.3 billion yuan to build a facility capable of producing 5 million tons per year of soda ash, in order to create green production capacity. 5 deals in May / 13 billion, with cross-sectoral capital accounting for 40%. 🔬 Technology /🔭 Trends: PNE electrolyte density + 45% ； 55% domestic production of coal-based carbon fibers. By 2030, the domestic substitution rate will be 88%. 🌍 Global Impact | Middle East turmoil drives acceleration toward energy independence in the petrochemical sector: Conflicts in the Middle East boost oil prices, leading to a 9%-13% increase in domestic refined products prices, with export shares rising to 19%. Coal chemicals: Benefits from high oil prices drive increases of 6%-10% in methanol/olefins ； The China-Kazakhstan Aktobe urea methanol project is progressing. Coal: Slight decline in global demand; domestic efforts to ensure supply and stabilize prices ； Coking coal has a premium of 220 yuan per ton. Energy materials: Global transformation drives growth, with exports of domestically produced, cost-effective products up by 18%. 🤝 Joint industry development for mutual success: The five major industrial chains exhibit regional specialization, low-carbon requirements, concentration of leading enterprises, and coordinated operation across the entire chain. Amid global changes, China’s advantages in resource autonomy and complete supply chains become more prominent. This platform continuously provides accurate production capacity information, cutting-edge technologies, and global prices, breaking down barriers between upstream and downstream entities, and serving as a hub for technical exchanges, project collaborations, and resource sharing. Unite our efforts to explore the path toward higher sophistication, greener practices, and greater intelligence in the energy and chemical industries! The article content is sourced from the WeChat official account: Huayu Jingyan