Industry News

As the Middle East conflict disrupts global oil and gas supplies and drives up prices, countries are seeking fossil fuel alternatives to enhance energy security while pursuing decarbonization targets, and demand for biofuels is rising.More than 90% of the world's biofuels are produced from food crops, primarily corn grown in the United States; sugarcane grown in Brazil is the second largest source, followed by oil crops such as palm oil, soybean oil, and rapeseed oil, while used cooking oil and animal fats account for about 12%.

Europe may have just six weeks of jet fuel supply remaining amid ongoing disruptions in the Strait of Hormuz, the International Energy Agency (IEA) has warned. According to the agency’s latest assessment, storage levels are expected to fall to a critical point by June unless the region secures alternative supplies to replace at least half of its typical Middle Eastern imports.

On April 30, 2026, the LNG receiving terminal witnessed a historic moment: the cumulative volume of natural gas transported abroad successfully exceeded 100 billion cubic meters. Since its completion and commissioning in May 2011, as China's first large-scale LNG receiving terminal independently designed, constructed and operated, the LNG receiving terminal has been safely in operation for nearly fifteen years, and has received over 850 LNG vessels from 29 countries and regions including Qatar, Australia and Russia.

Microsphere 2.0 technology is a breakthrough innovation achieved by the Oil & Gas Process Research Institute based on practical oilfield development and production needs. Building upon the nano-microsphere enhanced water flooding technology, this solution focuses on resolving long-standing bottlenecks that have constrained development. The approach features targeted breakthroughs and precise measures. This technology essentially installs an intelligent flow control valve on underground oil reservoirs, enabling full control over water flow direction and timing of plugging. Compared with similar foreign products, Microsphere 2.0 technology leads comprehensively in performance indicators, truly establishing an efficient profile control and flooding system characterized by "deep penetration, precise plugging, and long-lasting effectiveness."

On the map of energy transition, two sets of data for the end of 2025 and the beginning of 2026 precisely outline the changing trajectory of China's transportation energy consumption market.

Since March 2026, domestic liquefied petroleum gas (LPG) futures prices have seen an upward trend. The main 2605 contract has risen from around 4,500 yuan per ton to a high of 7,244 yuan per ton on March 23, with a cumulative increase of over 60%. The core driver of this round of upward trend is not the peak season of domestic demand, but rather the severe disruption to the global supply side caused by the escalation of conflicts in the Middle East, damage to key energy facilities, and the obstruction of shipping in the Strait of Hormuz. As the world's largest importer of LPG, China has a high degree of dependence on foreign sources. The sudden change in the international supply pattern is directly transmitted to the domestic market through import costs and trade flows.