随着社会进步，绿色能源、环保产品等越来越受到人们的青睐，当“绿色”成为时尚，当绿色发展理念日益深入人心，越来越多领域必须做出积极改变。今年的《政府工作报告》指出，要“加快形成绿色低碳生产生活方式”“推动绿色低碳发展”，这是对未来的期许，也是对企业的要求。

10 月 5 日，OPEC+会议决议减产 200 万桶/天，远超预期，带动布伦特原油价格周内上涨 10 美元/桶。OPEC+内部表现减产挺价的决心，有望对油价形成有力支撑。欧美面临进一步的高通胀压力，经济数据下滑，美国释放 1000 万桶SPR 石油应对 OPEC+减产，2022 年年内 SPR 已减少 1.8 亿桶，后期释放空间有限。随着欧盟对俄第八轮制裁的落地，欧盟内部对俄油价格上限无法达成一致，预计实际影响有限。考虑近期俄乌关系再度恶化，油价有望在供应收紧及地缘政治影响下高位震荡，积极推荐中国海上油气龙头中国海油，推荐中国石油、中国石化等具有油气资源的龙头企业，建议关注中海油服、海油工程。同时，油价上涨，以原油为原料的下游加工业能源成本增加，煤炭价格较为稳定，美国天然气、乙烷价格走低，利好煤化工龙头企业宝丰能源及乙烷深加工龙头卫星化学。

Production of motor fuel: gasoline, kerosene etc. Production of fuel: light, medium and heavy fuel oil, refinery gases such as ethane, propane, butane etc. Manufacture of oil-based lubricating oils or greases, including from waste oil Manufacture of products for the petrochemical industry and for the manufacture of road coverings Manufacture of various products: white spirit, Vaseline, paraffin wax, petroleum jelly etc. Manufacture of hard-coal and lignite fuel briquettes Manufacture of petroleum briquettes

尼龙66（PA66）由于其耐磨性、高强度、温度应用范围广等优异的性能在 国防军工、城建交通、家居生活等方面得到了广泛应用，是关系到国计民生 的重要战略物资。但其原料己二腈长期被海外垄断，截止2021 年全球共199 万吨己二腈产能，其中约98%产能在海外，主要集中在英威达、奥升德、巴 斯夫三家企业手中。中国己二腈消费量占全球的22%，但己二腈产能仅占全 球的2%左右，是全球最大的己二腈进口国，原料端受制于人、价格频繁大 幅波动，已严重影响了我国尼龙产业发展的安全。

Malaysia's national oil and natural gas firm, Petronas, owns all oil and natural gas exploration and production projects in the nation Petronas dominates the upstream sector, where it enters production sharing contracts ( with local and international corporations to explore and exploit Malaysia's oil and gas resources ExxonMobil, Shell, and ConocoPhillips are the three largest multinational oil firms producing the most oil in Malaysia, as estimated by Rystad Energy and published by the US Energy Information Administration ( Other international oil corporations, such as Repsol ( Pertamina ( PetroVietnam ( and JX Nippon Oil and Gas, have been drawn by new investment potential ( Despite the large presence of other regional and international firms in Malaysia, Petronas dominates the downstream industry Shell, Chevron, and Petron are among the foreign gasoline retailers operating domestically

In the wake of the Russian invasion of Ukraine, the conflict between liberal camps centered upon the US and Europe and autocratic camps centered upon China and Russia is growing. Finally, international trade, which had been free for more than 30 years after the collapse of the Soviet Union, is becoming increasingly blocked. For fossil fuels, supply is limited due to conflicts between the two camps, including between the US and China in 2018, Australia and China in 2021, and Russia and Western Europe in 2022. In the meantime, many countries are strengthening their individual carbon-neutral policies to address climate change. Accordingly, we believe that responses to climate change going forward will become a means for countries to regulate one another. Given carbon neutrality and energy independence needs, nuclear power is expected to become a major source of power. In addition, the expansion of the renewable energy market, which has secured economic feasibility compared to fossil fuels, is to accelerate the global transition towards a hydrogen economy. Given this rapidly changing world order, we believe it is time to take a close look at how green energy market being reorganized.