Financial News Agency reported on February 7 that on the first trading day of the Year of the Tiger, the Shanghai Stock Exchange Index changed from its sluggish performance before the holiday and rose by nearly 2% on heavy volume in half a trading day. In line with the agency's prediction: double bottom resonance, whether it is extremely prosperous or not.
Before resuming work on the first day of the Year of the Tiger, institutions had already begun to predict the market’s “good start” performance. Industrial Securities mentioned that after the holiday, as risks at home and abroad gradually ease, policy easing continues to be implemented, the existing game pattern gradually improves, and the congestion of popular tracks drops below low levels, the market will have a "good start."
As of today’s noon close, more than 3,400 stocks in Shanghai, Shenzhen and Beijing were up. One of the most eye-catching is today's performance of the oil and gas sector. In early trading, China Petroleum stock price once rarely soared 8.5% and hovered at a high level. Oil and gas equipment companies such as China Oilfield Services Ltd., Zhongman Petroleum, PetroChina Engineering , Bakken Energy and other stocks were closed; Hong Kong stocks China Petroleum rose 2.5%. Before the holiday, PetroChina has just announced its 2021 performance forecast. Compared with the same period last year, net profit will increase by RMB 71 billion to RMB 75 billion, the best in seven years.
Behind PetroChina's surge after the holiday may be the combined impact of the complex and ever-changing external market and the new energy business that PetroChina is actively exploring.
International oil prices rose for seven consecutive weeks. Domestic oilfield services companies continued to benefit from the recovery in oil prices.
During the holidays, international oil prices rose for the seventh consecutive week, breaking through the 90 yuan mark for the first time since 2014 and reaching a seven-year high.
The reason for the sharp rise in international oil prices first comes from the supply side. During the Spring Festival of the Year of the Tiger, geopolitical tensions continue to ferment, especially in Eastern Europe and the Middle East. Huatai Futures said this is an important driving factor for oil prices to continue to break through after returning to 80 US dollars per barrel. Snowstorms in parts of the United States also contributed to rising oil prices.
In addition, OPEC countries that have reduced production in recent months have also failed to achieve their production increase targets. According to retrospection, in December, the output of the ten OPEC countries increased by less than 200,000 barrels per day, and the actual output was lower than the agreed amount. In addition, affected by the closure of the largest oil field in the west, Libya reduced crude oil production by 140,000 barrels per day, dragging down OPEC's overall crude oil supply increase.
Shengang Securities It is expected that the mismatch between supply and demand in the oil market will be strengthened in 2022, and it is recommended to continue to pay attention to domestic refining leaders. As the main raw material for refineries, crude oil has a certain cost-promoting effect on downstream finished products. The rise in upstream oil and gas prices will help promote the expansion of refining gross profits and chemical product spreads. It said that the profitability stability of large-scale refining and chemical products is expected to increase during the year.
The recovery of oil and gas investment generally lags behind oil prices for one year. Debon Securities reminds that oil and gas investment has begun to increase significantly recently. In addition, capital expenditures in the oil and gas industry have been low in the past two years, and industry supply has gradually shrunk. With the gradual recovery of the economy and driven by global demand, the industry is expected to enter a new expansion cycle. The latest performance of the three major international comprehensive oilfield services leaders is quite impressive. Among them, and Baker Hughes achieved a net profit of US$294 million in a single quarter, an increase of 3575% from the previous quarter. Domestic oil services companies have developed rapidly in the past few years and have solid fundamentals. They will continue to benefit from the recovery in oil prices and the shift of the global industrial chain to China.
New energy applications attracted attention in the ice and snow event. Energy leaders laid out their plans in advance.
During the holidays, at the stunning opening ceremony of the Winter Olympics on February 4, hydrogen energy played a leading role in the torch lighting process.
From the Water Cube (Ice Cube) to the Yanqing competition area and to the Hebei Zhangjiakou competition area, the hydrogen supplied by China Petroleum lit the Winter Olympics torch stand in three sub-venues.
The application of hydrogen energy is an important manifestation of the "dual carbon" main line in this Winter Olympics. According to the previous "Petroleum China Winter Olympics Guarantee Plan", during this Winter Olympics, PetroChina's four hydrogenation stations, It will provide services for 816 hydrogen fuel cell vehicles, and is expected to supply 155 tons of hydrogen energy, which can provide these vehicles with a cumulative driving mileage of 2.32 million kilometers. The
institution has earlier reminded investors to pay attention to the main line of hydrogen energy construction. It also set off a market trend at the end of 2021. Recently, the institution has placed more emphasis on the significance of the long-term layout of the hydrogen energy sector.According to the China Hydrogen Energy Alliance, China's hydrogen energy demand will reach 60 million tons by 2050, equivalent to 292.68% of 2020.
The recent market trend in the hydrogen energy sector has been catalyzed by the short-term impact of the Winter Olympics. CITIC Securities stated that hydrogen energy will form a certain scale of infrastructure construction and application in some fields in the medium term, further leveraging the value of hydrogen energy as both energy and raw materials. With the advantages of cleanness and efficiency, it gradually forms a complementary situation with other carbon-neutral paths. In the long run, stock replacement will begin and the scope of application will continue to expand. As technology and applications mature, it is expected to complete stock replacement in some fields and be used in civilian life on a large scale.
Hydrogen energy-related topics will receive more than 20 billion yuan in financing in 2021, a year-on-year increase of more than 6 times. CITIC Securities said that in 2022, green hydrogen production from water electrolysis, hydrogen metallurgy, and hydrogen fuel cells all contain investment opportunities.
