Changzhou Koye Chemical Co., Ltd.

Energy

1. On November 6th, international crude oil futures closed down. The settlement price of the December WTI crude oil futures contract in the United States was $59.43 per barrel, a decrease of $0.17 or 0.3%. The settlement price of Brent crude oil futures for January was $63.38 per barrel, a decrease of $0.14 or 0.2%.

2. On the 6th, China National Offshore Oil Corporation (CNOOC) affiliated Offshore Oil Engineering (Qingdao) Co., Ltd. announced that the Weizhou 11-4 CEPD platform constructed by the company completed the floating installation on the same day, marking important progress in the project construction work. This platform is the heaviest and largest offshore oil and gas platform in the Beibu Gulf of China.

3. According to data released by the Japan Petroleum Association (PAJ) on Wednesday, as of the week ending November 1st, Japan's commercial crude oil inventory was 10.733 million kiloliters, an increase of 705765 kiloliters from the previous week's 10.0272 million kiloliters.

4. On November 6th, traders announced that Qatar Energy, a state-owned company, has set the official selling price for Marine crude oil loaded in December at $0.5 per barrel per liter compared to Oman/Dubai crude oil; The official selling price of Land crude oil is set at $1.0 per barrel per liter compared to Oman/Dubai crude oil.

5. The International Energy Agency reported last month that natural gas demand will increase by approximately 1.5% -1.7% annually from 2024 to 2030. By 2030, an additional 300 billion cubic meters of liquefied natural gas export capacity will be added annually, mainly due to the expansion of production in the United States and Qatar, which can enhance energy supply security and alleviate market pressure.

6. On Tuesday, XRG, a subsidiary of ADNOC in the United Arab Emirates, signed a non binding agreement with YPF in Argentina and Eni Group in Italy to explore joint participation in the ARGLNG project in Argentina. This is crucial for XRG to build a global gas investment portfolio and expand its business in the Americas. The initial plan is to use floating natural gas liquefaction units (FLNG) with a production capacity of 6 million tons each, achieving an annual liquefied natural gas production capacity of 12 million tons.