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On March 13, the Ministry of Natural Resources released the "2025 China Marine Economy Statistical Bulletin." Preliminary calculations show that in 2025, Chinas marine GDP reached 11,018 billion yuan, a 5.5% increase over the previous year, accounting for 7.9% of GDP, 0.1 percentage points higher than the previous year. In terms of the three-sector structure, the added value of the primary marine industry was 492.3 billion yuan, the secondary industry 4,101.7 billion yuan, and the tertiary industry 6,424 billion yuan, accounting for 4.5%, 37.2%, and 58.3% of the total marine GDP, respectively.Hong Kong-listed property stocks rose in some areas, with Sunac China (01918.HK) and Greenland Hong Kong (00337.HK) up more than 10%, and Country Garden (02007.HK) and Shimao Group (00813.HK) up nearly 5%.Afghanistan claims Pakistan attacked Kabul and several other provinces.March 13 – The Public Relations Department of the Iranian Islamic Revolutionary Guard Corps (IRGC) announced today (March 13) that the IRGC launched the 44th wave of Operation True Commitment 4 in the early hours of today. During the operation, Iran launched numerous precision-guided weapons, including the Khorramshahr, Khaibir Shekan, Fatah, Imad, and Qader, as well as heavy missiles and precision-guided drones, targeting Israeli military bases in Kiryatshmona, Hedra, and Haifa in northern Israel, as well as the US Fifth Fleet and other US military bases in the region.On March 13th, the Economic Daily published an article pointing out that this years government work report, for the first time, included stabilizing the housing and stock markets in its overall requirements, proposing greater efforts to promote their healthy development. This again highlights the important position of the stock market and reflects the attitude and determination of the Party Central Committee and the State Council to stabilize it. From "activating the capital market" and "striving to boost the capital market" to stabilizing the stock market, what has changed is the specific deployment for building and developing a sound stock market; what remains unchanged is the high importance attached to the stock market, the accurate grasp of the current economic situation, and the far-sighted planning for future development. Currently, my countrys economic and social development faces multiple tasks, including promoting reform, improving peoples livelihoods, and strengthening confidence. A stable and healthy stock market is urgently needed to stabilize development confidence, boost social expectations, and safeguard economic growth.

How to prevent a severe shortage of oil supply? Moody's: The drilling budget of the exploration company is at least this number

Oct 26, 2021 11:02

According to data from the three major international credit ratings Moody's Investor Services, the upstream annual investment plummeted by about 30% in 2020, and has since rebounded only slightly. Oil exploration companies need to increase their drilling budget by 54% to more than $500 billion to prevent severe supply shortages in the next few years.

Crude oil and natural gas drillers have suffered from unprecedented demand and price drops last year, but they have not expanded their search for undeveloped oil fields as the industry usually does, and have responded to the recent market rebound.

Moody's stated in a report last week that although international crude oil and US natural gas have increased by 50% and 120% respectively this year, global drilling expenditures are expected to grow only by 8%.

Moody's analyst Sajjad Alam wrote in the report that this figure is too small to replace the oil that these companies will extract from the ground in 2022, thereby laying the foundation for a more tight supply scenario. Any such austerity will be on top of the current crises that plague Asian and European economies. As winter approaches, prices are breaking records almost every day, and they are busy supporting fuel reserves. The industry will need to increase spending significantly, especially if oil and gas demand continues to rise by 2025, exceeding pre-epidemic levels.

Moody's quoted estimates from the International Energy Agency that oil and gas companies are expected to spend $352 billion on drilling and related activities this year. If they increase to the recommended $542 billion, it will be the highest in the world since 2015.

On Monday (October 11), U.S. crude oil prices continued to soar, setting a new high in the past seven years, while Bulu oil hit a three-year high. How long can oil be hot? Industry insiders believe that there is a lot of demand for oil heating in winter, the oil market (OPEC) increased production as originally planned, and the European and American energy crisis hits, resulting in strong expectations for oil prices in October. However, the fourth quarter is generally optimistic about oil prices. It should be noted that there may be some The risk of a callback.

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