CCTV News: Tian Ming, male, born in December 1965, Han nationality, party member of CPC, monitor of Oilfield Engineering Technology Service Center of Sinopec Jiangsu Oilfield Company.

　　Tian Ming has been engaged in underground work for more than 30 years, adhering to my lofty ideal of contributing oil to the motherland, based on his post and making bold innovations, he has completed 92 innovations, authorized 34 patents and published 30 papers in core journals. The "Innovation and Application of Oil Testing Technology" won the second prize of the National Science and Technology Progress Award, with an efficiency of over 100 million yuan.

　　Honors: National Model Worker, National May 1st Labor Medal, National Technical Expert, National Most Beautiful Worker, Jiangsu May 1st Labor Medal, and Top Ten Craftsmen in Jiangsu Province.

　　Tian Ming, male, born in 1965, Han nationality, party member of the Communist Party of China, senior technician of Jiangsu Oilfield Branch of China Petrochemical Co., Ltd., has won the titles of national technical expert, national May 1st Labor Medal, national labor model, national most beautiful worker, national post study Lei Feng pacesetter, craftsman China of the year, Jiangsu Province time model, Jiangsu Province outstanding Communist party member, Jiangsu Province top ten craftsmen, Jiangsu Province May 1st Labor Medal, and group company technical expert.

　　Tian Ming has been engaged in underground work for 33 years, adhering to my lofty ideal of donating oil to the motherland, based on his post, assiduously studying and boldly innovating, he has successively completed 92 innovation achievements, won 44 awards, granted 34 patents and published 30 papers in national core journals. Among them, the innovation and application of oil testing technology won the second prize of national scientific and technological progress in 2014, creating hundreds of millions of yuan for enterprises.

　　He embodies the spiritual quality of a new generation of oil workers who are diligent in learning, brave in innovation and willing to contribute, and is known as the pioneer of the times and advanced model for workers in the petroleum and petrochemical industry.

　　Study hard and strive to be a "knowledge-based" employee.

　　In 1985, Tian Ming graduated from Oilfield Technical School majoring in drilling and repair, and became a tester. Because what he did was not what he learned, his first reading of drawings was like reading a "heavenly book"; The first time I went to the well to take data, I handed in a "blank paper"; My legs trembled nervously when I climbed the derrick for the first time. In order to make up for the shortage of majors, he took time off to study during the day, stayed up all night to study, and followed his master in the well. He taught himself books such as Scientific Oil Testing System Engineering, Well Testing Data Interpretation Method, Electromechanical Integration and so on, wrote more than 300,000 words of study notes, and successfully completed college and undergraduate education, and soon became a skilled worker from a layman.

　　In July 1987, the timer imported from the United States broke down on the team, and no one could repair it, which affected the production. In order to master the maintenance technology of the timer as soon as possible, during that time, he stayed in the sultry tin workshop every day, squatted under the blazing desk lamp, wiped his sweat with bare arms, put on a towel and fiddled with the timer, and did not dare to turn on the electric fan, for fear of blowing away the parts, and finally fiddled with it for more than three months.

　　In 1994, he was hired by the watch industry research institute of the former Ministry of light industry as a technical consultant of 200JC timer, and only four people were employed nationwide.

　　Well Yancheng 1 is the first gas well in Jiangsu Oilfield. During the gas test, the double bellows differential pressure flowmeter failed, and the factory technicians could not solve it on site, so the gas test operation was forced to stop. He is eager to see in his eyes and ask for a try. Everyone cast a skeptical eye. Some people say, "Do you dare to do what experts can’t do?" I really don’t know how much I weigh! " After pondering for two days, he really solved the problem, the gas test construction was completed as scheduled, and Yancheng Gas Field, the largest gas field in the middle and lower reaches of the Yangtze River, was put into production smoothly. That year, he won the second class merit.

　　In 2012, the oil field imported coiled tubing equipment worth more than 20 million yuan. In order to understand the most advanced electric control and hydraulic system in China as soon as possible, he climbed up and down with technicians during the day to consult humbly, and at night, he often hid in the toilet to ponder the principle against the drawings. In order to remember the functions of hundreds of valve parts, he also wrote a jingle. When the equipment was debugged, the load could not be pulled in place and could not be found for many days.

　　Since then, with the help of the platform of coiled tubing equipment, Tian Ming has successively completed a series of technical innovations such as coiled tubing cutting, workover and logging, and developed the "coiled tubing cutting technology" to solve the worldwide problem of cutting highly deviated pipe strings in horizontal wells, and CCTV news broadcast has also made a special report; The "Coiled Tubing Cable Penetration Technology" has solved the problem that the cables of logging instruments in horizontal section can not be delivered effectively, provided a guarantee for the low-cost development of Fuling shale gas field, the largest shale gas field in China, and broke the foreign technical monopoly, and has been popularized in Jilin, Jidong, Bohai Drilling, Chuanqing and other oil fields.

　　Be brave in innovation and strive to be "intelligent" employees

　　Tian Ming always believed that workers are more powerful if they have wisdom, and only by solving difficult problems with knowledge and wisdom can they better reflect their values.

　　In 2003, when testing high-pressure deep wells in the western new area of Sinopec, because of the high wellbore pressure, multi-pin initiators were used in the test, and the number of pins used was large, which made it difficult to control the initiation pressure. His innovative "delayed initiation+testing technology" made perforation and testing out of sync, greatly improved the success rate of testing and negative pressure perforation rate, solved the technical bottleneck of high-pressure deep well APR testing, and the technology was fully promoted in the western new area.

　　Oil testing is one of the most important links in oil exploration and an important basis for correctly understanding and evaluating oil and gas reservoirs, commonly known as B-ultrasound for oil reservoirs. In order to improve the accuracy of oil testing data,

　　For 30 years, he has participated in the oil testing construction of various complex small fault block reservoirs in the oilfield. The innovative Oil Testing Technology involves 18 patents and more than 20 technologies in four categories: perforation, testing, swabbing and sampling. It has proved 21.17 million tons of oil reserves in seven blocks, including Shanian structure in Dongtai depression and Huazhuang structure in Gaoyou depression, which has promoted the technical progress of oil testing in the oilfield and won the award for its achievements.

　　The jar is a tool for releasing stuck in drilling and workover, and once problems occur, it will seriously affect the safety construction. The performance of SHJ-YA super-hydraulic jar is unstable in high-pressure deep wells. He developed "Improvement Technology of Domestic Hydraulic Jar for High-pressure Ultra-deep Wells", which eliminated the influence of high pressure on tools by using the principle of pressure balance. By improving the matching accuracy of valves, selecting special hydraulic oil and sealing parts, the depth of jar release was increased from 4000m to 6000m. The performance reached the international advanced level and won the silver prize in the 8th International Invention Competition.

　　The combined perforating and testing technology imported from the United States produces high pressure as small as tens of MPa and as high as hundreds of MPa, and it is easy to overload and damage the pressure gauges that take data in the same well. Once the pressure gauge is damaged, it will lead to the rework of the project and increase the cost, and it will affect the correct understanding of the oil and gas reservoir. The developed pressure gauge overload protector can instantly close the pressure transmission channel to protect the pressure gauge and automatically open the channel to ensure pressure collection after perforation, which reduces the damage rate of the pressure gauge from 16.6% to zero and the data accuracy rate is 100%. Technology has reached the leading level in the industry.

　　Changshenping 3 well is a key gas well in PetroChina, with a daily gas production of 400,000 m3. Due to casing corrosion, S13Cr gas-sealed tubing was severely deformed in the early stage of construction, resulting in millions of coiled tubing and tools being stuck underground. Because of the small diameter, there is no good solution in the industry. Tian Ming was invited to use his original small tubular string drilling and milling technology to overcome the cold and fever in the northeast at MINUS 30 degrees. Fine construction was carried out in the deformed gas-tight tubing by hanging the water edge near the well site. Through reducing the friction resistance, fishing balls, drilling and grinding the deformed S13Cr gas-tight tubing and drilling the ash plug, the tunnel was drilled for 2931.5m, and the construction was carried out for more than 20 days. Finally, the oil well was brought back to life, with an annual output value of over 100 million yuan. Party A specially wrote a thank-you letter.

　　Be willing to contribute and strive to be an "ingenious" employee

　　People often ask him: What’s the point of fiddling with those "iron bumps" all day? What is the picture? He said: not for fame, not for profit, but for your own liking. In this life, it is most meaningful for people to make some contributions to the unit and society with their own knowledge and skills in their own posts!

　　In the 1990s, in order to facilitate field construction, the unit was equipped with a number of portable imported generators. Because of the bad field construction conditions, generators are prone to failure, and they often have to be sent to Shanghai for maintenance, which is very inconvenient and affects production. The leader of the brigade found him and asked him if he could help to repair it. Although it was not his job, he agreed at once, and it was 20 years. Since then, more than 10 generators have never been sent out for repair, saving hundreds of thousands of dollars.

　　In 2014, the world-renowned general agent of American National Pipe Fittings Company (China) braved the heavy snow all the way to Zhenwu Oilfield to find him. As soon as he entered the door, he said, "Master Tian, we are very interested in coiled tubing cutting technology. Can we cooperate? I guarantee that the company will offer you an annual salary of not less than 500,000. " In the face of the temptation of generous remuneration, it is unrealistic not to be tempted at all. However, he declined politely.

　　In 2010, the oilfield set up a model worker innovation studio named after him. Tian Ming signed a mentoring agreement with 32 people, leading studio members to complete more than 80 innovations and apply for 22 patents. Among them, "Matching Tools for Oil Testing Technology" was awarded the only first prize for the outstanding technological innovation achievements of the fourth national workers; The project of "development of high-pressure sampling tools" has improved the success rate of high-pressure sampling in Jiangsu Oilfield from 46.6% to 92.2%, and the technology is leading in China. He also created a studio website, shared technical materials for free, and went to the podium to exchange innovative experiences with youth innovation seminars and high-skilled personnel training courses inside and outside the oilfield. He taught more than 120 sessions and more than 6,000 students attended the lectures. The studio has successively won the titles of "National Model Worker Innovation Studio of Energy Chemistry System", "Jiangsu Skills Master Studio" and "National Skills Master Studio" and the provincial-level "party member Education Reality Classroom Demonstration Site" awarded by jiangsu provincial party committee Organization Department.

　　In 2015, the Party Group of Sinopec called on all employees in the whole system to learn from Comrade Tian Ming, and the Jiangsu Provincial Federation of Trade Unions also called on tens of millions of employees in the province to learn from him. More than 20 media such as CCTV News Network, Chao Wen Tian Xia, People’s Daily and Xinhua Daily also made special reports on Tian Ming’s deeds, and there was an upsurge of "learning from Comrade Tian Ming" inside and outside the industry.

　　Commodities are mixed, and the impact of Yuanxing production, soda ash fell more than 3%; Crude oil, fuel oil and asphalt fell more than 1%. Oil shows a V-shaped trend, and palm rises by 3% from the low point.

　　[Industry News]

　　National Bureau of Statistics: From January to May, the profits of industrial enterprises above designated size decreased by 18.8%.

　　From January to May, the total profits of industrial enterprises above designated size nationwide reached 2,668.89 billion yuan, down 18.8% year-on-year, and the decline rate was 1.8 percentage points narrower than that in January-April. Among industrial enterprises above designated size, state-owned holding enterprises realized a total profit of 962.51 billion yuan, down 17.7% year-on-year; Joint-stock enterprises realized a total profit of 1,957.81 billion yuan, down by 20.4%; Foreign-invested and Hong Kong, Macao and Taiwan-invested enterprises realized a total profit of 626.75 billion yuan, down by 13.6%; The total profit of private enterprises was 683.78 billion yuan, down by 21.3%.

　　Jiao Zengjun, Deputy Director of the Futures Department of CSRC: The total assets of the futures industry increased by 223.90% in five years.

　　At the 2023 Green Financial Services Entity Futures Helping Rural Revitalization Conference, Jiao Zengjun, deputy director of the Futures Department of the China Securities Regulatory Commission, delivered a speech saying that the futures industry’s own strength has been continuously enhanced and its ability to serve the real economy has continued to improve. By the end of 2022, the total assets of the industry were 1,699.676 billion yuan, an increase of 223.90% over the end of 2017; Customer equity was 1,430.63 billion yuan, an increase of 256.22%. Accumulated operating income was 40.164 billion yuan and net profit was 11.004 billion yuan, increasing by 45.30% and 36.20% respectively compared with 2017. The total assets of 100 risk management subsidiaries were 153.712 billion yuan, an increase of 476.28% over 2017; Accumulated operating income was 241.381 billion yuan and net profit was 1.154 billion yuan, up by 186.02% and 28.22% respectively compared with 2017.

　　Last issue: Accelerate the listing of low-carbon products such as liquefied natural gas and aluminum alloy futures.

　　On June 28th, Zhang Ming, deputy general manager of the last issue, said at the "2023 Green Financial Services Entity Futures Helping Rural Revitalization Conference" that in terms of variety innovation, the last issue successfully launched low-sulfur fuel oil futures to help the ship oil supply market change from high-sulfur to low-sulfur, and is currently accelerating the listing of low-carbon products such as liquefied natural gas and aluminum alloy futures. In the next step, the last issue will fully implement the concepts of green, conservation and environmental protection, strengthen green cooperation, research and launch more products with green concepts, and support the green transformation of futures companies.

　　China Cotton Association: The raw material inventory of textile enterprises increased slightly in May.

　　According to the investigation of China cotton early warning system on more than 90 designated textile enterprises in China, the short-term orders of textile enterprises have remained sufficient since May, the operating rate has remained basically stable, the cotton price trend has been strong during the month, enterprises have replenished their stocks on bargain hunting, and the overall raw material inventory has increased. As of May 31, the inventory of cotton industry in the warehouse of textile enterprises was 854,400 tons, an increase of 148,800 tons compared with the end of last month and an increase of 264,300 tons year-on-year. Among them: 28% enterprises reduced cotton inventory, 37% increased inventory, and 35% remained basically unchanged.

　　Domestic refined oil prices may face a slight increase today.

　　At 24: 00 on June 28, a new round of domestic refined oil price adjustment window opened. Affected by the overall increase in crude oil prices during the pricing cycle, the agency expects that the price of refined oil products will increase slightly this round. According to Jin Lianchuang’s calculation, as of the tenth working day of June 28th, the average price of reference crude oil varieties is 73.21 USD/barrel, with a change rate of 1.10%, and the domestic retail price will be raised in cash, including gasoline by 70 yuan/ton and diesel by 70 yuan/ton, with the discount price of 92# by 0.05 yuan, 95# by 0.06 yuan and 0# by 0.06 yuan.

　　[Institutional point of view]

　　Soda has collapsed again! Will the market still fall in the afternoon?

　　Today, the price of soda ash futures fell sharply, with a drop of over 3%, and the main contract price of 09 approached the 1600 yuan/ton mark.

　　According to the analysis, the main reason is () putting into production to suppress market sentiment. At present, the first phase of Yuanxing Energy Natural Alkali Project is ignited in the market, and the products put into production may come out in the near future. The price drop of soda ash is accompanied by the dumping of goods in the market, and the inventory of soda ash is accumulated in advance. Therefore, the market’s pessimistic expectation of oversupply after the new production capacity is put into production in the later stage is even stronger. After the current price drop, the current cost line of ammonia-alkali process will be broken.

　　Everbright Futures said that in the past two days, the market has circulated information on the planned price increase of alkali plants, and the news needs to be verified. At the end of the month and the beginning of next month, it is necessary to pay close attention to the direction and extent of spot price adjustment. Fundamentally speaking, the maintenance of the supply side has been gradually implemented. The load of soda plants in Jiangsu and Qinghai has decreased, and the operating rate of soda ash has dropped slightly to 90.44% in a day. However, the impact on the supply side is limited at present, and the maintenance is more intensive in July and August. At that time, the output of soda ash may drop significantly. In addition, in the past two days, the commissioning of Yuanxing will be carried out, which will offset the lack of supply caused by maintenance after the finished products are stably produced. The demand side has not changed much, and some downstream purchases are moderate, but the downstream mentality is cautious as a whole, and it may be difficult to effectively support the market.

　　On the whole, the short-term soda ash market lacks effective drive, and it will continue to be treated with a wide range of shocks in the day. In the later period, we should pay attention to the seasonal maintenance efforts and the changes of product speed, macro and overall mood of commodity market.

　　Looking forward to the market outlook, Guangzhou futures are mainly bearish, and there is a big difference between soda ash in recent months and far months. In recent months, due to the maintenance season from July to September, the supply is shrinking, and the downstream demand is still there, and the low inventory state has certain support for the price of soda ash in recent months. However, after the expected completion of production at the end of the month, the overall overcapacity of soda ash will be clear after September. In the short term, the pattern of soda ash near strength and far weakness is obvious. In recent months, under the tight balance between supply and demand, the reasons for low inventory and high price are relatively firm. After the natural soda in contract 09 is put into production, the price is easy to fall and difficult to rise. In the medium and long term, it is still recommended to sell short on rallies.

　　Oils and fats: In the early stage, Lido-driven weakening will still be more in the short term.

　　In the medium term, palm oil production is expected to increase from June to October, and palm oil production is expected to accumulate in June to October when exports are relatively weak. There is a great pressure on the arrival of soybeans in Hong Kong from June to August in China, and the cumulative inventory of soybean oil is expected to be strong. Pay attention to whether geopolitical conflicts have an impact on Russian-Ukrainian vegetable oil exports, thus increasing the alternative consumption of soybean oil and palm oil. In the long run, due to the impact of El Niñ o, palm oil production is expected to decrease in 2024. After the South American beans are listed in the new season, the soybean supply will further turn loose. Operation: In the early stage, it will continue to be held after taking profit, and the soybean oil basis will be bearish.