According to CoinMeta, the National Development and Reform Commission and the National Energy Administration have issued the "15th Five-Year Plan for Petroleum and Natural Gas Development," which proposes to guide and support the integration and reorganization of refineries in key regions and the elimination of outdated production capacity through market-oriented and rule-of-law approaches. The plan emphasizes adhering to the principle of "replacing reduced refining capacity," optimizing existing capacity, strictly controlling new additions, and continuously promoting the conversion of oil into other products such as specialty chemicals and materials. It also aims to enhance the intensification, refinement, and greenness of the refining and chemical industry. At the same time, efforts will be made to reduce carbon emissions during production processes, implementing the use of green electricity and clean, low-carbon hydrogen as substitutes. Coastal areas will be focused on developing integrated refining and chemical industry clusters to improve the supply of high-end chemical materials and build production bases with global competitiveness.