SHANDONG MOLONG (00568) surged more than 5% during morning trading, with shares last up 4.86% at HK$5.08, recording a turnover of HK$139 million. The rally comes as the National Development and Reform Commission and the National Energy Administration officially issued the 15th Five-Year Plan for Oil and Gas Development on August 17.

The plan centers on two core objectives: ensuring energy security and advancing green, low-carbon development. It sets quantifiable targets for 2030, including achieving domestic oil and gas supply of 440 million tonnes of oil equivalent, adding 20,000 kilometers of new long-distance oil and gas pipelines, and reaching an annual carbon dioxide injection capacity of 10 million tonnes through CCS/CCUS projects. The blueprint aims to build a modern oil and gas industry system characterized by independent supply security, efficient pipeline networks, flexible reserves, green and low-carbon operations, technological breakthroughs, and diversified cooperation.