Daqing Oilfield, an iconic oil production base in northeast China's Heilongjiang Province, will see new gas wells put into operation to meet the needs of millions of households during this year's heating season. Pre-operation work is being wrapped up on the Xushen Gas Well in Zhaodong City, which is expected to add over 600,000 cubic meters of natural gas per day.
Xushen Gas Well is a part of the Daqing Oilfield, a traditional production base that has been producing oil since late 1950s. Upon operation, the new project will be able to meet the needs of two million households.
"This project mainly includes a new gas station and six gas wells. Now we are wrapping up the project, connecting the six gas wells with pipelines. We are striving to put the six gas wells into operation ahead of the heating season," said He Yongliang, deputy director of the construction management office of Daqing Oilfield Gas Production Branch Company.
The heating season also prompted efforts to secure safe and sufficient gas supply in Lamadian Gas Storage of Daqing Oilfield.
Workers there are now strengthening inspection on the facilities after the storage recently stocked over 100 million cubic meters of natural gas.
"We inspect the gas storage every two hours. For key equipment like the buffer tanks and the gas distributors, we have increased our inspection frequency," said Luo Kai, supervisor of the gas injection station of Daqing Oilfield Sixth Oil Production Plant.
Daqing Oilfield to put new gas wells into operation to ensure winter heating
Daqing Oilfield puts new gas wells into operation to ensure winter heating
U.S. stocks finished slightly higher on Monday, staging a late-session recovery as investors navigated a volatile landscape marked by a criminal probe into the Federal Reserve leadership.
The Dow Jones Industrial Average rose 86.13 points, or 0.17 percent, to 49,590.2. The S&P 500 added 10.99 points, or 0.16 percent, to 6,977.27. The Nasdaq Composite Index increased by 62.56 points, or 0.26 percent, to 23,733.9. Despite the positive close, the market experienced significant intraday turbulence, with the Dow dropping nearly 500 points at its session lows.
Nine of the 11 primary S&P 500 sectors ended in positive territory. Consumer staples and industrials led the gainers, rising 1.42 percent and 0.75 percent, respectively. Financials and energy were the primary laggards, declining 0.8 percent and 0.66 percent.
Market sentiment was initially shaken by an announcement on Sunday from Fed Chair Jerome Powell, who confirmed that federal prosecutors are investigating him over the Fed's multi-billion-dollar project to renovate its headquarters. Powell characterized the probe as an attempt by the Trump administration to compromise the Fed's independence.
Further weighing on the financial sector was a proposal by U.S. President Donald Trump to cap credit card interest rates at 10 percent for one year, which triggered a sell-off in banking stocks amid concerns over restricted lending and reduced profitability. Capital One shares plummeted 6.42 percent, while Citigroup, JPMorgan and Bank of America also recorded losses.
In contrast, retail giant Walmart led the Dow's advance, climbing 3 percent following news of its upcoming inclusion in the Nasdaq 100 index. The company also announced a strategic partnership with Google's Gemini AI to enhance the digital shopping experience.
Investors are awaiting Tuesday's release of the U.S. consumer price index for December 2025. Following last week's cooling labor market data, market participants increasingly expect the Fed to maintain interest rates at their current levels during the upcoming January meeting.
U.S. stocks close higher amid criminal probe into Fed chair Powell
