The high growth momentum of the oil drilling equipment manufacturing industry in 2010 will continue in 2011.
The reporter learned from the China Petroleum and Petrochemical Equipment Industry Association that, driven by the increase in crude oil prices, the output value of oil drilling equipment manufacturing industry is expected to increase by more than 20% this year.
Association data shows that in the three major sub-sectors of petrochemical equipment, drilling and production equipment has gained the best. From January to November 2010, the total industrial output value of the oil drilling equipment manufacturing industry, the refining and chemical equipment manufacturing industry, and the metal pressure container manufacturing industry increased by 20.97%, 18.78%, and 17.41%, respectively, and the industrial sales output value increased by 20.36%. 19.24% and 15.79%.
According to the authority of the association, the excellent performance of drilling equipment is closely related to the steady increase in crude oil prices. In the second half of last year, international oil prices rose from 75 US dollars to 90 US dollars. "Crude oil prices will directly drive the demand for drilling and production equipment."
As of November 2010, the total assets of the oil drilling equipment manufacturing industry was 108.271 billion yuan, a year-on-year increase of 16.22%. The main business income was 100.906 billion yuan, a year-on-year increase of 16.82%, and the main business cost was 84.3 billion yuan, a year-on-year increase of 15.61%. The total profit realized was 6.545 billion yuan, a year-on-year increase of 22.59%.
Although the data for December last year have not yet been summarized, the association’s sources revealed that the performance of mining equipment has become more prominent from the perspective of the whole year, and the profitability of exploration equipment has been slightly inferior due to the relative surplus of production capacity. At present, the listed companies of domestic oil drilling and production equipment mainly include Jiangling shares of the A-share market, Jereh shares, Baode shares, Shenkai shares, oil Jichai, and Shandong Weida.
According to an authoritative source from the association, given the stronger certainty of the global economic recovery this year, the growth of oil drilling equipment will be faster than last year and will reach more than 20%. At the same time, the growth in demand for crude oil will increase storage demand, and metal pressure vessel manufacturing will also grow steadily; the development of the downstream auto industry will drive demand for refinery and chemical equipment manufacturing.
Association experts predict that “Overall, the petroleum and chemical equipment industry is expected to grow by about 15% in 2011.â€
The reporter learned from the China Petroleum and Petrochemical Equipment Industry Association that, driven by the increase in crude oil prices, the output value of oil drilling equipment manufacturing industry is expected to increase by more than 20% this year.
Association data shows that in the three major sub-sectors of petrochemical equipment, drilling and production equipment has gained the best. From January to November 2010, the total industrial output value of the oil drilling equipment manufacturing industry, the refining and chemical equipment manufacturing industry, and the metal pressure container manufacturing industry increased by 20.97%, 18.78%, and 17.41%, respectively, and the industrial sales output value increased by 20.36%. 19.24% and 15.79%.
According to the authority of the association, the excellent performance of drilling equipment is closely related to the steady increase in crude oil prices. In the second half of last year, international oil prices rose from 75 US dollars to 90 US dollars. "Crude oil prices will directly drive the demand for drilling and production equipment."
As of November 2010, the total assets of the oil drilling equipment manufacturing industry was 108.271 billion yuan, a year-on-year increase of 16.22%. The main business income was 100.906 billion yuan, a year-on-year increase of 16.82%, and the main business cost was 84.3 billion yuan, a year-on-year increase of 15.61%. The total profit realized was 6.545 billion yuan, a year-on-year increase of 22.59%.
Although the data for December last year have not yet been summarized, the association’s sources revealed that the performance of mining equipment has become more prominent from the perspective of the whole year, and the profitability of exploration equipment has been slightly inferior due to the relative surplus of production capacity. At present, the listed companies of domestic oil drilling and production equipment mainly include Jiangling shares of the A-share market, Jereh shares, Baode shares, Shenkai shares, oil Jichai, and Shandong Weida.
According to an authoritative source from the association, given the stronger certainty of the global economic recovery this year, the growth of oil drilling equipment will be faster than last year and will reach more than 20%. At the same time, the growth in demand for crude oil will increase storage demand, and metal pressure vessel manufacturing will also grow steadily; the development of the downstream auto industry will drive demand for refinery and chemical equipment manufacturing.
Association experts predict that “Overall, the petroleum and chemical equipment industry is expected to grow by about 15% in 2011.â€
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