According to the statistics released by the State General Administration of Customs on November 30, in the first three quarters of 2007, China's oil drilling products (oil drilling rigs and parts and petroleum steel pipes) exported 3.25 billion U.S. dollars, an increase of 67.4% over the same period of last year. The boom in oil exploration and exploitation that has arisen globally due to high oil prices is the main factor driving the export of China's oil equipment.
It is understood that since 2007, crude oil prices in the international market have continued to rise. Huge demand and huge profits have stimulated a substantial increase in investment in the oil exploration industry. Countries around the world have begun a large-scale search for oil. At the same time, most of the petroleum equipment in the Middle East, the Americas, Russia, and other important oil-mining countries and regions were put into use in the 1980s and have gradually entered the renewal period. China's oil equipment manufacturing industry has developed in recent years, oil extraction and drilling equipment has reached the world's advanced level, while product prices have obvious advantages in the international market, it has become the first choice for upgrading equipment in some oil recovery countries. In addition, China has implemented the "going out" strategy. PetroChina, Sinopec, CNOOC and other large oil companies have opened up many oil exploration and engineering service projects in the Middle East, Africa, Latin America, and West Asia, and have also stimulated the export of petroleum equipment products.
According to the customs, in the first three quarters, China’s oil equipment products exported US$1.04 billion to the United States, up 29.9% year-on-year; exports to Russia and Algeria reached US$190 million and US$130 million, respectively, an increase of 10.2 times and 4.2 times year-on-year respectively; exports to India 270 million U.S. dollars, a year-on-year increase of 59.8%. State-owned enterprises are the main exporters. In the first three quarters, China's state-owned enterprises exported 1.74 billion U.S. dollars, an increase of 60.3% year-on-year, accounting for 53.5% of the total value of exports; foreign-invested enterprises, private enterprises, and collective enterprises respectively exported 770 million U.S. dollars, 610 million U.S. dollars, and 130 million U.S. dollars, respectively. It increased by 79.1%, 71.6% and 83.8%.
Experts pointed out that although China's petroleum equipment products have been approved by overseas markets, they still lag behind in the manufacture of key equipment such as oil drilling rigs, and their industrial concentration and specialization level are not high. China's oil equipment manufacturing industry also needs to strengthen industry planning, improve the ability of independent innovation, and realize the transformation from quantity to quality. It should also actively develop markets such as Russia and Kazakhstan, and constantly optimize the export market.
It is understood that since 2007, crude oil prices in the international market have continued to rise. Huge demand and huge profits have stimulated a substantial increase in investment in the oil exploration industry. Countries around the world have begun a large-scale search for oil. At the same time, most of the petroleum equipment in the Middle East, the Americas, Russia, and other important oil-mining countries and regions were put into use in the 1980s and have gradually entered the renewal period. China's oil equipment manufacturing industry has developed in recent years, oil extraction and drilling equipment has reached the world's advanced level, while product prices have obvious advantages in the international market, it has become the first choice for upgrading equipment in some oil recovery countries. In addition, China has implemented the "going out" strategy. PetroChina, Sinopec, CNOOC and other large oil companies have opened up many oil exploration and engineering service projects in the Middle East, Africa, Latin America, and West Asia, and have also stimulated the export of petroleum equipment products.
According to the customs, in the first three quarters, China’s oil equipment products exported US$1.04 billion to the United States, up 29.9% year-on-year; exports to Russia and Algeria reached US$190 million and US$130 million, respectively, an increase of 10.2 times and 4.2 times year-on-year respectively; exports to India 270 million U.S. dollars, a year-on-year increase of 59.8%. State-owned enterprises are the main exporters. In the first three quarters, China's state-owned enterprises exported 1.74 billion U.S. dollars, an increase of 60.3% year-on-year, accounting for 53.5% of the total value of exports; foreign-invested enterprises, private enterprises, and collective enterprises respectively exported 770 million U.S. dollars, 610 million U.S. dollars, and 130 million U.S. dollars, respectively. It increased by 79.1%, 71.6% and 83.8%.
Experts pointed out that although China's petroleum equipment products have been approved by overseas markets, they still lag behind in the manufacture of key equipment such as oil drilling rigs, and their industrial concentration and specialization level are not high. China's oil equipment manufacturing industry also needs to strengthen industry planning, improve the ability of independent innovation, and realize the transformation from quantity to quality. It should also actively develop markets such as Russia and Kazakhstan, and constantly optimize the export market.
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