On April 7, the 8th China International Petroleum and Petrochemical Technology and Equipment Exhibition kicked off in Beijing, drawing attention from industry professionals and international players alike. Over the past three years, rising global oil prices have significantly boosted demand for drilling and petrochemical equipment worldwide. This trend has led to a remarkable three-year streak of record-high industrial output for China's oil drilling equipment manufacturing sector.
In addition, the ongoing development of major petrochemical, ethylene, and PTA projects across the country has further fueled demand for refining and chemical equipment, as well as pressure vessel manufacturing. According to data from the National Bureau of Statistics, in 2007 alone, the oil drilling and specialized equipment manufacturing industry achieved a total output value of 57.64 billion yuan, reflecting a 49.67% year-on-year increase. New product output reached 9.12 billion yuan, up 22.2%, while export delivery value rose by 25.9% to 9.73 billion yuan.
Meanwhile, the refining and chemical production equipment manufacturing industry recorded a total output value of 27.32 billion yuan, a 40.4% increase from the previous year. New product output was 3.01 billion yuan, up 31.6%, and export delivery value reached 1.18 billion yuan, growing by 33.5%.
The exhibition has grown into one of Asia’s largest oil and petrochemical events and is now among the world's five major oil shows. This year’s event set a new record in scale, with participants from over 12 countries, including the U.S., Germany, France, Russia, the UK, and Japan. More than 800 exhibitors from 35 countries and regions took part, including 31 Fortune 500 companies. The event showcased the latest technologies and equipment from both international oil and gas giants and domestic firms, highlighting innovations in independent petroleum equipment and key intellectual property rights.
The opening ceremony was attended by notable figures, including Li Yongwu, leader of the China Petroleum and Chemical Industry Association, who cut the ribbon to officially launch the exhibition.
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