The outlook for the petroleum machinery manufacturing industry remains positive despite the crisis
28 Jul,2025
From March 19 to 21, the 9th China International Petroleum and Petrochemical Technology and Equipment Exhibition was held in Beijing. Reporters learned that although affected by the financial crisis, domestic and international oil consumption demand remains strong, which will drive the recovery growth of oil-related industries including equipment manufacturing. Exhibitors unanimously expressed that the prospects for the petroleum machinery manufacturing industry are good.
As a large-scale and highly internationalized technology and equipment brand exhibition in China's petroleum and petrochemical industry, this year's event grew nearly 30% in scale compared to the previous session, with an exhibition area of 60,000 square meters. Exhibitors included the Sinopec Jianghan Petroleum Machinery Exhibition Group, Shengli Oilfield Plateau Company, and Nanyang Second Machinery Group. Jianghan Oilfield, the exhibitor with the largest booth area, once again participated as a group with five companies under the Mechanical Manufacturing System. The exhibits covered the most advanced Jianghan petroleum machinery products across ten categories in three major petroleum engineering fields, attracting continuous inquiries and negotiations. Jianghan Oilfield is Sinopec's petroleum equipment manufacturing base, with the highest annual drill bit production capacity in Asia and the third largest in the world. Xie Yongjin, Deputy Director of Jianghan Petroleum Administration Bureau, told reporters that due to the impact of the financial crisis, demand for petroleum equipment products has decreased. However, domestic and international oil consumption demand remains strong, and oil and gas exploration and development will continue, which will inevitably drive the recovery growth of oil-related industries including equipment manufacturing. Xie Yongjin said, "We are full of confidence in the development of the petroleum machinery manufacturing industry and strive to achieve annual mechanical manufacturing sales revenue exceeding 10 billion yuan during the 12th Five-Year Plan period." Concurrently, the exhibition also held multiple technical exchanges and seminars such as the China Petroleum and Petrochemical Equipment Manufacturing Industry Crisis Response and Sustainable Development Forum. The exhibition attracted delegations from more than 10 countries and regions including the United States, Germany, France, and Canada, with nearly 800 exhibitors from 35 countries and regions participating.
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Hengshui Huiya Petroleum Machinery Co., Ltd.
Focused on the research and manufacturing of high-pressure well control equipment for 12 years, holding 19 patented technologies and dual certifications from China and the USA. From refractory hose assemblies to mud pump accessories, we rely on a 21,840 square meter intelligent production base to provide highly reliable solutions for global oilfields and coal mines.
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