On June 28, the sixth member representative meeting of the China Petroleum and Petrochemical Equipment Industry Association was held in Beijing. During the event, Yu Zhen, President of the China Federation of Machinery Industry, emphasized that with the continuous growth of China's overall economic strength, the revitalization of the equipment manufacturing industry has once again become a key focus for national economic development. Recently, the State Council released several opinions on accelerating the revitalization of the equipment manufacturing industry, signaling a new wave of opportunities for the sector. For oil and petrochemical equipment companies, which are deeply integrated into long industrial chains, seizing these opportunities is essential.
Despite significant progress, many Chinese petroleum and petrochemical equipment companies still face challenges. A major issue is the imbalance between strong manufacturing capabilities and weak innovation. While China has developed a comprehensive production system for oil drilling equipment, with over 188 enterprises employing 47,000 people, there remains a gap compared to global standards. The country has made strides in producing advanced drilling rigs and electric drive systems, but the diversity of specialized rigs suitable for different geological conditions is limited.
In the petrochemical sector, domestic production rates have improved significantly, with 95% of refining equipment and 70% of chemical equipment now locally produced. However, certain critical technologies and components—such as those used in ethylene plants, synthetic ammonia, and urea production—still rely heavily on foreign imports. While some technical issues have been resolved, the stability and reliability of domestic products continue to lag behind international competitors.
From the perspective of geophysical and logging equipment, China’s technological level is still far from competitive globally. The domestic seismic equipment market is dominated by foreign brands, highlighting a lack of innovation and independent development. Additionally, some specialized offshore and deep-sea equipment remains imported, indicating a need for stronger R&D investment and industry coordination.
Experts suggest that the industry must adopt a more unified approach. Zheng Hu, the newly appointed Secretary-General of the association, pointed out that fragmented research efforts and lack of coordination among companies hinder progress. To address this, the industry should promote joint development, cooperation, and shared success. With government support and collaboration with users, the association can lead breakthroughs in key technologies, such as large-scale ethylene plants and offshore oil equipment.
Wang Jiming, President of Sinopec, urged companies to identify gaps in their current equipment and align research with international standards. He emphasized the importance of policy support, tax incentives, and user collaboration to accelerate technology absorption and localization. By fostering cross-departmental and cross-regional cooperation, China can enhance its independent R&D capabilities and move closer to self-reliance in petroleum and petrochemical equipment manufacturing.
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