In the first half of the year, the petrochemical equipment industry achieved a total output value of 146.456 billion yuan.

On August 19-20, the 3rd China Petroleum and Chemical Leakless Pump Technology and Application Forum was held in Xi'an. Zhao Zhiming, former president of the China Petroleum and Petrochemical Equipment Industry Association, said that in the first half of this year, the petrochemical equipment manufacturing industry achieved an industrial output value of 146.456 billion yuan, an increase of 35.82% year-on-year. Among them, the total output value of oil drilling equipment industry was 85.65 billion yuan, an increase of 38.92% year-on-year, and the total output value of oil refining and chemical equipment industry was 29.206 billion yuan, an increase of 29.43%. In addition, the value of export delivery in the first half of the year was 9.983 billion yuan, a year-on-year increase of 29%; and the profit was 5.044 billion yuan, an increase of 25.85%.

Zhao Zhiming pointed out that China’s petrochemical equipment manufacturing has excess production capacity of low-end products, while high-end products are seriously deficient, and technology is excessively dependent on foreign countries. The annual import volume is more than US$10 billion. The development of the industry needs to take independent innovation as the center, take energy saving and emission reduction as the breakthrough, and constantly optimize the industrial transformation and upgrading.