As the petroleum equipment sector grows against the general trend of retraction, petroleum exhibitions are extraordinarily popular.
Despite the impacts of the global economic slowdown this year, data indicate that the petroleum equipment sector has been growing against the general trend of retraction. The petroleum drilling equipment market is particularly prospering. During the first 5 months of 2012, the manufacturers of petroleum drilling equipment earned a total profit of RMB 3.659 billion, representing a year-on-year growth of 44.16%, 22.32 percentage points higher than the same period of last year.
With the continuous expansion of onshore petroleum extraction, deep-sea petroleum exploration, and development of unconventional oil and gas, the petroleum drilling equipment sector is widely believed to have a rosy prospect.
The thriving of the petroleum equipment sector has led to crowded exhibitions. It is reported that cippe, the world’s largest exhibition of the petroleum industry annually held in Beijing in March, had more than 60% of its booths booked in only 2 months.
On one hand, nearly 100 enterprises will have their debut show at cippe, while on the other hand, previous exhibitors will increase the size of their exhibition area this year. For example, the CNPC Pavilion intends to increase their area of exhibition from last year’s 4,000m2 to 6,000m2; SINOPEC plans to take an area of 3,000m2 for its engineering survey; Jereh’s exhibition area will expand from 750m2 to 1,200m2; Creat Group’s to 750m2 and Xi’an KOSUN’s from 90m2 to 350m2.
Source: Business Wire
To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today