On June 13, the Dongying Petroleum Machinery and Equipment Manufacturing Industry Association of Shandong Province was officially established. The first “China (Dongying) Petroleum Machinery and Equipment Manufacturing Development Forum” was held at the same time.

It is understood that after the establishment of the Dongying Petroleum Machinery Equipment Manufacturing Association, it will insist on the promotion of industrial development as its mission, innovate service methods, improve service quality, and promote the exchange of learning, technical cooperation and market development among enterprises, and to make Dongying Petroleum bigger and stronger. The machinery and equipment manufacturing industry took a road and created experience to quickly build Dongying into the country's largest base for oil machinery and equipment manufacturing.

In recent years, the oil machinery and equipment manufacturing industry in Dongying City has developed rapidly. It has formed a relatively complete industrial system integrating R&D, manufacturing, services, and internal and external trades. The products cover geophysical prospecting, drilling, well logging, oil and gas development, and downhole operations. In the field of surface engineering, pipeline transportation, oil refining, petroleum auxiliaries, petrochemicals, and petroleum equipment accessories, the product technology basically represents the domestic advanced level and has begun to move toward the international market. As of the end of 2006, Dongying had 232 companies engaged in petroleum equipment, petroleum accessories, petroleum additives, and services, with sales revenue exceeding 100 billion yuan, profits and taxes of 20 billion yuan, accounting for 35% and 40% of the country respectively.

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