Oilfield Services Engineering Sector Strengthens Intraday as Institutions Say Industry Shifts from Asset-Heavy to Technology- and Service-Driven Model

Industry
โดย 21世纪经济·Read original
Summary · why it matters

The oilfield services engineering sector rose 2.18% intraday, with Xinjin Power up 3.85%, Beiken Energy up 3.64%, Tongyuan Petroleum up 3.50%, Zhongman Petroleum up 3.14%, and Qianneng Hengxin up 2.36%. A research note from CICC pointed out that the global FLNG market is accelerating its expansion, with global FLNG liquefaction capacity expected to exceed 20 million tonnes per year by 2026 and surpass 30 million tonnes per year by 2030, driving sustained demand for offshore engineering equipment and related technical services. The Middle East oilfield services market offers vast opportunities, projected to grow from 83 billion US dollars in 2023 to 131 billion US dollars in 2029. Chinese oilfield service companies currently hold a relatively low share in the region, presenting significant potential for import substitution and market share gains. Coupled with high utilization rates of domestic drilling equipment and the accelerated phase-out of older assets, there is upside potential for drilling rig day rates, as the industry transitions from an asset-heavy model to one focused on technology and services.

Impact on stocks 5

Others▲ · 5 stocks
Tong Oil Tools
300164
▲ PositiveDemandrelevance

Article mentions Tongyuan Petroleum up 3.50% and cites growing demand for oilfield services from FLNG and Middle East.

Zhongman Petro & Natural Gas
603619
▲ PositiveDemandrelevance

Article mentions Zhongman Petroleum up 3.14% and highlights growing demand for offshore engineering equipment and services from FLNG expansion and Middle East market growth.

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