Albany, NY -- (ReleaseWire) -- 05/16/2014 -- Along with the sustained and stable development of China's economy as well as the accelerated industrialization, China’s demand for oil and natural gas has kept rising rapidly in recent years. In 2013, China's oil and natural gas consumption reached 498 million tons and 167.6 billion cubic meters respectively, up 4.5% and 14.6 % year-on-year.
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Amid the jumping demand for oil and natural gas, China has enhanced the construction of oil and gas pipeline networks. In 2013, Chinese oil and gas pipeline network pattern initially formed with the total mileage of 106,200 kilometers. In accordance with "Twelfth Five-Year Plan", the total length will be about 150,000 km by 2015, which will boost the development of oil and gas transmission steel pipes and other related materials to a certain extent.
Welded pipes and seamless steel pipes, especailly SSAW (Spirally Submerged Arc Welding) and LSAW (Longitudinally Submerged Arc Welding), are required in the construction of oil and gas transmission pipeline networks. As of the end of 2013, China had been building and proposed to set up six trunk oil and gas transmission pipelines; CNPC and CNOOC had been establishing and planned 10 gas pipelines which will be completed successively in 2014-2016. The above 16 pipelines need about 11.19 million tons of SSAW (70%) and LSAW (30 %).
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In China, major SSAW and LSAW manufacturers consist of Shengli Oil & Gas Pipe, PCK, Baoji Petroleum Steel Pipe and so on. PCK is China's largest longitudinal welded pipe manufacturer. At the end of 2013, PCK’s four production bases were equipped with six longitudinal welded pipe production lines with the annual capacity of 1.9 million tons, two spiral welded pipe machine production lines and a high-frequency ERW (electirc resistance welding) pipe production line with the combined annual capacity of 810,000 tons.
Oil well pipes are mainly used in oil and gas exploration and exploitation, devived into tubings, casings and drill pipes. In 2013, China produced about 5.8 million tons of oil well pipes, and the apparent consumption approximated 4.5 million tons.
At present, the competition pattern in Chinese oil well pipe market remains stable in a relative sense, and main players like Baosteel, Changbao Steeltube, WUXI SEAMLESS OIL PIPE, Anhui Tianda and Hengyang Valin Steel Tube occupy more than 80% market share. Moreover, to adapt themselves to the new situation that oil exploration heads toward deep and ultra deep wells as well as geological environments become increasingly complex, some manufacturers represented by Changbao Steeltube are adjusting their product mix.
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By the end of 2013, Changbao Steeltube had accomplished 80 % of its high-end oil well pipe processing line project invovled with the total investment of RMB159 million. The project is to upgrade products on the basis of the original equipment, including one 85,000-ton non-API tubing heat treatment production line and one 40,000-ton finished pipe thread line.
Leading Oil & Gas National Oil Companies - Financial & Operational Fundamental Analysis and Benchmarking-2013
It provides detailed information on the key operational and financial parameters for the last five years. It also highlights the top ranked company on various operational and financial parameters such as proved oil and gas reserves, production, capital expenditures, performance metrics, results of oil and gas operations and valuation metrics.
Proved oil and gas Reserves of the leading oil & gas National Oil Companies increased in 2012, from 397,509 million barrels of oil equivalent (mmboe) in 2008 to 539,518 million barrels of oil equivalent (mmboe) in 2012. Petroleos de Venezuela S.A. had the highest proved oil and gas reserves of 330,470 million barrels of oil equivalent mmboe among the leading oil & gas National Oil Companies. The total cost incurred by leading oil & gas National Oil Companies was US$181 billion in 2012, increase at a CAGR of 8.9% from US$129 billion in 2008.
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Floating Production Storage and Offloading (FPSO) Industry - Global Market Analysis, Competitive Landscape and Planned Projects to 2016
The report provides information on all the major countries that have deployed FPSOs, the major operator companies and the key FPSOs in various regions across the world. The report also provides key trends and challenges in the global FPSO market and planned FPSO projects in different countries globally by 2016. It also details the competitive landscape of FPSO operators globally, and details the operations of the major FPSO-operating companies.
FPSOs are gaining importance in the oil and gas industry for use in offshore oil and gas production. FPSOs can be deployed at offshore production sites and are economic to use in offshore areas over fixed platforms. FPSOs can be installed in deep and ultra-deep waters, and they eliminate the need for the establishment of pipelines for oil and gas transportation.
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