Petroleum companies expand capital expenditures, the oil service industry is gradually picking up

Affected by favorable factors such as rising oil prices and increased upstream spending by oil giants, China's oil service industry is recovering in an all-round way

According to industry insiders, although the overall economic outlook for the world is still uncertain, the recovery trend can be expected, and the oil service industry will continue to pick up

Rising oil prices have a huge impact on the profits of oil companies.

In the first half of the year, with the promotion of the vaccine, the global economy gradually got rid of the impact of the epidemic and slowly resumed growth.

"International oil prices showed an upward trend in the first half of the year.

Rising oil prices have increased upstream oil service spending

On the whole, the pace of CNPC's capital expenditures deviates from that of Sinopec and CNOOC

"The rebound in international oil prices has promoted oil companies to increase upstream capital expenditures, and oil companies have continued to increase their exploration and development efforts.

　　In the same period, the net profit of CNOOC Engineering increased by 264% year-on-year; the net profit of CNPC Engineering increased by 131% year-on-year; the net profit of Tongyuan Petroleum increased by 126% year-on-year

　　In addition to the rise in oil prices, the implementation of the national energy security strategy has also boosted the process of expanding capital expenditures by oil companies, and oil service-related companies have enjoyed policy dividends

　　Looking forward to the second half of the year, the future of the oil service industry can be expected

　　From a domestic perspective, the end market demand for downstream agriculture, forestry, fishery, and infrastructure projects has increased significantly, and the demand for diesel has improved

　　From an international perspective, with the epidemic under control, the world economy is expected to improve as a whole