The development trend of China's oil drilling equipment industry and the level of international oil prices have a greater impact. In 2011, the petroleum and petrochemical equipment industry faced an extremely complex economic environment at home and abroad. The total industrial output value and industrial sales growth rate exceeded the year-on-year growth rate by more than 30% in December, and the export delivery value grew under the influence of the European debt crisis. The rate is also 28%, which is not easy. This is the result of joint efforts of the entire industry. 2012 is the second year of the “Twelfth Five-Year Plan”. It is a year when the Chinese economy “stably stabilizes in the continuous decline” and it is also a very complicated year. The economic operation of China's petroleum and petrochemical equipment industry in 2012 will face a severe test. Due to the recent changes in the U.S. economy, the recovery is still weak. The outlook for the European debt crisis is still unpredictable. Many economic research reports believe that 2012 will be a difficult year for the European economy, and the possibility that the European economy will stagnate or even moderate decline will increase. It is predicted that in the short term, the economic trends of the world’s major economies, including the United States and the European Union, will still be insufficient to create a strong stimulus to international oil prices. However, the unstable situation in major oil producing countries in the Middle East and Africa, such as Iran, Syria, and Nigeria, and Iran’s potential Closing the threat of the important international crude oil transport channel in the Strait of Hormuz will become a factor that limits the drop in oil prices. On the other hand, economic growth in emerging markets and developing countries continues to outpace the developed countries. All of this has put pressure on the international crude oil market. Under the pressure of the weak global economic growth, international oil prices have risen weakly. If there are no major events in major oil exporting countries, international oil prices will still oscillate at a high level of around US$110 per barrel. For some time in the future, the funds for conventional and unconventional oil and gas resources in global financial investment will increase, the growth rate of the world economy will slow down, and uncertain factors will increase. This will inevitably cause great uncertainty in the prospects of the international oil price market, and its market price will be vulnerable to geographical origins. The political, climate change, natural disasters and other sudden factors fluctuate violently. The oil refining and chemical equipment industry is facing the risk of a new round of overcapacity in the global refining and chemical industry, coupled with the slowdown in the economic growth of the refining and chemical industry in China this year. It is expected that the economic operation speed of the petroleum and petrochemical equipment industry will continue to achieve double-digit growth in 2012, but the growth rate will decline slightly. The growth rate of production and sales is expected to be around 25%, while the profit growth will be lower than that of production and sales, which is expected to be around 15%, and the export growth is expected to be around 20%.

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