Dongying City, Shandong, 23rd September 2022, ZEXPRWIRE, The world has recently witnessed a growing movement advocating against using fossil fuels. People have become more aware of the consequences of using fossil fuels for power generation, especially as the effects of climate change become more apparent. Many nations have started adopting renewable energy solutions, like nuclear, solar, wind, and geothermal power, for electricity generation. Statistics show approximately 63 percent of the world’s electricity came from fossil fuels in 2020. Until then, oil and gas will remain essential for meeting global electricity needs. The reality is that switching to these from fossil fuels will require undergoing a transitionary period.
Since oil and gas remain essential, companies extracting these resources from the Earth’s surface must use advanced technologies and solutions to make the process more efficient. Oil country tubular goods are essential for modern oil extraction. Products and solutions used in drilling activities must be durable. Otherwise, they’ll crack under the pressure of these activities, resulting in oil spills. Likewise, they could also contribute to unwanted gases and fluids entering the drilling well.
OCTG equipment generally consists of drill pipes, casing, and tubing. Most of the world’s OCTG equipment is produced according to the American Petroleum Institute’s specifications. This organization ensures the safety and versatility of OCTG equipment with its strict and standardized production specifications.
Statistics show that the global oil country tubular goods market was worth approximately $21 billion in 2020. However, experts project it’ll grow to $37.5 billion by 2030, expanding rapidly at a compound annual growth rate of 6.5 percent.
CNPS is a complete energy solutions provider. The company began operating in 2008 by offering oil country tubular goods and equipment, like pipes and bars, to the oil and gas industry. Since then, the company has gone from strength to strength. The company has grown exponentially, becoming a complete energy solutions provider. While the company’s priority remains to establish itself as a leading oil and gas solutions provider, it’s much more than that. CNPS also offers advanced renewable energy solutions, including geothermal energy and onshore and offshore wind energy solutions.
Furthermore, the company also provides quality nonmetallic solutions for industrial use, like fiberglass products and solutions. The company’s fiberglass piping systems and tanks are used in many industries, including the oil and gas sector. Furthermore, the company also builds electronic solutions for home and office use. The company’s manufacturing plant in China produces television and mobile accessories.
In conversation, a company spokesperson shared, “Oil country tubular goods are essential for modern oil extraction. These goods are created using specialized techniques to ensure they can withstand the high torque of drills, axial tension, and internal liquid pressure during drilling activities. They’re designed following the American Petroleum Institute’s specifications to ensure safety and versatility. Regular products cannot withstand the environmental pressures that arise in drilling activities, making them more likely to crack and falter. Faltering equipment can be detrimental because it affects extraction schedules and compromises worker safety. CNPS is a leading OCTG equipment provider. Whether you’re drilling onshore or offshore, we can provide you with the right equipment to ensure you can harvest the most oil and gas from the Earth’s surface possible.
CNPS is a complete energy solutions provider. The organization launched in 2008, offering OCTG pipes and bars products and solutions. Since then, they’ve grown to become a leading energy solutions provider. Their offerings include renewable and sustainable energy solutions, oilfield service equipment, electronic product solutions, mud logging equipment, etc.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Stats Observer journalist was involved in the writing and production of this article.