Recon Technology has received more than $1 million in new equipment orders from China National Petroleum Corporation (CNPC).
Recon received an RMB 6,700,000 (approximately $981,000 USD) order from the CNPC Qinghai Oilfield in China's Gansu Province. Crude petroleum from this area contains impurities including water and natural gas that must be removed before the petroleum can be sold. The order includes 11 patented oil field furnaces that remove these impurities and prevent solidification and blockages in oil pipelines. Recon's highly automated furnaces operate with 90% heating efficiency.
Recon also received an RMB 460,008 (approximately $67,000 USD) order from the CNPC Sebei Natural Gas Field in China's Gansu Province. This included 7,300 kilogram welding rods and welding wires used for gas transport pipes. The company secured this order based on the technical superiority of Recon’s welding materials that enable better seals and increased efficiency for gas transportation.
Recon Technology CEO Shenping Yin said, “These two orders from CNPC emphasize Recon's strong competitive position in increasing efficiency and profitability for China’s petroleum industry. We're pleased that leading Chinese oil and gas companies continue to rely on Recon for products to reduce equipment costs and enhance productivity levels and savings.”
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