Shandong Molong Petroleum Machinery

What Shandong Molong Petroleum Machinery does

Shandong Molong Petroleum Machinery Co., Ltd. (山东墨龙石油机械股份有限公司) is a Shouguang, Shandong-based manufacturer of oil country tubular goods (OCTG) and upstream oilfield equipment, founded in 1987 and dual-listed on the HKEX (2004) and the Shenzhen Stock Exchange under code 002490 (2010). The company's core product lines include OCTG pipes, premium threaded connections, sucker rod pumps, and sucker rods, complemented by proprietary metallurgical capabilities built around HIsmelt short-process ironmaking technology acquired from Rio Tinto. Its product portfolio is anchored by its ML125V high-torque casing connection and an installed base of 185 valid patents (including 20 invention patents), positioning it as a qualified supplier to API-specification upstream projects.

The company sells primarily to Chinese state oil companies — CNPC, Sinopec, and CNOOC — alongside National Pipe Network Group, Tarim Oilfield, and Southwest Oil and Gas Field, and exports to more than 18 countries across the Middle East, Africa, Central Asia, and South America, including recurring business with Kuwait Petroleum Company. Since 2021 it has operated under state-controlled ownership with a 29.53% controlling stake, and in 2024 appointed Han Gaogui as Chairman and General Manager. The business model is project-driven, B2B heavy-industrial manufacturing: revenue is generated through bidding on upstream oilfield procurement tenders (a RMB 136.9 million bid win is disclosed) and through export channel contracts, with pricing tied to tonnage, steel input costs, and API-grade specifications. The company reported 2025 revenue of approximately RMB 1.8 billion across 400,000 tons of output and returned to profitability after nearly a decade of losses, with Jan-May 2026 revenue of RMB 1.02 billion (+73% YoY). Recent strategic priorities include expanding overseas channels (Oman partnership, ADIPEC 2025 order wins of 40,000+ tons), diversifying into hydrogen-energy applications via China University of Petroleum collaboration, and building out international trade capability.

Name

Shandong Molong Petroleum Machinery

Legal name

山东墨龙石油机械股份有限公司 (Shandong Molong Petroleum Machinery Co., Ltd.)

Website

https://molonggroup.com

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Shandong Molong Petroleum Machinery is a China-based, state-controlled manufacturer of OCTG pipes, premium connections, and sucker rod equipment serving CNPC, Sinopec, CNOOC, and international oilfield operators across 18+ countries, with proprietary HIsmelt metallurgical technology and dual HKEX/Shenzhen listing.

Ownership category

akta.pro rank

Product category

Petroleum Machinery & Equipment

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132), Mining and Oil and Gas Field Machinery Manufacturing (33313)

SIC

Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

OCTG, Line Pipe & Tubular Services (Supply, Inspection, Threading) (EUALABAN)

Keywords

• Petroleum equipment manufacturing
• Oil country tubular goods
• Seamless steel pipes
• Premium thread connections
• Sucker rod pumps

Headquarters

HQ city

Shouguang

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Petroleum Machinery Product Sales: Primary revenue stream from manufacturing and selling petroleum machinery including seamless pipes (OCTG, line pipe), premium connection products (gas-tight connections), sucker rod pumps, sucker rods, and pumping units/valves/services. Products sold to domestic and international oil companies.
2. International Trade Products: Export of pipeline system accessories, wellhead equipment, and oilfield cementing products to international markets. Growing international business with customers from Middle East, Africa, Central Asia, and South America.
3. HIsmelt Technology Licensing: Technology licensing revenue from HIsmelt熔融还原 technology patents and know-how to third parties for short-process steelmaking applications.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Shandong Molong Petroleum Machinery Co., Ltd. is a state-controlled A+H listed manufacturer of petroleum machinery, producing oil country tubular goods (OCTG), seamless line pipes, premium gas-tight threaded connections, sucker rod pumps and rods, surface pumping units, valves, wellhead equipment, and oilfield cementing products. The company also licenses the proprietary HIsmelt (熔融还原) non-blast furnace ironmaking technology for short-process steelmaking applications, and operates a dedicated import/export division serving international oil and gas markets.

Product overview

Shandong Molong Petroleum Machinery Co., Ltd. is a state-controlled A+H listed company specializing in energy equipment manufacturing. The company operates as an integrated platform offering six main product categories: (1) Seamless Pipe Series including OCTG (oil country tubular goods), line pipes, and other seamless pipes for petroleum transmission; (2) Premium Connection Products featuring gas-tight connections and application-specific connections; (3) Pumps including standard and specialized sucker rod pumps for artificial lift; (4) Sucker Rod Products encompassing standard and special rods plus accessories; (5) Pumping Units, Valves, and Services for surface equipment; and (6) International Trade products including pipeline accessories, wellhead equipment, and cementing products. The company serves global petroleum markets with products used in exploration, drilling, and production operations across 18+ countries.

Differentiator

Problem solved

Functional benefit

Products and services

• OCTG (Oil Country Tubular Goods) Oil country tubular goods including oil pipes and casing pipes used by domestic and international oil and gas operators for petroleum exploration and extraction. Sold to CNPC, Sinopec, CNOOC, Kuwait Petroleum Company, and other oil field operators.
• Line Pipe Pipeline pipes for oil and gas transmission, including large-diameter seamless steel pipes for thermal pipeline networks used in steam pipeline infrastructure. Designed for oil and gas transmission line applications.
• Other Seamless Pipes Additional seamless pipe products including precision-rolled tubes for various industrial applications.
• Gas-Tight Connections Premium threaded connection products providing gas-tight sealing for oil and gas wells, including CS double-seal threaded connections with special thread designs for high-pressure applications and anti-galling properties. Sold to oil field operators including Tunisian Oil Company.
• Application-Specific Gas-Tight Connection Customized gas-tight connection solutions designed for specific oilfield applications and well conditions beyond standard products.
• Standard Sucker Rod Pump and Accessories Standard sucker rod pumps for artificial lift oil extraction systems, including associated pump components and accessories used in upstream oil production.
• Specialized Sucker Rod Pump Specialized sucker rod pumps including sand control pumps and deviated well pumps designed for challenging downhole conditions.
• Standard Sucker Rod Standard sucker rods used to connect surface pumping equipment to downhole pumps in artificial lift oil extraction systems.
• Special Sucker Rod Specialized sucker rods including intelligent sucker rods, high-strength corrosion-resistant rods, and anti-torque rods designed for screw pump and demanding downhole conditions.
• Sucker Rod Product Accessories Complete range of sucker rod accessories and components used for pump system assembly and artificial lift operations.
• Pumping Unit Surface pumping equipment for artificial lift oil extraction systems at well sites.
• Industrial Valves Industrial valves for oil and gas field applications in upstream and downstream operations.
• Oilfield Technical and Aftermarket Services Professional services including oilfield technical support, product customization, and aftermarket services for petroleum machinery customers.
• Pipeline System Accessories Supporting products for pipeline engineering including piping systems and related components for oil and gas transmission, exported through the company's international trade division.
• Wellhead Equipment Products Wellhead equipment for oilfield drilling and production operations sold through the company's international trade division.
• Oilfield Cementing Products Cementing products and solutions for oilfield well construction and completion sold through the company's international trade division.
• ML125V High-Anti-Torque Oil Casing Proprietary high anti-torque oil casing designed for large-displacement wells, high-angle wells, extended-reach wells, and ultra-deep wells. Features superior torque resistance for challenging downhole conditions.
• 13 3/8 Inch C95 Surface Casing Large-diameter 13 3/8 inch C95 steel-grade surface casing representing the company's breakthrough in large-specification OCTG product manufacturing.

Quantifiable outcome

• 2025 production output of 400,000 tons, up 65% year-on-year; operating revenue of 1.8 billion RMB, up 30% year-on-year; returned to profitability
• +3 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Danzhou Municipal People's Government (儋州市人民政府)coreStrategic or Co-development Partner · 18 December 2025Strategic cooperation signing ceremony held December 2025 for Molong (Hainan) Agriculture and Danzhou government agricultural project. Cooperation in project land use, facility support, talent introduction, brand promotion, and cross-border trade.
• China Civil Engineering Group Middle East CompanycoreStrategic or Co-development Partner · 5 November 2025Business meeting during ADIPEC November 2025 to discuss overseas project construction, equipment manufacturing, and oilfield services cooperation. Both parties agreed to establish stable, efficient cooperative relationship.
• Oman Local Advanced Petroleum Service CompanycoreStrategic or Co-development Partner · 3 November 2025Strategic cooperation agreement signed November 2025 at ADIPEC exhibition. Aims to promote Oman's transition from oilfield services to high-end manufacturing. Company to provide market resources, infrastructure, and procurement support.
• Shandong Agricultural University International Exchange CollegecoreStrategic or Co-development Partner · 4 June 2025University student employment internship base unveiled June 2024. Cooperation focuses on student internship practice and university-enterprise collaborative talent development. Agreement signed for joint cultivation of overseas talents.
• China University of Petroleum (East China) - School of Mechanical and Electrical EngineeringcoreStrategic or Co-development Partner · 28 September 2024Business exchange meeting held September 2024 to explore cooperation in offshore petroleum equipment, practical base construction, and talent cultivation. Both parties aim to build industry-university-research cooperation platform.
• Jiangsu Changbao Steel Pipe Co., Ltd.minorStrategic or Co-development Partner · 23 July 2024Delegation visit in July 2024 to discuss product upgrades, market expansion, and enterprise management. Both parties identified significant cooperation space and development prospects.
• China University of Petroleum (Beijing) - Pipeline Technology and Safety Research CentercoreStrategic or Co-development Partner · 4 July 2024Hydrogen energy cooperation agreement signed in July 2024. Joint establishment of hydrogen energy equipment base and oil/gas pipeline R&D base. Cooperation focused on hydrogen transmission pipeline technology and oil/gas pipeline innovation research.
• Hebei Xingang Technology Co., Ltd. (河北邢钢科技有限公司)coreTechnology or Integration · 8 February 2023HIsmelt technology implementation license contract signed February 2023. Partner to use HIsmelt technology in short-process steelmaking for 1.65 million ton iron capacity and 2.25 million ton steel capacity project.
• Tsinghua University (School of Materials)coreStrategic or Co-development Partner · 12 September 2019Strategic cooperation signed in September 2019 for HIsmelt high-purity pig iron research in high-end equipment applications. Collaboration on oil well pipe materials and new casting/forging products, joint research base construction, postdoctoral workstation talent exchange, and technical training for researchers.

Scale indicators10 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Tenaris: Global leader in OCTG and seamless pipe manufacturing with deep premium connection technology. Directly comparable to Shandong Molong as both serve oil & gas operators with OCTG, line pipe, and premium connections, though Tenaris operates at significantly larger scale and global footprint.
• Hengyang Valin Steel Tube: Chinese seamless pipe and OCTG manufacturer with Hunan-based steelmaking operations. Direct competitor in domestic OCTG procurement bids and overlapping customer base with Chinese NOCs; comparable technology portfolio including seamless pipes and casing for oil & gas applications.
• Vallourec: French-headquartered global OCTG and premium connections manufacturer. Highly comparable product portfolio (OCTG, line pipe, surface equipment) serving the same oil & gas customer base, with deep technology investment in premium threaded connections similar to Shandong Molong's CS double-seal offering.
• Jiangsu Changbao Steel Pipe: Chinese seamless pipe and OCTG manufacturer that is both a peer (competing for Chinese NOC procurement) and an existing collaboration partner of Shandong Molong (July 2024 strategic discussions). Comparable product portfolio in OCTG, line pipe, and boiler tubes serving oil & gas and industrial customers.
• Northwest Pipe Company: US-based manufacturer of welded and seamless steel pipe products including OCTG and line pipe for oil & gas and water infrastructure markets. Comparable in mid-cap scale and product portfolio overlap, though focused primarily on North American markets.
• TPCO Tianjin Pipe: China's largest seamless pipe and OCTG manufacturer, listed on Hong Kong Stock Exchange. Direct domestic competitor offering overlapping OCTG, line pipe, and casing products to Chinese NOCs (CNPC, Sinopec, CNOOC) and competing for international tenders in the same markets as Shandong Molong.
• TMK: Russian global OCTG and steel pipe manufacturer with vertically integrated steel production similar to Shandong Molong's HIsmelt-based integration. Comparable product mix spanning OCTG, line pipe, and industrial pipe serving oil & gas operators across CIS, Middle East, and other regions.

Broad incumbents

• ArcelorMittal: Global steel and mining giant with OCTG and tubular products division serving oil & gas customers worldwide. Competes broadly in commodity-grade OCTG markets where Shandong Molong operates, with advantages in raw materials integration and global scale.
• JFE Steel: Japanese integrated steelmaker with OCTG and line pipe divisions serving global oil & gas markets. Competes in premium-grade OCTG segments for deep-well and high-spec applications, representing a technologically advanced competitor in segments where Shandong Molong is investing (e.g., ML125V casing).
• Nippon Steel: Japan's largest steelmaker with significant OCTG and premium connection product lines (formerly Sumitomo Metals). Competes in high-end OCTG segments globally with technology and quality advantages, particularly in deep-well and offshore applications where Shandong Molong also competes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

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Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Shandong Molong Petroleum Machinery