Owns China's 2nd largest oilfield---Shengli Oilfield, Dongying locates in the economic center of Shandong province, contributes a lot in the course of Shandong's economic construction. By the end of 2007, Dongying's total output value of enterprises engaged in oil equipment was up to 1.62 billion USD, and net profit has reached nearly 1.461 million USD, accounting for 31.3%, and 21.7% of China respectively.
Besides, Dongying city gathers majority of large and famous oil and gas production companies, equipment manufactures and energy-related engineering and consulting firms. China University of Petroleum is also situated in the city having 25 research centers for petroleum exploration.

