Continuous Basalt Fibre (CBF) is a new type of materials which has been applied to many fields, including national defense, industry, and civil usage. In recent years, Russia and other countries have made pipes from CBF and used them to oil industry successfully, including oil casing, tubing, and ground oil pipelines. The main types and properties of CBF casing, tubing, and ground oil pipelines are introduced, and the application effects and advantages, that prove CBF pipes could be technically used in oil fields, are analyzed. Meanwhile, the applications and prospects for CBF pipe in China have been discussed from following aspects, such as raw materials, technology index, and demands, as well as technical difficulties.