By using DEA-BCC model and DEA-Malmquist index model, we make a comprehensive comparative analysis of the overall static and dynamic efficiency of technological innovations in China's petroleum universities from 2007 to 2016. The results show that all comprehensive, scale and pure efficiencies of technological innovations in China's petroleum universities in 2016 fall short of DEA, and apparent discrepancies exist between universities. The scale and structure of resource allocations are key to the comprehensive efficiency of technological innovations. From a dynamic perspective, the total factor productivity of the innovation efficiency of most petroleum universities is decreasing conspicuously, and the lower indexes of technological progress and change of technological efficiency are important factors contributing to the decline of total factor productivity of technology innovations. To improve the efficiency of innovations, we should improve the management of scientific research in universities, educate high-end technical and research talents, target at the frontiers of energy science and technology, increase supplies for university innovations, strengthen cooperation between industry, university and research organization, and promote the marketization of the innovations.