Russian oil and gas pipe producer TMK increased pipe sales by 10.6%, to 3.806 million tons in 2017, the company said in a statement.
“The year was favorable for TMK, as the company raised sales by more than 10%. OCTG pipes were in especially high demand on our major markets, in Russia and in the U.S. We think that the trend will continue and in 2018 as well. TMK will be able to raise sales and improve financial figures,” the company said citing CEO Alexander Shiryayev.
Sales of seamless pipes rose by 11.6%, to 2.676 million tons in 2017 and sales of welded pipes grew by 8.4%, to 1.129 million tons. Sales of casing and tubular goods rose by 25.9%, to 1.765 million tons.
In October-December 2017 the company’s pipe sales fell by 2.8% QoQ, to 985,000 tons due to a seasonal decrease in demand for welded industrial pipes. Sales of seamless pipes rose by 4.5% QoQ, to 680,000 tons, of welded pipes fell by 15.9%, to 350,000 tons, and of casing and tubular goods shrank by 0.5%, to 453,000 tons.
TMK also expects its financial and operating figures to improve in 2018. (Prime/Ukrainian metal)