S&P Global Ratings has improved the TMK rating to the Stable. The agency has also confirmed the company long-term ratings in foreign and local currency on the level of B+. “The Stable forecast shows our expectation of the company to continue making efforts to decrease the share of loan funds”, the agency said. According to…
Holders of $500 million worth Eurobonds of the Russian oil and gas pipe producer TMK have agreed to change conditions of a 2020 issue sold at 6.75%, the company said in a statement on November 16. In late October, the company offered several changes to the conditions, including a release of TMK’s U.S. subsidiary IPSCO…
In January-September the income of TMK increased by 31% YoY, to $3.191 billion. According to the company statement, in Q3 the growth totaled 3% QoQ, to $1.14 billion. EBITDA for Q3 increased by 27%, to $169 million, for 9 months – by 14%, to $444 million. Net profit totaled $22 million in Q3 and $46…
TMK has started producing casing pipes with the unique TMK UP ULTRA GX thread joints. The first batch has been shipped to Samaraneftegaz, a daughter company of Rosneft. The new thread joints fully comply with ISO PAS 12835. TMK share in the segment of premium thread joints on the Russian market in January-September reached 81%.…
PAO TMK, one of the world’s leading producers of tubular products for the oil and gas industry, presented its new ten-year strategy to 2027 and an update on performance at its 5th annual Capital Markets Day in London. The new strategy will reinforce TMK’s position as a leading supplier to the global OCTG market, the…
TMK has started manufacturing insulated tubings of the 89-48 mm size with triangular section thread connection according to GOST 633. The first batch of 5.2 thousand meters of tubings produced by Sinarsky Pipe Works has been shipped to Udmurtneft. The tubings were made to order. “We continue increasing the range of insulated tubing sizes. This…
Russian oil and gas pipe maker TMK expects that the U.S.’ demand for the company’s products will double to around 5 million tons in 2017, Sergei Alekseyev, director for global marketing, reported. “Thanks to the U.S. market recovery demand will be about twice as high as in 2016 and will amount to around 5 million…
Dmitry Pumpyanskiy, Chairman of the Board of Directors of TMK, and Alexander Shiryaev, CEO of TMK, have visited Lebedinsky GOK and OEMK (parts of Metalloinvest). During the visit, the management team of TMK learned about the production process of hot-briquetted iron (HBI). During the visit to OEMK, the TMK delegation was introduced to Metalloinvest’s steel…
