Russia’s leading producer of tubular products for the oil and gas industry, TMK Group, has announced its operational results for the fourth quarter and twelve months of 2018, Finam.ru reports.
Total pipe shipments grew 6% year-on-year, to 4 010 000 tons (t), mainly driven by higher seamless OCTG shipments at the Russian division and increased shipments of both seamless and welded OCTG pipe at the American division, due to stronger drilling activity in North America, the company said.
Seamless pipe shipments were up 3% year-on-year, to 2 767 000 t, mainly reflecting increased shipments of OCTG pipe at the Russian division.
Welded pipe shipments were up 11% year-on-year, to 1 243 000 t, mainly driven by higher shipments of welded pipe at the American division and increased shipments of large diameter pipe in Russia.
TMK also said that shipments of premium threaded connections grew 31% year-on-year, to 1 034 000 joints, driven by the increasing complexity of hydrocarbon production projects in Russia and the U.S., where TMK’s premium products are used.
The pipe producer predicts that consumption of pipes by companies of the fuel and energy complex in Russia will remain at a high level. Increasing the complexity of hydrocarbon production projects in Russia will lead to a further increase in demand for high-tech products, the company said.
