Russian state-owned integrated oil company Rosneft has announced that it has signed long-term contracts with Russian pipe producers TMK and Chelyabinsk Pipe Rolling Plant (ChelPipe) for the supply of tubular products for a period over five years. Pipe supplies will start in the second half of the current year.
According to Rosneft, during the contract period the share of TMK products in the total volume of pipe supplies from the two companies will be over 50 percent.
Meanwhile, ChelPipe stated that at the end of 2016 the share of contracts with Rosneft accounted for 11 percent of the revenues of its pipe division.