Russia-based TMK, one of the world's leading oil and gas steel pipe producers, has confirmed its overall positive outlook for the pipe market in 2012 and expects a slight increase in sales volumes and further improvement in the product mix compared to 2011.
The spending budgets of Russian oil companies are continuing to grow in 2012 driven by continuing high oil prices which should support demand for oil country tubular goods (OCTG) and line pipes. Although work is scheduled to start on a number of pipelines both in Russia and in CIS countries in 2012, overall demand for large diameter pipes is looking weaker this year compared to a year ago.