Tenaris, the largest global producer of seamless steel tubes for the oil industry, reported earnings per share of US$0.17 and net sales of $2.68 billion in the fourth quarter of 2014.
The company, which is headquartered in
Luxembourg and is controlled by the Argentine industrial group Techint, said it is adjusting its operations "and preparing for what may be a prolonged period of low oil prices."
Moreover, the company expects 2015 revenues in
South America to be supported by sales from pipeline projects in
Argentina and Brazil.