BSG becomes world's largest oil pipe supplier

SteelOrbis Shanghai Shanxi Province-based Baoji Petroleum Steel Pipe Co. Ltd (BSG) achieved pipe production of 587,600 mt in 2006, up 15 percent year on year. Meanwhile, the company's sales revenues increased 155 percent to RMB 3.65 billion ($468 million) while profits were up 140 percent to RMB 180 million ($23 million). Remarkably, BSG won the bid for the Indian “West-East Gas” contract of 600,000 mt of pipeline, totaling $532 million in value, which broke the exports record for oil equipment from China. By the end of 2006, the company had sent around 338,000 mt of steel pipes to India, receiving $277 million in payment, thus becoming the largest oil pipe supplier in the world.