Jiangsu Province-based Chinese steel tube producer Changbao Steel Tube Co. has announced that it has won a tender to supply oil country tubular goods (OCTG) to China National Petroleum Corporation (CNPC).
Accordingly, Changbao Steel Tube will supply a total of 161,360 mt of OCTG produced in line with API standards, which will account for 30 percent of its total annual production. The supply volume will include 151,360 mt of finished tubes and 10,000 mt of light pipes. Deliveries are due to be completed before June 30, 2013. The sales revenues in question are expected to reach RMB 850 million ($136.2 million).