Japanese steelmaker Nippon Steel and Sumitomo Metal Corporation (NSSMC) has announced that in June this year, together with Sumitomo Corporation, it signed the renewal of a master agreement for the supply of line pipe with global oil and gas company BP. The long-term agreement is effective from July 1, 2016 for five years with an option to extend it for another five years.
NSSMC and Sumitomo Corporation have had a long-term contract with BP since the 1990s with regard to product supply, development of customized new products, total solution proposals, cost optimization, and solid delivery service.