Argentinian-Italian group Tenaris Techint has been in talks with Venezuela’s state-run oil company PDVSA to sell steel tubes for the PDVSA’s oil projects, according to media reports.
Executives at Tenaris Techint traveled to Venezuela this week in an effort to market the product in the South American country.
Recently, Tenaris temporarily halted operations at its steel plant in the city of Campana, in the region of Buenos Aires, for a potential period of six months, according to media reports, adding that the plant exports about 70 percent of what it produces.
The demand crisis affecting Tenaris Techint, Argentina’s largest private company, also showed adverse effects on Techint’s businesses outside Argentina. Earlier this year, Tenaris announced it temporarily suspended operations at its welded tubes mill Conroe in Texas. So far, there were no announcements on the part of the company that operations have resumed.
PDVSA has been seen as a key contractor for some Latin America steel producers.
Recently, Venezuelan steelmaker Sidor said it was providing 30,000 mt of seamless steel tubes to PDVSA. The steel tubes will be used at Bariven and Petro San Feliz, subsidiaries of PDVSA.