Steel tube and pipe producer Tenaris saw its net revenues for South America in Q3 this year rise 14 percent, year-on-year, the company said this week while releasing its quarterly results.
Tenaris said its South America business reported a revenue of $256 million in Q3 this year, up from $225 million in the same quarter of the year prior. When compared to Q2 this year, Tenaris’ net revenues in South America grew 13 percent, quarter-on-quarter.
The company attributed the improved net revenues in South America due to increased activity at Argentina’s Vaca Muerta shale gas deposit.
As for the nine months of the year, from January to September 2017, net revenues in South America was 16 percent down, year-on-year, to $686 million.