Russia-based TMK, one of the world's leading oil and gas steel pipe producers, has announced its operational results for the first half of the current year.
In the first half of the year, TMK shipped 1.52 million mt of steel pipes, increasing by 10.1 percent year on year, while the company’s seamless pipe shipments grew by 3.4 percent to 918,000 mt and its welded pipe shipments increased by 22.3 percent to 603,000 mt, both year on year.
Meanwhile, in the six months of this year, TMK's oil country tubular good (OCTG) shipment volumes decreased by 7.8 percent quarter on quarter to 495,000 mt due to a general drop in demand for casing and drill pipe in the Russian market.
According to TMK’s statement, in the third quarter of this year TMK expects no improvement in the European pipe market due to the holiday season. In 2015, TMK expects shipments to remain mainly stable compared to the previous year. Lower sales in the US will be offset by higher shipment volumes in TMK’s Russian division.