Russia-based TMK, one of the world's leading oil and gas steel pipe producers, has announced its operational results for the fourth quarter and the full year of 2018.
In the fourth quarter, TMK shipped one million mt of steel pipes to customers, up six percent quarter on quarter. In the same period, shipments of seamless pipes increased by 17 percent quarter on quarter to 742,000 mt, while welded pipe shipments fell by 17 percent quarter on quarter to 264,000 mt.
Meanwhile, in the fourth quarter, TMK's oil country tubular good (OCTG) shipment volumes totaled 536,000 mt, up 14 percent quarter on quarter.
In 2018, TMK shipped 4.01 million mt of steel pipes in total, rising by six percent compared to 2017. On the other hand, shipments of seamless pipes totaled 2.77 million mt, up by three percent, and welded pipe shipments amounted to 1.24 million mt, up by 11 percent, both year on year.
According to the company statement, TMK anticipates continued growth in shipments, supported by strong pipe consumption from oil and gas companies in Russia and the US, and sustained demand for seamless industrial pipe in Europe.