Russia-based TMK, one of the world's leading oil and gas steel pipe producers, has announced its operational results for the first nine months of the current year.
In the January-September period, TMK shipped 3.159 million mt of steel pipes to customers, representing a 1.3 percent decrease compared to the same period of last year. Shipments in the third quarter rose by 6.7 percent quarter on quarter to 1.103 million mt.
In the first nine months of the year, seamless pipe shipments grew by 2.3 percent year on year to 1.848 million mt. Shipments of seamless pipes in the third quarter increased by 3.3 percent quarter on quarter to 621,000 mt.
TMK's welded pipe shipments dropped by 5.9 percent year on year in the first nine months to 1.311 million mt, due to weaker demand for large diameter (LD) pipes and industrial pipes. The third quarter welded pipe shipments were up by 11.4 percent compared to the second quarter, totaling 482,000 mt.
In the January-September period of the current year, TMK's oil country tubular good (OCTG) shipment volumes increased by 5.5 percent year on year to 1.417 million mt, while in the third quarter shipment volumes registered a 7.1 percent decline compared to the second quarter, falling to 446,000 mt.
Shipments of premium connections rose to 649,000 joints in the first nine months of 2014, up 13.3 percent year on year, with shipment volumes up 20.7 percent quarter on quarter in the third quarter this year.
The Russian pipe market is likely to see an expansion in the fourth quarter this year, driven by an increase expected in horizontal drilling and in the development of oil and gas fields, as well as by the start of the new procurement season. Accordingly, TMK expects steady demand for oil and gas pipes, particularly seamless OCTG.
