MOSCOW, Jan 19 (PRIME) -- Russian oil and gas pipe producer TMK increased pipe sales 10.6% to 3.806 million tonnes in 2017, the company said in a statement on Friday.
“The year was favorable for TMK, as the company raised sales by more than 10%. OCTG pipes were in especially high demand at our major markets, in Russia and in the U.S. We think that the trend will continue and in 2018 as well. TMK will be able to raise sales and improve financial figures,” the company said citing CEO Alexander Shiryayev.
Sales of seamless pipes rose 11.6% on the year to 2.676 million tonnes in 2017 and sales of welded pipes grew 8.4% to 1.129 million tonnes. Sales of casing and tubular goods rose 25.9% to 1.765 million tonnes.
In October–December 2017, the company’s pipe sales fell 2.8% on the quarter to 985,000 tonnes due to a seasonal decrease in demand for welded industrial pipes. Sales of seamless pipes rose 4.5% on the quarter to 680,000 tonnes in October–December, of welded pipes fell 15.9% to 350,000 tonnes, and of casing and tubular goods shrank 0.5% to 453,000 tonnes.
TMK also expects its financial and operating figures to improve in 2018.
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