Russia-based TMK, one of the world’s leading producers of oil and gas steel pipes, has announced its annual operational results.
In 2019, shipments of TMK’s steel pipes worldwide decreased by five percent year on year to 3.8 million mt, reflecting a weaker performance by the American division. In the given year, the company in particular shipped 2.625 million mt of seamless pipes and 1.176 million mt of welded pipes, with a five percent decline in both segments. TMK’s total OCTG shipments in 2019 amounted to 1.738 million mt, down 11 percent year on year.
The impact of lower total shipments at the American division was partially offset by the strong performance of the Russian division, where total pipe shipments increased by five percent year on year, driven by a four percent increase in shipments of seamless OCTG pipes and a 56 percent increase in large diameter pipe shipments. According to the official releases, in early 2020 TMK sold 100 percent of the shares in the American division, IPSCO Tubulars Inc., to Tenaris, the world’s leading supplier of tubes and related services.