DGAP-News
TMK Announces 1Q 2014 Operational Results - Seite 3
of steps to reduce the production and share of low-margin welded products
in its total output in response to low priced imports.
(2) This includes products manufactured by TMK's Russian and Romanian
facilities and sold on the North American market.
European Division
The first quarter of 2014 saw early signs of recovery in the European pipe
market. While consumption remains low, demand is mainly driven by tubular
product distributors stocking up their inventories.
In the reporting period, the European division shipped a total of 41
thousand tonnes of pipe, up 3% year-on-year, but down 5%
quarter-on-quarter.
Premium Segment
TMK ships pipe with premium connections and also provides threading
services for third parties. The demand for TMK UP premium connections
remains high, sustained by expansion of directional and horizontal drilling
in America. However, many American energy companies continue transition to
oil drilling, reducing the overall number of gas rigs and restraining
demand for premium connections, a product widely used in natural gas
production.
During the reporting period, TMK shipped more than 193 thousand joints of
premium connections, up 18% year-on-year.
Outlook
TMK expects the 2014 demand for tubular products in Russia to follow a
slight downward trend due to the unstable macroeconomic environment,
exchange rate volatility and uncertainty in commodity markets. Still, the
Company is planning to increase its shipments of seamless OCTG pipe,
including those with premium connections.
In the American market, TMK expects demand for OCTG to continue to improve
as the number of wells and footage drilled increases with the average rig
count, both in total number and particularly in the number of horizontal
rigs. However, the American division expects a minor decline in welded pipe
shipments due to continued pressure from unfairly priced imports. TMK also
expects a stronger demand for line pipe in the U.S.
The Eurozone economy is projected to return to cautious growth in 2014,
which will gradually drive tubular product consumption in Europe up.
In general, the Company expects a marginal decrease in its pipe shipments
for 2014.
***
For further information regarding TMK please visit www.tmk-group.ru or
download the YourTube iPad application from the App Store
https://itunes.apple.com/ru/app/yourtube/id516074932?mt=8&ls=1
TMK on Facebook - https://www.facebook.com/TMKGroupEN
***
ТМК (www.tmk-group.ru)
TMK (LSE: TMKS) is a leading global manufacturer and supplier of steel
pipes for the oil and gas industry, operating 28 production sites in
market. While consumption remains low, demand is mainly driven by tubular
product distributors stocking up their inventories.
In the reporting period, the European division shipped a total of 41
thousand tonnes of pipe, up 3% year-on-year, but down 5%
quarter-on-quarter.
Premium Segment
TMK ships pipe with premium connections and also provides threading
services for third parties. The demand for TMK UP premium connections
remains high, sustained by expansion of directional and horizontal drilling
in America. However, many American energy companies continue transition to
oil drilling, reducing the overall number of gas rigs and restraining
demand for premium connections, a product widely used in natural gas
production.
During the reporting period, TMK shipped more than 193 thousand joints of
premium connections, up 18% year-on-year.
Outlook
TMK expects the 2014 demand for tubular products in Russia to follow a
slight downward trend due to the unstable macroeconomic environment,
exchange rate volatility and uncertainty in commodity markets. Still, the
Company is planning to increase its shipments of seamless OCTG pipe,
including those with premium connections.
In the American market, TMK expects demand for OCTG to continue to improve
as the number of wells and footage drilled increases with the average rig
count, both in total number and particularly in the number of horizontal
rigs. However, the American division expects a minor decline in welded pipe
shipments due to continued pressure from unfairly priced imports. TMK also
expects a stronger demand for line pipe in the U.S.
The Eurozone economy is projected to return to cautious growth in 2014,
which will gradually drive tubular product consumption in Europe up.
In general, the Company expects a marginal decrease in its pipe shipments
for 2014.
***
For further information regarding TMK please visit www.tmk-group.ru or
download the YourTube iPad application from the App Store
https://itunes.apple.com/ru/app/yourtube/id516074932?mt=8&ls=1
TMK on Facebook - https://www.facebook.com/TMKGroupEN
***
ТМК (www.tmk-group.ru)
TMK (LSE: TMKS) is a leading global manufacturer and supplier of steel
pipes for the oil and gas industry, operating 28 production sites in
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