Solitaire on Nord Stream 2 Job in Russia
Allseas-owned pipelay vessel Solitaire has started laying the first line of the Nord Stream 2 twin gas pipeline in Russian waters.Solitaire will spend about a month constructing one of the two approximately 100-kilometres-long sections in the Russian territorial sea.Solitaire, operated by Allseas, is a 300-metres-long and 41-metres-wide dynamically positioned vessel that will lay pipes around the clock seven days a week. It accommodates up to 420 people…
1000 Km of the Nord Stream 2 Pipeline Laid
1000 km of the Nord Stream 2 pipeline has now been laid in the Baltic Sea in Finnish, Swedish and German waters.Two Allseas pipelay vessels - Pioneering Spirit and Solitaire - are currently installing the pipeline in Swedish waters.Some twenty vessels are currently being engaged in the project in the Baltic Sea, with nearly 1,300 people working on board the pipelay, pipe supply and survey vessels.Another milestone was also reached last week, when the…
US Energy Companies Fume over Rejected Steel Tariff Exemptions
The U.S. Commerce Department recently granted a tariff exemption to oil major Chevron for its imports of 4.5-inch Japanese steel tubes for oil exploration.But the department rejected a similar request from Borusan Mannesmann Pipe to exclude 4.5-inch steel pipes imported from Turkey for casing used to line new oil wells.The reason: multiple U.S. steelmakers objected to Borusan's application, arguing they could supply the product, according to the department. Chevron drew no such objections.When U.S.
TMK Sees Steel Pipe Sales Rising in 2018
TMK, Russia's largest maker of steel pipes for the oil and gas industry, sees its steel pipe sales rising to 4.3 million tonnes in 2018 from 3.8 million tonnes this year due to stronger demand, TMK Deputy Chief Executive Vyacheslav Popkov told reporters on Tuesday. Last year, TMK, controlled by businessman Dmitry Pumpyansky, sold 3.4 million tonnes of its steel pipes. TMK also said it plans to increase its share in the Russian market of large-diameter pipes slightly from the current 15 percent.
Russian Oil Industry Pipe Maker TMK Prepares for U.S. Spin-off
TMK, Russia's largest maker of steel pipes for the oil and gas industry, is preparing its U.S. subsidiary IPSCO Tubulars for an initial public offering (IPO) of shares. The announcement comes amid concerns among some Russian officials about a potential expansion of U.S. sanctions against Moscow and as Russia itself has pledged to cut its oil output by 300,000 barrels per day as a part of the global deal. OPEC and non-OPEC oil producers look poised to agree at a meeting on Thursday to extend output cuts until the end of 2018…
TMK Reviews Options for US Assets
TMK, Russia's largest maker of steel pipes for the oil and gas industry, is considering different options for its U.S. subsidiary IPSCO but intends to keep a controlling stake in the firm, it said on Tuesday. On Monday, TMK IPSCO told Reuters that it did not plan to sell any assets and would be ready to consider alliances with the "global metal market players" in future. "While no decision regarding any specific action related to TMK IPSCO has been made…
A Great Lakes Pipeline Stirs New Protest
The growing protest movement against U.S. oil and gas pipelines has so far focused on stopping or delaying new construction, with some high-profile successes. Now, in Michigan, a broad coalition of opponents is entering a new frontier: Pushing to rip out and reroute an existing pipeline - Enbridge Inc.'s aging Line 5, which crosses the Straits of Mackinac. They fear the pipeline will leak into the Great Lakes, which contain about a fifth of the world’s fresh water and sustain the state’s second- and third-largest industries, agriculture and tourism.
TMK Offers up to $200 Mln to Buy Back Part of 2018 Eurobond
MOSCOW, April 13 (Reuters) - TMK, Russia's largest maker of steel pipes for the oil and gas industry, has offered up to $200 million to buy back some of its 2018 outstanding Eurobond, it said in a statement on Wednesday. The proposal was offered to eligible holders of its $500 million loan participation notes due in 2018, of which $408.8 million remain outstanding. (Reporting by Katya Golubkova; writing by Polina Devitt; editing by Jack Stubbs)
3 firms get Steel pipe Nord Stream 2 contract
The consortium of companies planning to build the Nord Stream 2 sub-sea pipeline to bring Russian gas to Europe said on Friday it has awarded steel pipe delivery contracts for 2,500 km (1,550 miles) to three firms, completing a tender. The steel pipes with a total weight of 2.2 million tonnes will be supplied by Europipe GmbH, a joint venture between German steelmakers Salzgitter and Dillinger Huette, with 40 percent of the contract, and Russian companies OMK (33 percent) and Chelpipe (27 percent).
Nord Stream 2 Awards Steel Pipe Contracts to Three Firms
The consortium of companies planning to build the Nord Stream 2 subsea pipeline to bring Russian gas to Europe from 2019 said on Friday it has awarded steel pipe delivery contracts for 2,500 kilometers to three firms, completing a tender. The steel pipes with a total weight of 2.2 million tonnes will be supplied by Europipe GmbH, a consortium which includes Salzgitter, with 40 percent of the contract and Russian companies OMK (33 percent) and Chelpipe (27 percent).
Oilfield Service Firms Cut to the Bone
Companies that supply drilling rigs, fracking sand and other necessary tools to the U.S. oil industry are finding themselves stuck with a choice between losing customers or making further price cuts that could wipe out their profits altogether. Oilfield services providers have bent over backwards during crude's relentless 17-month fall to meet demands from oil and gas producers to squeeze spending and reduce costs. As the price of crude oil plummeted by more than 60 percent in the last year and a half…
Russia's TMK Says Shipments Down
TMK, Russia's largest maker of steel pipes for the oil and gas industry, said on Wednesday it had shipped 2.9 million tonnes of steel pipe to consumers in the first nine months of 2015, down 7.1 percent year-on-year. The decrease was caused mainly by lower sales at its American Division, which was partially offset by increased shipments in Russia, it added in a statement. TMK added that it expected to keep 2015 shipments flat year-on-year. (Reporting by Svetlana Burmistrova; writing by Polina Devitt)
Vallourec Q3 Profits Drop on Brazil
Steel pipes maker Vallourec reported a 27.1 percent drop in core profits to 175 million euros ($218 million), hurt by lower orders by major customer Brazilian state oil company Petrobras. The French group had warned in June that earnings before interest, tax, depreciation and amortisation (EBITDA) would drop 10 percent this year as Petrobras ran down inventories to save money. Vallourec reiterated this target on Thursday. "This adjustment in stocks…
Polymer Technology Developments Present Opportunities
New advances in polymer lining systems are emerging as a credible and cost effective alternative to traditional corrosion resistant alloys (CRA), thanks to recent developments from Swagelining Limited. Over the last four years, Swagelining, a designer and installer of polymer linings for pipeline and riser systems, has been working with a number of oil companies, resin producers, global subsea EPC contractors, universities and niche manufacturers to…
Wind Server Gets its Legs
In Wismar, Rostock-Warnemünde, Germany, today the fourth and last steel jack-up leg was settled into its jacking position on the wind turbine service vessel WIND SERVER, currently under construction at Nordic Yards in Wismar for Danish customer DBB Jack-Up Services. During the past eight days the four huge steel pipes, which were transported to the Wismar shipyard by sea from Cuxhaven, were vertically raised and installed one by one with the aid of a giant lattice boom crane supplied specially for this project.
Vallourec Warns on Profit as Petrobras Cuts Pipe Stocks
Steel pipes maker Vallourec warned core profit would be 10 percent lower in 2014 compared with 2013's 920 million euros ($1.25 billion) as customers - mainly Brazilian state oil company Petrobras - run down inventories to save money. Petrobras alone will account for some 60 million euros of the slide in earnings before interest, tax, depreciation and amortisation (EBITDA), which Chairman Philippe Crouzet on Tuesday told reporters would amount to between 80 and 90 million in total.
Vallourec Repeats 2014 Warning as Q2 Profits Rise
Steel pipes maker Vallourec turned in a second quarter net profit rise of 41.9 percent to 88 million euros ($117.67 million) on Wednesday and repeated its recent warning that challenges in Brazil will eat into its second half performance. The French group said on June 10 that core profit would drop 10 percent this year as customers - mainly Brazilian state oil company Petrobras - run down inventories to save money. Petrobras alone will account for some 60 million euros ($82 million) of the slide in earnings before interest…
US Steel Producers Win Anti-dumping Case
The United States has approved anti-dumping duties against South Korea and other producers of steel pipes for the energy sector, a victory for domestic producers hoping to benefit from a boom in the U.S. shale oil and gas industry. U.S. steel companies lodged a complaint in 2013 as foreign manufacturers cashed in on soaring U.S. energy infrastructure demand. Imports doubled last year and accounted for nearly two-thirds of the domestic market, according to the American Iron and Steel Institute. Although subject to appeal, the decision puts the U.S.
New Pipelines to Boost Kashagan Project Costs
Kashagan, the world's most expensive oil project, will have to spend another up to $3.6 billion to replace leaking oil and gas pipelines, which also could delay the restart of production, the Kazakh energy ministry said. Production at the Kashagan reservoir, the world's biggest oil find in recent times, started in September last year but was halted just a few weeks later after the discovery of gas leaks in the $50 billion project's pipeline network.
China Inc Joins the Big League in Oil and Gas Services
Global oil companies are increasingly turning to China for services and equipment, attracted by lower costs and a newly acquired expertise that is challenging more established rivals. State-run and privately controlled Chinese rig makers, oil and gas services and engineering firms are showing up in the supply chain everywhere from the Middle East, the North Sea and North America to frontier areas like Mozambique. Chinese yards, having come from nowhere in less than a decade…
