38180
Russian Pipe Maker Bids to Supply Iranian Energy Industry
Economy, Business And Markets

Russian Pipe Maker Bids to Supply Iranian Energy Industry

Russia’s largest manufacturer of steel pipes for the energy sector is in talks with Iran to supply the country’s expanding oil and gas industry, the company has announced.
TMK wants more and bigger contracts, as Iran’s energy industry revives following the lifting of western sanctions, Russia Today reported.
“We have a program underway to supply some pipes through spot sales and are working on a longer-term contract which could include pipes to transport oil and gas as well as produce it,” said Vladimir Shmatovich, senior vice president for strategy and business development at TMK.
After decades of economic sanctions, Iran’s aging oil equipment need to get upgraded. The country needs $200 billion to restore and develop the energy sector after years of underinvestment, according to Tehran.
“If the infrastructure was old before sanctions, now it’s even older. They need everything—storage, tankers, refineries,” said Shmatovich.
With the world’s fourth largest proven crude oil reserves, Iran produces nearly 3 million barrels of crude per day and aims to boost production by 1 million barrels.
TMK was a major supplier of oil and gas pipes to Iran’s oil industry before sanctions were introduced. The company is one of the leading manufacturers of steel pipes for the oil and gas sector, operating at 30 production sites in Russia, the US, Canada, Romania, Oman, the UAE and Kazakhstan.
TMK’s clients include Shell, Total, ExxonMobil, AGIP, Saudi Aramco, Rosneft, Gazprom and Lukoil. It supplies products to more than 80 countries.

Short URL : http://goo.gl/JRJJ4r
  1. http://goo.gl/djXVzV
  • http://goo.gl/mJkMp8
  • http://goo.gl/dGBbDF
  • http://goo.gl/ONNdwA
  • http://goo.gl/shauEr

You can also read ...

Pretoria Hosts South Africa-Iran Business Forum (Photo: AfricaNewsAgency)
The South Africa-Iran Business Forum was held in Pretoria,...
485,000 New Jobs Averaged Annually Since 2013
An average of 485,000 jobs were created every year during...
Furniture Exports on Decline
Iran exported about $6 million worth of furniture during the...
About 1,837 million shares valued at $86.508 million changed hands at TSE on Oct. 23.
Tehran Stock Exchange’s main index lost 134.00 points or 0.15...
The health deal was signed in Iran’s Embassy in London on Oct. 23.
Iran’s Ministry of Health signed an investment and cooperation...
Renault Launches Used-Car Sales Scheme in Iran
Negin Khodro, the local official importer of Renault cars, has...
The fiscal 2014-15 was the worst year for the construction sector in recent memory, with growth rate reaching its nadir at -17%.
The research arm of the Iranian Parliament has forecast a...
Over 14.88 billion shares valued at $1.11 billion were traded at TSE over the past month.
Tehran Stock Exchange’s main index TEDPIX gained 648 points or...

Trending

Googleplus