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 ...

How China Became Iran’s Coziest Trade Partner?
From bilateral trade to finance contracts and civil projects,...
The economy of the Islamic Republic of Iran has been tied to political and foreign affairs developments over the years.
This is the Financial Tribune’s last edition of the current...
Iranian Banking Sector Awaits Full JCPOA Benefits
Iran’s Deputy Foreign Minister Abbas Araqchi addressed various...
President Hassan Rouhani on Sunday spoke to reporters after the last Cabinet meeting of the current year.
President Hassan Rouhani on Sunday outlined his administration...
Iran has more than 37 billion tons of proven mineral reserves and 57 billion tons of potential reserves.
Iran exported more than 58.09 million tons of mineral products...
All-Out Growth in Interbank Market
The Central Bank of Iran has released its latest data on the...