International Steel Mills
February 25, 2020
Tenaris Expects Weaker Global OCTG Demand in 2020
Written by Sandy Williams
International OCTG producer Tenaris had net sales of $7.3 billion in 2019, a 5 percent decrease from 2018 that reflected lower drilling activity in Canada and the U.S. and lower sales in the Middle East and Africa. Net income fell 16 percent to $731 million.
Fourth-quarter North American tubular sales increased 1 percent to $779 million compared to the third quarter, but fell 19 percent year-over-year. The quarterly gain was primarily due to seasonally higher sales in Canada.
