UrBC, Yekaterinburg, July 28, 2016. Pipe Metallurgical Company (TMK) delivered 890,000,000 kg of steel pipes to customers in the second quarter of the year, which was 5.3% more than in the first quarter, the company report states.

‘This rise was brought about by the increased demand for pipes in the oil and gas industry after the oil price surge. Given our growing sales on the one hand and the ongoing efforts to cut costs on the other, TMK’s financial performance is likely to look much better in the second quarter,’ the company press service reports.

For one, weedless pipe shipments went up by 4% in the second quarter against the first one and reached 587,000,000 kg. Also, welded pipe shipments went up by 7.9% and reached 304,000,000 kg.

OCTG shipments rose by 6.8% in April-June 2016 against January-March and came to 333,000,000 kg. This increase had to do with the domestic boring market’s expansion and the oil and gas companies’ gradually resuming activity in the U.S.

TMK also delivered 112,000 premium threaded joints to customers in the second quarter of the year, which is 7.4% more than in the first quarter.