Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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September 2016 | Seamless Steel Tube & Pipe


North Sea OCTG prices still struggle to recover: Europe and CIS Analysis


The UK has suffered sharply from the current down-turn in the oil markets.

Prices for L80 casing with a premium connection remain at around $1,400/tonne this month in the North Sea markets. While mills aim to increase prices, the level of stocks at distributors, who have bought OCTG back from the operators, along with stock material that OCTG mills themselves need to re-sell remains too high to allow prices to increase.

BP drilling activity picking-up in the UK...

The UK has suffered sharply from the current down-turn in the oil markets. Major drilling operations that are being undertaken now are to the West of the Shetland Islands. This is one of the most hostile environments in the world for drilling, and needs very large rigs/FPSOs to withstand these environments. BP is a lead operator here drilling in fields such as Schiehallion. MBR understands that BP has been picking up its drilling activity in recent months, which could lead to a rising...

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