Research

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

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August 2019 | Seamless Steel Tube & Pipe


ADNOC awards mega OCTG tender


ADNOC has awarded its MEGA 5-year OCTG tender to Tenaris (via Consolidated Suppliers Establishment), Vallourec (via Abu Dhabi Oilfield Services Company) and Marubeni Itochu (via Habshan Trading Company).

ADNOC has awarded its MEGA 5-year OCTG tender to Tenaris (via Consolidated Suppliers Establishment), Vallourec (via Abu Dhabi Oilfield Services Company) and Marubeni Itochu (via Habshan Trading Company). The contract is valued at $3.6bn for 1Mt of OCTG delivered over the 5-year period. This equates to an average price of $3,600/tonne for the OCTG casing and tubing ordered. Fastmarkets MB research has a current Middle East price...

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