January 13, 2017 / 8:36 AM / in 6 months

BRIEF-Russia's TMK says 2016 output down 11 pct y/y

1 Min Read

Jan 13 (Reuters) - Russian pipemaker TMK said on Friday:

* 2016 production totalled 3.4 million tonnes, down 11 percent year-on-year;

* Q4 production totalled 882,000 tonnes, up 7 percent compared to the previous quarter;

* The company expects an increase in shipments of its main target product segments in 2017;

* "With the anticipated rebalancing of the global oil market, TMK expects American oil and gas companies to invest more in exploration and production; thus, increasing drill count will drive the recovery of oil and gas pipe consumption." Further company coverage: (Reporting by Moscow newsroom)

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