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Pipe and tube
Overview
OCTG (oil country tubular goods) and Line Pipe pricing sits at the intersection of two complex markets – demand from the oil and gas industry and supply from steel markets.
Argus monitors and delivers key OCTG and line pipe price data while analysing supply and demand markets to produce detailed market reports and outlooks on pipe prices and market drivers.
Latest pipe and tube news
Browse the latest market moving news on the global pipe and tube industry.
Texas oil, gas drilling permits slide by 33pc in March
Texas oil, gas drilling permits slide by 33pc in March
Calgary, 8 April (Argus) — Texas drilling permits for oil and natural gas fell in March by 33pc from a year earlier on declines across all major producing regions. There were 669 permits issued in March for drilling oil, drilling gas, or drilling for both oil and gas across the state, according to the Texas Railroad Commission (RRC), down from 999 in the same month last year. Permits ticked higher from the 659 recorded in February. The year-on-year drop was led by the Midland region, or District 8 , where permits fell in March to 328, down by 133 permits from a year earlier, and lower by five compared to February. Also down from a year earlier were permits issued in the San Angelo region, or District 7C, to the immediate southeast of Midland. The regulator issued 60 permits there in March, lower by 39 from March 2023 but up from 42 permits in February. The westernmost San Antonio region, or District 1, saw permits slide to 79 in March from 166 a year earlier. This was also down from 95 in February. WTI crude prices at Cushing, Oklahoma, averaged $80.41/bl in March, higher by $7.03 from the same month last year, while average spot natural gas prices at Henry Hub fell by 55pc in the same period to $2.30/mmBtu. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Oil sands producers plan CCS network, hub
Oil sands producers plan CCS network, hub
Calgary, 25 March (Argus) — A group of Canadian oil sands companies are planning to build a massive C$16.5bn ($12.2bn) carbon capture and storage (CCS) project to decarbonize operations. Canadian Natural Resources (CNRL), on behalf of the Pathways Alliance consortium, filed plans for the project with the Alberta Energy Regulator (AER) last week to store 10mn-12mn t/yr of carbon dioxide (CO2) equivalent in the oil sands region of northeast Alberta. The Pathways Alliance also includes Cenovus, Suncor, Imperial Oil, ConocoPhillips Canada and MEG Energy, which account for about 95pc of the province's roughly 3.3mn b/d of oil sands production. Construction of the project is expected to begin as early as the fourth quarter 2025 with operations starting in 2029 or 2030. The main CO2 transportation pipeline will be 24-36-inches in diameter and stretch about 400km (249 miles). It will initially tap into 13 oil sands facilities from north of Fort McMurray to the Cold Lake region, where the CO2 will be stored underground. "When you have that concentration of emission sources, technologies like carbon capture and storage become very, very technically viable," Pathways Alliance president Kendall Dilling told the CERAWeek by S&P Global conference in Houston, Texas, earlier this month. Oil sands crude producers have been criticized for being particularly carbon intensive. The Pathways Alliance is their answer to driving operations to net zero by 2050. The CCS project and "a host of other technologies" represent Phase 1 of the Pathways Alliance's efforts and will reduce oil sands emissions by about 25pc by 2030, according to Dilling. The CCS project itself accounts for about half of this reduction. Phase 2 is planned for between 2031 to 2040 and would tie in at least another eight oil sands projects, while also ramping up alternative energy initiatives related to hydrogen, electrification and small modular nuclear reactors. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
US OCTG imports fell in 2023, line pipe up slightly
US OCTG imports fell in 2023, line pipe up slightly
Houston, 14 February (Argus) — US imports of oil country tubular goods (OCTG) fell in 2023 while line pipe imports rose slightly. OCTG imports fell by 8.2pc year-over-year but are still at the second-highest level in at least the last four years, according to data from the US Department of Commerce. Taiwan led the overall OCTG volume declines, down by 85,500t year over year, followed by a 70,800t drop from Mexico. Imports from Thailand more than doubled, increasing by 95,400t, while Canadian imports rose by 83,100t. Line pipe imports edged up by 0.3pc or more than 3,000 metric tonnes (t) from their 2022 levels and are up by 47pc compared with 2021 volumes. Turkey boosted its line pipe volumes into the US by 23,300t, nearly tripling its prior-year total, while Brazil more than doubled its volumes, increasing them by 22,400t. Structural pipe imports increased by 2.2pc in 2023 to 425,600t, a 9,300t increase. Mechanical pipe imports fell by 2.6pc to 613,400t, a 16,300t decline. By Rye Druzin US pipe and tube imports metric tonnes Product 2023 2022 Difference ±% OCTG 2,215,080 2,412,983 -197,903 -8.2% Line pipe 1,027,734 1,024,371 3,363 0.3% Standard 756,060 827,491 -71,431 -8.6% Heavy Structural Shapes 686,668 723,676 -37,008 -5.1% US Department of Commerce Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
DNOW to buy Whitco Supply
DNOW to buy Whitco Supply
Houston, 6 February (Argus) — Texas-based tubular distributor DNOW has agreed to buy midstream supplier Whitco Supply. DNOW agreed to purchase Louisiana-based Whitco in an all-cash transaction, the terms of which were not disclosed, DNOW said on Tuesday. Whitco has eight locations and sells B7 studs, flanges, forged steel, gaskets, pipe, structural steel and weld fittings. DNOW chief executive David Cherechinsky said the acquisition is part of the company's move to diversify its end-markets. No timeline was given for the conclusion of the deal. For now, the companies will remain independent and operate separately, DNOW said. By Rye Druzin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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