17
Aug
15:04
Saudi Steel Pipe bags $34m Aramco order
Saudi Steel Pipe (SSP) has won a huge SAR 127 million ($33.9m) order to supply well casing pipe to oil giant Saudi Aramco. Production will take place during the first half of next year, Kallanish learns from the welded pipemaker.
SSP reported a -75% on-year plunge in net profit in the second quarter to SAR 5.89m (see Kallanish 28 July). This was due to a decrease in project-related sales, higher losses at subsidiaries, and loss incurred on inventory revaluation …
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Very good overview of the weekly steel market.
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