SAW and seamless Pipes
Growing oil and gas demand across the world and the zeal with which oil
companies are investing on adding pipeline infrastructure promise higher
revenues for Indian steel pipes makers. Indian pipe manufacturers are well-
positioned to capitalize on the booming demand of pipes with a US$118
billion global opportunity likely to unfold over the next five years. Rising
crude prices and the depletion of global crude reserves has lead to massive
investments in creating oil & gas transportation infrastructure. This has
stimulated a huge demand for submerged arc welded (SAW) pipes and
seamless pipes, which are used in oil & gas exploration. The participation
of Indian manufacturers is already visible form their expanding order book.
We believe tight supply situation for FY08 and FY09E is expected to keep
realizations firm.
