The agreement was reached during the international exhibition Adipec 2022 in Abu Dhabi, where Centravis presented its products.
We are talking about Petroleum Development Oman (PDO), with which Centravis has been cooperating for a long time. However, after a series of shelling of the territory of Ukraine this autumn, the client from Oman suspended cooperation due to possible security risks.
During the meeting at the exhibition in Abu Dhabi, the representatives of Centravis managed to convince the partners from Petroleum Development Oman in the ability to fulfill the order qualitatively and on time.
“After successful negotiations, we received a new order for the production of almost 20 tons of GTP duplex steel grade pipes,” said Natalia Ryazantseva, Head of Marketing Department.
According to her, Centravis currently uses various forms of communication with customers to ensure a stable order book. In particular, weekly letters with information about production and security situation in the region and the country are published on the company’s website. Also, representatives of Centravis regularly travel to meet with customers, the company participates in international exhibitions. This autumn, Centravis had separate stands at the exhibitions in Maastricht World Stainless Steel and Adipec 2022 in Abu Dhabi.
“In times of war, each order is even more important than in peacetime. We managed to preserve the main backbone of customers and, accordingly, the production volume and team. This is the main achievement and we are doing everything to keep the economic front and help the country”, – said Natalia Ryazantseva.
Centravis is one of the ten largest manufacturers of seamless stainless pipes in the world. The company’s production volume at the end of 2021 amounted to 19.43 thousand tons.
From the first days of the full-scale war against Ukraine, the company joined the support of the rear and the front. 119 employees of the company joined the Armed Forces of Ukraine. Also, funds were allocated for the purchase of necessary materials and equipment for the forces of the security and defense sector – in accordance with the requests received by the company.
Generation distribution in power system of Ukraine in 2022
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Yield of main crop crops in 2021-2022 (million tons)
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Western European stock indices are mainly increasing during the trading on Wednesday.
Traders are assessing a fresh batch of statistics and waiting for a speech by Jerome Powell, head of the U.S. Federal Reserve (Fed).
Powell will speak at 8:30 p.m. Wednesday at the Hutchins Center on Fiscal and Monetary Policy, giving his views on the economy and labor market. The event also includes answers to questions from the audience. Traders will closely follow the Fed chief’s statements, hoping to get signals about the future trajectory of monetary policy.
In early November, the Fed raised the rate by 75 basis points (bps) for the fourth consecutive meeting, and now the rate is at its highest level since January 2008 – 3.75-4% per annum. The last U.S. central bank meeting this year is December 13-14, and the market is expecting a more modest 50 bps rate hike.
The Stoxx Europe 600 composite index of the region’s largest companies was up 0.36% to 438.85 points by 10:57 a.m.
Germany’s DAX stock index is up 0.45%, Britain’s FTSE 100 is up 0.35%, France’s CAC 40 is up 0.3% and Italy’s FTSE MIB is up 0.31%. Meanwhile, Spain’s IBEX 35 is down 0.05%.
France’s GDP volume rose 0.2% in the third quarter from the previous three months, final data from the national statistics institute Insee showed. The final data matched a preliminary estimate. Analysts on average had not expected a revision, according to a Trading Economics survey.
GDP growth slowed from a 0.5% rebound in the second quarter.
Consumer prices in France, harmonized with European Union standards, rose 7.1% year on year in November, preliminary data from the Insee National Statistics Office showed.
Prices also rose 7.1% in October, and analysts polled by Trading Economics expected inflation to remain at the same level.
Meanwhile, consumer spending in the country collapsed 2.8 percent in October compared with the previous month, according to data from the Insee National Statistics Office. Analysts polled by Bloomberg expected a more moderate decline of 1 percent. The consensus forecast of experts polled by Trading Economics envisioned a decline of 0.6%. The decrease in consumer spending was the maximum since April 2021.
The number of unemployed in Germany increased by 17 thousand in November, according to the Federal Employment Agency of Germany. The rise in the index was marked at the end of the sixth month in a row.
Experts interviewed by Bloomberg agency forecasted an average growth of 13.5 thousand. Respondents of Trading Economics expected an increase of 13 thousand.
Shares of software developer Samhaellsbyggnadsbolaget i Norden are among the leaders of growth among Stoxx 600 components, which rose in price by 6%.
Shares of Hennes & Mauritz AB (H&M) are up 0.4%. The Swedish clothing retailer said it will cut about 1,500 jobs as part of a previously announced cost-cutting plan. The company also expects to record restructuring costs of more than SEK800 million ($75.6 million) in the fourth quarter.
Mulberry Group PLC’s stock price is down 15.8%. The British luxury brand, which specializes in the production of exclusive bags and accessories made of leather, received pretax loss in the first half of the current fiscal year.
Shares of SAS AB rose by 0.45%. The Scandinavian airline increased its net loss in the fourth fiscal quarter amid the negative impact of rising fuel prices and exchange rate fluctuations.
Traders are waiting for the speech of the head of the U.S. Federal Reserve (Fed) Jerome Powell, which will be held on Wednesday evening, as well as assess statistical data from China and follow the news about the restrictions related to the spread of coronavirus infection in the country, and large-scale protests against them.
Chinese authorities the previous day announced plans to more actively vaccinate the elderly population against the coronavirus, shortening the time between vaccinations for those over 80 years old to three months.
The Shanghai Composite stock index was up 0.06% by 7:22 a.m. KSC and the Hang Seng of Hong Kong was up 0.8%.
China’s Purchasing Managers’ Index (PMI) for the manufacturing industry fell to 48 points in November from 49.2 points a month earlier, the fastest pace since April, data from China’s State Bureau of Statistics (SBS) showed.
Experts on average had expected it to drop to 49 points, Trading Economics noted.
The service sector PMI fell to 46.7 points in November, also the fastest pace since April. In October, its value was 48.7 points.
Growth leaders in Hong Kong are shares of automaker Geely Automobile Holdings Ltd. (+8.6%), telecom China Unicom Ltd. (+6.25%) and restaurant chain owner Haidilao International Holding Ltd. (+3.7%).
Japan’s Nikkei 225 stock index was losing 0.35% by 7:22 a.m. KSC.
Japan’s industrial output fell 2.6% in October compared to the previous month, preliminary statistical data showed. The decline in industrial production was recorded for the second month in a row. In September the index decreased by 1.7%.
Experts on average expected a decrease in industrial production in October by 1.5%, according to Trading Economics.
Leaders of the decline are securities of Tokyo Electric Power Co. Holdings Inc. (-3.3%), construction materials producer Sumitomo Osaka Cement Co. Ltd. (-3.3%) and game developer Konami Group Corp. (-2.9%).
South Korea’s KOSPI was up 1.1% by 7:24 a.m. KSC.
South Korean industrial production fell 3.5% month-over-month in October. The rate of decline was the fastest since May 2020. In September, the figure was down 1.9%. Experts had forecast a 1% decline in industrial production in October.
Retail sales in the country fell 0.2% in October relative to the previous month after falling 1.9% in September.
Shares of the world’s biggest chip and consumer electronics maker Samsung Electronics Co. rose 1.5% and automaker Hyundai Motor Co. rose 0.3%.
Australia’s S&P/ASX 200 index added 0.4% on Wednesday.
Australia’s consumer price index (CPI) rose 6.9% year on year in October, official data showed. The rate of growth slowed from a 7.3 percent rise in September, which was the highest since at least September 2018, Trading Economics wrote.
Experts on average had predicted a 7.4% rise in the index.
Share prices of the world’s largest mining companies BHP and Rio Tinto rose by 1.6% and 1.7%, respectively.
The European Union will send 40 generators to Ukraine as part of its support in addition to the already supplied 550, European Union diplomatic chief Josep Borrel said.
“Russia is trying to break Ukraine’s fighting spirit by striking at its energy infrastructure and using winter as a weapon of war against civilians. At the G7 meeting, we are coordinating our support; the EU is sending 40 generators in addition to the 550 already provided through the European Civil Protection and Humanitarian Aid Operations mechanism,” Borrel wrote on Twitter Wednesday.
As reported, the European Commission reported that 200 medium transformers and a large autotransformer from Lithuania, a medium autotransformer from Latvia and 40 heavy generators from the EC reserve located in Romania (rescEU) were prepared to be sent to Ukraine through the EU Emergency Response Coordination Center. According to the report, each of the generators can provide uninterrupted power to a small or medium-sized hospital.
The EC is also additionally working on a new rescEU energy hub in Poland to provide assistance from third parties and facilitate its coordinated delivery to Ukraine, including with G7 partners.
