ExxonMobil names Tenaris its 2024 Supplier of the Year
Rhea-AI Summary
Tenaris has been named ExxonMobil's 2024 Supplier of the Year, recognizing their exceptional performance, competitiveness, and adherence to high standards. ExxonMobil's Vice President of Procurement highlighted Tenaris's superior global performance, particularly in Guyana and the Permian region.
As a long-term supplier, Tenaris provides OCTG solutions and services to ExxonMobil's US upstream operations through their Rig Direct® mill-to-well model. The company also supports ExxonMobil's worldwide drilling projects, including offshore and deepwater exploration. The award considered various attributes including competitiveness, service quality, delivery commitments, sustainability, and safety performance.
Tenaris, with revenues of US $14.9 billion in 2023 and approximately 29,000 employees globally, operates an integrated network of steel pipe manufacturing facilities across multiple continents.
Positive
- Recognition as ExxonMobil's 2024 Supplier of the Year validates operational excellence
- Strong presence in strategic markets (Guyana and Permian region)
- Substantial annual revenue of US $14.9 billion in 2023
- Global operational footprint with 29,000 employees
Negative
- None.
News Market Reaction – TS
In the trading session that priced this news, TS declined 1.43%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HOUSTON, Dec. 16, 2024 (GLOBE NEWSWIRE) -- ExxonMobil has named Tenaris its 2024 Supplier of the Year, recognizing the company’s performance, competitiveness and high standards as consistent with ExxonMobil’s values and expectations.
“Over the past year, Tenaris has consistently demonstrated superior performance globally across ExxonMobil including Guyana and Permian region, and effectively met our business needs with high standards,” said ExxonMobil Vice President of Procurement, Rebecca Vest, in the letter informing Tenaris of the award. “Your company has continued to demonstrate a strong commitment towards delivering valuable outcomes across ExxonMobil.”
“We aim to be the supplier of choice, and this distinction reaffirms our commitment to serve beyond products and services, but in precisely executing all the pieces in between to build strong, trusted business relationships,” said Paolo Rocca, Tenaris Chairman and CEO. “I applaud the dedication of our team to engineer solutions and develop services that add value and deliver on the shared goals for high standards in safety, quality, reliability and overall performance.”
Tenaris is a long-term supplier to ExxonMobil, currently serving its US upstream operations with OCTG solutions and services including Tenaris’s Rig Direct® mill-to-well model. Tenaris also supports ExxonMobil in drilling projects around the world, onshore and offshore, and in deepwater exploration.
ExxonMobil considers various attributes for the award, such as competitiveness, service quality, delivery commitments, sustainability, and performance across safety, security, health and environment.
For more information about Tenaris, please follow us on Facebook, X, LinkedIn, and Instagram.
Tenaris is a leading global manufacturer and supplier of steel pipe products and related services for the world’s energy industry and other industrial applications. Our customers include most of the world’s leading oil and gas companies and our revenues amounted to US
Media contact:
Stefania Argento
Tenaris Media Relations Director
ph. +39 02 99250926
mobile +39 335 5476223
e-mail: sargento@tenaris.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8abc3226-cc66-44c6-a31e-997ffc7fcbf3
