MRC turns focus away from OCTG, records loss

Feb 25, 2013 | 12:52 PM | Thorsten Schier

Tags  MRC Global, earnings report, Andrew Lane, OCTG, line pipe, Thorsten Schier

NEW YORK — MRC Global Inc. is moving away from the oil country tubular goods (OCTG) sector, seeing little upside for the market.

"I’m not a very big optimist about the future pricing environment in OCTG. You have relatively flat rig demand, you have a lot of imports still coming to the market, and you have domestic supply coming onstream," chairman, president and chief executive officer Andrew Lane said during the company’s fourth-quarter earnings conference....

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