Latest news with #VALLOUREC
Yahoo
3 days ago
- Business
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VALLOUREC OBTAINS THE QUALIFICATION OF ITS HYDROGEN STORAGE SOLUTION AND LAUNCHES COMMERCIALIZATION
Press Release VALLOUREC OBTAINS THE QUALIFICATION OF ITS HYDROGEN STORAGE SOLUTION AND LAUNCHES COMMERCIALIZATION Meudon (France), June 5, 2025 – Vallourec, a world leader in premium seamless tubular solutions, announces the official qualification of Delphy, its vertical gaseous hydrogen storage solution, by DNV. A world first, Delphy enables the storage of 1 to 100 tons of hydrogen under maximum safety conditions. Thanks to its minimal footprint, this vertical system - extending up to 100 meters underground - meets the challenge of complex and demanding industrial environments. It targets both green hydrogen producers and industrial players such as synthetic fuel producers (e-SAF, e-methanol), green ammonia producers, steelmakers, and refineries. The Delphy solution is the result of Vallourec's longstanding expertise and know-how and is based on proven technologies - tubes and connections - that have demonstrated excellent tightness and corrosion resistance. Launched in 2022, the project has involved around thirty researchers and experts, particularly in the areas of high-precision threading, heat treatment, and non-destructive testing. Since the inauguration of its demonstrator in December 2023, Vallourec has followed a rigorous process of development, testing, and validation of its hydrogen storage technology, culminating today in the qualification of Delphy. This qualification by recognized experts guarantees the solution's safety and reliability and marks a key milestone towards its commercialization. Vallourec has already signed two Memorandums of Understanding (MoUs): one with H2V, for green hydrogen production and utilization projects, and one with NextChem Tech, for green hydrogen and green ammonia projects. Around fifty projects - in France and internationally - are currently under discussion, representing potential revenue of approximately €2 billion. This qualification comes at a time when demand for storage infrastructure is expected to grow, to adapt to the intermittent and flexible nature of green hydrogen production. Demand for the Delphy storage solution will be fuelled by European regulations, which require storage solutions to pair with renewable electricity production, and by the French hydrogen strategy, which encourages green hydrogen producers to operate flexibly to contribute to power grid stability. Philippe Guillemot, Chairman of the Board of Directors and CEO of the Vallourec Group, commented: "The qualification of Delphy illustrates Vallourec's ability to leverage its industrial and technological expertise for new energy solutions. Thanks to the excellence of our teams, we are able to offer this unique solution that meets the challenges of developing the global hydrogen sector. This key milestone reinforces our position in the hydrogen market and our leadership in supporting global decarbonization efforts." Santiago Blanco, Executive Vice President & Director for Southern Europe, Energy Systems at DNV commented "DNV is proud to validate Vallourec's Delphy hydrogen storage solution—a milestone in safe, scalable hydrogen infrastructure. With our Energy Transition Outlook model projecting a need for 188 million tons of hydrogen annually by 2050, flexible storage like Delphy is critical to bridge renewable supply and industrial demand. As hydrogen unlocks decarbonization for hard-to-electrify sectors, independent technical assurance will be key to accelerating deployment and building market confidence." About Vallourec Vallourec is a world leader in premium seamless tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting edge R&D open new technological frontiers. With close to 13,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible. Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1. About DNV DNV is the independent expert in risk management and assurance, operating in more than 100 countries. Through its broad experience and deep expertise DNV advances safety and sustainable performance, sets industry benchmarks, and inspires and invents solutions. Whether assessing a new ship design, optimizing the performance of a wind farm, analyzing sensor data from a gas pipeline, or certifying a food company's supply chain, DNV enables its customers and their stakeholders to make critical decisions with confidence. Driven by its purpose, to safeguard life, property, and the environment, DNV helps tackle the challenges and global transformations facing its customers and the world today and is a trusted voice for many of the world's most successful and forward-thinking companies. Learn more at For further information, please contact: Investor relations:Connor LynaghTel : +1 (713) Individual shareholders:Toll Free number (From France): 0 805 65 10 10actionnaires@ Press relations: Taddeo Romain GrièreTel : +33 (0)7 86 53 17 29 Nicolas EscoulanTel : +33 (0)6 42 19 14 74 Attachment Vallourec_Press Release_Delphy Qualification
Yahoo
22-05-2025
- Business
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The Vallourec General Shareholders' Meeting of 22 May 2025 Voted in Favor of All the Resolutions and Approved the First Dividend in a Decade
Press release THE VALLOUREC GENERAL SHAREHOLDERS' MEETING OF 22 MAY 2025 VOTED IN FAVOR OF ALL THE RESOLUTIONSAND APPROVED THE FIRST DIVIDEND IN A DECADE Meudon (France), May 22, 2025 – Vallourec, a world leader in premium seamless tubular solutions, announces that the Combined General Meeting of Shareholders, held today, chaired by Mr Philippe Guillemot with a quorum of 74.75 %, adopted all the resolutions put to the vote. The General Meeting of Shareholders approved the parent company and consolidated financial statements for the 2024 fiscal year and the payment of a dividend of 1.50€ per share in respect of 2024. The ex-dividend date will be May 26, 2025 and the dividend will be paid on May 28, 2025. In accordance with the by-laws and the applicable free shares plan, the thresholds for the assessment of the performance condition for the vesting of the Tranche 3 and Tranche 4 preferred shares will automatically adjusted of the amount of the dividend, on a euro for euro basis1. Moreover, pursuant to the provisions of section 4.2.8.4. of the note d'opération (AMF visa n°21-093 of March 31, 2021), the exercise ratio (Parité d'Exercice) of the warrants (ISIN Code: FR00140030K7) will also be adjusted. The modalities of such adjustment will be communicated in the coming days. The General Meeting of Shareholders ratified the co-optation of Mr Keith James Howell as Director and renewed his term for four (4) years, i.e. until the end of the Ordinary Shareholders' Meeting called to approve the financial statements for the fiscal year ending December 31, 2028. The General Meeting of Shareholders approved the compensation and benefits paid during or awarded for the year ended 31 December 2024 to the Company's directors and officers and the compensation policy applicable to the directors and officers for 2025. Also, the General Meeting of Shareholders approved the amendment of the Articles of Association to reflect the provisions of the Law n° 2024-537 of June 13, 2024 aimed at increasing the financing of businesses and the attractiveness of France and to specify the powers of the Lead Independent Director. A webcast of the General Shareholders' Meeting of 22 May 2025 and the voting results for each resolution are available on Vallourec's website: About Vallourec Vallourec is a world leader in premium seamless tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting edge R&D open new technological frontiers. With close to 13,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible. Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service. In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1. For further information, please contact: Investor relations:Connor LynaghTel: +1 (713) Individual shareholders:Toll Free number (From France): 0 805 65 10 10actionnaires@ Press relations: TaddeoRomain GrièreTel: +33 (0)7 86 53 17 Nicolas EscoulanTel: +33 (0)6 42 19 14 1 It is reminded that the performance condition of the Tranche 2 preferred shares was already met. For the purposes of the assessment of the performance conditions of the Tranche 3 and Tranche 4 preferred shares, the thresholds will be set respectively at €18.72 and €26.82 respectively (corresponding to the €20.22 and €28.32 thresholds before dividend distribution). Attachment Vallourec_Press Release_Annual General Meeting 2025Sign in to access your portfolio
Yahoo
28-04-2025
- Business
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Vallourec Awarded a Major Contract by Kuwait Oil Company
VALLOUREC Press release VALLOUREC AWARDED A MAJOR CONTRACT BY KUWAIT OIL COMPANY Meudon (France), April 28, 2025 – Vallourec, a world leader in premium seamless tubular solutions, has secured a major contract to supply Oil Country Tubular Goods (OCTG) for the drilling operations of Kuwait Oil Company (KOC). This new contract represents over $130 million in potential revenue. This agreement includes the supply of carbon steel OCTG products with premium connections and proprietary steel grades, to be delivered in 2025 and 2026. Vallourec has been selected to supply the most technically advanced part of the tender in terms of grades and connections, including some of its high-torque flush premium connections. Vallourec has a historical presence in Kuwait and has been a reliable supplier to KOC, developing specific products for both its offshore and onshore projects. This contract comes in the context of Kuwait's current plan to increase its oil production to 4 million barrels per day in 2035 and follows KOC's issuance of a tender in September 2024 for deep drilling applications. Philippe Guillemot, Group's Chairman and CEO declared: 'Vallourec is a strong partner of KOC, and this new order demonstrates our competitiveness and ability to reliably manufacture and deliver significant quantities of premium tubes and connections. We are eager to support KOC's upcoming needs and challenging new projects with our most technically-advanced products.' About Vallourec Vallourec is a world leader in premium seamless tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting edge R&D open new technological frontiers. With close to 13,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible. Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service. In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1. For further information, please contact: Investor relations: Connor Lynagh Tel: +1 (713) 409-7842
Yahoo
22-04-2025
- Business
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Vallourec Wins a New Major Line Pipe Contract for Brazil's Buzios Offshore Field
Press release VALLOUREC WINS A NEW MAJOR LINE PIPE CONTRACT FOR BRAZIL'S BUZIOS OFFSHORE FIELD Meudon (France), April 22, 2025 – Vallourec, a world leader in premium seamless tubular solutions, announces today that it has secured a major contract with Allseas to supply line pipes for Búzios 10 offshore project located at the Búzios field, operated by Petrobras. This contract represents nearly 18,000 tons of subsea seamless premium carbon steel line pipes, for the risers and flowlines. The contract includes an optional scope of almost 5,000 tons. Located off the coast of Rio de Janeiro, Búzios is one of the world's largest deepwater fields. This field represents a significant part of the Brazilian oil company's operations. The field's production is expected to substantially increase as five additional units are set to commence operations by 2028. The contract also includes Vallourec's Pipe Navigator solution, a centralized digital portal that offers instant access to up-to-date contractual documentation, data and analysis covering every aspect of its line pipe projects. The entire production will be carried out at our cutting-edge facility in Jeceaba (Minas Gerais, Brazil) to ensure high local content and a reduced carbon footprint. Philippe Guillemot, Group's Chairman and CEO declared: 'This contract reinforces our strategic positioning in Brazil, one of our key markets for complex offshore projects. It also serves as legacy to our ability to deliver premium tubular solutions, fully manufactured in Brazil. This contract also validates the investment strategy implemented over the past three years to enhance our industrial performance and meet the most demanding requirements of our customers.' About Vallourec Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting-edge R&D open new technological frontiers. With close to 13,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible. Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service. In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1. For further information, please contact: Investor relations:Connor LynaghTel: +1 (713) Individual shareholders:Toll Free number (From France): 0 805 65 10 10actionnaires@ Press relations: TaddeoRomain GrièreTel: +33 (0)7 86 53 17 Nicolas EscoulanTel: +33 (0)6 42 19 14 Attachment Vallourec_Press Release_Buzios
Yahoo
31-01-2025
- Business
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VALLOUREC JOINS THE HYDROGEN COUNCIL
VALLOUREC JOINS THE HYDROGEN COUNCIL Meudon (France), January 31st, 2025 – Vallourec, a world leader in premium seamless tubular solutions, is pleased to announce its appointment as a new Supporting Member of the Hydrogen Council. This appointment represents a significant step for Vallourec as it strengthens its commitment to providing sustainable solutions and supporting the decarbonization of industrial sectors. The Hydrogen Council is a global CEO-led initiative that brings together leading companies with a united vision and long-term ambition for hydrogen to foster the clean energy transition. With a membership of 140 key players based in more than 20 countries, the Council fosters collaboration between governments, industry and investors to promote the development of hydrogen as a clean energy source. Vallourec has a key role to play in the development and structuring of the hydrogen industry. The Group brings its expertise and portfolio of solutions for hydrogen transportation and storage in various environments, including salt caverns. In addition, Delphy, Vallourec's innovative vertical hydrogen storage solution, provides safe, efficient, and scalable storage from 1 to 100 tonnes of hydrogen for various applications, including industry and mobility. As a groundbreaking storage solution that does not currently exist on the market, Delphy will accelerate the development of the hydrogen sector and industrial decarbonization. By becoming a Supporting Member, Vallourec joins companies such as Alstom, Fuel Cell Energy, Chevron, Technip Energy, Petronas, and Bureau Veritas that are committed to reducing CO2 emissions from energy-intensive industries. This new role will enable Vallourec to actively contribute to shaping global strategic priorities for hydrogen and support initiatives that accelerate the deployment of hydrogen solutions around the world. Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer of Vallourec commented: "Close collaboration among all industry players will be critical to turn the ambition of a competitive hydrogen market into a sustainable reality. Large-scale hydrogen storage has been a crucial challenge in developing green hydrogen infrastructure. Vallourec is determined to use its expertise to help build a cutting-edge hydrogen industry." About Vallourec Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting-edge R&D open new technological frontiers. With close to 14,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible. Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service. In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1. For further information, please contact: Investor relations:Connor LynaghTel: +1 (713) Individual shareholders:Toll Free number (From France): 0 805 65 10 10actionnaires@ Press relations: TaddeoRomain GrièreTel: +33 (0)7 86 53 17 Nicolas EscoulanTel: +33 (0)6 42 19 14 Attachment Vallourec_Press Release_Vallourec joins the Hydrogen CouncilSign in to access your portfolio
