Abstract: This paper analyzes the production and operation situation of Tenaris Group and Vallourec Group,two analyzed here in the paper are the production and operation situations of Tenaris Group and Vallourec Group,in 2024 and the first half of 2025 from such as sales volume,profitability,market distribution and market expectation, etc. It is concluded via the analysis that the profit levels of Tenaris Group and Vallourec Group in 2024 are still high,but the overall operating performance has significantly declined from the best historical level in 2023. The main reason is that the decline of the OCTG price as caused by the radically rise and decline of the global oil price has led to the decline of the demand by the North and South America Market,while the competition in the regional markets has become increasingly fierce. In the first half of 2025,the volume and the price of the North American market are significantly declined,and the overall situation in other international markets is not ideal either. The profit levels of the two groups have been significantly declined compared to the same period of 2024. The two groups are cautious about the growth of operating performance in the second half of 2025,and the North America market is still an important source of performance pressure,and the impact by the increased US tariffs can not be ignored. Nevertheless the opportunities of the international market still remain.