Abstract: Analyzed in the paper on the general background of the big falling of global oil price，are the production and operation situations of the two world big steel tube groups，Tenaris and Vallourec in 2015，involving such major aspects as sales volume，profitability，market distribution，assets and liabilities and debt-paying ability，etc.Also briefed here are the renewed major strategic initiatives.The analysis shows that in 2015，the profit achievements of the two groups had obviously declined，having their markets as the most depressed in North America.As for their market prospects in 2016，the two big groups are not so optimistic.And it is also expected that the two groups’operations will be under tremendous pressure.