(BOE Report) – Oilfield service providers will face modest hits to earnings from U.S. President Donald Trump’s decision to impose tariffs on steel imports, Liberty Energy Chief Executive Ron Gusek said on Thursday. Trump imposed 25% tariffs on steel and aluminum on March 12, and more could be coming April 2. A Dallas Federal Reserve survey on Wednesday showed executives
(BOE Report) – U.S. President Donald Trump’s increased tariffs on steel and aluminum imports took effect on Wednesday as prior exemptions, duty free quotas and product exclusions expired, as his campaign to reorder global trade norms in favor of the U.S. stepped up. Trump’s action to bulk up protections for American steel and aluminum producers restores effective global tariffs of
From Reuters Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs. The United States imposed tariffs on imported steel and aluminum last year to shield U.S. producers from overseas competition. U.S. energy industry trade groups have warned the
From Reuters Major U.S. energy companies including Plains All American Pipeline (PAA.N), Hess Corp (HES.N) and Kinder Morgan Inc (KMI.N) are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China, Canada and Mexico. There have been nearly 21,000 requests overall for exclusions submitted to the U.S. Commerce Department since the
Jack Gerard, president and chief executive officer of the American Petroleum Institute, issued a statement on behalf of its oil and gas industry members speaking against the decision by the White House to activate steel tariffs on Canada, Mexico and the EU. The tariffs became effective at midnight June 1, 2018. “We are deeply discouraged by the administration’s actions to
Service companies first, then producers From the Houston Chronicle The Trump Administration’s steel tariffs will increase costs in the West Texas oil patch at a time when drillers and service firms already faced rising labor and materials costs, investors say. Labor shortages in the Permian Basin and a lack of available working equipment have led to delays and higher prices
Steel, aluminum tariffs take effect March 23 When Shell (ticker: RDS.A) released its 2018 LNG Outlook in late February, the global oil and gas major said that surging global LNG demand could lead to possible shortages in the Mid-2020s. Shell said based on current demand projections, it sees a potential for a supply shortage developing in mid-2020s, unless new LNG production
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
