Tariff | GUPC

Tariffs and Turmoil Undermine Trump’s Oil and Gas Promises

Oil & Gas‚ Oil and Gas Industry | intent | June 2, 2025 | Comment off

When U.S. President Donald Trump came into office in January, he promised to back greater oil and gas production, doubling down on his “drill, baby, drill” catch phrase. He rapidly introduced executive orders aimed at encouraging new oil and gas exploration across the country while reining in the renewable energy industry. However, since these early promises, Trump appears to be increasingly alienating the oil and gas industry as companies battle low oil prices, the uncertainty of a trade war, and several other challenges.

Japan Touts Ships Expertise, LNG Project as Tariff Talks Key

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

Japan will tout its prowess in building ice-breakers, a growing area of need as security concerns in the Arctic region mount, while also offering to help repair US battleships that patrol the Asia-Pacific, Prime Minister Shigeru Ishiba said Sunday, as his hand-picked trade negotiator Ryosei Akazawa returned to Tokyo following a third-round of discussions with US counterparts in Washington.

Tariffs Can’t Stop the U.S. LNG Boom

Oil & Gas‚ Oil and Gas Industry | intent | May 20, 2025 | Comment off

Developers of U.S. LNG export projects have started taking final investment decisions on new facilities this year, with several plans expected to add in 2025 to Woodside’s Louisiana LNG approval, despite rising construction costs due to President Trump’s steel and aluminum tariffs.

EU Warns of Major Tariffs if U.S. Trade Negotiations Falter

Oil & Gas‚ Oil and Gas Industry‚ Uncategorized | intent | May 8, 2025 | Comment off

The European Union is preparing to impose up to €100 billion ($113 billion) in tariffs on US goods if trade talks fail, according to a new report by Bloomberg this morning.

The draft list of retaliatory measures will be circulated to member states as early as Wednesday, with a one-month consultation period before finalization.

Saudi Signals and Trump Tariffs Are Cracking the Oil Market

Oil & Gas‚ Oil and Gas Industry | intent | May 2, 2025 | Comment off

Low inventories reported today by the Energy Information Administration (EIA) did nothing to staunch the bleeding, with WTI getting gutted nearly 4% on the day, and Saudi rumors throwing another spanner in the works, while new U.S. economic data suggests more pain is in store for the sector.

Oil Prices Tick Higher Despite Tariff Talks Confusion

Oil & Gas‚ Oil and Gas Industry | intent | April 28, 2025 | Comment off

The Trump administration appears not to be in a rush to close any trade deals with those eager for them. Reuters reported that no deals at all were signed during last week’s IMF-World Bank Spring Meetings, which saw world leaders gather in one place to discuss trade. This suggests extended tariff uncertainty, which means extended oil price uncertainty.

Crude Caught in Crossfire of OPEC+ Discord and Tariff Shocks

Oil & Gas‚ Oil and Gas Industry | intent | April 24, 2025 | Comment off

The U.S. stock markets enjoyed a broad rally on Wednesday, with the S&P 500 jumping nearly 2% a day after U.S. President Donald Trump announced that China tariffs will come down substantially, with another potential boost coming from a Wednesday Reuters report citing unnamed sources as saying talks to lead to significant tariff reductions.

Halliburton announces tariff impact on drilling, frac operations

Oil & Gas‚ Oil and Gas Industry | intent | April 23, 2025 | Comment off

Halliburton Co., the world’s largest provider of hydraulic fracturing services, fell sharply after warning investors that tariffs will impact a wide swath of the company’s business units.

The dominant North American oil field services provider told investors Tuesday on a conference call that tariffs will have an impact of 2 to 3 cents per share during the second quarter, with 60% of the hit affecting its completions-and-production unit, which houses the fracing business. The rest of the tariffs impact will be to its drilling and evaluation segment.

Trump Tariffs Reshape MENA Oilfield Services

Oil & Gas‚ Oil and Gas Industry | intent | April 22, 2025 | Comment off

The Trump administration’s tariff regime, intended to boost US manufacturing and inflict punitive damage on Chinese manufacturing, has disrupted multiple industrial supply chains into the US with cascading effects across other regions. For the Middle East and North Africa (MENA) region’s oilfield services (OFS) sector, the effects are indirect but may be significant if unmitigated by national oil companies (NOCs) and OFS suppliers.

Trump’s Tariffs Just Torched His Own Energy Agenda

Oil & Gas‚ Oil and Gas Industry | intent | April 17, 2025 | Comment off

President Trump’s tariff policies – which tanked oil prices and raised the odds of a recession – are undermining America’s petroleum trade surplus. That’s not a desirable outcome for an administration fixated on fixing trade deficits. Petroleum and energy trade, in fact, is one of the few sectors in which the U.S. has a large trade surplus in the dozens of billions of U.S. dollars annually.

Tags