US tariffs to drive up energy costs

The lifeblood of this sector – drilling rigs, pipelines, refineries, compressors, storage tanks and offshore platforms – is steel. — Reuters

WASHINGTON: The proposed US tariffs on steel and aluminium imports are poised to escalate costs for US oilfield services companies, which rely on these metals for their operations.

Oilfield services firms such as ChampionX and Patterson-UTI are the backbone of the North American oil and gas industry, supplying essential equipment and services for drilling, production and maintenance.