- The Trump administration rejects its first request from an importer of oil and gas equipment to waive the new 25% tariff on steel imports.
- Borusan Mannesmann Pipe US sought the tariff exclusion for 135K metric tons/year of "green" steel tubing and casing it imports from Turkey and finishes at its facility in Baytown, Tex., but the U.S. Commerce Department said the imported products are made in high enough volumes in the U.S. and there were "no overriding national security concerns" to justify providing tariff exclusions.
- Borusan's waiver request covered just 4% of the 3.1M metric tons of oil country tubular goods the U.S. imported last year, but it was closely watched for hints about how the administration might respond to tariff waiver requests from energy companies that cite national security.
- Royal Dutch Shell (LON:RDSa)'s (RDS.A, RDS.B) offshore division cited national security in requests to waive tariffs on 18.9K tons/year of tubing and casing it says are unavailable from U.S. manufacturers, and Hess (NYSE:HES) and Marathon Oil (NYSE:MRO) made similar arguments in its waiver requests.
- BP has said the specialty steel products it needs are not available in the U.S. when it asked to waive tariffs on 14K tons/year of pipes, tubes and other products that it plans to use in its Mad Dog 2 project in the Gulf of Mexico.
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- Now read: Energy And Materials Dashboard - Update
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