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Summary • Trump orders 10% tariffs on Canadian oil, 25% tariffs on Mexican crude • U.S. refineries face higher costs for heavier crude grades • U.S. refinery earnings already under pressure (Reuters) – U.S. President Donald Trump’s trade tariffs on Canadian and Mexican oil imports will offer European and Asian refineries a competitive advantage against …
Trump’s Oil Tariffs a Boost for European and Asian Refiners Read More »
Complementary production in Canada and the U.S. boosts energy security By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Enbridge’s Cheecham Terminal near Fort McMurray, Alberta is a key oil storage hub that moves light and heavy crude along the Enbridge network. Photo courtesy Enbridge The …
Explainer: Why Canadian Oil is So Important to the United States Read More »
(Reuters) – Canada will respond immediately and forcefully if the United States goes ahead with a threat to impose tariffs, Prime Minister Justin Trudeau said on Friday, warning Canadians that they could be facing tough times. President Donald Trump has set a Saturday deadline to slap a 25% tariff on imports from Canada and Mexico. …
Trudeau Says Canada Would Respond to Tariffs, Warns of Tough Times to Come Read More »
(Reuters) – OPEC+ is unlikely to alter existing plans to raise output gradually when it meets on Monday, delegates from the producer group told Reuters, despite U.S. President Donald Trump urging OPEC and its de facto leader Saudi Arabia to bring down prices. The meeting of top ministers from the Organization of the Petroleum Exporting …
OPEC+ Unlikely to Change Output Policy When Panel Meets on Monday, Sources Say Read More »
Canadian oil producer Imperial Oil posted a fall in fourth-quarter profit on Friday, as lower crude prices offset higher production and stronger refinery-capacity utilization.Benchmark crude prices fell 3% in 2024. The company still raised its quarterly dividend by 20% to between 60 and 72 Canadian cents per share. Imperial’s upstream production for the October-December quarter was …
Canada’s Imperial Oil Quarterly Profit Falls on Weak Crude Prices Read More »
The battery maker’s bankruptcy lawyer argued in a letter to creditors that Chapter 11 processes cover all countries Bloomberg News The steps to recover claims “violate United States federal law and an order from the U.S. Bankruptcy court,” Christopher T. Greco, a lawyer for Kirkland & Ellis LLP, wrote in the letter seen by newspaper …
Northvolt Threatens to Sue Creditors Over Seized Funds Read More »
CEO sees “a foggy picture ahead for 2025” amid sanctions, tariffs and the potential for weaker oil prices. Shell Plc plans to keep spending tight this year after profit fell in the final quarter of 2024. Energy supermajors expected some end-of-year weakness, when oil prices mostly treaded below $75 a barrel following the election of US President …
With the threat of a Feb. 1 tariff imposition looming, U.S. President Donald Trump’s pick to lead the Commerce Department says Canada could avoid tariffs in the short term if the government addresses border concerns – and those sentiments are being echoed by Newfoundland and Labrador Premier Andrew Furey. Detailing a broader tariff plan …
The European Commission did not propose a ban on Russian liquefied natural gas in its latest package of sanctions because member states raised concerns about first securing alternatives including from the United States, EU diplomats said. “First you have to have a deal because otherwise you will be left without gas from Russia and without …
EU Won’t Ban Russian LNG Until it Secures Alternatives, Diplomats Say Read More »
Mexico’s government is looking to speed up plans to double its strategic natural gas storage capacity amid concern that U.S. President Donald Trump could use the country’s dependence on U.S. gas as some form of leverage, three sources familiar with the matter said. Mexico, a net importer of natural gas, has just 2.4 days of …
Mexico to Speed up Plans to Double Gas Storage Capacity Amid Trump Supply Fears Read More »
