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The National
02-08-2025
- Business
- The National
Oil drops on weak US jobs data and Trump's tariffs
Oil prices dropped on Friday after a weaker-than-expected US jobs report and tariffs announcements weighed on prospects for energy demand growth. Brent, the benchmark for two-thirds of the world's oil, dropped 2.83 per cent to $69.67 a barrel at the market close on Friday, while West Texas Intermediate, the gauge that tracks US crude, fell 2.79 per cent to settle at $67.33 a barrel on Friday, its biggest drop in a single day since June 24. A US jobs report on Friday put employment growth at a much lower level than expected. The Labour Department's employment report for July showed employers added 73,000 jobs. Markets had expected a gain of 100,000 jobs, but the figure fell short and was compounded by a downwards revision for May and June payrolls. The unemployment rate ticked up to 4.2 per cent. 'This report is a major red flag,' Nigel Green, chief executive of global financial advisory deVere Group, said. 'The headline miss is bad enough. But the real story is the scale of the revisions. The jobs market isn't just slowing – it has been much weaker than anyone realised.' The downwards revisions for May and June jobs is a signal for the Federal Reserve to take more action. 'This jobs report will likely be the turning point that tilts the balance decisively in favour of a September cut. That's what markets are telling us. Policy is about to get looser,' Mr Green said. The next Fed meeting is scheduled for mid-September, with one more jobs report due before then. 'The jobs market just gave the Fed a green light. They're likely to take it,' Mr Green said. Oil prices on Friday were also pressured by traders widely expecting that the Opec+ alliance will decide to boost supplies to the market during a meeting this weekend. 'Opec+ is set to increase production by 548,000 barrels per day in September, which could potentially weigh on prices,' Milad Azar, market analyst at XTB Mena, said. The Opec+ alliance is expected to meet on August 3 to announce the return of additional barrels to the market from next month. On Thursday, US President Donald Trump signed an executive order imposing ' reciprocal tariffs ' between 10 per cent to 41 per cent on dozens of countries. Markets will keep a close eye on Mr Trump's tariffs and any retaliatory measures from its targeted trade partners, analysts said. The President signed an executive order on Thursday that increased the rate on Canada to 35 per cent from 25 per cent, but an exemption for goods under the US-Mexico-Canada trade pact that includes oil remained in place. 'The focus for oil markets will likely remain on any tariffs fallout should countries look to retaliate against the US, and on any greater clarity on sanctions as US envoy Steve Witkoff is due to visit Russia,' Daniel Richards, Emirates NBD's Mena economist, said. The US set levies of 39 per cent on Switzerland and 25 per cent on India. Among Middle East countries, Syria faces 41 per cent, and Iraq and Libya will pay 35 per cent and 30 per cent, respectively. For Jordan and Israel, the rate is 15 per cent. 'There is also still a view within the market that [US] tariffs are, once again, a negotiating gambit, with the 'final' levies unlikely to be close to these levels, as negotiations between the US and its trading partners continue,' Michael Brown, senior research strategist at Pepperstone, said. Oil traders are also focused on Mr Trump's heightened pressure on Russia to reach a peace deal with Ukraine through the threat of secondary tariffs to be imposed on buyers of Russia crude, such as China and India, if Moscow does not reach a truce by the set deadline, Mr Brown said. 'Oil prices could remain under pressure over the medium to long term due to concerns about weaker global demand,' Joseph Dahrieh, managing principal at Tickmill, said. 'US tariffs have fuelled fears of a long-term impact on the global economy. Uncertainty around US-China trade talks could also remain an important source of risks, as the two largest oil-consuming nations could take a hit,' he said. 'If the economic slowdown materialises, the market could see new declines in prices. Tariffs are also expected to drive more inflation in the US, which could delay interest rate cuts, keeping borrowing costs elevated and slowing growth.' The main topic that traders are watching this week is Mr Trump's threat to hit buyers of Russian oil with secondary tariffs, according to Giovanni Staunovo, a strategist at Swiss bank UBS. 'Supply disruption concerns supported crude prices. The tariffs news had only a modest negative impact on prices as the EU and China got either lower tariffs or are still negotiating,' he said. Still, this is a market that is 'vastly oversupplied', thereby tilting the balance of risks firmly to the downside, and leaving any spikes vulnerable to being sold into relatively quickly, said Mr Brown.
Reuters
29-07-2025
- Business
- Reuters
Oil prices rise further on trade war relief
LONDON, July 29 (Reuters) - Oil prices edged up on Tuesday on optimism that a trade war between the United States and its major trading partners was abating and as President Donald Trump ramped up pressure on Russia over its war in Ukraine. Brent crude futures were up 47 cents, or 0.7%, at $70.51 a barrel at 0924 GMT, having touched their highest since July 18, while U.S. West Texas Intermediate crude was at $67.24, up 53 cents, or 0.8%. Both contracts settled more than 2% higher in the previous session. The trade agreement between the United States and the European Union, while imposing a 15% import tariff on most EU goods, sidestepped a full-blown trade war between the two major allies that would have rippled across nearly a third of global trade and dimmed the outlook for fuel demand. The agreement also calls for $750 billion of EU purchases of U.S. energy over the next three years, which analysts say the bloc has virtually no chance of meeting, while European companies are to invest $600 billion in the U.S. over the course of President Donald Trump's second term. Top economic officials from the U.S. and China are meeting in Stockholm for a second day to resolve longstanding economic disputes and step back from an escalating trade war between the world's two biggest economies. Trump also set a new deadline on Monday of "10 or 12 days" for Russia to make progress toward ending the war in Ukraine. Trump has threatened sanctions on both Russia and buyers of its exports unless progress is made. "Oil prices rallied after President Trump said he would shorten the deadline for Russia to come to a deal with Ukraine to end the war, raising supply concerns," ING analysts said in a note. Market participants are also waiting to hear the outcome of the U.S. Federal Open Market Committee meeting on July 29-30. The Fed is widely expected to hold rates but could signal a dovish tilt amid signs of cooling inflation, said Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova.
Reuters
22-07-2025
- Business
- Reuters
Halliburton quarterly profit falls on weak North America drilling demand
July 22 (Reuters) - Oilfield services firm Halliburton (HAL.N), opens new tab reported a fall in profit for the second quarter on Tuesday, hurt by weak North America demand. U.S. President Donald Trump's trade policy heightened uncertainty in the energy industry, with trade war expected to curb global economic growth and, subsequently, demand for energy. The company had flagged a second-quarter earnings impact from the tariffs and lower oilfield activity in North America as producers evaluated drilling and completions at weak oil prices. "Oilfield services market will be softer than I previously expected over the short to medium term," said Halliburton CEO Jeff Miller said in a statement. The company posted quarterly revenue from its North America segment at $2.26 billion, compared with $2.48 billion a year earlier. The company reported a profit of $472 million, or 55 cents per share, for the quarter ended June 30, compared with $709 million, or 80 cents per share, a year earlier.
Yahoo
17-07-2025
- Business
- Yahoo
Pipeline Transport Industry Outlook Report 2025-2034: Crude Oil Pipeline Transport, Natural Gas Pipeline Transport, Refined Petroleum Products Pipeline Transport Market Share and Growth Analysis
The Pipeline Transport Market, valued at USD 146.7 billion in 2025, is set to achieve a CAGR of 6.6% and reach USD 260.7 billion by 2034. Driven by global energy demand, infrastructure investments, and technological advancements in AI and IoT, the market expands with hydrogen and CO₂ pipelines focusing on sustainability and efficiency. Pipeline Transport Market Dublin, July 17, 2025 (GLOBE NEWSWIRE) -- The "Pipeline Transport Market Outlook 2025-2034: Market Share, and Growth Analysis By Type (Crude Oil Pipeline Transport, Natural Gas Pipeline Transport, Refined Petroleum Products Pipeline Transport, Other Pipeline Transport), By Solutions, By Services" report has been added to Transport Market is valued at USD 146.7 billion in 2025. Further the market is expected to grow by a CAGR of 6.6% to reach global sales of USD 260.7 billion in 2034The pipeline transport market is experiencing significant growth, driven by increasing global demand for efficient, cost-effective, and environmentally friendly transportation of energy and raw materials. Pipelines play a crucial role in moving crude oil, refined petroleum products, natural gas, water, chemicals, and even hydrogen across vast distances with minimal energy consumption compared to other transportation modes. With rising investments in infrastructure modernization, cross-border energy trade, and renewable energy projects, pipeline networks are expanding rapidly. The shift toward cleaner fuels and decarbonization is also influencing the market, with new pipeline systems being developed to transport hydrogen, biofuels, and captured carbon dioxide (CO2) for storage or reuse. Technological advancements, including digital monitoring, AI-driven predictive maintenance, and leak detection systems, are enhancing operational efficiency and safety. However, challenges such as regulatory restrictions, land acquisition hurdles, and environmental concerns continue to impact the pace of pipeline transport development, requiring innovative solutions and policy support to sustain long-term 2024, the pipeline transport market is witnessing major infrastructure expansions, particularly in the oil and gas sector, to meet growing energy demand in emerging economies. The construction of cross-border natural gas pipelines is accelerating, particularly in North America, the Middle East, and Asia-Pacific, strengthening energy trade partnerships. The adoption of smart pipeline technologies, including IoT-connected sensors and fiber-optic monitoring systems, is improving real-time pipeline surveillance and reducing the risks of leaks and failures. Sustainability is becoming a central focus, with companies investing in low-emission pipeline operations and green energy transport pipeline networks are gaining traction, with several large-scale projects underway to facilitate hydrogen blending and transportation for industrial decarbonization efforts. Additionally, governments are tightening pipeline safety regulations, increasing compliance costs but also encouraging the adoption of advanced risk management and automation technologies. With geopolitical tensions affecting energy supply chains, pipeline transport is emerging as a preferred mode of energy distribution due to its reliability and cost-efficiency compared to shipping and rail ahead to 2025 and beyond, the pipeline transport market is expected to see continued advancements in automation, AI-driven operational efficiency, and the integration of blockchain for data security and transaction transparency. The growing transition toward hydrogen and carbon capture pipelines will drive significant investment in specialized transport networks that require advanced material coatings, leak prevention systems, and temperature-sensitive infrastructure. The adoption of digital twins for pipeline simulation and predictive maintenance will enable operators to optimize pipeline efficiency, extend asset lifespan, and reduce operational grid integration with pipeline transport will also play a crucial role in balancing energy distribution across regions, ensuring a steady supply of clean energy. Additionally, offshore and deepwater pipeline projects are expected to expand, requiring innovative engineering solutions for underwater energy transportation. As sustainability and emission reduction targets become stricter, the market will increasingly focus on eco-friendly pipeline designs, low-carbon transportation methods, and enhanced cybersecurity frameworks to prevent potential threats. The industry's ability to balance efficiency, environmental responsibility, and regulatory compliance will shape the long-term growth of pipeline transport as a key enabler of global energy and resource Insights Pipeline Transport Market Expansion of Cross-Border Natural Gas Pipelines : The construction of international natural gas pipelines is increasing, strengthening energy trade agreements and ensuring stable energy supply for key markets. Adoption of Smart Pipeline Technologies : IoT-enabled sensors, fiber-optic leak detection, and AI-driven analytics are improving pipeline safety, efficiency, and real-time monitoring capabilities. Growth of Hydrogen and Carbon Capture Pipelines : The transition to clean energy is driving investments in hydrogen and CO? transport networks, requiring specialized materials and monitoring solutions. Advancements in Digital Twin and Predictive Maintenance : Digital twin technology is being integrated into pipeline operations to simulate real-world conditions, optimize maintenance schedules, and prevent failures. Increased Investment in Offshore and Deepwater Pipelines : The expansion of offshore oil, gas, and hydrogen pipeline infrastructure is requiring new engineering solutions for underwater energy transport. Rising Global Energy Demand and Infrastructure Investments : Increasing energy consumption and industrial expansion are fueling investments in pipeline networks for efficient and cost-effective energy transportation. Government Policies Supporting Renewable and Alternative Energy Transport : Regulatory initiatives promoting hydrogen, biofuel, and carbon capture pipelines are driving new pipeline development projects. Technological Advancements in Pipeline Efficiency and Safety : Innovations in AI, automation, and real-time monitoring are enhancing pipeline transport reliability, reducing environmental risks, and optimizing operational efficiency. Growing Focus on Sustainable and Low-Emission Pipeline Solutions : Companies are prioritizing eco-friendly pipeline materials, carbon-neutral transport methods, and advanced leak detection technologies to align with global sustainability goals. Regulatory and Environmental Constraints : Strict environmental policies, land acquisition challenges, and public opposition to new pipeline projects can delay development and increase compliance costs for operators. Your Takeaways From this Report Global Pipeline Transport market size and growth projections (CAGR), 2024 - 2034 Impact of recent changes in geopolitical, economic, and trade policies on the demand and supply chain of Pipeline Transport. Pipeline Transport market size, share, and outlook across 5 regions and 27 countries, 2024 - 2034. Pipeline Transport market size, CAGR, and Market Share of key products, applications, and end-user verticals, 2024 - 2034. Short and long-term Pipeline Transport market trends, drivers, restraints, and opportunities. Porter's Five Forces analysis, Technological developments in the Pipeline Transport market, Pipeline Transport supply chain analysis. Pipeline Transport trade analysis, Pipeline Transport market price analysis, Pipeline Transport Value Chain Analysis. Profiles of 5 leading companies in the industry- overview, key strategies, financials, and products. Latest Pipeline Transport market news and developments. Key Attributes: Report Attribute Details No. of Pages 150 Forecast Period 2025 - 2034 Estimated Market Value in 2025 146.7 Billion Forecasted Market Value by 2034 260.7 Billion Compound Annual Growth Rate 6.6% Regions Covered Global Companies Featured ABB Group Alcatel-Lucent Enterprise Emerson Electric Co. FMC Technologies Inc. Schneider Electric SE Kinder Morgan Inc. TransCanada PipeLines Limited Enbridge Inc. Williams Companies Inc. Energy Transfer LP Plains All American Pipeline LP Colonial Pipeline Company TC PipeLines LP Dominion Energy Inc. Magellan Midstream Partners L.P. DCP Midstream LP Buckeye Partners L.P. Crestwood Equity Partners LP ONEOK Inc. Enterprise Products Partners L.P. TC Energy Corporation Chevron Corporation Exxon Mobil Corporation Phillips 66 Shell Pipeline Company LP EnLink Midstream Partners LP NuStar Energy L.P. Noble Midstream Partners LP Shell Midstream Partners L.P. CNX Midstream Partners LP Pembina Pipeline Corporation Keyera Corp. Inter Pipeline Ltd. Pipeline Transport Market Segmentation By Type Crude Oil Pipeline Transport Natural Gas Pipeline Transport Refined Petroleum Products Pipeline Transport Other Pipeline Transport By Solutions Security Solutions Automation And Control Integrity And Tracking Solution Network Communication Solution Other Solutions By Services Consulting Service Managed Service Maintenance And Support By Geography North America (USA, Canada, Mexico) Europe (Germany, UK, France, Spain, Italy, Rest of Europe) Asia-Pacific (China, India, Japan, Australia, Vietnam, Rest of APAC) The Middle East and Africa (Middle East, Africa) South and Central America (Brazil, Argentina, Rest of SCA. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Pipeline Transport Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
Offshore Drilling Equipment Market to Cross $113 Billion by 2030: Increasing Adoption of Digitalization and Automation in Offshore Drilling Operations
The market offers opportunities driven by rising global energy demand, the shift to offshore oil and gas exploration due to depleted onshore reserves, and technological innovations in subsea systems. The market is evolving with increased digitalization and a focus on renewable applications. Offshore Drilling Equipment Market Dublin, June 11, 2025 (GLOBE NEWSWIRE) -- The "Offshore Drilling Equipment Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F" has been added to offering. The Offshore Drilling Equipment Market was valued at USD 87.1 Billion in 2024, and is expected to reach USD 113.1 Billion by 2030, rising at a CAGR of 4.30%. Market growth is primarily driven by increasing global energy demand, particularly from industrializing nations, prompting the need for offshore oil and gas exploration. As onshore reserves become less viable, energy companies are shifting focus to offshore reserves, where vast untapped resources lie beneath the ocean floor. Technological innovations, such as subsea systems and automated drilling equipment, are enhancing efficiency and enabling access to deeper, more complex fields. Improved oil price stability is also reviving investment in offshore projects. Geopolitical considerations and energy security concerns further reinforce the need to develop offshore energy infrastructure. In parallel, the expansion of offshore wind projects and the repurposing of certain drilling rigs for renewable energy applications reflect the market's evolving dynamics. Strategic mergers and acquisitions are reshaping the competitive landscape and positioning key players to meet growing offshore energy demands. Key Market Driver Rising Global Energy Demand and Exploration for Untapped Reserves: The rising global energy demand, especially from emerging economies experiencing rapid industrial growth and urbanization, is a central factor boosting offshore exploration efforts. With accessible onshore oil and gas reserves declining or becoming harder to exploit, energy producers are increasingly investing in offshore drilling to tap into previously underutilized hydrocarbon sources. Offshore operations allow access to substantial reserves located beneath the seabed, particularly in deepwater and ultra-deepwater regions. These environments, while technically challenging, are critical for meeting long-term energy requirements. Growing reliance on fossil fuels for sectors like transportation, manufacturing, and power generation continues to fuel demand for new offshore development. As a result, companies are expanding capital expenditure on advanced drilling rigs and equipment capable of operating in hostile marine environments. The increasing number of deepwater projects around the globe is expected to significantly contribute to the market's growth over the forecast period. Key Market Challenge Environmental Concerns and Regulatory Challenges: Environmental issues present one of the key challenges in the offshore drilling equipment market. Offshore drilling activities pose risks to marine biodiversity and ecosystems, particularly in deepwater operations where potential for oil spills or chemical discharges is higher. Past incidents have underscored the long-term damage such activities can cause, leading to increased public and governmental scrutiny. In response, regulatory bodies have imposed strict environmental controls and safety standards, which offshore drilling companies must comply with to maintain licenses and avoid penalties. These compliance requirements add to project complexity and operational costs, particularly as companies must invest in environmentally safe technologies, waste containment, and emergency response mechanisms. Navigating varied and region-specific environmental regulations adds to the administrative and financial burden, especially for companies operating across multiple jurisdictions. Key Market Trend Increasing Adoption of Digitalization and Automation in Offshore Drilling Operations: Digitalization and automation are transforming offshore drilling operations by enhancing efficiency, safety, and real-time decision-making. Advanced technologies such as data analytics, AI-driven monitoring systems, and predictive maintenance tools are increasingly being deployed to manage offshore rigs. These solutions collect and analyze real-time data from equipment and sensors, enabling faster responses to anomalies and optimizing drilling performance. Predictive maintenance, in particular, is minimizing unplanned downtimes and extending equipment life by anticipating component failures before they occur. Remote operations and monitoring capabilities are also reducing the need for extensive on-site personnel, improving worker safety and reducing operational costs. As offshore drilling becomes more data-driven, companies are investing in digital infrastructure to maintain competitive advantages in high-stakes environments such as deepwater and ultra-deepwater projects. Key Market Players Profiled in the Report Schlumberger N.V. Weatherford International PLC Baker Hughes Co. Halliburton Company Tenaris SA Transocean Ltd. Nabors Industries Ltd. Vallourec SA Report Scope In this report, the Global Offshore Drilling Equipment Market has been segmented into the following categories: Offshore Drilling Equipment Market, By Type: Drilling Rig Drilling Platforms Drill Bits Shale Shakers Blowout Preventers Others Offshore Drilling Equipment Market, By Application: Shallow water Deepwater Ultra-deepwater Offshore Drilling Equipment Market, By Region: North America United States Canada Mexico Europe Germany France United Kingdom Italy Spain Asia-Pacific China India Japan South Korea Australia South America Brazil Colombia Argentina Middle East & Africa Saudi Arabia UAE South Africa Key Attributes Report Attribute Details No. of Pages 188 Forecast Period 2024-2030 Estimated Market Value (USD) in 2024 $87.1 Billion Forecasted Market Value (USD) by 2030 $113.1 Billion Compound Annual Growth Rate 4.3% Regions Covered Global For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Offshore Drilling Equipment Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
