U.S. Tariffs to raise costs, delay oil and gas projects in 2026, report says

U.S. President Donald Trump’s sweeping tariffs are set to raise operating costs, disrupt supply chains and weaken investment momentum for the oil and gas

industry in 2026, said a report published by global financial firm Deloitte on Wednesday .

The energy industry relies heavily on global supply chains and internationally sourced materials such as drilling rigs, valves, compressors and specialized steel are central to their operations.

However, the U.S. has imposed tariffs on a wide range of imports, including 10 per cent to 25 per cent on raw materials not covered by the United States-Mexico-Canada Agreement and 50 per cent on steel, aluminum and copper.

The report said those tariffs add uncertainty around the sourcing of steel, aluminum, copper and other materials and could reshape