Brief: Sumitomo CFO: U.S. Tariffs Raised Oil Drilling Pipe Prices, Benefiting U.S. Pipe Business, But Low Oil Prices Slowed Development Activities

Sumitomo

31/07/2025 05:51

July 31 (Reuters) - Sumitomo Corp 8053.T:

SUMITOMO CORP OFFICIAL: CONTINUING TO CONSIDER ALL OPTIONS FOR AMBATOVY NICKEL PROJECT IN MADAGASCAR

SUMITOMO OFFICIAL: RESUMED OPERATIONS AT AMBATOVY IN EARLY MAY, AIMING TO PRODUCE MID-30,000 TONS OF NICKEL IN FY2025

SUMITOMO CFO: U.S. TARIFFS HAVE RAISED OIL DRILLING PIPE PRICES, BENEFITING OUR U.S. PIPE BUSINESS, BUT LOW OIL PRICES HAVE SLOWED DEVELOPMENT ACTIVITIES, OFFSETTING GAINS

Source text: [ID:]

Further company coverage: 8053.T

 (Reporting by Yuka Obayashi)

 ((kiyoshi.takenaka@thomsonreuters.com;))