- Sputnik International
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Canadian Tribunal Initiates Probe Into ‘Dumping’ of Oil ‘Sucker Rods’ From Mexico, Brazil, Argentina

© Flickr / shannonpatrick17Trans Canada Keystone Oil Pipeline
Trans Canada Keystone Oil Pipeline - Sputnik International
Canada remains one of the leading global producers of crude and also holds one of the largest oil reserves in the world.

Canada’s International Trade Tribunal has launched an inquiry to determine whether Mexico, Brazil, and Argentina have caused “injury” to domestic industry by dumping sucker rods exported from or originating in these countries, according to a statement published on the government of Canada’s website.

“The Canadian International Trade Tribunal today initiated an inquiry to determine whether the dumping of sucker rods originating in or exported from the Argentine Republic, the Federative Republic of Brazil and the United Mexican States has caused injury or retardation or is threatening to cause injury”, the statement reads.

Sucker rods are constructions used in the oil industry to pump oil from wells by joining together the surface and downhole components of a reciprocating piston pump, and are usually made from steel.

Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that hammered prices, in Cushing, Oklahoma, March 24, 2016 - Sputnik International
Oil Prices Continue to Reach New Highs Based on Expectations of US Stockpile Reductions
According to the statement, the final inquiry into potential “injury” or “retardation” that has been or could be caused to Canada’s domestic industry was launched following a notice from the Canada Border Services Agency based on a preliminary determination.

The tribunal, which is an independent quasi-judicial body that reports to the Canadian Parliament through the minister of finance, is expected to deliver its ruling on 28 April. No further details about the case have been provided so far.

To participate in the discussion
log in or register
Заголовок открываемого материала