President Donald Trump announced the U.S. will stop bombing Yemen’s Houthi rebels, saying the group indicated it would end attacks on ships in the Red Sea. “They just don’t want to fight,” Trump said, claiming the Iran-backed rebels had “capitulated” — though the Houthis have made no public statement to that effect. Trump declined to...Continue Reading

Marathon Petroleum Sinks to Q1 Loss Amid Low Refining Margins | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 06, 2025, 11:30 AM CDT Marathon Petroleum (NYSE: MPC), the biggest U.S. refiner by volumes, on Tuesday reported a loss for the first quarter as weak...Continue Reading

Rolling Blackouts Hit Tehran as Iran’s Power Crisis Continues | OilPrice.com RFE/RL staff RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many… More Info Premium Content By RFE/RL staff – May 06, 2025, 11:00 AM CDT Unexpected rolling blackouts...Continue Reading

Valaris Limited has agreed to sell its jackup VALARIS 247 to BW Energy for cash proceeds of approximately $108 million. This sale is expected to close in the second half of 2025. The VALARIS 247 is a 27-year-old jackup rig currently operating offshore Australia. SourceContinue Reading

SLB announced at OTC Day 2 the launch of Electris™ — a portfolio of digitally enabled electric well completions technologies that boost production and recovery while reducing the total cost of ownership of an asset. SourceContinue Reading

Sentinel Subsea has successfully completed a six-figure project involving deploying two WellSentinel™️ Coral systems for a key operator in the North Sea. This project supports a large-scale drilling operation and is a significant milestone in the company’s ongoing efforts to enhance offshore safety and operational efficiency. SourceContinue Reading

ABS and Akselos S.A. have announced the joint completion of technical assessment for structural digital twin technology. This marks a significant advancement in the application of digital twin technology for FPSO units, enabling more accurate and reliable assessments of structural integrity.  SourceContinue Reading

Oil Prices Bounce Back From OPEC+ Bombshell | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Premium Content By Michael Kern – May 06, 2025, 10:03 AM CDT Oil prices rallied aggressively on Tuesday morning, recovering from the OPEC+-induced drop that was sparked by the cartel’s decision...Continue Reading

Oil Prices Surge as Market Shrugs Off OPEC Quota Shock | OilPrice.com Julianne Geiger Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. More Info Related News By Julianne Geiger – May 06, 2025, 9:54 AM CDT Oil prices staged a robust comeback on...Continue Reading

Higher Demand and Rates Push Duke Energy Q1 Profit Above Estimates | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 06, 2025, 9:30 AM CDT U.S. utility giant Duke Energy (NYSE: DUK) reported on Tuesday consensus-beating earnings for the first quarter as higher rates and...Continue Reading