An increasing number of “zombie” or “phantom” oil tankers—vessels that assume the identities of scrapped ships—have emerged off Venezuela’s coast, allowing dark fleet operators to circumvent U.S. trade restrictions on global oil transport. According to a Bloomberg report, one of these zombie tankers was recently spotted off the waters of Malaysia after a two-month voyage...Continue Reading
National Ocean Industries Association (NOIA) President Erik Milito issued a statement on Friday in support of the House Natural Resources Committee reconciliation package. “Chairman Westerman’s bill is a game-changer for offshore energy,” Milito said. SourceContinue Reading
The total number of active drilling rigs for oil and gas in the United States slipped this week, according to new data that Baker Hughes published on Friday, following a 2 rig increase in each of the two weeks prior. The total rig count in the US fell by 3 to 584 rigs, according to...Continue Reading
OPEC Moves Up Meeting To Discuss Oil Production Quotas | 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 02, 2025, 11:00 AM CDT The OPEC+ members currently participating in voluntary production...Continue Reading
Oil Markets Enter May on the Back Foot | OilPrice.com Tom Kool Tom majored in International Business at Amsterdam’s Higher School of Economics, he is Oilprice.com’s Head of Operations More Info Premium Content By Tom Kool – May 02, 2025, 11:00 AM CDT Crude oil futures tumbled over the past week, falling more than 6%...Continue Reading
Equinor has entered into agreements with Brazilian company PRIO to sell its 60% operated interest in the Peregrino field in Brazil for $3.5 billion USD. Peregrino is a heavy oil field consisting of a FPSO platform supported by three fixed platforms. Equinor has been operating the field since 2009, with around 300 million barrels of...Continue Reading
Europe’s Natural Gas Prices Rise as China Hints at U.S. Trade Talks | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com, More Info Related News By Michael Kern – May 02, 2025, 10:30 AM CDT European benchmark natural gas prices rose on Friday amid signals from China that it...Continue Reading
Imperial Oil Q1 Earnings Rise on Higher Refining Margins | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 02, 2025, 10:30 AM CDT Canadian producer Imperial Oil booked a higher net income for the first quarter than a year earlier as industry refining margins improved....Continue Reading
Tesla’s Problems Create an Opportunity Elsewhere | OilPrice.com Premium Content By Editorial Dept – May 02, 2025, 9:30 AM CDT There have been reports this week that the Tesla (TSLA) board have initiated a search for a new CEO to replace Elon Musk. The company has denied them, of course, but the chaos around Tesla’s...Continue Reading
Crude Oil Prices Retreat as Demand Cracks and Supply Risks Mount | OilPrice.com Premium Content By Editorial Dept – May 02, 2025, 9:30 AM CDT Crude oil futures tumbled over the past week, falling more than 6% as concerns over weakening global demand and a resurgent supply outlook weighed on sentiment. West Texas Intermediate (WTI)...Continue Reading
