BP’s Head of Sustainability Steps Down, No Successor Named | OilPrice.com ZeroHedge The leading economics blog online covering financial issues, geopolitics and trading. More Info Premium Content By ZeroHedge – May 05, 2025, 1:00 PM CDT BP’s top sustainability executive, Giulia Chierchia, will leave the company on June 1. BP’s financial performance has deteriorated, with...Continue Reading

Sunoco LP (NYSE: SUN) is bulking up again—this time north of the border. The Dallas-based fuel distributor announced Monday it will acquire Parkland Corporation (TSX: PKI) in a $9.1 billion cash-and-stock deal, including assumed debt. The move expands Sunoco’s footprint deep into Canada and the Caribbean, while consolidating its position in North American fuel supply...Continue Reading

Oil markets took another hit this weekend as OPEC+ threw another curveball. In a virtual meeting Saturday, the group’s top producers—Saudi Arabia and Russia—announced a 411,000 barrels per day (bpd) output hike for June, nearly triple what had originally been planned. The move follows a similar surge for May and signals a stark strategic pivot...Continue Reading

Guyana Should Hedge Against Oil Price Slumps, Ex Finance Minister Says | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 05, 2025, 11:30 AM CDT Guyana’s government should consider hedging its oil production against the falling oil prices as its booming oil revenues are set...Continue Reading

U.S. Electricity From Fossils Fuels Dips Below 50% for the First Time Ever | OilPrice.com Robert Rapier Robert Rapier is a chemical engineer in the energy industry. He has 25 years of international engineering experience in the chemical, oil and gas, and… More Info Premium Content By Robert Rapier – May 05, 2025, 11:00 AM...Continue Reading

Saudi Arabia and India at Odds Over Crude Supply to Possible Joint Refineries | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 05, 2025, 10:30 AM CDT Last month, Saudi Arabia and India agreed to boost energy cooperation, including by potential Saudi investment in two...Continue Reading

Trump Calls for “Total Dismantlement” of Iran’s Nuclear Program | 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 05, 2025, 10:00 AM CDT President Trump wants...Continue Reading

Valaris Limited has been awarded a five-well contract offshore West Africa for drillship VALARIS DS-15. The contract is expected to commence in the third quarter 2026. The total contract value, based on an estimated duration of 250 days, is approximately $135 million, including upfront payments for rig upgrades and mobilization. SourceContinue Reading

Morgan Stanley Slashes Brent Oil Price Forecast to $62.50 | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 05, 2025, 9:15 AM CDT Morgan Stanley joined other major investment banks in slashing oil price forecasts amid expectations of a larger market surplus later this year...Continue Reading

U.S. crude oil supply will rise more slowly than expected for the rest of 2025 and in 2026 and peak as early as this year, as WTI benchmark prices below $60 per barrel are testing the breakeven point of shale production, energy flows intelligence firm Kpler said on Monday. Oil prices have slipped by more...Continue Reading