US Secretary of State Marco Rubio warned Venezuela that any attempt to invade Guyana or threaten Exxon Mobil Corp.’s operations in the country would be a “very bad move.”  Rubio spoke less than a month after a Venezuelan patrol ship entered Guyanese waters and positioned itself near a vessel contracted by Exxon, which is operating the world’s fastest-growing major oil field off the coast of the South American country.  “It would be a very bad day for the Venezuelan regime if they were to attack Guyana or attack Exxon Mobil,” Rubio said in the capital city of Georgetown on Thursday. “Suffice it to say that if that regime were to do something such as that, it would be a very bad move. It would be a big mistake. For them.” Venezuelan leader Nicolas Maduro reopened a border dispute more than a century after it was settled by international arbitration as he sought to galvanize supporters for last year’s presidential election. Maduro’s military and naval arsenal dwarfs Guyana’s, which was one of the continent’s poorest countries prior to Exxon’s 2015 discovery of oil.   Guyana’s President Irfaan Ali has been successful in rallying the international community behind the country’s dispute with Venezuela, with the UK, France and the US pledging support.  “We have a big Navy,” Rubio said. “It can get anywhere in the world.”  Rubio also said the US would bolster ties with Guyana, without getting into specifics. “We have commitments that exist today with Guyana,” he said. “We want to build on those, expand on those.”  Rubio also was scheduled to visit Suriname, which has sought to encourage oil exploration in offshore territory close to the Guyanese discoveries. WHAT DO YOU THINK? Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All

Oil fell on concerns that the Trump administration’s tariff onslaught will reduce energy demand. West Texas Intermediate slid 0.8% to settle above $69 a barrel, retreating along with equity markets. Crude still notched its third straight weekly advance amid waning expectations of a near-term oversupply. The US is planning to impose tariffs on auto imports and so-called reciprocal levies next week, widening the global trade war. Oil traders face an uncertain outlook as they grapple with President Donald Trump’s policies and an OPEC+ plan to revive idled output. WTI futures have been rangebound for the past eight months, trading in a band of about $15 between the high $60s and low $80s. “US stocks are struggling, and longer-term demand fears are on the minds of most traders as tariffs begin to kick in on cars not manufactured in the US,” said Dennis Kissler, senior vice president for trading at BOK Financial Securities.   Earlier this week, Vitol’s chief executive officer said while there are some threats to supply, it’s generally adequate for the next couple of years. Meanwhile, Venezuela is boosting oil exports to China as the Trump administration deploys sanctions and secondary tariffs to squeeze the Latin American nation. Oil Prices: WTI for May delivery fell 0.8% to settle at $69.36 a barrel in New York. Futures gained 1.6% for the week. Brent for May settlement dipped 0.5% to settle at $73.63 a barrel. What do you think? We’d love to hear from you, join the conversation on the Rigzone Energy Network. The Rigzone Energy Network is a new social experience created for you and all energy professionals to Speak Up about our industry, share knowledge, connect with peers and industry insiders and engage in a professional community that will empower your career in energy. MORE FROM THIS AUTHOR

The Solong, a burned-out container ship badly damaged in a collision with a US oil tanker, has finally reached Aberdeen Friday morning. It arrived at South Harbour for “safe berthing” following days of intense salvage operations. The Portuguese-flagged vessel was towed to the Port of Aberdeen after crashing into the anchored Stena Immaculate off the East Yorkshire coast on March 10, triggering an explosion and fires. It has been the focus of ongoing salvage efforts after enduring extensive damage and a week-long fire. The Solong was accompanied by another vessel equipped with counter-pollution measures to prevent further environmental damage on its pas The Solong, a burned-out container ship badly damaged in a collision with a US oil tanker, has finally reached Aberdeen Friday morning. It arrived at South Harbour for “safe berthing” following days of intense salvage operations. The Portuguese-flagged vessel was towed to the Port of Aberdeen after crashing into the anchored Stena Immaculate off the East Yorkshire coast on March 10, triggering an explosion and fires. It has been the focus of ongoing salvage efforts after enduring extensive damage and a week-long fire. The Solong was accompanied by another vessel equipped with counter-pollution measures to prevent further environmental damage on its passage to Aberdeen. Solong sailor presumed dead The crash resulted in a tragic loss: one sailor from the Solong, 38-year-old Filipino national Mark Angelo Pernia, remains missing and is presumed dead. In total, rescuers saved 36 crew members from both ships. Meanwhile, the Solong’s captain, 59-year-old Vladimir Motin from St. Petersburg, Russia, has been arrested and charged with gross negligence manslaughter. © DC ThomsonCrew on board the burnt out Solong container ship being tugged into Aberdeen’s south harbour. Image: Kenny Elrick/DC Thomson © DC ThomsonImage: Kenny Elrick/DC Thomson © DC ThomsonImage: Kenny Elrick/DC Thomson. Drone / DJI

U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 3.3 million barrels from the week ending March 14 to the week ending March 21, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. This report was published on March 26 and included data for the week ending March 21. The EIA report showed that crude oil stocks, not including the SPR, stood at 433.6 million barrels on March 21, 437.0 million barrels on March 14, and 448.2 million barrels on March 22, 2024. Crude oil in the SPR stood at 396.1 million barrels on March 21, 395.9 million barrels on March 14, and 363.1 million barrels on March 22, 2024, the report outlined. The EIA report highlighted that data may not add up to totals due to independent rounding. Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.600 billion barrels on March 21, the report showed. Total petroleum stocks were up 3.5 million barrels week on week and up 19.9 million barrels year on year, the report revealed. “At 433.6 million barrels, U.S. crude oil inventories are about five percent below the five year average for this time of year,” the EIA said in its latest weekly petroleum status report. “Total motor gasoline inventories decreased by 1.4 million barrels from last week and are two percent above the five year average for this time of year. Finished gasoline inventories increased and blending components inventories decreased last week,” it added. “Distillate fuel inventories decreased by 0.4 million barrels last week and are about seven percent below the five year average for this time of year. Propane/propylene inventories decreased by

Dive Brief: Automation manufacturer Schneider Electric plans to invest $700 million in its U.S. operations through 2027, the company announced Tuesday. The money will go toward facility upgrades, expansions and openings across eight sites in Texas, Tennessee, Ohio, North Carolina, Massachusetts and Missouri. Schneider expects to create more than 1,000 jobs.  The move marks Schneider’s largest-ever investment in the U.S., as the company aims to meet rising demand across its data center, utilities, manufacturing and energy infrastructure segments. Dive Insight: Schneider’s announcement is part of a larger $1 billion investment the company is making in the U.S. this decade.  Artificial intelligence-driven demand for data centers and electrical infrastructure is driving the need for heightened spending on electrical grid-related needs. Data center electricity demand could double by 2030 — consuming up to 9% of the country’s electricity generation, according to a May 2024 study by the Electric Power Research Institute. “We stand at an inflection point for the technology and industrial sectors in the U.S., driven by incredible AI growth and unprecedented energy demand,” Aamir Paul, president of North America Operations for Schneider Electric, said in a statement.  Schneider has been pushing a localization strategy in recent months, with a goal to locally source and produce roughly 90% of sales in each region. That push could help the company weather the Trump administration’s tariffs on Mexico, where Schneider has much of its North American production.  CFO Hilary Maxson said on a recent earnings call that the company is watching for any reciprocal tariffs that may impact their operations. If the United States-Mexico-Canada Agreement remains in place, Maxson said the impact to Schneider would likely be “immaterial.” If the trade deal and free trade zones are repealed, however, the CFO added that the hit to the company could be greater.  “We’re really

With data center electricity demand on the rise across the U.S., utilities should develop specialized tariffs to protect consumers and keep their grids green when these large load customers interconnect, the Southwest Energy Efficiency Project said Thursday in a report. “While AI offers the potential for significant economic and social benefits, there are growing concerns with the rapid increases in electricity demand from data centers and how they will impact the power sector and state and utility climate goals,” SWEEP said. Data centers today account for about 4.5% of U.S. electricity consumption, according to the analysis. But in its most recent report to Congress, the Lawrence Berkeley National Lab projected data centers could account for up to 12% of U.S. electricity use by 2028, SWEEP said. EPRI recently surveyed 25 utilities nationally and found almost half have received requests for new data center facilities with loads larger than 1,000 MW. And “almost half of the utilities surveyed have received data center requests that exceed 50% of their current system peak demand,” SWEEP said. The potential load additions “pose two types of threats to state greenhouse [gas] emission reduction goals,” SWEEP said: Utilities could add or utilize more fossil-fuel based generation, and they could struggle to add sufficient renewables to meet demand from the electrification of vehicles, buildings and industry, the report warned. To address these risks, SWEEP recommends that utilities ensure new data center customers — and other new industrial or commercial customers with demands over 50 MW, or combined demands from several facilities of more than 100 MW — “commit to providing sufficient revenue, over a contract period such as 12 years, to cover the generation and transmission investments made on their behalf.” Utilities should also “propose and attempt to get approval for tariffs that require new large data center customers, and other new