The International Energy Agency on Wednesday agreed to release a record 400 million barrels of oil from strategic stockpiles to combat a spike in global crude prices since the start of the U.S.-Israeli war with Iran, with the U.S. contributing the bulk of the supply…
U.S. President Donald Trump plans to invoke emergency law for Sable Offshore as it looks to restart production from a cluster of offshore platforms in California, Bloomberg News reported on Wednesday, citing a person familiar with the matter…
Major industry announcements and new product launches continued to drive significant visitor numbers and plentiful business activity as Oceanology International 2026 (Oi26) surpassed expectations on the second day at Excel London.Among the companies taking center stage…
G7 energy ministers stopped short of agreeing on a release of strategic oil reserves on Tuesday and instead asked the International Energy Agency to assess the situation before acting.The IEA said it was convening an extraordinary meeting of its member states on Tuesday…
The economic risks of the world’s heavy dependence on oil and gas have been laid bare twice in four years - first with Russia’s invasion of Ukraine and now with the U.S.-Israeli war on Iran - undermining U.S. President Donald Trump’s flagship push to double down on fossil fuels…
The Trump administration's second sale of oil and gas leases in the Gulf of Mexico in three months attracted far less industry interest than the auction it held in December, according to a sale document posted on a government website on Tuesday…
Responding to the surge in global subsea cable investment driven by cloud computing and artificial intelligence, ABS has published its Technical Standard for Subsea Power Cables.Subsea power cable design, installation and operation pose unique challenges due to harsh marine environments…
Exail is supplying over 70 acoustic transponders and integrated navigation suites for two major deepwater energy projects in Brazil and Angola. These contracts mark a significant milestone in the global adoption of Exail’s Long Baseline (LBL) subsea positioning technology…
Jan De Nul has selected Ulstein Design & Solutions to provide the vessel design for a new subsea trenching vessel that will be added to the company’s offshore fleet.The vessel, scheduled for delivery in 2028, will be based on a proven subsea…
Oil prices plummeted 7% on Tuesday after soaring to a more than three-year high in the previous session as U.S. President Donald Trump predicted the war in the Middle East could end soon, easing concerns about prolonged disruptions to oil supplies…
Saudi Arabia's Aramco, the world's top oil exporter, said on Tuesday there would be 'catastrophic consequences' for the world's oil markets if the Iran war continues to disrupt shipping in the Strait of Hormuz.Oil shipments have been largely blocked from traversing through the shipping artery…
The Bureau of Ocean Energy Management has released the 2026 National Assessment of Undiscovered Oil and Gas Resources, an estimate of the undiscovered, technically and economically recoverable oil and natural gas resources outside of known oil and gas fields on the U…
2025 was a year of recalibration, continuing the softness experienced since the fourth quarter of 2024. Rather than a slowdown, this period can be better described as a collective deep breath as the industry prepares for the next upcycle in the Asian Pacific region…
Unlike larger jackup regions where scale provides greater flexibility, relatively minor changes in supply can have an outsized impact. The availability, reactivation, or retirement of a single rig can materially shift utilisation levels, dayrate negotiations…
Mitsui O.S.K. Lines (MOL) has agreed to jointly own two commissioning service operation vessels (CSOVs) with Cyprus-based shipping company Schoeller Holdings, marking the Japanese company’s first entry into the European offshore wind support vessel market…