Subsea7 has secured a large variation order by Turkish Petroleum Offshore Technology Center AS (TP-OTC) relating to the Sakarya field development in the Black Sea, offshore Türkiye.The award represents an extension to the contract announced…
Asia depends on oil and gas from the Middle East, sourcing 60% of its crude from the region, making it highly vulnerable if the Iran war causes a prolonged closure of the Strait of Hormuz supply route.How Much Middle Eastern Oil Does Asia Import…
Oil prices rose 3% on Wednesday as the U.S.-Israeli war on Iran disrupted Middle East supplies, but the pace of gains slowed from past sessions after President Donald Trump suggested the U.S. Navy could escort vessels through the Strait of Hormuz…
OEG has expanded its offshore wind vessel fleet with the delivery of Fulmar, a new multi-purpose crew transfer vessel (CTV), following successful sea trials.The vessel will operate in U.K. waters and has secured its first charter in Scotland…
Equinor has completed its investigation into a well control incident on Odfjell Drilling's Deepsea Bollsta drilling rig in September 2025, classifying it in the company’s highest category of severity.The incident occurred during plugging operations…
OceanSTAR Engineering, a subsidiary of OceanSTAR Elite, has entered into a long-term contract with Petronas for the provision of lease, operation and maintenance of a floating production storage and offloading (FPSO) unit supporting the Sepat…
Malaysia’s oil and gas services firm Velesto has secured a five-year drilling contract from Petronas for its NAGA 2 jack-up rig.Under the contract, NAGA 2 will undertake drilling activities beginning in February 2026 for a firm period of five years…
Arabian Drilling has reactivated two rigs that were recalled in the fourth quarter of 2025 and launched its first international offshore contract within the Gulf Cooperation Council region-based company.The Saudi Arabia-based contractor said…
India began rationing natural gas on Tuesday while countries around Asia looked to the spot market to replace supplies, activated emergency plans and prepared to step up production, as the conflict in the Middle East curtailed shipping and halted Qatari output…
China is the world's largest energy importer and would therefore appear vulnerable to the surge in crude oil and natural gas prices from the conflict between Israel and the United States against Iran.But the opposite is most likely the case…
European financial markets are under strain as the U.S.-Israeli war on Iran revives concerns about an energy supply shock exacerbating inflation.ING says the euro zone is the most exposed major economy to the conflict, making the region, which has benefited from investor diversification out of U…
Brent rose more than $3 on Tuesday for a third day of gains as the widening U.S.-Israeli conflict with Iran and threats to shipping via the Strait of Hormuz heightened fears of supply disruptions from the key Middle East producing region.Brent crude futures LCOc1 were at $80…
Qatar halted its production of liquefied natural gas on Monday as Israeli and U.S. strikes against Iran and Tehran's retaliation prompted precautionary shutdowns of oil and gas facilities across the Middle East.Saudi Arabia shut its biggest domestic oil refinery after a drone strike…
Oil surged 9% on Monday after retaliatory Iranian attacks disrupted shipping in the crucial Strait of Hormuz following the weekend's bombing by Israel and the United States that killed Iranian Supreme Leader Ali Khamenei.A sustained jump in prices would threaten a global economic recovery…
The diplomatic route in Iran is now exhausted, as last night the United States and Israel attacked Iran, sharply escalating security risks for commercial shipping in the Persian Gulf and adjacent waters, prompting immediate operational and insurance repercussions across the global maritime sector…
Subscribe
