Britain's Serica Energy reported a 50% fall in annual pretax profit on Thursday, hurt by lower production due to outages at the Triton floating production storage and offloading vessel and higher operating costs.Serica is moving to offset operational…
The European Union may be forced to scale back its flagship climate policies and geopolitical aims as the Iran war drives up energy prices - with lasting consequences for the bloc's energy strategy.The energy crunch sparked by the conflict, now in its fourth week…
The Iran war is upending the global LNG outlook as soaring prices, damage to major supplier Qatar's export infrastructure and potential delays to new supply raise doubts about previously expected demand from price-sensitive Asian buyers.Before the war…
Oil rose about 2% on Thursday, clawing back losses from the previous session on concerns that protracted fighting in the Middle East will further disrupt energy flows.Brent futures LCOc1 rose $2.08, or 2.03%, to $104.30 a barrel by 0638 GMT…
Oil producer Capricorn Energy swung to an annual pre-tax loss on Thursday, after it took a $10.6 million impairment charge for its Egyptian joint venture.The Egypt-focused firm took the charge after an assessment of its Alam El Shawish West JV with Cheiron Oil & Gas showed reduced future production…
Shipbuilder Damen and Windcat, part of maritime group CMB.TECH, have launched the Windcat Amsterdam, marking the arrival of the first Elevation series commissioning service operation vessel (CSOV) in European waters.The vessel was developed…
GeoForce Technical Services, part of Oceanscan and Venterra Group, has been selected by Reach Subsea to deliver geotechnical survey work for the Shetland HVDC Link 2 project, a subsea power connection aimed at strengthening Britain’s electricity transmission network…
Mark Offshore has agreed with Klaipėda University to operate the research vessel Mintis, expanding its fleet and strengthening its position in offshore renewables and subsea support services.Under the agreement, the Lithuanian university has…
Vestas has announced plans to build a nacelle and hub assembly factory in Scotland to support growing offshore wind demand in the U.K. and Europe.The proposed facility, with an investment exceeding $290 million, would manufacture nacelles and hubs for the company’s V236-15…
ScottishPower, through its parent company Iberdrola, has secured $800 million (£600 million) in financing from the UK’s National Wealth Fund to support the development of the Eastern Green Link 4 (EGL4) subsea power project.EGL4 is a planned…
Norwegian oil and gas firm OKEA has increased recoverable resource estimates for the Talisker West discovery at the Brage field in the North Sea following further subsurface evaluation.The company said P50 recoverable resources in the Talisker…
DOF Group has been awarded a contract by Norway’s transmission system operator Statnett for the replacement of high-voltage subsea power cables in Ofotfjorden, northern Norway.The contract, classified by DOF as substantial with a value between $25 million and $50 million…
North Sea-focussed oil producer EnQuest maintained its 2026 production outlook on Wednesday, banking on investments in Britain and South East Asia, after Britain's windfall levies hit last year's post-tax profit.Like its rivals, EnQuestcontinues to face challenges from the UK's Energy Profits Levy…
Oil prices sank about 4% on Wednesday after reports the United States had sent Iran a 15-point proposal aimed at ending the war in the Middle East, raising prospects of a ceasefire that could ease supply disruptions in the region.Brent crude futures LCOc1 fell $4…
Adura Energy, a joint venture between Shell and Equinor, has signed a $3 billion reserve-based lending (RBL) facility to support its future growth and energy supply ambitions in the United Kingdom.The seven-year, senior-secured facility is Adura’s…
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