Oil And Gas News

Petronas LNG (PLL) has signed a 20-year time charter agreement with MISC Group for five newbuild liquefied natural gas (LNG) carriers as the Malaysian energy company strengthens long-term LNG supply capacity.The agreement covers five 174,000-cubic meter LNG carriers that will be built by Hudong-Zhonghua Shipbuilding in Shanghai, China, with charter commencements expected between 2029 and 2030.The vessels will feature XDF2.1 propulsion technology, shaft generators and onboard reliquefaction…

Global oil supply will not meet total demand this year as the Iran war wreaks havoc on Middle East oil production, the International Energy Agency said in its monthly oil market report on Wednesday."With Hormuz tanker traffic still restricted, cumulative supply losses from Gulf producers already exceed 1 billion barrels with more than 14 million (barrels per day) of oil now shut in, an unprecedented supply shock," the agency said.Its base-case forecast is for a gradual resumption of traffic through the Strait of Hormuz from the third quarter onwards…

Both Iraq and Pakistan have cut deals with Iran to ship oil and liquefied natural gas from the Gulf, according to five sources with knowledge of the matter, in a demonstration of Tehran's ability to control energy flows through the Strait of Hormuz.The U.S.-Israeli war with Iran has slashed energy exports from a region that normally supplies 20% of the world's crude oil and LNG. The U.S. has blockaded Iranian ports in recent weeks. And though Iran initially sought to halt traffic through the strait…

Dutch non-destructive testing specialist Ned Marine has launched drone and remotely operated vehicle (ROV)-based inspection services aimed at vessels, offshore installations and industrial assets.The company said the new services combine aerial drones and subsea ROVs with existing non-destructive testing (NDT) capabilities, including visual inspections and ultrasonic thickness measurements.Ned Marine said drone-based inspections would allow surveys of confined spaces, offshore and onshore wind turbines…

Offshore infrastructure services provider North Star has secured a multi-million-dollar pipeline of emergency response and rescue vessel (ERRV) contracts covering 17 vessels operating in the North Sea.The awards, comprising new contracts and extensions, represent around 50 years of combined contract duration, the company said.North Star said the contracts were secured through competitive tenders and renewals with offshore energy operators across the UK Continental Shelf.The company…

Fast Offshore Supply (FOS) has selected Incat Crowther to design a fleet of 10 new DP2 fast crew transfer vessels (CTVs) for offshore operations supporting Brunei Shell Petroleum, a joint venture between Shell and the Government of Brunei.The 55-metre aluminum vessels will transport offshore personnel and cargo to Brunei Shell Petroleum assets and will be built at multiple shipyards in the region, including FOS’s own yard in Singapore.The vessels will each carry up to 80 passengers and 150 tonnes of cargo at speeds of up to 30 knots…

Equinor-operated Gullfaks field in the North Sea has delivered its 5,000th oil cargo, underscoring the continued role of mature Norwegian offshore fields in supplying energy to Europe.Production at Gullfaks began in 1986 and the field has since produced around 2.8 billion barrels of oil equivalent, nearly double the original estimate, the company said.The field currently exports oil to refineries in countries including Sweden, the United Kingdom and Poland, while also serving as an export hub for production from the Snorre and Visund fields and nearby subsea developments.“Reaching 5…

The U.S. Coast Guard and partners responded to a fire onboard a non-operational natural gas platform offshore Santa Barbara, California, on Monday.At 6:30 a.m. a fire occurred aboard platform Habitat when platform personnel were conducting decommissioning operations for the platform.Platform Habitat, a non-oil producing platform, is located approximately 8 miles southwest of Santa Barbara.Responders and platform personnel reported that the fire was extinguished at 11:40 a.m.There…

New Wave Offshore Energy has been selected by Shell to provide marine warranty survey services for the Orca project in Brazil’s pre-salt Santos Basin.The contract covers marine warranty and assurance services for the offshore development, which is estimated to contain recoverable resources of about 370 million barrels.New Wave Offshore’s scope includes vessel surveys, engineering review and oversight of transportation and installation operations across multiple project phases.The…

Lloyd’s Register (LR) has granted an Approval in Principle (AiP) to Wison New Energies for a harsh-environment floating production storage and offloading (FPSO) design featuring an internal turret mooring system.The FPSO concept is aimed at offshore developments in demanding metocean conditions, where internal turret systems are commonly used but involve complex integration between hull, mooring, risers and topside systems.LR said the concept-stage review helps reduce technical…

UTC Overseas and Transoceanic Development have launched UTC Transoceanic (UTC Transo), a joint venture aimed at supporting the growing logistics needs of energy, power and industrial infrastructure projects along the U.S. Gulf Coast.Headquartered in New Orleans, the venture combines UTC Overseas’ project logistics and customs brokerage operations with Transoceanic Development’s regional infrastructure and port expertise in Louisiana.The companies said UTC Transo would focus on logistics support for large-scale projects including LNG developments…

The Iran war has already led to a loss of about 120 billion cubic metres of global liquefied natural gas supply over the 2026 to 2030 period, Gergely Molnar, an analyst from the International Energy Agency, said on Thursday.Speaking at the Budapest LNG Summit, Molnar said the conflict was reshaping the medium-term gas outlook, with tighter market conditions likely to persist longer than previously expected.He said the crisis had cut LNG supply by around 15%, but a strong increase in new liquefaction capacity was expected to offset lost volumes from Qatar and the United Arab Emirates.Iranian at

DOF Group has secured four 12-year charter and services contracts in Brazil following a competitive tender process, supporting Petrobras’ deepwater subsea inspection, maintenance and repair operations.The contracts will lead to the construction of four new remotely operated vehicle support vessels (RSVs), with operations expected to begin from 2030, DOF said.The vessels are expected to be built by Brazil’s Navship yard, with delivery of the first two planned within four years of contract signing.The newbuilds will be DP2-class vessels designed for deepwater operations…

Brent crude futures retreated on Tuesday but held near $114 a barrel following fresh hostilities in the Middle East, while investors monitored developments in the U.S.-Israeli conflict with Iran.The U.S. and Iran launched new attacks in the Gulf on Monday as they wrestled for control over the Strait of Hormuz with duelling maritime blockades, shaking a fragile truce.Brent crude futures LCOc1 eased 93 cents, or 0.8%, to $113.51 per barrel at 0719 GMT after settling up 5.8% on Monday. U.S.

Tidewater Inc. has announced a revenue drop for the three months ended March 31 of $326.2 million compared with $333.4 million for the three months ended March 31, 2025.Tidewater's net income for the three months ended March 31, 2026, was $6.1 million ($0.12 per common share), compared with net income of $42.7 million ($0.83 per common share) for the three months ended March 31, 2025.Quintin Kneen, Tidewater’s President and Chief Executive Officer, commented, “The first quarter of 2026 exceeded our expectations across all key financial and operational measures…

Guyana has asked judges at the International Court of Justice to rule that Venezuela does not have a legitimate claim on the potentially oil-rich region around the Esequibo river, which has been the subject of a dispute between the Latin American neighbours since colonial days."Facing a larger and more powerful neighbour's designs on our territory has not only threatened our peace and security, it has held back our development," Guyana's Foreign Minister Hugh Hilton Todd told judges at the start of week-long hearings at the ICJ…

Panama-flagged tanker Idemitsu Maru, carrying 2 million barrels of Saudi oil, crossed the Strait of Hormuz, LSEG shipping data showed on Tuesday, becoming the first Japan-linked crude tanker to do so since the Iran war began.Before the U.S.-Iran conflict broke out on February 28 and disrupted Middle East crude oil and liquefied natural gas supplies, Japan relied on the region for 95% of its oil imports, much of it coming via the Strait of Hormuz.The move comes as Japan's recent diplomatic efforts to safeguard energy supplies were disrupted by the war.Earlier in April…

Petrodec, a specialist in integrated solutions for decommissioning and part of the Dixstone group, has started its second decommissioning project for Perenco UK with its OBANA jack-up platform, moving to the Pickerill field in the UK Southern North Sea.The platform has mobilized from its yard in Vlissingen-Oost in the Netherlands and is now on location to remove the jackets from Pickerill A and Pickerill B.Following this work, OBANA is scheduled to return to the Amethyst field to remove the jacket of Amethyst A1D…

President Donald Trump's administration said on Monday that it had reached a deal to end two more U.S. offshore wind leases in exchange for $885 million in pledged investments in domestic fossil fuels.The projects, one in the Atlantic and one in the Pacific, are managed by Ocean Winds, a joint venture between France's ENGIE and Portugal's EDP Renewables.The announcement comes a month after French energy giant TotalEnergies reached a similar agreement with the Interior Department to redirect $1 billion from offshore wind leases to U.S. oil and gas production.

Helix Energy Solutions and Hornbeck Offshore Services have agreed to combine in an all-stock transaction to create an integrated offshore services company.Under the agreement, Hornbeck shareholders will own about 55% of the combined company, while Helix shareholders will hold around 45%.The combined company will operate under the Hornbeck Offshore Services name and trade on the New York Stock Exchange under the ticker ‘HOS’.The companies said the combination will bring together fleets of specialty vessels and capabilities including subsea robotics and well intervention services…

Golden Pass LNG, a joint venture between QatarEnergy and ExxonMobil, has loaded and shipped its first liquefied natural gas (LNG) cargo from its export terminal in Sabine Pass in Texas, marking a step toward full commercial operations.Golden Pass LNG expects to export about 18 million tonnes of LNG per year once the terminal is fully operational.Construction and commissioning of additional liquefaction trains are ongoing, with Trains 2 and 3 expected to come online following stable operation of Train 1.“Today’s first LNG export cargo is a defining moment for Golden Pass…

The National Ocean Industries Association (NOIA) has released its sixth annual Offshore Energy Industry's Innovation & Workforce Excellence Report, a comprehensive publication showcasing how offshore energy companies are leading on environmental performance, workforce development, safety, and corporate responsibility.The 2026 report features case studies and highlights from NOIA member companies and partners, including Danos, Energy Education Foundation, Fugro, Medical Bridges…

Bureau Veritas Marine & Offshore has launched an Offshore Center of Excellence in Asia Pacific to support offshore energy projects.The center will combine regional teams in Singapore, Shanghai and Kuala Lumpur with the company’s global technical network to support oil and gas and offshore renewable energy developments.The initiative comes as offshore projects increase in scale and complexity, requiring coordinated expertise across multiple disciplines and supply chains.Bureau Veritas said the center will provide a single hub for services including classification…