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A new engineering design and commercial advisory company focused on offshore wind, subsea transmission and marine infrastructure projects has launched in Ireland under the name of Insight Marine, targeting growing demand for specialist support across the global maritime sector.Headquartered in County Wicklow, Insight Marine has been established to provide engineering design, technical advisory and commercial services to offshore wind developers, transmission system operators, port owners…

Oil prices rose on Friday as the prospect of a lasting truce between the U.S. and Iran was clouded after peace talks in Switzerland were called off and as Israel stepped up attacks on Lebanon.By 0645 GMT, Brent crude futures LCOc1 gained 51 cents, or 0.64%, to $80.36 a barrel, and U.S. West Texas Intermediate crude CLc1 rose $1.28, or 1.7%, to $77.88 a barrel, with the front-month July contract expiring on Monday. Both contracts were headed for a weekly loss of about 8%.The more actively traded WTI August contract CLc2 was up 59 cents at $76.44 a barrel.Switzerland said U.S.

CORE POWER has launched a feasibility study to evaluate the use of BWX Technologies' mPower small modular reactor (SMR) technology in floating nuclear power plants designed to be built in shipyards and deployed near energy demand centers.The study will assess technical, regulatory and commercial pathways for integrating BWXT's mPower reactor design into floating nuclear facilities, the company said on Tuesday.The mPower reactor was originally developed as a Generation III+ integral…

U.S. liquefied natural gas producer (LNG) Venture Global and German utility EnBW have signed new binding agreements for the supply of approximately 0.82 million tonnes per annum (mtpa) of LNG over a period of about five years beginning in 2026.The LNG will be supplied from Venture Global's portfolio and adds to the companies' existing long-term sales and purchase agreements covering 2 mtpa over 20 years.The new agreements strengthen Venture Global's position as a supplier of LNG to Germany and Europe…

Middle East oil producers face a reckoning. The Iran war exposed the dangers of relying on a single chokepoint for vital oil and gas exports, leaving Gulf governments with a clear strategic imperative: diversify – at all costs.An Iranian blockade of the Strait of Hormuz had long been viewed as a “Doomsday” event that would never happen. Experts assumed it would require a massive military effort and that Tehran would be reluctant to choke off its own exports.Those assumptions were proven painfully wrong.

Oil prices fell by more than $2 per barrel on Thursday after the U.S. and Iran signed an interim agreement that would end the Iran war, reopen the Strait of Hormuz and waive U.S. sanctions on Tehran's oil, boosting the oil supply outlook.Brent crude futures LCOc1 were down $2.14, or 2.69%, at $77.41 a barrel as of 0616 GMT, and U.S. West Texas Intermediate CLc1 fell $2.36, or 3.07%, to $74.43 a barrel.Brent sank to its lowest since March 2, which was the first day of trading after the U.S.

Italian engineering, certification and consulting company RINA has secured a contract to provide safety assessment services for Indonesia's Green Hydrogen Hub Project H2WATT, a key initiative being developed by PLN Puslitbang, the research and development arm of state-owned utility PT PLN.The H2WATT project is aimed at supporting Indonesia's energy transition through the development of an integrated green hydrogen ecosystem and forms part of the country's broader efforts to build a low-carbon energy framework.Under the contract…

The world oil market will recover gradually from the closure of the Strait of Hormuz before tipping into a significant surplus in 2027, the International Energy Agency said in its monthly oil market report on Wednesday.The U.S. and Iran reached an agreement to end the three-month-old war, which includes Iran reopening the Strait of Hormuz and the U.S. lifting its naval blockade, potentially bringing an end to the largest oil supply disruption in history which shut in over 14 million barrels per day of Middle East oil output…

At least three tankers carrying Iranian oil have sailed through the U.S. naval blockade this week, with a fourth, an empty vessel, heading towards the Gulf of Oman, after the U.S. and Iran agreed a framework deal to reopen the strategic Strait of Hormuz, shipping data showed.The shipments indicate a gradual resumption of Iranian oil exports that are expected to add to global supplies although demand from China, its biggest buyer, has been lacklustre due to poor domestic margins.Very Large Crude Carriers Hero II and Diona…

Italy's business lobby Confindustria has called for emergency action from the government to speed up the roll-out of renewable energy in the country, which is grappling with much higher power costs than in most of Europe.The recent increase in gas prices triggered by the Iran war has highlighted the cost for Italian families and firms of the slow development of renewables, and sparked fresh calls for more decisive action to promote green policies.Confindustria President Emanuele…

Oslo-listed consultancy company ABL Group plans to change its name to Aqualis, seeking to eliminate confusion created by the use of ABL as both the name of the listed parent company and one of its operating businesses.The group provides marine, energy, engineering and technical consulting services to the renewables, maritime and oil and gas industries through a portfolio of specialist brands.Under the new structure, Aqualis will serve as the parent company, while the group's four operating brands will continue to operate independently.

Europe will require a dedicated fleet of around 65 CO2 carriers and a network of 33 ports by 2050 to support the large-scale deployment of carbon capture, utilization and storage (CCUS), according to a new study led by energy consultancy Xodus.The CCUS Enabling Infrastructure Study, prepared by Xodus on behalf of the Net Zero Technology Centre (NZTC) and supported by EBN, the Port of Rotterdam, Gasunie and Offshore Energies UK, examined the infrastructure needed to transport captured…

Gulf Marine Services (GMS) has retuned to service all four of its self-propelled, self-elevating support vessels that were temporarily evacuated from one Gulf country due to the prevailing geopolitical situation.The UAE-headquartered offshore support vessel operator said the fourth and final vessel has successfully resumed operations, restoring the affected fleet to full contracted utilization under its existing contracts.GMS maintained its adjusted EBITDA guidance for 2026 in the range of $105 million to $115 million…

Offshore services provider Bourbon has secured a multi-month subsea services contract for operations on the Jubilee field offshore Ghana, deploying the multi-purpose support vessel (MPSV) Bourbon Evolution 802 for a campaign covering inspection, maintenance and repair activities.The contract includes the use of the Bourbon Evolution 802, equipped with two work-class heavy-duty remotely operated vehicles (ROVs), to perform inspection, maintenance and repair (IMR) services on subsea wellheads…

AD Ports Group and offshore wind equipment manufacturer Dajin Heavy Industry have signed a memorandum of understanding (MoU) to explore cooperation in offshore wind supply chain development, maritime logistics, port infrastructure and strategic vessel investments.The agreement builds on AD Ports Group's recent expansion in the offshore renewable energy sector, including partnerships with Masdar, Siemens Energy and Green Parrot, as well as its acquisition of Spain's Balenciaga Astilleros shipyard…

Japanese shippers welcomed on Monday the U.S.-Iran peace agreement which will reopen the Strait of Hormuz but are awaiting more details of the deal and clearance of mines before allowing their ships to pass the chokepoint.According to the association, 38 Japanese-linked vessels remain stranded in the Strait of Hormuz.The U.S.-Israeli war with Iran that began on February 28 has largely stopped shipping through the strait, the transit route for roughly a fifth of the world's oil and liquefied natural gas supply…

Oil prices slipped to a three-month low on Monday after U.S. President Donald Trump and Iran's deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz.Brent crude futures LCOc1 fell $3.65, or 4.2%, to $83.68 a barrel by 0630 GMT and U.S. West Texas Intermediate CLc1 was at $80.75, down $4.13, or 4.9%. Both contracts fell to their lowest levels since March 10 on Monday after tumbling more than 3% on Friday.The U.S.

BP has started a process to sell stakes in two of its Gulf of America projects, four people with knowledge of the matter said, in what would be one of new CEO Meg O'Neill's first moves.BP, one of the largest operators in the Gulf of America, has been weighing a sale of minority stakes in the Kaskida and Tiber projects for more than a year, with each estimated to be worth billions of dollars to the company, Reuters has previously reported.The four people did not give the size of…

JERA has received its first liquefied natural gas (LNG) cargo from the Barossa gas project in Australia, marking the start of LNG deliveries from the offshore development to Japan's largest power generation company.The cargo arrived aboard the LNG carrier Sohshu Maru at JERA's Futtsu LNG terminal on June 12, following the start of production from the Barossa project in late 2025.Located offshore Australia's Northern Territory, the Barossa gas field supplies gas to the Darwin LNG facility for processing and export.

Oil prices fell more than 2% on Friday, extending losses from the previous session after U.S. President Donald Trump cancelled plans to strike Iran, reducing fears of an escalation of hostilities following tit-for-tat attacks earlier in the week.Brent futures LCOc1were down $2.11 or 2.3% at $88.27 a barrel by 0640 GMT, while U.S. West Texas Intermediate (WTI) CLc1 crude dropped $1.90, or 2.2%, to $85.81.Trump called off planned strikes on Thursday, saying discussions with Iran…

Three more liquefied natural gas tankers have exited the Strait of Hormuz with their transponders off and are bound for destinations in Asia, although the exact timing of their transit is unclear, ship-tracking data from LSEG and Kpler showed.This comes as the United States and Iran traded air attacks for a second straight day on Thursday, with U.S. President Donald Trump vowing further strikes unless Tehran agrees to a peace deal and Washington saying it fired on a vessel carrying…

The French energy ministry announced that it will open on Friday the long-awaited tenders for 10 gigawatts worth of offshore wind project, mainly located on France's westcoast.Some companies have scrapped their offshore wind development plans due to rising costs in some countries and political opposition, including that of the Trump administration.The new projects will significantly increase France's capacity for offshore wind, which it aims to grow from under 2GW to 15GW in 2035.

Siemens Energy on Thursday warned of possible wind turbine capacity cuts in Europe if governments fall behind in efforts to expand offshore power, saying a lack of determination could become an "existential threat" to the industry.The comments by one of Europe's biggest industrial firms reflect growing concerns about the future of the continent's manufacturing capabilities, which have come under intense pressure from high energy costs and Asian competitors.Europe is currently facing delays in its offshore expansion, hampered by regulatory challenges that have caused some developers to rethink