Qatar LNG Halt Forces Asia to Seek Alternative Supplies
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.Government officials and company executives in Japan, Taiwan, Bangladesh and Pakistan said they did not expect an immediate impact as some cargoes due this month had already arrived, but they would diversify their import…
China Looks Best Placed to Weather Iran Energy Shock
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, with China's vast stockpile of crude a cushion against price spikes, meaning that any energy-led inflation in the rest of the world will not hit China.It is also possible that China's refiners could reap windfall profits in the event of a prolonged disruption to crude supplies from the Middle East, by ramping up exports of refined products.If Asia's export
Europe Under Pressure as Gas Prices Climb Over 50% on Israel-US and Iran War
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.S. assets, vulnerable to setbacks.Not Good, But 2022 Was WorseThe jump in oil and gas prices evokes memories of Russia's invasion of Ukraine in 2022, which triggered a global energy crunch and hit Europe particularly hard.Since Friday…
Oil Price Soars as US-Israel War with Iran Raises Supply Fears
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 $80.89 a barrel, up $3.15, or 4.1%, by 0745 GMT. On Monday, the contract surged to as high as $82.37, its highest since January 2025, though it pared those gains to settle 6.7% higher.U.S. West Texas Intermediate crude CLc1 climbed $2.55, or 3.6%, to $73.78 a barrel.
US DOE Green Light Set to Make Corpus Christi Second Largest US LNG Scheme
The U.S. Department of Energy (DOE) has approved a 12% expansion in exports at Cheniere Energy’s Corpus Christi liquefied natural gas (LNG) terminal in Texas, authorizing additional shipments to non-free trade agreement countries.U.S. Secretary of Energy Chris Wright signed the order allowing exports of up to 0.47 billion cubic feet per day (Bcf/d) of natural gas as LNG from Trains 8 and 9 of the Corpus Christi Stage 3 Project, known as the Midscale Trains 8 & 9 Project.With the latest approval…
Seatrium Delivers Next-Gen WTIV Newbuild to Maersk Offshore Wind
Singapore-based Seatrium has delivered a next-generation wind turbine installation vessel (WTIV) to Maersk Offshore Wind, following the completion of sea trials and final readiness evaluations.The custom-engineered vessel is designed to install 15+ MW-class offshore wind turbines and is equipped with a 1,900-tonne main crane featuring a 180-metre hook height.The construction program included heavy-lift operations, full system integration and validation by international classification…
German Shipowner Buys Two Multi-Purpose Vessels
Germany’s Ernst Russ has acquired two multi-purpose vessels, MV Ronnie and MV Charlie, as part of its long-term fleet strategy to expand exposure to the project cargo segment and strengthen predictable earnings.The Hamburg-based shipowner said both vessels have been fixed on seven-year charters to dship Carriers, a globally operating European company specialized in project cargo, providing long-term employment and improved cash flow visibility.The vessels, scheduled for handover in the first quarter of 2026…
Eidesvik Offshore’s PSV to Stay a Little Longer with Aker BP
Norwegian oil and gas company Aker BP has extended a contract for Eidesvik Offshore’s platform supply vessel (PSV) Viking Prince.The firm period for the PSV has been extended with approximately two months, and will run to end of April 2026. No additional details about the contract were disclosed.Viking Prince is a 2012-built platform supply vessel (PSV), with a deck area of around 1 050 m2.The 89.6 meters-long, liquified natural gas (LNG)-fueled vessel was upgraded to battery hybrid system and a shore power system in January 2022.
Boskalis, TKF Ink Baltic Offshore Wind Cable Installation Deal
Dutch offshore services provider Boskalis, in consortium with TKF Subsea Solutions, has signed a contract with OWP Gennaker, as developed by Skyborn Renewables, for the supply and installation of inter-array cables for the Gennaker offshore wind farm in the German Baltic Sea.The contract for around 140 kilometers of 66 kilovolt inter-array cables has been classified by Boskalis as sizable, carrying a value between $58 million and $177 million (€50 million and €150 million).Under the agreement…
OceanTools Celebrates Recent Project Successes
OceanTools is celebrating two projects that highlight their engineering expertise and versatility. From designing subsea pressure housings for a well-known space technology company to creating solutions for the world’s deepest oceans, their housings deliver reliability and resilience in the most extreme environments.A major U.S. space technology company approached OceanTools with detailed specifications, and they designed and built a highly intricate pressure vessel to meet their requirements.
Kongsberg Maritime to Equip LS Marine’s Ultra-Large Cable Lay Vessel
Kongsberg Maritime has been selected to supply a fully integrated equipment package for a next-generation ultra-large cable laying (CLV) vessel being built for LS Marine Solution at Tersan Shipyard in Türkiye.The vessel, designed to support growing global demand for subsea high-voltage direct current (HVDC) and optical cable installation, will be 148.4 meters long and 31 meters wide, with a cable carrying capacity of 13,000 tonnes and total displacement of 18,800 tonnes.It is…
Shell, METLEN Sign LNG Supply and Trading Deal
Shell and Greece’s METLEN have signed a memorandum of understanding (MoU) to establish a framework for cooperation in the supply and trading of liquefied natural gas (LNG).Under the agreement, the two companies plan to supply and trade approximately 0.5 to 1.0 billion cubic metres (bcm) of LNG per year over the five-year period from 2027 to 2031.Deliveries are expected to be made to the Greek LNG regasification terminals at Revithoussa and Alexandroupolis.The MoU also envisages…
AKOFS Offshore Inks New Vessel Deal with Petrobras
Norway-based subsea well intervention and installation services company AKOFS Offshore has signed a firm contract with Petrobras for its Aker Wayfarer vessel.AKOFS Offshore, majority owned by Akastor, said the 2010-built vessel will continue to perform services as a Subsea Equipment Support Vessel (SESV) for Petrobras in Brazil.The contract, valued at $330 million, has a duration of four years, with operations expected to begin in September 2027, following the expiry of the current…
SeaBird Exploration Nets Contract Extension for Seismic Survey Vessel
Norwegian marine seismic survey services firm SeaBird Exploration, part of SED Energy Holdings, has secured a contract extension for its Fulmar Explorer seismic survey vessel.SeaBird Exploration has signed a three-month contract extension for ocean bottom node (OBN) source work for the vessel in the Western Hemisphere.This extension now commits the 2009-built vessel through mid-June 2026, maintaining the same commercial terms as the original agreement, the company said.The name of the client or the value of the contract extension has not been disclosed.
Seatrium Targets $40M Cost Savings in Continued Divestment Drive
Seatrium has put in motion a series of non-core asset divestments set to complete by early 2026, targeting over $40 million (S$50 million) in annualized operational cost savings.The Singapore-based offshore and marine group said the savings will follow recent divestments of the AmFELS yard in Texas and the GNL Platform Supply Vessels disclosed in 2025, alongside additional transactions earlier.The company said the divestments form part of its strategy to rationalize non-core assets…
GLO Marine to Invest $7M in New Vessel Retrofit Hub in Romania
Retrofit specialist GLO Marine has announced a $7 million (€6 million) investment in a new integrated assembly and production facility in Galați, Romania, as it seeks to expand its end-to-end vessel upgrade and decarbonization capabilities.The new facility will allow the company to engineer, fabricate, pre-assemble and integrate complex retrofit systems under a coordinated delivery model. Construction is underway, with completion scheduled by the end of the year and production set to begin in February 2027.The project is expected to create around 40 skilled technical roles…
DOF Group ASA Awarded Contract in Argentina
DOF Group ASA announced the award of a substantial contract for a project in Argentina. The project is scheduled for offshore operations across two campaigns in Q2 and Q3-Q4 of 2026 and will encompass mooring pre-lay, pipeline end manifold installation/construction management, tie-in spools installation, hook-up and pre-commissioning of two CALM buoys, and diving services. DOF will utilize Skandi Hera and Skandi Patagonia for the project with an expected combined duration of more than 250 days.Preparations are underway…
Trump Calls Out California, UK Energy Deal
President Donald Trump denounced a clean energy agreement between the United Kingdom and California Governor Gavin Newsom hours after it was signed on Monday, Politico reported.In an interview with the outlet, Trump said it was "inappropriate" for Britain to be dealing with the Democratic governor. Trump, a Republican, also branded Newsom "a loser," saying "his state has gone to hell, and his environmental work is a disaster.”Newsom is an outspoken Trump critic and has publicly…
Trinidad Hopeful for Offshore Gas Projects with Venezuela
Trinidad and Tobago's government is optimistic two flagship offshore gas projects with neighboring Venezuela to be operated by Shell, BP and Trinidad's National Gas Company will move forward amid political changes in the OPEC country, the energy minister of the twin-island nation said on Wednesday.The U.S. has been relaxing sanctions on Venezuela's energy industry as part of an ambitious $100 billion reconstruction plan since U.S. forces captured President Nicolas Maduro last month.
BOEM Proposes BBG3, Third Gulf of America Lease Sale
The Bureau of Ocean Energy Management announced a Proposed Notice of Sale for the third offshore oil and gas lease sale under the One Big Beautiful Bill Act. The proposed lease sale, known as Lease Sale Big Beautiful Gulf 3, or BBG3, is scheduled to take place on Aug. 12, 2026.This sale is the third of 30 Gulf of America oil and gas lease sales required by the One Big Beautiful Bill Act (Public Law No: 119-21). By committing to a predictable sale schedule, the Department is delivering on President Trump’s promise to expand American energy production and strengthen U.S. energy dominance.
BOEM Proposes Regulation Revision to Support Mineral Exploration
The Bureau of Ocean Energy Management announced proposed revisions to its regulations governing hard mineral resources on the U.S. Outer Continental Shelf aiming to advance exploration and development of critical minerals essential to national security, economic competitiveness and technological progress.These proposed updates align with Executive Orders 14285 and 14154, which prioritize unleashing America’s potential to explore and develop OCS critical mineral resources. The updates also support Executive Order 14192…
Nam Cheong Hooks $64.5M Deal to Build Four OSVs
Malaysia-based offshore support vessel (OSV) builder Nam Cheong has secured shipbuilding contracts worth $64.5 million from a UAE-based global energy maritime logistics company for the construction of four offshore support vessels, marking its first newbuild contract win in over a decade.The order comprises two dive support vessels (DSVs) and two 60-meter remote operated landing crafts (ROLC), with deliveries scheduled between the second half of 2027 and early 2028. All four vessels will be constructed at Nam Cheong’s Miri Yard in Sarawak…
BOEM Reaffirms Gulf Lease Sales 259 and 261
The Bureau of Ocean Energy announced a Record of Decision reaffirming its prior decisions regarding Gulf of America’s Outer Continental Shelf Oil and Gas Lease Sales 259 and 261. This ROD supports BOEM’s continued commitment to responsible offshore energy development while strengthening environmental safeguards and legal compliance.This decision follows the August 29, 2025, publication of the Final Programmatic Environmental Impact Statement for Gulf of America Regional OCS Oil and Gas Lease Sales and Post-Lease Activities.
