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…
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…
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…
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…
Yinson Production has secured a $131.5 million senior secured bank financing facility together with joint venture partner PTSC for a floating storage offloading (FSO) vessel being built for the Block B gas project offshore Vietnam.The company said the facility…
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…
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…
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…
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…
Gulf Marine Services on Friday reported a 24% fall in first-quarter profit after the UAE-based firm was instructed to evacuate four vessels from a Gulf Cooperation Council country in March as a precautionary measure due to the Iran War.U.S.-Israeli strikes on Iran…
The changing global bottom-fixed offshore wind turbine and foundation installation marketThe last two or three years have seen a change in the underlying stakeholder support for the energy transition, resulting in the energy trilemma being focused…
Canada-based oil and gas company Valeura Energy has signed an agreement with Shelf Drilling to chart the Shelf Drilling Enterprise jack-up rig for a three-year term through the end of 2029.The rig, owned by Shelf Drilling (Southeast Asia), a subsidiary of ADES Holding Company…
Oil prices jumped on Wednesday with Brent trading above $100 a barrel, erasing earlier losses following reports of gunfire attacks on at least three container ships in the Strait of Hormuz.Brent crude futures LCOc1 were up $1.59, or 1.6%, at $100…
Oil prices surged on Monday as the U.S. moved to impose a blockade on Iranian shipping after the collapse of weekend peace talks, while the dollar rose and stocks and bonds fell.The U.S. move, aimed at putting pressure on Tehran, leaves a fragile…
Producers in the Middle East have asked Asian refiners to submit crude oil loading programmes for April and May in preparation for the eventual resumption of shipping through the Strait of Hormuz, three sources with knowledge of the matter said…
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week
