Offshore drilling contractor Seadrill has secured new drilling contracts and extensions covering four rigs offshore Indonesia, Malaysia, Angola and in the U.S. Gulf.In Indonesia, West Carina drillship has been awarded a contract with an undisclosed operator for an estimated firm duration of 880 days, with operations expected to begin in the first half of 2027.The contract is valued at approximately $420 million for the firm period…
Oil markets initially treated the Iran war as a brief bullish disruption in a long-term bearish trend. But traders are now betting that oil prices will remain elevated through 2028, forcing a rethink of the global inflation outlook.Eight months into the war…
Oil prices oscillated on Monday as the market considered possible further supplies after US President Donald Trump hailed fresh Russian diesel exports against supply-constricting signals after major attacks on Saudi Arabia.Retracing earlier losses…
Santos has agreed key commercial terms for a 10-year LNG supply deal with POSCO Steel and separately signed a non-binding agreement to buy about 1 million tonnes per annum of LNG from Canada's proposed Ksi Lisims project for up to 20 years.Under the proposed POSCO agreement…
BC Ventures, a 50/50 joint venture between Borr Drilling and its long-term well construction partner in Mexico, has completed the previously announced acquisition of five premium jack-up drilling rigs from Fontis Finance for $287 million, expanding…
The possible collapse of U.S.-Iran peace talks and the stop-start flow of tankers through the Strait of Hormuz are a nightmare scenario for Gulf nations desperate to return to normal after a bruising multi-month conflict.What was meant to mark…
Oil prices gained more than 3% on Wednesday after Iran and the U.S. military traded airstrikes and Washington reimposed crude sales sanctions on Tehran, raising fears their fragile truce was unravelling and Middle East supplies could be disrupted again…
Oil rose on Tuesday as traders' nervousness about a lack of progress on peace talks between the United States and Iran offset any price impact of a slight recovery in shipping through the Strait of Hormuz.Brent crude futures LCOc1 gained $1…
Vulnerable countries that paid a high economic price during the Iran war are seeking to build domestic oil and gas storage buffers against future shocks, a drive that could bring roughly half a billion barrels of additional demand down the pike…
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…
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…
Abu Dhabi National Oil Company is exploring opportunities in Canada's upstream and liquefied natural gas sectors through its international arm XRG, a senior company executive said on Tuesday at the Global Energy Show in Calgary.Musabbeh Al Kaabi…
SBM Offshore has entered into a shareholders' agreement with long-standing business partner NYK to divest a 45% ownership interest in the special purpose companies related to the lease and operation of the Chalchi floating storage and offloading (FSO) unit…
Oil prices trended lower on Tuesday following the previous session's sharp gains as the market remained cautious about progress in U.S.-Iran peace talks.U.S. President Donald Trump said on Monday talks with Iran were ongoing, while Tasnim news…
The U.S.-Israeli war with Iran has already cost companies around the world at least $25 billion - and the bill is climbing, according to a Reuters analysis.A review of corporate statements since the start of the conflict by companies listed in the United States…
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