SED Energy Holdings and Ventura Offshore have signed a letter of intent for an all-share combination that would create an energy services group with about $1.3 billion in contracted revenue backlog and an implied pro forma equity value of approximately $1 billion.Under the proposed transaction, SED Energy Holdings would acquire 100% of Ventura Offshore's outstanding shares, with Ventura shareholders receiving up to 605 million new Energy Holdings shares…
Asia's crude oil industry has a good idea of how to end the current crisis created by the Iran conflict. But they also know their wish is unlikely to be granted and they are hunkering down for an extended disruption to supplies from the Middle East…
Petronas has awarded a production sharing contract for Malaysia's Estuary Cluster to Harvester Energy and handed over enhanced seismic data for the Mutiara Cluster to DIALOG Resources, advancing development of discovered oil and gas resources in two Malaysian basins…
The American Bureau of Shipping (ABS) has issued basic design review certification to Hanwha Ocean for a standardized floating production, storage and offloading (FPSO) design targeting deepwater projects in South America and West Africa.The…
Larsen & Toubro Energy Hydrocarbon Offshore (LTEH Offshore) has secured an offshore Engineering, Procurement, Construction, Installation, and Commissioning (EPCIC) contract from India's Oil & Natural Gas Corporation (ONGC) for the Additional…
Eastern Mediterranean-focused gas producer Energean posted a 45% jump in first-half profit on Wednesday, helped by a lower tax charge in Italy, and said production had recovered strongly following the restart of operations in Israel.The company…
Italian energy services firm Saipem has secured a contract from GOE Petrol Sanayi for commissioning services on the Osman Gazi floating production unit (FPU), destined for the Sakarya gas field development in the Turkish Black Sea.The contract…
Oil prices hit multi-week highs on Tuesday after Iran-backed Houthis attacked Saudi energy facilities and Tehran threatened the United States with 'economic warfare'.Brent crude futures LCOc1 were up $2.00, or 2.06%, at $99.00 a barrel by 0800 GMT…
Malaysia's state energy firm Petronas has signed an agreement with Iraya Energies to integrate agentic artificial intelligence capabilities into its myPROdata upstream data platform, aiming to accelerate the evaluation of exploration and production opportunities in Malaysia…
Thailand’s state-backed energy firm PTT Exploration and Production (PTTEP) subsidiaries and Petronas Carigali's PC JDA have signed a 35-year production sharing contract for Block A-18-01 in the Malaysia-Thailand Joint Development Area, allowing the partners to continue petroleum exploration…
Iran is preparing a list of conditions for reopening the Strait of Hormuz after mediators asked Tehran to set them out, said Mohsen Rezaei, secretary of Iran's Supreme National Security Council, adding that ending the regional war was among them…
Technip Energies has been awarded a significant contract by Larsen & Toubro Energy Hydrocarbon (LTEH) to provide detailed engineering services for an ADNOC Offshore project in the United Arab Emirates.The project was awarded by ADNOC Offshore to a consortium led by LTEH and covers the engineering…
Singapore's Seatrium is preparing for the sailaway of two floating production, storage and offloading (FPSO) units for Brazil's Petrobras, with the P-80 and P-82 vessels scheduled to depart within weeks of each other.The two vessels were marked…
Shipping traffic at the Strait of Hormuz rose slightly even as a standoff persisted between the United States and Iran, data showed on Thursday, while the market monitored Iran-Oman talks about the waterway.Visible commodity vessel transits at Hormuz totalled 10 on Wednesday…
Chinese offshore oil and gas major CNOOC posted a record first-half net profit on Wednesday, as higher oil prices driven by the Iran war and rising production boosted earnings.Net profit attributable to shareholders rose 23.4% to 85.8 billion yuan ($12…
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