Saudi Arabia’s drilling contractor Arabian Drilling has informed that some of its offshore rigs in the Persian Gulf have been temporarily suspended as a precautionary measure amid ongoing regional tensions, while its land operations remain unaffected.The company said it received notifications for the suspension of certain offshore rigs in coordination with clients and stakeholders, in line with its safety and operational protocols prioritizing personnel and asset protection…
ADNOC Drilling has completed its acquisition of an 80% stake in MB Petroleum Services (MBPS), forming a joint venture that expands its presence across Gulf markets and increases its total fleet to 170 rigs.The transaction, completed ahead of schedule…
Thailand on Tuesday unilaterally terminated a longstanding agreement with Cambodia to work towards joint offshore energy exploration, defying calls from its neighbour to stay the course on the 25-year-old pact.The Thai cabinet's cancellation of the agreement…
Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume.The news capped weeks of market volatility and geopolitical upheaval after U…
The United Arab Emirates has told the U.S. and other Western allies it would participate in a multinational maritime taskforce to reopen the Strait of Hormuz, the Financial Times reported on Friday, citing people familiar with the matter.The…
The U.S. military is deploying a large amphibious assault ship with thousands of additional Marines and sailors to the Middle East, three U.S. officials told Reuters on Friday, as Iran's new supreme leader hailed Iran's 'unity' and 'resistance'…
Vietnam's domestic crude oil production is expected to decline this decade, according to a government document released this week, increasing the country's reliance on imports as its offshore fields mature and geopolitical tensions threaten global supplies…
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