TotalEnergies has completed the merger of its U.K. upstream oil and gas business with NEO NEXT, creating a new company named NEO NEXT+ and taking a 47.5% stake in the combined entity.The deal establishes NEO NEXT+ as the largest independent oil and gas producer on the U.K. Continental Shelf, with expected output of more than 250,000 barrels of oil equivalent per day in 2026.The transaction combines TotalEnergies’ U…
Oil companies will have to look further afield for new fossil fuel resources now that the Iran war has dented the investment allure of the energy-rich Middle East. Higher oil prices will give them that chance.Major international oil companies…
Oil prices extended gains on Monday, with Brent headed for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the weekend, widening the U.S.-Israel war with Iran in the Middle East.Brent crude futures LCOc1 jumped $3…
As Big Oil executives gathered this week and discussed the biggest-ever disruption to global energy supplies due to the war in Iran, there was one impact they did not address publicly: the multibillion-dollar windfall they will make because of soaring prices for the energy they sell…
A powerful tropical cyclone in Western Australia has disrupted production at the country’s two biggest liquefied natural gas plants run by Chevron and Woodside, exacerbating a global supply crunch caused by the conflict in the Middle East.Australia…
Mubadala Energy has been awarded the Southwest Andaman exploration Production Sharing Contract in Indonesia, expanding its position in the Andaman Sea.The Abu Dhabi-based company will hold a 100% participating interest and operate the block…
Thermoplastic composite pipe (TCP) manufacturer Strohm has secured a contract to supply insulated production jumpers for an offshore field extension project in Malaysia.The scope includes two carbon fibre PA12 thermoplastic composite pipe production jumpers with a 7-inch internal diameter…
The European Union may be forced to scale back its flagship climate policies and geopolitical aims as the Iran war drives up energy prices - with lasting consequences for the bloc's energy strategy.The energy crunch sparked by the conflict, now in its fourth week…
War in the Middle East has triggered severe global supply disruptions in oil and gas, with reported damage and shutdowns affecting liquefied natural gas (LNG) trains, refineries, fuel terminals and critical gas-to-liquids facilities across the region…
Saudi Arabian oil and gas drilling contractor ADES International Holding has reported it expects 44% rise in its core earnings in 2026, despite having several of its offshore rigs in the Gulf region temporarily suspended due to ongoing regional tensions…
Vestas has announced plans to build a nacelle and hub assembly factory in Scotland to support growing offshore wind demand in the U.K. and Europe.The proposed facility, with an investment exceeding $290 million, would manufacture nacelles and hubs for the company’s V236-15…
Oil prices sank about 4% on Wednesday after reports the United States had sent Iran a 15-point proposal aimed at ending the war in the Middle East, raising prospects of a ceasefire that could ease supply disruptions in the region.Brent crude futures LCOc1 fell $4…
At least three Danish institutional investors support a shareholder resolution urging Nordea, the Nordic region's biggest bank, to stop financing companies expanding Arctic oil and gas production due to environmental risks.Pension funds Akademiker…
Norway's Equinor has begun drilling producer and injector wells for its offshore Raia natural gas project in Brazil, while also planning fresh exploratory activities in the South American nation, its top executive in the country told Reuters…
Oil prices rose on Tuesday on supply fear, as Iran denied it had talks with the United States to end the war in the Gulf, contradicting U.S. President Donald Trump who said a deal could be reached soon.Brent futures LCOc1 rose $2.89, or 2.9%…
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