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.Global benchmark Brent crude has so far averaged around $97 per barrel in March, up 33% from the $69 average in February and even more from $65 in January…
Russian Foreign Minister Sergei Lavrov said the U.S. has been seeking control over the Nord Stream gas pipelines in the Baltic Sea, which were damaged by mysterious blast in September 2022.Explosions that destroyed the pipelines more than three…
Maraen has approved plans for more than $40 million (£30 million) investment for the upgrades at the Port of Nigg, following the integration of three energy businesses under a new brand.Maraen combines the capabilities of Port of Nigg, Global Energy (Group) and Global Energy Services…
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…
The Iran war is upending the global LNG outlook as soaring prices, damage to major supplier Qatar's export infrastructure and potential delays to new supply raise doubts about previously expected demand from price-sensitive Asian buyers.Before the war…
Oil rose about 2% on Thursday, clawing back losses from the previous session on concerns that protracted fighting in the Middle East will further disrupt energy flows.Brent futures LCOc1 rose $2.08, or 2.03%, to $104.30 a barrel by 0638 GMT…
Baker Hughes has secured a contract to supply gas compression and power generation technology for ST LNG’s proposed 8.4 million tonnes per annum liquefied natural gas export terminal offshore Matagorda in Texas.Under the agreement, Baker Hughes…
Constellation Oil Services, an offshore oil and gas drilling services provider in Brazil, has reported adjusted EBITDA of $233 million for 2025, exceeding its initial guidance by 37%, driven by strong fleet utilization and improved contract economics…
Mark Offshore has agreed with Klaipėda University to operate the research vessel Mintis, expanding its fleet and strengthening its position in offshore renewables and subsea support services.Under the agreement, the Lithuanian university has…
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…
Iran has told the United Nations Security Council and the International Maritime Organization that 'non-hostile vessels' may transit the Strait of Hormuz if they coordinate with Iranian authorities, according to a note seen by Reuters on Tuesday…
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…
Dominion Energy has delivered first power to the grid from its Coastal Virginia Offshore Wind (CVOW) project, marking a key milestone for what is set to become the largest offshore wind development in the United States.Dominion Energy’s Chair…
Some of the world's top oil executives and energy ministers in Houston on Monday expressed growing concern over the long-term effects of the U.S.-Israel war with Iran on the global economy, while the U.S. Energy Secretary Chris Wright downplayed the crisis…
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