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World Oil News
At ARPEL 2026, industry leaders said Latin America’s biggest challenge is no longer resource availability, but building the infrastructure and regulatory certainty needed to turn that potential into reliable energy supply. Executives pointed to Vaca Muerta as a model for future regional growth. Source
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Returning for its fifth edition, LEES 2027 will advance Libya’s $18 billion energy pipeline, targeting 1.6–2 million bpd, gas megaprojects and renewables. Source
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BOURBON has appointed former Subsea7 executive Olivier Blaringhem as chief executive officer, effective Sept. 14, as the offshore services company continues fleet expansion and growth in key offshore markets including West Africa and Guyana. Source
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The Trump administration is opening sealed bids for nearly 690,000 acres in Alaska’s Arctic National Wildlife Refuge, setting up a key test of industry interest in one of North America’s most prospective—and politically contentious—oil and gas regions. Source
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The Energy NL Conference & Exhibition concluded with discussions focused on offshore development, energy security, regulatory certainty and Newfoundland and Labrador’s growing role in supplying energy to global markets. Source
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SBM Offshore plans to divest a 45% ownership stake in the FSO Chalchi project to NYK while retaining majority ownership. The floating storage and offloading vessel is being developed for Woodside’s Trion deepwater project offshore Mexico. Source
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MODEC and Eld Energy have signed an agreement to develop a 1.2-MW solid oxide fuel cell power system integrated with carbon capture technology for future FPSOs, with onshore testing targeted for 2029. Source
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India is seeking deeper energy ties with Venezuela, including expanded crude imports and potential upstream investment opportunities, as the Iran conflict and disruptions to Strait of Hormuz traffic drive efforts to diversify oil supplies. Source
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Expro has secured a contract extension of up to five years to provide subsea completion and intervention services in the U.S. Gulf, including deployment of its Solus shear-and-seal valve technology designed to enhance well integrity and operational safety. Source
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Velesto has secured a contract from Northern Gulf Petroleum to provide the NAGA 6 jackup rig for a drilling campaign in the Gulf of Thailand, including four infill wells and three exploration wells. Source
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