BP and Japan’s JERA are winding down their U.S. offshore wind joint venture, JERA Nex bp, citing an unfavorable policy environment under the Trump administration. The decision halts the planned 2.5-GW Beacon Wind project off Massachusetts amid a broader industry pullback. SourceContinue Reading

Brazil’s latest oil auction signaled a revival in offshore exploration, with Petrobras, Equinor, and Chinese firms among the winners. The pre-salt round saw five of seven blocks awarded, underscoring renewed deepwater interest despite soft crude prices and cautious global spending. SourceContinue Reading

The U.S. Department of Energy has issued the final non-FTA export authorization for Venture Global’s CP2 LNG terminal in Cameron Parish, Louisiana. The approval enables exports to non-FTA countries and supports the U.S.’s advancing role in global LNG markets. SourceContinue Reading

U.S. oil and gas mergers and acquisitions dropped to $9.7 billion in Q3 2025, marking the third straight quarterly decline, according to Enverus Intelligence Research. Analysts cite persistently low crude prices and fewer private-equity exits. SourceContinue Reading

Aker BP reported strong results with 414,000 boed production, robust cash flow, and a major Omega Alfa discovery in Norway’s Yggdrasil area. The find ranks among the largest on the Norwegian Continental Shelf in a decade and supports long-term offshore growth. SourceContinue Reading

Shell has appealed a South African court ruling that overturned the environmental permit for offshore Block 5/6/7, a key exploration license once held by TotalEnergies. The case highlights growing tension between energy investment and environmental opposition. SourceContinue Reading

The Trump administration will purchase 1 MMbbl of crude oil to begin replenishing the U.S. Strategic Petroleum Reserve (SPR), marking the first step toward restoring the nation’s emergency supply following years of drawdowns. SourceContinue Reading

The Trump administration will purchase 1 million barrels of crude oil to begin replenishing the U.S. Strategic Petroleum Reserve (SPR), marking the first step toward restoring the nation’s emergency supply following years of drawdowns. SourceContinue Reading

A consortium led by DeepOcean — including TotalEnergies, Equinor, Aker BP, Tenaris, and LS Cable & System — has developed FlowHeat, a subsea pipeline heating system that reduces installation costs by 35% and emissions by 30%, extending tieback reach to 30–50 km in deepwater projects. SourceContinue Reading

Kent has been awarded the FEED contract by Al-Khafji Joint Operations (KJO) for the Khafji Desalter and Water Treatment Plant upgrade. The project will sustain 300,000 bpd of crude production and expand treatment capacity to over 500,000 bpd. SourceContinue Reading