Subsea7 has been awarded an EPCI contract by ExxonMobil for a subsea tie-back project in Block 15 offshore Angola, valued between $150 million and $300 million. SourceContinue Reading

Eco Atlantic has advanced its acquisition of JHI Associates, positioning the company to secure a 35% interest in the PL001 offshore block in the Falkland Islands. SourceContinue Reading

Newfoundland and Labrador’s 2026 budget includes $90 million for offshore exploration, with industry pointing to growing momentum ahead of projects like Bay du Nord. SourceContinue Reading

A “seismic” shift for oil markets? Analysts say the UAE’s departure could reshape OPEC+ influence for years, despite ongoing supply disruptions keeping prices elevated. SourceContinue Reading

bp has signed an agreement with Venezuela to explore offshore natural gas, marking a renewed push by international companies into the country’s reopening energy sector. SourceContinue Reading

Nabors says Middle East conflict is driving higher costs and logistics challenges, but international drilling demand remains strong. SourceContinue Reading

Oil prices surged toward $120 per barrel as the Iran war and continued closure of the Strait of Hormuz tighten global supply and fuel a growing energy crisis. SourceContinue Reading

President Trump has rejected Iran’s proposal to reopen the Strait of Hormuz, maintaining a naval blockade that continues to disrupt global oil supply. SourceContinue Reading

BW Offshore has signed a FEED agreement with Equinor for the Bay du Nord FPSO project offshore Canada, advancing the development toward a potential 2027 FID. SourceContinue Reading

Russia has confirmed it will remain in OPEC+ following the UAE’s exit, signaling continued support for the alliance amid global oil market disruption. SourceContinue Reading