North Sea operators are urging the UK government to replace the Energy Profits Levy with a new fiscal framework, saying tax reform could unlock up to £50 billion in investment and strengthen domestic oil and gas production. SourceContinue Reading
Kongsberg Maritime, Seadrill and Hanwha Drilling have formed an alliance to develop remote dynamic positioning (DP) technology aimed at improving safety, automation and operational efficiency for offshore drilling rigs. SourceContinue Reading
Newfoundland and Labrador has signed a benefits agreement with Equinor and bp for the Bay du Nord offshore oil project, outlining local supply chain participation and advancing the development toward future investment decisions. SourceContinue Reading
The Senate Energy and Natural Resources Committee has approved Steve Pearce’s nomination to serve as director of the Bureau of Land Management, advancing the nomination to the full Senate as industry groups call for leadership at the agency overseeing federal oil and gas leasing. SourceContinue Reading
The African Energy Chamber has signed a cooperation agreement with Venezuela’s energy ministry and PDVSA to expand upstream investment, gas development and energy trade between Africa and the South American producer. SourceContinue Reading
Crude storage tanks across the Middle East are rapidly filling as exports through the Strait of Hormuz remain blocked, raising the risk that major producers may be forced to cut output if shipments do not resume soon. SourceContinue Reading
Equinor and Hydromea have demonstrated the first real-time subsea wireless data transmission from the seabed directly to cloud infrastructure, marking a major step toward autonomous subsea operations and digital offshore asset monitoring. SourceContinue Reading
The U.S. plans to insure and escort oil tankers through the Strait of Hormuz as the conflict with Iran disrupts shipping in one of the world’s most critical energy chokepoints, through which roughly one-fifth of global oil supplies normally transit. SourceContinue Reading
Subsea7 has named Seaway7 CEO Stuart Fitzgerald as its next chief executive, succeeding John Evans upon his retirement in June 2026, as the offshore engineering firm prepares for its planned merger with Saipem. SourceContinue Reading
Norway says its natural gas production is already near full capacity, limiting its ability to offset supply disruptions after Qatar shut down the world’s largest LNG export facility, sending European gas prices sharply higher. SourceContinue Reading
