Venezuela has begun shutting oil wells in the Orinoco Belt as U.S. blockade measures halt crude flows, forcing PDVSA to cut production by an estimated 25% due to storage constraints. SourceContinue Reading
Bollinger Shipyards has secured a contract to build four U.S. Coast Guard Arctic Security Cutters, advancing U.S. icebreaking capabilities and Arctic operational presence. SourceContinue Reading
U.S. ports are receiving Venezuelan crude despite a partial maritime blockade, with several Chevron-chartered tankers successfully unloading cargo and more en route. The activity highlights Chevron’s continued ability to move oil under its U.S. license as geopolitical tensions escalate and foreign vessels remain stalled offshore. SourceContinue Reading
Frontera Energy has signed a $120 million prepayment and commercial agreement with Chevron, supporting Colombian crude deliveries and bolstering liquidity as it replaces an expiring deal. SourceContinue Reading
Woodside and Türkiye’s BOTAŞ have finalized a long-term LNG sale and purchase agreement for 5.8 Bcm of gas, equal to 0.5 MMtpa over nine years starting in 2030. SourceContinue Reading
Oil prices rose Monday, with Brent near $62 and WTI above $58, supported by stalled Ukraine peace talks and China’s pledge to boost fiscal spending and demand in 2026. SourceContinue Reading
CB&I is set to acquire Petrofac’s Asset Solutions business, adding offshore operations and decommissioning services to its portfolio and bringing 3,000 employees under its umbrella. The move strengthens CB&I’s footprint in international energy markets and diversifies revenue beyond EPC work. SourceContinue Reading
bp will sell a majority stake in Castrol in a $10.1-billion deal while retaining 35% ownership—reshaping capital allocation as it sharpens upstream and LNG focus. SourceContinue Reading
Gulf Marine Services has secured a 985-day Europe contract for two Large-class vessels, pushing its contracted backlog to $540 million as demand for SESVs continues to strengthen across global offshore markets. SourceContinue Reading
Libya has launched a 22-block bid round with revised fiscal terms designed to lure global energy investors, but analysts warn that political and infrastructure risks could determine whether the country’s upstream revival gains lasting traction. SourceContinue Reading
