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

Petrobras has acquired a stake in the Argonauta area of the Campos basin, increasing its ownership in the Jubarte pre-salt field and strengthening its offshore portfolio. SourceContinue Reading

Eni has signed a deal with PDVSA to restart oil operations at Venezuela’s Junin-5 project, signaling continued momentum in reviving the country’s upstream sector. SourceContinue Reading

A Japanese-linked oil supertanker has exited the Strait of Hormuz, marking a rare transit as shipping remains constrained amid the Iran war. SourceContinue Reading

Forum Energy Technologies has launched a compact, integrated LARS designed to improve efficiency in ROV inspection, maintenance and subsea operations. SourceContinue Reading

Petro Victory’s SJ-12 well in Brazil’s Barreirinhas basin has confirmed stacked gas reservoirs with 72 meters of net pay, supporting further development of the São João field. SourceContinue Reading

Geolander has launched a high-density nodal seismic survey in Angola using STRYDE technology to support CO₂ storage evaluation and reduce subsurface uncertainty. SourceContinue Reading