Oil and gas prices fell sharply after reports that the U.S. and Iran are nearing a deal that could reopen the Strait of Hormuz and ease global supply disruption. SourceContinue Reading

The U.S. paused its plan to reopen shipping through the Strait of Hormuz after renewed clashes raised escalation risks, leaving global oil and gas flows under continued pressure. SourceContinue Reading

Subsea tiebacks were a clear Day 1 theme at OTC, with speakers pointing to their growing appeal as operators prioritize lower-capex, faster-to-market offshore developments in a volatile global market. SourceContinue Reading

SES will provide satellite connectivity for seven new FPSO units operated by Petrobras, supporting offshore developments in Brazil scheduled to come online between 2026 and 2030. SourceContinue Reading

Norway has launched its APA 2026 licensing round, adding 70 new exploration blocks across the North Sea, Norwegian Sea and Barents Sea to boost offshore activity. SourceContinue Reading

Portugal is moving toward a windfall tax on energy companies as the Iran conflict drives up oil and gas prices, with EU countries weighing coordinated action. SourceContinue Reading

The U.S. said its ceasefire with Iran remains intact despite clashes in the Strait of Hormuz, where vessel attacks and missile strikes have heightened risks to global oil shipping. SourceContinue Reading

Expro is acquiring Enhanced Drilling for $215 million, adding managed pressure drilling capabilities as it positions for growing demand tied to energy security and global supply pressures. SourceContinue Reading

INEOS and Shell are advancing new deepwater exploration and development opportunities near the Appomattox platform in the U.S. Gulf, targeting tieback projects to existing infrastructure. SourceContinue Reading

Weatherford has secured managed pressure drilling contracts and a global aftermarket agreement with Noble, including MPD system deployments for offshore operations in Guyana and Nigeria. SourceContinue Reading