Oil And Gas News

The European Union's ban on re-exporting Russian liquefied natural gas (LNG) via EU ports, which aims to reduce Moscow's revenues after its invasion of Ukraine, came into effect this week.The ban, which prohibits the reloading of Russian cargoes at EU ports for export to third countries, was imposed in June 2024, with a moratorium until March 26, 2025 for contracts signed before June 25 last year.Gas market experts say the measure would have little impact as trans-shipments via EU ports to Asia represent less than 10% of total Russian LNG exports…

India is considering a proposal to scrap import tax on U.S. liquefied natural gas (LNG) to boost purchases and help cut the trade surplus with Washington, a key irritant for President Donald Trump, four government and industry sources said.The United States is India's second biggest supplier but the two sides are looking to ramp up volumes for India's energy-hungry economy, one of the fastest growing in the world.During Prime Minister Narendra Modi's U.S. visit last month, India pledged to increase U.S.

U.S. Secretary of State warned Venezuela on Thursday that it would be "a very bad day" for the South American country if it were to attack its neighbor Guyana or U.S.-based energy giant ExxonMobil, in comments that threatened unspecified action in such a case.Caracas condemned Rubio's remarks, made during a visit to Guyana's capital.Guyana and Venezuela are locked in a long-running dispute about which country has rights over the 160,000-square-km (62,000-square-mile) Esequibo area…

Companies planning a flagship offshore gas project between Venezuela and Trinidad and Tobago "have not slowed down" work, Trinidad Prime Minister Stuart Young said on Thursday, despite the United States increasing pressure on sanctioned Venezuela and uncertainty over the extension of a license for the project.Following talks with U.S. Secretary of State Marco Rubio, who is visiting South American and Caribbean countries this week, Young said the "landscape is changing," referring…

Kongsberg Maritime has launched the K-Sim Offshore DP3 Anchor Handling Simulator, designed for training for complex offshore operations.With an investment of over $322,000, the innovative training solution is designed to elevate competency standards, enhance operational efficiency, and promote sustainability across the sector.Additionally, it focuses on improving maritime safety by supporting our local customers and partners in ensuring safe operations and reducing risks in critical maritime activities.Situated at Kongsberg Maritime’s Aberdeen office in Westhill…

TechnipFMC has been awarded a major integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract worth over $1 billion by Shell for its Gato do Mato greenfield development offshore Brazil.In addition to integrated execution, the project will utilize Subsea 2.0® configure-to-order (CTO) subsea production systems. Combining both offerings will enable streamlined project management through a single interface and accelerate time to first oil.Jonathan Landes…

Sea1 Offshore, formerly Siem Offshore, has ordered two more offshore energy support vessels from Cosco Shipping.The vessels are based on a similar design as the first two vessels Sea1 Offshore ordered from the same shipyard in November 2024.The four vessels will have capabilities to serve both oil and gas and renewable markets.The scheduled delivery for the vessels is from third quarter 2027 to fourth quarter 2027.Based on ST-245 design, the vessels will be methanol ready with…

Norwegian offshore supply vessel operator DOF Group has secured a ‘very large’ subsea umbilical, riser, and flowline (SURF) project for an undisclosed energy company offshore Africa.Under the contract, DOF will deliver its full suite of project management, engineering, logistical and execution services to install flexible flowlines, risers, cables and associated subsea structures.DOF will also install a floating production unit on behalf of the client, offshore Africa.Offshore execution is planned in second half of 2025 and is expected to involve six DOF vessels and more than 450 vessel days…

The Switch, a provider of power electronics for the marine industry, has signed a multi-million-dollar contract with Vard Electro to deliver equipment for five diesel-electric hybrid walk-to-work vessels.The Switch will supply its DC-Hub technology to multiple vessels on order at Vard Electro, a subsidiary of Vard, a Fincantieri company.With a total of 15 DC-Hubs to be delivered, the project showcases the increasing demand for flexible and future-proof power distribution systems.The five diesel-electric hybrid walk-to-work vessels of the VARD 3 32 design will provide maintenance…

Norwegian offshore supply vessel operator DOF Group has secured a contract for the installation of a floating, production, storage and offloading (FPSO) unit from an undisclosed client offshore Africa.DOF will deliver project management, engineering, logistical services and offshore execution.The contract value has been deemed ‘significant’ by DOF, which means its value is between $15 million and $25 million.To carry out the installation duties, DOF plans to utilize two of its…

Kongsberg Maritime has signed a contract for the design and equip two multi-purpose subsea vessels for Olympic Group, which will be methanol-ready and feature battery hybrid technology.The UT7623 Sustainable Energy Vessels (SEVs) are the first references for Kongsberg Maritime’s latest subsea construction vessel designs and will feature a fully integrated package of technology including rim-drive propulsion, hybrid power and winch systems.The vessels will be constructed at the CMHI shipyard in Shenzhen…

TMC Compressors (TMC) has secured a contract to deliver a large capacity marine compressed air system to the large floating liquefied natural gas (FLNG) unit that Wison New Energies is building for Malaysia-based Genting.TMC will deliver its scope as a subcontractor to Jereh Offshore, which is a China-based engineering technology and service company to the offshore industries.As part of its scope of supply, TMC will deliver a marine compressed air system consisting of six compressors in total, for control air, instrument air, N2 feed air and utility purposes.

Petrobras is looking at potential opportunities in Argentina while advancing in projects in Colombia and Africa, the firm's exploration and production head Sylvia dos Anjos said on Tuesday.Gas from the Vaca Muerta region would be interesting to Petrobras as a pipeline connecting Argentina, Bolivia and Brazil could be used to transport it, Anjos said on the sidelines of the CERAWeek conference in Houston.She added the firm could also look for oil opportunities in Argentina, as…

Techano Oceanlift has secured a contract by Sefine Shipyard to deliver an offshore crane to a newbuild construction support vessel (CSV) that the Turkish shipyard is building for a strategic partnership between Agalas, Eidesvik and Reach Subsea.Techano Oceanlift, subsdidiary of Oslo-listed Nekkar, will supply a 150-tonnes capacity crane capable of performing subsea construction work and topside lifting operations. The company’s scope of work includes engineering, manufacturing…

U.S. Secretary of Energy Chris Wright delivered a keynote address at CERAWeek 2025, emphasizing the administration’s commitment to expanding American energy production while ensuring affordability, reliability, and security.Wright criticized previous energy policies for focusing too narrowly on climate concerns, arguing that they led to higher costs and economic instability. He reaffirmed the administration’s support for natural gas, nuclear, and expanded energy infrastructure…

Norwegian shipbuilder Vard has marked the start of construction of Island Offshore’s hybrid power ocean energy construction vessel (OECV) at its shipyard in Romania.Vard secured the order for the vessel, named Island Evolution, from Island Offshore back in May 2024, which also included an option for two additional vessels. Island Offshore placed the order for the second vessel, to be named Island Explorer, in August.Roy Viggo Fjørtoft, Project Manager from Island Offshore, had…

President Donald Trump's administration is considering a plan to stop and inspect Iranian oil tankers at sea under an international accord aimed at countering the spread of weapons of mass destruction, sources familiar with the matter told Reuters.Trump has vowed to restore a "maximum pressure" campaign to isolate Iran from the global economy and drive its oil exports to zero, in order to stop the country from obtaining a nuclear weapon.Trump hit Iran with two waves of fresh sanctions in the first weeks of his second-term…

Brazilian state-run oil firm Petrobras will commission four more support vessels by 2026, Chief Executive Magda Chambriard told Reuters, increasing the number of new ships aimed at supporting its operations to 48 by 2026.The reinforcement of Petrobras' fleet comes amid expectations of higher offshore oil output in the next few years as new production units come online at the Buzios field, where it expects to produce up to 2 million barrels per day by 2030.The commissioning of…

Kongsberg Maritime has secured a contract for the design and integrated equipment package for a new walk-to-work offshore service vessel (OSV), to be built by ST Engineering Marine in Singapore for an oil and gas company.The 97-metre vessel of Kongsberg Maritime UT 5520 design will accommodate 106 people and features a motion-compensated gangway to enable safe transfer of personnel between to and from offshore installations.The new design is a further development of Kongsberg Maritime’s extensive range of vessel types for the offshore energy market.It builds on recent experience with the succe

The Shenandoah floating production system (FPS) has been transported to the Gulf of America ahead of wet tow and offshore installation at the Shenandoah deepwater field at Walker Ridge project site, developed by Texas-based exploration and production company Beacon Offshore Energy.On December 13, 2024 the Shenandoah FPS sailed away from HD Hyundai Heavy Industries’ shipyard in Ulsan, South Korea, where it was built.COSCO Shipping and Guangzhou Salvage Heavy Transport (CSGS) delivered the Beacon Offshore Energy’s Shenandoah FPS to Ingleside…

Dutch offshore contractor Marine Masters has secured work on an offshore installation project for the greenfield Bhasker A & B platforms, designed and constructed by Indian energy company SunPetro.The project, managed by main installation contractor ACE Pipeline and directly overseen by Consolidated Support Services PTE LTD (CSS), involves the development of two wellhead platforms featuring jackets with integrated boat landings and topsides.The Marine Masters work encompasses detailed preparation for lifting and mooring activities…

MODEC has entered into a Front End Engineering and Design (FEED) contract with Samsung E&A for the installation of carbon capture technology on a floating, production, storage and offloading (FPSO) vessel.The offshore carbon capture project envisages the installation of a carbon capture module on a MODEC FPSO vessel as a pilot, and it will be a first-of-a-kind deployment of Carbon Clean’s CycloneCC technology in an onboard carbon capture setting.Carbon Clean will provide FEED support to Samsung E&A…

Global demand for liquefied natural gas is estimated to rise by around 60% by 2040, driven largely by economic growth in Asia, AI impact and efforts to cut emissions in heavy industries and transportation, Shell said in an annual report on Tuesday.Demand for natural gas continues to rise globally as the world transitions to cleaner fuels. Industry forecasts LNG demand to reach between 630 million and 718 million metric tons a year by 2040, Shell said in its 2025 annual LNG outlook.The latest view from the world's largest LNG trader is higher than last year's forecast…