Velesto secures first asset-light jackup contract with Hibiscus offshore Malaysia
Velesto secured a jackup drilling contract from Hibiscus for an offshore campaign in Malaysia, the company’s first contract utilizing a third-party […]
Industry Reports
Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
Velesto wins jackup rig contract for Hibiscus Malaysia drilling campaign
Velesto Energy has secured its first asset-light offshore drilling contract from Hibiscus Oil & Gas Malaysia, covering jackup rig services
Perenco restarts Davy gas field production in North Sea
Perenco UK has restarted production from the Davy gas field in the Southern North Sea after more than five years
UAE fast tracks second West-East oil pipeline to bypass Strait of Hormuz
The second pipeline project comes as global energy supplies remain under pressure and flows through the Strait of Hormuz remain
CIA chief makes historic trip to Cuba as US blockade chokes island’s energy supplies
The U.S. has been restricting oil shipments to Cuba since January, plunging the country into blackouts lasting days at a
Oil prices jump after Trump says China agreed to buy U.S. crude following Xi talks
Oil prices rose Friday on news that China has agreed to purchase oil from America
ICIS analyst warns physical oil tightness could persist months after Iran war resolution
ICIS analyst Kojo Orgle warns that physical oil market tightness could persist for months even after a diplomatic resolution to
Bipartisan Senate bill targets future LNG export moratoriums
A bipartisan Senate bill backed by TIPRO and EWTC aims to prevent future LNG export permit moratoriums by strengthening protections
Trump says Xi backs diplomatic push to reopen Strait of Hormuz
President Donald Trump said Chinese President Xi Jinping supports diplomatic efforts to reopen the Strait of Hormuz as Gulf shipping
Decom Engineering appoints new chairman to support subsea expansion
Decom Engineering has appointed Keith McDermott as chairman as the company expands its offshore decommissioning, subsea engineering and industrial cutting
Argent LNG gains unanimous Louisiana legislative support
The Louisiana Legislature has unanimously endorsed the proposed Argent LNG export facility at Port Fourchon, backing development of the 25-MMtpa
ABL wins Mero 3 and 4 SURF support contract offshore Brazil
ABL has been appointed marine warranty surveyor for Subsea7’s transportation and installation campaign supporting the Mero 3 and Mero 4
DNV warns AI scaling in energy networks requires digital trust
DNV has released a new position paper arguing that digital trust frameworks are essential for safely scaling artificial intelligence across
China eyes more U.S. oil amid Hormuz disruption, White House says
A White House official said Chinese President Xi Jinping expressed interest in increasing U.S. oil purchases to reduce China’s dependence
Touchstone drills two Trinidad oil wells ahead of schedule
Touchstone Exploration drilled two oil development wells ahead of schedule on the WD-8 block onshore Trinidad and Tobago in Q1
ADES wins jackup contract with Belbop Nigeria
ADES secured a one-year contract for its Main Pass IV standard jackup rig with Belbop Nigeria Limited, in a filing
TAG Oil secures rig for Egypt well, SERQ approval delayed
TAG Oil secured a drilling rig for the T-200 well at its Badr Oil Field (BED-1) concession in Egypt’s Western
Venezuela embarks on $150 billion restructuring of debt amid political turmoil
Venezuelan officials said they wanted to “free the country from the burden of accumulated debt.”
Iran war fallout forces Singapore Airlines-backed Air India to cancel 27% of international flights
Air India, a carrier co-owned by Tata Group and Singapore Airlines, plans to scale back over a quarter of its
Cuba says oil and diesel supplies have run dry under U.S. sanctions
A Cuban official said the situation is “extremely tense” as blackouts sparked protests in Havana on Wednesday.