ADNOC Logistics & Services (ADNOC L&S) has ordered four next-generation LNG carriers valued at approximately $900 million, expanding its newbuild program to support growing global LNG demand and ADNOC’s long-term gas growth strategy. The four vessels, each with a capacity of 175,000 m³, will be built by Jiangnan Shipyard in Shanghai and are scheduled for […]
Aesen and Topline Group have formed Aesen Topline Offshore Corp., a joint venture that will provide offshore logistics, maritime support and project management services for offshore energy, marine construction and infrastructure projects in the Philippines. The new company combines Aesen’s experience in offshore maritime logistics, multi-vessel operations and project execution with Topline’s local market knowledge, regulatory […]
Vedanta Oil & Gas has reaffirmed its goal of increasing production to 500,000 boed while calling for accelerated exploration to unlock India’s estimated hydrocarbon resources and reduce the country’s dependence on imported oil and gas. Marking Global Energy Independence Day, the company said India currently imports nearly 90% of its oil and gas requirements despite an estimated 300 […]
International Energy Agency Executive Director Fatih Birol pressed the European Union to revisit its moratorium on drilling for oil and gas in the Arctic, challenging the bloc’s long-held opposition to new fossil fuel development there. “I support the Commission to give a very close look at this issue because it is extremely important for the European energy […]
Oil prices jumped by 4% in Asian trade on Monday, following a weekend of intense U.S. strikes on Iran, claims from Iran that the Strait of Hormuz is closed to traffic once again, and Iranian strikes on five U.S. allies in the region. Brent Crude futures surged by 4% to top $79 per barrel in Asian […]
Oil and LNG tankers are back to switching off transponders when transiting the Strait of Hormuz as the latest escalation in the region and last week’s Iranian attacks on commercial ships prompted vessel operators to brave the chokepoint unobserved. Total tanker traffic collapsed on Sunday to just six vessels managing to clear the Strait of […]
Marubeni has sold its 12.5% interest in the Big Foot oil and gasfield in the US Gulf to Modiin Energy and Eventide Partners, the companies said on Thursday. The stake was sold through a wholly owned Marubeni subsidiary to ME BigFoot, which is 90% owned by Israel-based Modiin Energy and 10% by Eventide Partners. The […]
The United States launched a third round of strikes on Iran this week as Tehran declared it was closing the Strait of Hormuz “until further notice,” sharply escalating tensions around one of the world’s most critical energy chokepoints. U.S. Central Command (CENTCOM) said President Donald Trump ordered the strikes after Iranian forces attacked the Cyprus-flagged […]
Phil Hodge, founder, president and CEO of Pine Cliff Energy, talks to The Energy Year about the company’s near-term drilling plans and how the rise of LNG and data centres is reshaping gas markets in Western Canada. Pine Cliff Energy is an oil and gas E&P company focused on natural-gas-weighted, low-decline assets in Western Canada. […]
The US and Iran exchanged fresh strikes overnight into Monday as they continued their tit-for-tat attacks while issuing conflicting declarations over whether the Strait of Hormuz was open to shipping. US Central Command said American forces carried out a new round of attacks to degrade Iran’s ability to threaten shipping in the narrow waterway. Dozens […]