Offshore drilling contractor Borr Drilling has secured new contract commitments and extensions for four of its premium jack-up rigs across Africa, the Americas, Europe and Southeast Asia.In West Africa, the Prospector 5 rig has received a binding…
Oil prices climbed nearly 7% on Thursday after President Donald Trump said the U.S. would continue attacks on Iran, stoking fears of prolonged disruptions to oil supply.Brent crude futures LCOc1were up $7.65, or 7.6%, to $108.81 per barrel at 0902 GMT…
Oil supply disruptions from the Middle East will rise in April and begin to impact Europe's economy as the closure of the Strait of Hormuz severely curbs supplies, International Energy Agency head Fatih Birol said on Wednesday.More than 12 million…
Prysmian, a leader in energy and data wire and cabling solutions, recently announced changes to its leadership structure in North America to further strengthen the company’s market position in the region. 2025 marked the best year yet for Prysmian…
Heerema Marine Contractors has completed the installation of the Hornsea 3 first jacket and offshore converter station in the North Sea ahead of schedule, marking a milestone for the UK offshore wind project.The work was carried out by the Sleipnir vessel…
BW Energy has signed a sale and leaseback agreement with Minsheng Financial Leasing (MSFL) for the Jasmine Alpha jack‑up drilling rig.BW Energy will receive an $80 million cash consideration, strengthening financial flexibility while maintaining continued access to the unit…
Egypt and Cyprus signed a framework agreement for cooperation on gas at the Egypt 2026 Energy Show on Monday.A spokesperson for the Cypriot presidency said that the non-binding agreement will be a base upon which the two countries can negotiate…
Record output from wind farms has helped boost total clean power supplies in the United Kingdom to new highs so far in 2026, and allowed power firms to pare use of fossil fuels to multi-year lows.The growth in wind output has helped shield the UK power system from the worst effects of the U…
TotalEnergies has completed the merger of its U.K. upstream oil and gas business with NEO NEXT, creating a new company named NEO NEXT+ and taking a 47.5% stake in the combined entity.The deal establishes NEO NEXT+ as the largest independent oil and gas producer on the U…
Iberdrola has awarded contracts to Siemens Energy and Prysmian, worth more than $4 billion (€3.5 billion), for the development of the Eastern Green Link 4 subsea electricity interconnector between Scotland and England.Under the agreements, Siemens…
CRP Subsea has secured a contract from Jan De Nul to supply cable protection systems for Vattenfall’s Nordlicht I offshore wind project in the German North Sea.Under the agreement, CRP Subsea will deliver 141 cable protection systems to safeguard…
Reach Subsea has secured two new contract call-offs from Equinor covering gas reservoir monitoring and subsea inspection, maintenance and repair (IMR) work on the Norwegian Continental Shelf.Both contracts will be carried out using the uncrewed surface vessel (USV) Reach Remote 1…
The U.K. government has committed up to $85 million (£64 million) to support the development of a floating offshore wind port at Port Talbot in Wales, as part of efforts to expand clean energy capacity.The funding will support Associated British…
Oil companies will have to look further afield for new fossil fuel resources now that the Iran war has dented the investment allure of the energy-rich Middle East. Higher oil prices will give them that chance.Major international oil companies…