Month: July 2025

Saipem has won a $350 million contract from Azule Energy to install 62 km of subsea infrastructure tied to the Agogo FPSO in water depths reaching 1,750 meters offshore Angola.

PETRONAS will supply Greece’s METLEN with six LNG cargoes annually under a five-year agreement beginning in 2027, expanding the Malaysian company’s LNG presence in Europe and the Mediterranean.

Wood has won a five-year, $200 million contract from ExxonMobil PNG covering construction services across the PNG LNG project’s gas processing, pipeline, well pad and LNG infrastructure.

Venezuelan energy officials are heading to the G20 energy summit in Houston as the U.S. seeks additional oil investment and deals aimed at expanding the country’s crude production.

Brent crude posted its biggest weekly gain since July despite a 2.8% Friday decline, as Saudi Arabia’s East-West pipeline shutdown and escalating Middle East hostilities heightened oil supply risks.

ADNOC and XRG are pursuing new long-term LNG supply agreements with Germany’s RWE while expanding potential natural gas cooperation with SEFE across supply, infrastructure and logistics.

The IEA expects global oil supply to fall 5.7 MMbpd in 2026 as prolonged Middle East disruptions delay a recovery in Gulf production until 2027.

Gulf states and Iran are weighing talks in Oman on restoring shipping through the Strait of Hormuz as disruptions to the critical oil chokepoint continue to constrain regional energy flows.

Energy Holdings and Ventura Offshore have signed an LOI for an all-share combination that would create a roughly $1 billion offshore energy services group with $1.3 billion in contracted revenue backlog.

Royale Energy is completing its 10th Permian well after nine producers met or exceeded the company’s type curve, with more than 70 additional Barnett and Woodford drilling locations identified across its acreage.