Month: July 2025

Keppel will monetize up to 10 legacy offshore rigs through a new Apollo-backed investment fund, expanding its offshore asset management platform while capitalizing on strengthening rig market fundamentals.

SoftVest and Blackbeard have agreed to combine Permian Basin Royalty Trust with Blackbeard’s land and mineral assets in a $2.2 billion transaction creating one of the Permian Basin’s largest integrated land and royalty platforms.

President Trump said he wants to avoid further escalation with Iran as negotiations continue over reopening the Strait of Hormuz, keeping global oil markets focused on the region’s critical shipping corridor.

PetroChina is reportedly weighing the sale of part of its stake in LNG Canada to help finance the project’s planned Phase 2 expansion, as growing geopolitical tensions reinforce demand for new LNG export capacity.

Eni and TotalEnergies have approved development of the Cronos gas field offshore Cyprus, paving the way for the country’s first gas production and a new LNG export route to Europe through existing infrastructure in Egypt.

Oil prices fell sharply as the U.S. paused strikes against Iran and crude exports resumed through Kazakhstan’s CPC terminal, easing immediate supply concerns despite ongoing geopolitical risks in the Middle East.

Eden Tech has launched Genesis, a patented reverse osmosis centrifuge designed to improve produced water treatment by recovering more than 80% of clean water from high-salinity streams, targeting commercial deployment in the oil and gas industry.

ABL has secured a contract to support installation of Papua New Guinea’s first offshore floating storage and offloading (FSO) facility, a key milestone for the country’s offshore oil infrastructure.

DOF Group will sell four platform supply vessels and acquire two new construction support vessels as part of its fleet optimization strategy, while also declaring a constructive total loss on the Skandi Amazonas following its grounding off Brazil.

Sir Ian Wood, the visionary entrepreneur who built Wood Group into a global engineering leader and helped shape the North Sea oil and gas industry, has died at the age of 84, leaving a legacy that continues to influence offshore energy and UK regulation.