Evolve Energy Inks Race Bank Offshore Wind PPA with Shell
Evolve Energy has signed a long‑term power purchase agreement with Shell Energy Europe for electricity from the 573 MW Race Bank offshore wind farm. The PPA runs through 2035, delivering about 112 GWh per year, more than 1 TWh over its term. The deal is Evolve’s largest offshore wind offtake and will be distributed to over 80 UK business customers via a renewable basket model. The agreement highlights growing corporate demand for credible, long‑term renewable supply.
ABL Secures Work at South Korean Offshore Wind Farm
ABL Group has been selected as the marine warranty surveyor for South Korea's 390 MW Shinan Ui offshore wind project. The role covers technical document review, vessel‑suitability surveys, and on‑site supervision of marine operations for 26 turbines on bottom‑fixed foundations. The project...
Toyo, OneSubsea Form Subsea CCS Partnership
Toyo Engineering Corporation and OneSubsea have signed a memorandum of understanding to explore joint subsea carbon capture and storage (CCS) projects, initially targeting Japan and Southeast Asia. The partnership pairs Toyo’s expertise in on‑shore CCS project development with OneSubsea’s subsea...
Japan to Launch $10B Fund to Help Asia Secure Oil
Japan announced a $10 billion financial framework, administered by state‑backed lenders JBIC and NEXI, to help Asian nations secure oil amid heightened Middle East tensions. The fund is equivalent to roughly 1.2 billion barrels, or about one year of crude imports for...
Eni Ships Venezuelan Crude to Europe After Two-Year Gap
Italian energy giant Eni loaded a 1‑million‑barrel cargo of heavy Venezuelan crude bound for Spain, the first European shipment in almost two years. The cargo left the Jose terminal aboard the Marshall Islands‑flagged tanker Front Cruiser after U.S. licenses cleared...
ExxonMobil, Energean, Helleniq Energy to Sign Contract for Exploratory Drilling Offshore Greece
ExxonMobil, Energean and Helleniq Energy will sign a contract with Stena Drilling to begin exploratory drilling in Greece's Block 2 offshore in the Ionian Sea. The operation, slated for February 2027, will employ a deep‑water vessel capable of drilling to 35,000 feet. This...
Petrobras Makes FID for Brazil’s Deepwater Scheme, Picks SBM Offshore for FPSOs
Petrobras has issued a final investment decision for the SEAP I deepwater project in Brazil’s Sergipe‑Alagoas Basin, joining the previously sanctioned SEAP II module. The combined development will cost over $12 billion (about $11.4 billion) and aim to produce more than 1 billion barrels of oil...
IEA Cuts Oil Demand, Supply Outlook Amid Iran War
The International Energy Agency (IEA) sharply revised its outlook, now expecting global oil demand to fall by 80,000 barrels per day in 2026, down from a previously projected 640,000‑bpd increase. It also cut the 2026 supply forecast by 1.5 million bpd, reversing...
Philippines Seeks US Extension to Buy Russian Oil
The Philippines has asked the United States to extend a waiver that lets Manila purchase Russian oil, a permission that lapsed on April 11. Energy Secretary Sharon Garín said the government remains optimistic about the extension while also scouting alternative supplies...
BP Signs Deal for Three Offshore Exploration Blocks in Namibia
BP has agreed to acquire a 60% interest in three offshore exploration blocks—PEL97, PEL99 and PEL100—in Namibia’s Walvis Basin from Eco Atlantic Oil & Gas, making BP the operator while Eco Atlantic and state‑owned NAMCOR retain stakes. The transaction awaits...
Hormuz Crisis Signals New Era of Risk for Gulf Energy
The six‑week Iran‑Israel‑U.S. war culminated in Iran’s unprecedented closure of the Strait of Hormuz, halting roughly one‑fifth of the world’s oil supply. The shutdown and missile strikes knocked out about 11 million barrels per day of regional production, including Saudi Arabia’s...
Turkey Launches Deep Sea Drilling Mission in Somalia
Turkey’s deep‑sea drilling vessel Cagri Bey arrived off Mogadishu to launch the country’s first overseas deep‑sea oil exploration. The planned well will reach 7,500 metres, placing it among the world’s deepest offshore drills. Energy Minister Alparslan Bayraktar hailed the project...
OMV Nominates BP Executive Emma Delaney as Next CEO
Austrian integrated oil and gas group OMV has nominated BP executive Emma Delaney as its next Chief Executive Officer, with the Supervisory Board slated to confirm the appointment. Delaney, who currently serves as Executive Vice President at BP, will assume...
Shell Targets 2027 Gas Start-Up at Loran-Manatee Field
Shell announced that it will start natural gas production from the offshore Loran‑Manatee field in 2027, a joint development straddling Venezuela and Trinidad and Tobago. The company has boosted the pipeline capacity to transport the gas to Trinidad to 1 billion...
ConocoPhillips Assessing Oil Opportunities in Venezuela
ConocoPhillips is sending a small evaluation team to Venezuela this week to assess oil and gas prospects. The U.S. producer, which left the country in 2007 after nationalization, is still owed roughly $12 billion plus interest from arbitration awards. The move...
