Petrobras Welcomes Bids in Multibillion-Dollar Vessel Tender
Petrobras has opened a multibillion‑dollar tender for platform supply vessels, potentially committing up to $2 billion in long‑term charter agreements. The initiative targets modern, environmentally‑compliant ships to support expanding offshore production in Brazil’s pre‑salt and ultra‑deep fields. By securing capacity through multi‑year contracts, the company aims to curb spot‑market price swings and lock in predictable logistics costs. The bid round welcomes both global shipbuilders and domestic yards, signaling a strategic push to strengthen Brazil’s maritime supply chain.
Saipem Awarded $1 Billion Contract for Newly Sanctioned West Africa Project
Saipem has been awarded a roughly $1 billion contract to design, build, and install subsea equipment and pipelines for Azule Energy's Greater PAJ project in West Africa. The deal, announced in August 2024, marks a major win for the Italian engineering...
BP, Eni Sanction Big FPSO Project in Angola
BP and Italy’s Eni have given the final investment decision for a large floating production storage and offloading (FPSO) unit to develop Azule Energy’s PAJ offshore field in Angola. The $2.5 billion project will install a vessel capable of processing roughly...
Petrobras Eyes Use of Decommissioned FPSO to Run Extended Well Tests
Petrobras is evaluating its decommissioned P‑35 floating production storage and offloading unit from the Marlim field as a platform for extended well‑testing operations. The initiative aims to repurpose the idle FPSO rather than scrap it, potentially providing a mobile test...
How Equinor Has Quietly Raised Its Bar for Offshore Wind Investment
Equinor is tightening the financial thresholds for its offshore wind projects, demanding higher returns before allocating capital. CEO Anders Opedal told Dagens Næringsliv that the company is no longer chasing its publicly stated wind and solar capacity targets. The shift...
Russia Declares Breakthrough in LNG Compressor Manufacturing Capability
Russia's Kazankompressormash has commissioned a new compressor assembly and testing facility, backed by an $84 million state subsidy, to develop domestic LNG compressor technology. The plant can test a prototype centrifugal compressor powered by a 130 MW gas turbine or an 80 MW...
Rising Gas-Fired Power Demand Creating New Market for Carbon Capture: Baker Hughes
Baker Hughes’ climate‑technology VP Ahmed Eldemerdash said the surge in electricity demand from AI‑driven data centres is reviving gas‑fired power, creating a new market for carbon capture and storage (CCS). In the United States, analysts project an 80 GW capacity shortfall...
Petrobras to Contract Tech Solution for Hydrogen Production
Petrobras announced a $29 million tender to source an industrial‑scale electrolyser for low‑carbon hydrogen, with a 50% local‑content mandate. The project is co‑funded by the federal agency Finep, each providing half of the non‑refundable resources. Petrobras aims to develop a domestically...
Socar to Explore Saudi-Based Group's Financing Options for Energy Projects
State oil company Socar has signed a memorandum of understanding with the Islamic Corporation for the Development of the Private Sector (ICD), a Saudi‑based affiliate of the Islamic Development Bank Group. The MoU outlines collaboration on energy, infrastructure and SME...
Hungary's MOL Steps Closer to Taking Control of Serbian Operator
Hungary’s MOL Group is in the final stage of acquiring a majority stake in Serbia’s oil and gas operator NIS, after signing a shareholders’ agreement with Belgrade. The company received an OFAC licence that permits negotiations with Gazprom Neft until July 1,...
Canadian Independent Ramps up Central Asia Gas Ambitions
Condor Energies, a Canada‑listed independent oil and gas producer, is accelerating its gas expansion in Central Asia by moving beyond its two‑decade presence in Kazakhstan into Uzbekistan. The company recently spudded its first horizontal well in Uzbekistan, signaling a shift...
Cold Feet: Why Big Oil Shuns Alaska's Arctic National Wildlife Refuge
In the latest federal lease sale for Alaska's Arctic National Wildlife Refuge, most major oil majors—including ExxonMobil, Chevron, and BP—opted out of bidding on the newly offered blocks. The decision reflects mounting regulatory uncertainty, heightened litigation risk over wildlife protection,...
Equinor Enters Angola Block in Heart of Congo Basin
Equinor has signed a farm‑in agreement to acquire a minority stake in TotalEnergies‑operated Block 16/21 offshore Angola. The block lies in the heart of the Congo basin, surrounded by active oil and gas fields and adjacent to an undeveloped legacy discovery....
Deepwater Driller Well Placed for More Rewards in Norway
COSL Drilling Europe has secured a contract extension for one of its four large semi‑submersible rigs operating in Norway’s offshore sector. The extension, announced on June 16, 2026, adds several months to the rig’s deployment, reinforcing COSL’s presence in the...
Libya Signs Bid Round Exploration Contracts
Libya has finalized its first production‑sharing agreements since 2008, marking the conclusion of a bid round that attracted major international oil firms. The deals were signed with Spain’s Repsol, Turkey’s Turkish Petroleum and Hungary’s MOL, covering several hundred thousand hectares...