Energy News

Iran and its proxies have carried out dozens of pinpoint strikes on infrastructure in the Gulf since the start of the war, systematically disabling critical equipment and causing cascading failures and economic damage region-wide in a deft campaign that helps explain how the Islamic Republic has held its own against the more powerful US military.Iran and the allies it arms went after vital oil-routing systems at Fujairah in the United Arab Emirates, the main port outside the Strait of Hormuz, disabling operations for weeks.

ABS and the U.S. Department of Energy’s (DOE) Office of Nuclear Energy have signed a memorandum of understanding to advance modern commercial nuclear technology at sea. The agreement spans floating power solutions, nuclear-powered vessels and the development of the ports, shipyards and industrial base needed to build and sustain them.Key priorities include concept and feasibility studies for floating nuclear power and nuclear transportation corridors, and support for developing a U.S. shipbuilding sector capable of building and operating nuclear-powered assets safely.

The shipping industry is working to improve fuel efficiency and ship performance to address decarbonization requirements, new regulations and rising operational costs. To support these developments, BIMCO has adopted the Energy Saving Device Retrofit Addendum 2026.The new contractual framework is designed to facilitate the installation of energy-saving devices during the period of a time charter. It provides owners and charterers with a flexible mechanism for agreeing how the costs…

Sumitomo Corporation Global Metals Co., Ltd. (SCGM) and TFI Marine Limited have formed a partnership to introduce innovation into mooring solutions for floating offshore wind and offshore energy projects. The partnership enables and accelerates the deployment of floating offshore wind in Japan and globally, contributing to decarbonization and energy security.Mooring systems are among the principal cost and risk drivers in floating offshore wind. As projects move into deeper water and towards commercial scale…

The US Senate is nearing a deal to reform laws to speed up permitting of large infrastructure projects after the White House compromised on how renewable energy is treated, though a vote is uncertain before the midterm elections, a top Senate Democrat said on Thursday.Senators Sheldon Whitehouse, the top Democrat on the environment committee, and fellow Democrat Martin Heinrich have negotiated permitting legislation with Republican counterparts for months, after the talks had been cut off in December when President Donald Trump halted five near-complete offshore East Coast wind farms.Whitehous

Israel's Energy Ministry said on Thursday it plans to expand natural gas production that would boost competition within Israel and increase exports.An inter-ministerial committee headed by the ministry issued final recommendations aimed at the need to raise natural gas output to meet domestic needs, encourage investment and accelerate the transition to renewable energy.Recommendations were approved by Israel's energy minister and the ministry's director general.Israel has become a key regional natural gas supplier with exports to Egypt and Jordan.A key recommendation included encouraging inves

Argentina's government has presented a bill to crack down on companies operating in the Falkland Islands, potentially escalating tensions with the United Kingdom over the territory that is controlled by Britain but claimed by Argentina.The proposal introduced on Thursday toughens sanctions on companies and people who unlawfully participate in activities in the Falklands and in Argentina's maritime spaces and continental shelf in "any type of activity aimed at the utilization of…

Global LNG prices could shoot higher this winter as Europe holds its lowest stocks in years and North Asian buyers face increased competition with the Strait of Hormuz still closed, executives said at an industry conference this week.Europe will enter this winter more vulnerable than usual amid storage levels that are lower than last year, industry executives and analysts said at Gastech in Bangkok.At the same time, the war on Iran has prevented Qatar and the United Arab Emirates from shipping liquefied natural gas through the Strait of Hormuz…

Higher energy prices resulting from the Iran war could add nearly €7.4 billion ($8.5 billion) to Spanish manufacturers' costs through the end of 2026, an industry lobby group said on Wednesday.Of the extra costs stemming from current prices, gas would account for €4.2 billion and electricity for €3.2 billion, with 70% of the impact expected between September and December, the Alliance for the Competitiveness of Spanish Industry said in a statement.The group, which represents 60% of Spain's gross industrial product, urged authorities to maintain existing support and introduce stronger measures

Nigeria could double investment into its energy sector within five years after joining the International Energy Agency, its chief Fatih Birol said on Thursday, as nations seek partners they can "trust" after supply disruptions from the wars in Iran and Ukraine.Speaking during a visit to Abuja, Birol told Reuters that Nigeria's admission as an associate member of the Paris-based energy watchdog would help attract investment, deepen technical cooperation and give Africa's largest oil producer a stronger voice in global energy policy discussions."My goal is…

Sub-Saharan Africa’s deepwater production is expected to grow by over 1 million boe/d by 2035 and big-ticket projects taking final investment decisions (FIDs) in 2026 and 2027 will be key to unlocking this.In late January, Equatorial Guinea and Chevron signed-off the Aseng Gas blowdown project. This will monetize ~1 Tcf from Aseng on Block I and help backfill the Equatorial Guinea LNG plant.We expect production to start in 2028. And in May, Eni gave the greenlight to Phase 3 of the Baleine project offshore Côte d’Ivoire.

On 29 May 2026, Vantage Drilling International and Eldorado Drilling signed a merger agreement under which Eldorado will acquire Vantage, making it a wholly owned subsidiary. As part of the transaction, Vantage shareholders will receive $19 per share in cash, valuing the company at approximately $257.6 million. The combined entity will continue to operate under the name Vantage Drilling International.Post-transaction, the company’s fleet will comprise four drillships - including…

The offshore energy industry is in the midst of a new investment cycle, driven by major developments in South America, renewed demand for energy security and an increasing reliance on digital technologies to improve asset performance. For Matt Tremblay, Senior Vice President, Global Offshore at the American Bureau of Shipping (ABS), the opportunities are significant — but so are the challenges.Speaking with Offshore Engineer in Houston, Tremblay described an industry that is “very busy…

The world's oil tanker fleet is behaving as if the Strait of Hormuz is reopening — even as the waterway itself remains only partially navigable and politically contested. From ship tracking data to freight rates, the signals are clear: owners and charterers are moving early to position vessels for a return to Gulf exports.But the gap between expectation and reality remains wide, leaving the global oil shipping system in a fragile middle ground between crisis and recovery.The most immediate evidence of adjustment lies in real-time vessel movements.

German-based engineering firm Sonplas has developed explosion-proof thermal chambers designed to test fuel and energy system components under controlled temperature conditions in hazardous environments, as demand grows for validation of equipment used with alternative fuels such as hydrogen, methanol and ammonia.The company said the chambers are designed for testing components including injectors, pumps, pressure sensors, complete fuel systems and power electronics under dynamic operating conditions.

BigLift Shipping, a member of the Spliethoff Group, successfully completed 10 project voyages for the Ridley Island Energy Export Facility (REEF), AltaGas and Vopak’s joint venture project.Starting in June 2024, BigLift safely transported equipment and infrastructure using four BigLift vessels: m/v Happy Dragon, m/v Pottersgracht, m/v Happy Star and m/v Happy Sky.The project began with the transportation of steel structures, marine piles and specialized equipment using BigLift's Happy Dragon.

While oil and gas are once again flowing through the Strait of Hormuz, the closure of the vital waterway for over 100 days could prove to be a turning point in global energy markets. The Arab oil embargo of 1973, a similarly disruptive supply shock, offers clues about where we might be headed.The latest Middle East crisis tested the limits of the modern energy system, which has evolved over recent decades into a highly interconnected global market held together by thousands of tankers…

The Trump administration will offer more than 81 million acres (32.8 million hectares) in the Gulf of America to oil and gas drillers as part of an effort to boost domestic energy production with regular offshore lease sales.The sale is the second since the U.S.-Israeli war with Iran disrupted global crude flows and sent oil prices to four-year highs. It is the third of 30 mandated by U.S. President Donald Trump's tax cut and spending law passed in 2025.The Interior Department will offer 15,100 unleased blocks located between 3 and 231 miles (4.8 to 372 km) offshore on the U.S.

State-controlled Petrovietnam Gas is sounding out suppliers for a possible tender to procure liquefied natural gas under a five-year contract, according to a document reviewed by Reuters.If agreed, it would be Vietnam's second term contract after a deal with Shell earlier this year, as the Southeast Asian manufacturing hub builds an LNG industry from scratch to help meet growing energy demand.The request sent in June to potential suppliers under a "market sounding exercise" is for the supply of 250…

A few months ago, I authored an article for Marine News focused on just one of the many successful features of the Oil Pollution Act of 1990 (“OPA 90,” Pub. L. No. 101-380 (1990)) — Alaska’s regional citizen advisory councils (RCACs). The Prince William Sound and Cook Inlet RCACs were established under OPA 90 to work with oil and gas industry interests on behalf of the surrounding communities to ensure safe operations and community buy-in. I was heartened by the positive responses I received from friends…

The maritime industry faces the dual challenge of reducing emissions while remaining economically competitive. As a result, energy efficiency is becoming one of the key drivers of the sector's transformation.Against this backdrop, SMM will launch the Energy Efficiency Hub, a dedicated exhibition area focusing exclusively on energy efficiency, September 1-4, 2026. Under the motto "Efficiency First: Powering the Future of Shipping," 24 companies from Europe, Asia and the Middle East will showcase solutions designed to improve energy efficiency in shipping.

German energy company RWE said on Thursday that it had reached a $1.22 billion agreement with the Trump administration to cancel three offshore wind leases in U.S. waters and to direct the funds to LNG and natural gas power plant projects.The arrangement is the fifth, and largest, the administration has entered into this year as part of its wide-ranging effort to stop development of U.S. offshore wind projects, which U.S. President Donald Trump regards as costly and ugly. His…

Following two successful pilots, the Engineering Construction Industry Training Board (ECITB), in partnership with the Global Wind Organisation (GWO) and Offshore Renewable Energy (ORE) Catapult, have officially launched the Wind Turbine Maintenance Technician Cross Skill Program to support worker transferability between oil and gas and wind operations and maintenance.The six-week program gives existing Instrument and Controls, Mechanical and Electrical Technicians the requisite…