Latest News
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19 Jul 25
Westwood Insight – Top 10 offshore drillers enhance their market position
Following a few years of increasing offshore rig activity, in 2024 the market began experiencing a dip in demand. This dip is not the start of a new down cycle, but rather a mid-cycle correction in a longer-term upcycle. Demand for jackups, semisubs and drillships combined stands at 520 units as of mid-2025, with the marketed committed utilisation rate at 86%. -
19 Jul 25
Chevron completes acquisition of Hess
Chevron has completed its acquisition of Hess following the satisfaction of all necessary closing conditions, including a favorable arbitration outcome regarding Hess’ offshore Guyana asset. Chevron now owns a 30% position in the Guyana Stabroek Block, which has more than 11 billion barrels of oil equivalent discovered recoverable resource. -
18 Jul 25
UK: First UK-German energy link takes shape as NeuConnect begins laying 140km of cabling in UK waters
The £2.4bn/€2.8bn NeuConnect project has reached another key milestone with the world’s largest cable laying vessel – the ‘Prysmian Leonardo da Vinci’ – now in UK waters to install 140km of underwater cabling, bringing the first direct energy link between the UK and Germany another step closer. -
18 Jul 25
Iraq: KBR secures two-year renewal of EPCM contract with Basra Oil Company for the Majnoon Oil Field in Iraq
KBR has secured the renewal of its engineering, procurement, and construction management (EPCM) contract with Basra Oil Company for the Majnoon Oil Field for an additional two years. -
18 Jul 25
UK: Government welcomes potential new UK green energy generation powerhouse OVO Renewables
OVO, a leading UK energy provider, has announced the proposed launch of OVO Renewables, a major new arm of the business that could see OVO move into energy generation for the first time. -
18 Jul 25
US: Vestas secures 527 MW order in the USA
Vestas has announced a 527 MW order in the USA. The order as part of its Q3 order intake. Delivery is planned to begin in Q2 2026 with commissioning scheduled for Q4 2026. -
18 Jul 25
US: bp agrees to sell US onshore wind business to LS Power
bp has agreed to sell its US onshore wind business, BP Wind Energy North America Inc. (bp Wind Energy), to LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector. -
18 Jul 25
UK: Green Volt awards Onshore FEED contract to Worley
Green Volt, a pioneering joint venture project from developers Flotation Energy and Vårgrønn, has awarded a front-end engineering and design (FEED) contract for its onshore substation to Worley. -
18 Jul 25
US: Interior Department revises guidelines to speed up plugging of orphaned oil and gas wells
The Department of the Interior has updated its guidelines for states applying to federal programs aimed at cleaning up abandoned oil and gas wells. The revised guidance eliminates non-statutory requirements and reduces burdens on State grant recipients. -
18 Jul 25
US: Interior ends preferential treatment for unreliable, subsidy-dependent wind and solar energy
In line with President Donald J. Trump’s Energy Dominance agenda, the Department of the Interior is ending preferential treatment for unreliable, subsidy-dependent wind and solar energy. -
18 Jul 25
BW Energy announces second quarter 2025 operational update
Net production attributable to BW Energy was 2.9 million barrels of oil (mmbbls) in the second quarter 2025, equivalent to 32.3 thousand barrels of oil per day (kbopd), from the Dussafu license in Gabon (73.5% working interest) and the Golfinho field in Brazil (100% working interest). -
17 Jul 25
Norway: Subsea7 awarded contract offshore Norway
Subsea7 has announced the award of a large contract by Equinor relating to the Fram Sør development project, offshore Norway. -
17 Jul 25
UK/Ireland: SSE provides Q1 Trading Statement
SSE reports continued project and regulatory momentum, with confirmation that the UK Government will not proceed with zonal pricing, and publication of Transmission draft determination. -
17 Jul 25
Indonesia: Conrad Asia Energy signs Gas Sales Agreement
Conrad Asia Energy, an Asia-focused natural gas exploration and development company, has signed a Gas Sales Agreement ('GSA') for the sale and purchase of natural gas from the Mako Gas Field with PT PLN Energi Primer Indonesia ('PLN EPI'), a wholly owned subsidiary of PT Perusahaan Listrik Negara (Persero) ('PLN Persero'). -
17 Jul 25
UK: EnerMech secures two-year cranes extension in North Sea
EnerMech has been awarded a two-year crane operations & maintenance (O&M) contract extension to continue supporting a North Sea operator. The current agreement, which began in August 2022, will now run until at least August 2027. -
17 Jul 25
Germany: Iberdrola's first solar farm in Germany, which will power Vodafone's mobile network, will save up to 20,000 tons of CO2 per year
Iberdrola Deutschland , the Group's subsidiary in Germany, has launched its first solar park in Germany, located in Mecklenburg-Western Pomerania. The solar farm will generate more than 53 GWh of renewable electricity per year, powering approximately 3,000 Vodafone mobile phone towers. -
17 Jul 25
Iberdrola signs a €2.5 billion credit line with 32 international banks
Iberdrola has signed a €2.5 billion credit line to continue strengthening its liquidity and diversifying its sources of financing. -
17 Jul 25
UK: RenewableUK comments on Reform UK’s energy policy announcement
RenewableUK has commented on Reform UK’s announcement that it would end financial support for future renewable energy projects. -
17 Jul 25
Solstad Offshore announces contract award for the CSV 'Normand Pioneer' with Petrobras
Solstad Offshore has announced a contract award for the CSV 'Normand Pioneer' with Petrobras. The contract that will commence in October 2025 and will have a duration of 180 days firm and a gross value of approx. USD 17 million, including mobilization. -
17 Jul 25
Norway: Equinor drills dry well in the North Sea (34/6-8 S) at the 'Garantiana NV' prospect
Equinor and its partners have drilled a dry well in the 'Garantiana NV' prospect in production licence PL 554. The well has been permanently plugged and abandoned. -
17 Jul 25
Italy: RWE commissions 53.1 megawatt wind farm in Italy
RWE has commissioned one of its largest onshore wind farms in Italy after a year of construction. The 53.1 megawatt (MW) Mondonuovo wind farm is located in the Apulia region. -
17 Jul 25
Santos announces Second Quarter Report
Santos has announced its Second Quarter Report for the period ending 30 June 2025. Free cash flow of approx. $1.1 billion in the first half positions the company well as it nears the start-up of its major development projects, Barossa and Pikka. -
17 Jul 25
Pharos Energy provides trading and operations update
Pharos Energy, an independent energy company with assets in Vietnam and Egypt, has provided a Trading and Operations Update ahead of the Company's Interim Results on 24 September 2025. -
17 Jul 25
US: Zephyr Energy provides operations update
Following the recent completion of a £10.5 million equity placing, Zephyr Energy has provided updates on its flagship operated project in the Paradox Basin, Utah, U.S. and on its proposed acquisition of working interests in accretive production and development assets in core Rocky Mountain basins, U.S. -
17 Jul 25
US: 1PointFive announces carbon removal credit agreement with Palo Alto Networks
1PointFive, a carbon capture, utilization, and sequestration (CCUS) company, has announced that Palo Alto Networks purchased 10,000 tons of carbon dioxide removal (CDR) credits over five years enabled by Direct Air Capture (DAC). -
17 Jul 25
Baker Hughes has agreed to acquire Continental Disc Corporation, a leading provider of safety-critical pressure management solutions
Baker Hughes, an energy technology company, has agreed to acquire Continental Disc Corporation (CDC), a leading provider of safety-critical pressure management solutions, from investment partnerships managed by Tinicum Incorporated in an all-cash transaction for approx. $540 million.
