As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers.
Caturus has taken a final investment decision on its Commonwealth LNG export project in Louisiana after securing $9.75 billion in project financing for the 9.5 million tonnes per annum facility, with partners Mubadala Energy, Kimmeridge and CPP Investments.The companies said the financing supports construction of the LNG export terminal in Cameron Parish, Louisiana
Baker Hughes has secured a contract to supply gas compression and power generation technology for ST LNG’s proposed 8.4 million tonnes per annum liquefied natural gas export terminal offshore Matagorda in Texas.Under the agreement, Baker Hughes will provide two LM6000PF gas turbine-driven centrifugal compressor trains and three NovaLT16 gas turbine generator packages for the first phase of the
The Bureau of Ocean Energy Management has issued a Notice of Intent to prepare an Environmental Impact Statement for a proposed update to the Santa Clara Unit Development and Production Plan, which includes the use of hydraulic fracturing on 16 existing wells at Platform Gilda, located 8.8 miles offshore Ventura County, California.
IBIA – International Bunker Industry Association Board announced the outcome of their elections at the IBIA Annual General Meeting (AGM), ahead of the IBIA Annual Dinner at the Grosvenor House Hotel in London’s Park Lane.A total of eleven candidates stood for election for the four available Board positions.
An oil tanker under EU sanctions for carrying Russian oil is being escorted to Tanger Med in Morocco by a Spanish rescue ship, Spain's Merchant Marine said on Tuesday.The Chariot Tide, which was sailing under a Mozambique flag and until November was known as the Marabella Sun, has been on an EU sanctions list since November 2024 for helping Russia export oil "while practicing irregular and
U.S. energy firms this week added oil and natural gas rigs for a third week in a row for the first time since February, energy services firm Baker Hughes said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future output, rose by three to 542 in the week to September 19, its highest since July.
Baker Hughes has signed a multi-year contract with Petrobras to extend deployment of its Blue Marlin and Blue Orca stimulation vessels, supporting offshore oil and gas production in Brazil’s post and pre-salt fields.The award, which followed an open tender, also covers the supply of associated chemicals and services.
The National Ocean Industries Association (NOIA) has released its sixth annual Offshore Energy Industry's Innovation & Workforce Excellence Report, a comprehensive publication showcasing how offshore energy companies are leading on environmental performance, workforce development, safety, and corporate responsibility.
Costamare Bulkers has reported its unaudited financial results for the fourth quarter and year ended December 31, 2025, reflecting on the company’s performance during its second full quarter as an independent, publicly traded company.Costamare Bulkers had no operating activity during the year ended December 31, 2024 and remained a wholly-owned subsidiary of Costamare Inc.
Bunker Suite reports the successful completion of the first Electronic Bunker Delivery Note (E-BDN) trial onboard the Lady Clara in mid-October in Rotterdam.Developed entirely by Bunker Suite, the E-BDN platform replaces traditional paper-based workflows with a secure, fully digital process designed to streamline operations, enhance automation, and strengthen data integrity.
Australia-based Provaris Energy has signed an agreement with global energy technology company Baker Hughes.The collaboration marks a significant step forward in the development and deployment of compressed hydrogen solutions for marine transportation and storage, leveraging Provaris’ proprietary H2Leo Barge and H2Neo Carrier alongside Baker Hughes’ compression expertise.