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.
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.
From June 18-20, 2025, the Japan Energy Summit & Exhibition will return to Tokyo Big Sight, convening global energy leaders, influential policymakers, and industry executives to advance Japan’s energy transition, investment landscape, and strategic role in the global energy system.
A nuclear-propelled containership designed by HD Korea Shipbuilding & Offshore Engineering (HD KSOE) received approval in principle from ABS.The design for a 15k TEU vessel uses a propulsion system comprised of a molten salt reactor (MSR) for heat and a supercritical carbon dioxide (SCO2) system for power generation.
Hanwha Power Systems and Hanwha Ocean have signed a joint development and collaboration agreement with Baker Hughes to design and produce low carbon ammonia gas turbines, to contribute towards reaching the goal of completely carbon-free operation of ships.Hanwha Group plans to complete the development of liquefied natural gas carriers and container ships using the ammonia gas turbine propulsion
Researchers from Australia’s University of Queensland have made a microscopic “ocean” on a silicon chip to miniaturise the study of wave dynamics.The device, made at UQ’s School of Mathematics and Physics, uses a layer of superfluid helium only a few millionths of a millimetre thick on a chip smaller than a grain of rice.
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.
Baker Marine Solutions (BMS) announced a formal partnership with Seacroft Marine Consultants (EMEA) and M3 Marine Expertise (Asia-Pacific) through a signed Memorandum of Understanding (MOU).After establishing a working relationship in recent years, this tri-party alliance formally marks a milestone in enabling cross-regional delivery of Marine Assurance, Marine Warranty
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row to the lowest since December 2021, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future output, fell by four to 576 in the week to Jan. 24.
Baker Marine Solutions is unveiling its newest towing vessel design and the International WorkBoat Show.The BMS 1882 - A 6000 HP Inland Towboat is designed for the inland waterway and transportation market.At a length of 170ft, the design boasts accommodation for a 10-person crew while providing ample living, recreation and leisure spaces to ensure crew comfort and habitability.
The U.S. Treasury Department on Thursday extended a license protecting Venezuela-owned Citgo Petroleum from bondholders to March 2025, a key decision amid a seven-year-long legal case in which the refiner's parent might be auctioned to pay creditors.Citgo's parent, PDV Holding, was found liable by the court for Venezuela's debts from asset expropriations and debt defaults.