A new shuttling system is reshaping the Middle East oil market, as producers seek to keep exports flowing despite the escalating regional conflict. The question now is whether this complex, expensive process is a stopgap measure or the global energy market’s new normal.Several miles off Oman's coast, south of the Strait of Hormuz, rows of tankers lie at anchor.
Saudi Arabia and neighbouring Gulf producers will cheer the eventual reopening of the Strait of Hormuz, but the ensuing flood of oil risks eroding OPEC’s already fragile grip on the market.The Iran war and the closure of the vital waterway – through which nearly a fifth of the world’s oil and gas flowed before the conflict – have sharply diminished output from the Organization of the Petroleum
U.S. President Donald Trump said on Tuesday he would briefly pause an operation to help escort ships through the Strait of Hormuz, citing progress toward a comprehensive agreement with Iran."We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom ...
Norwegian ship designer and builder VARD has secured on order from France’s Orange Marine for two additional cable laying and repair vessels of the VARD 9 03 design, to be built at Colombo Dockyard in Sri Lanka.The vessels will be based on the same design as CS Sophie Germain, delivered to Orange Marine in July 2023.
Construction of OMS Group’s next-generation cable-laying vessel, CS Resilience, has reached a milestone with the laying of its keel at CRIST Shipyard in Gdynia, Poland, on September 17, 2026.The keel laying marks the start of hull assembly for the first of two vessels being built to the ULSTEIN SX252 design for OMS Group’s GREAT-Class fleet.
The possible collapse of U.S.-Iran peace talks and the stop-start flow of tankers through the Strait of Hormuz are a nightmare scenario for Gulf nations desperate to return to normal after a bruising multi-month conflict.What was meant to mark the start of a fragile recovery following the June 17 memorandum of understanding between Tehran and Washington is instead evolving into a period of
ECITB Global has rolled out a suite of new courses designed to help workers operating in confined spaces within the engineering construction industry (ECI) across the world.The international skills body introduced the four new confined space courses in Qatar earlier this year to replace the confined space low and medium-risk courses.
OMS Group has started construction of CS Resilience, the third vessel in its next-generation GREAT-Class fleet, with a first steel cutting ceremony held at CRIST's shipyard in Gdynia, Poland.The milestone marks the start of construction of the cable-laying vessel, which is scheduled to enter service in 2028 and forms part of OMS Group's long-term fleet expansion program.
Middle East oil producers face a reckoning. The Iran war exposed the dangers of relying on a single chokepoint for vital oil and gas exports, leaving Gulf governments with a clear strategic imperative: diversify – at all costs.An Iranian blockade of the Strait of Hormuz had long been viewed as a “Doomsday” event that would never happen.
The stop-start shipping traffic through the Strait of Hormuz underscores the profound uncertainty hanging over the world’s most critical oil and gas chokepoint. But one thing is already clear: even if the guns fall silent, flows through the narrow waterway will take months – and possibly years – to recover to pre-war levels.
The Iran war and the closure of the Strait of Hormuz have shattered a status quo that prevailed among Middle East oil and gas producers for decades. Even if the current, shaky ceasefire holds, the uneasy “new normal” has likely set the stage for yet another round of conflict.Tehran has now demonstrated both its ability and willingness to seal off the critical waterway and strike vital
The European Union may be forced to scale back its flagship climate policies and geopolitical aims as the Iran war drives up energy prices - with lasting consequences for the bloc's energy strategy.The energy crunch sparked by the conflict, now in its fourth week, has rattled Europe, which is heavily dependent on imported oil and gas.