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Business & Finance

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AD140 jack-up rig; Source: Arabian Drilling
Business & Finance

Middle East conflict halts more offshore drilling ops as another rig owner confirms temporary suspensions

Arabian Drilling, said to be Saudi Arabia’s largest onshore and offshore drilling company by fleet size, has revealed temporary suspensions for some offshore rigs in the Arabian Gulf, as its land fleet remains unaffected by the ongoing conflict in the Middle East.

about 6 months ago
Ras Laffan petrochemicals project in Qatar (aerial view); Source: CPChem
Business & Finance
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$25 billion price tag looms over Gulf energy infrastructure repairs, Rystad says

Given the reported damage and shutdowns impacting liquefied natural gas (LNG) assets, refineries, fuel terminals, and gas-to-liquids facilities across the Middle East region amid the military conflict between the U.S.-Israel alliance and Iran, Rystad Energy, an energy market intelligence group, esti

about 6 months ago
Illustration; Source: ADES
Business & Finance

Middle East crisis brings ‘temporary suspensions’ to some ADES rigs

ADES International, a subsidiary of ADES Holding Company, which is part of Saudi Arabia-headquartered ADES Group, has confirmed suspensions of operations for multiple rigs in its fleet as a result of the ongoing conflict between the U.S.-Israel alliance and Iran in the Middle East.

about 6 months ago
Illustration; Source: Wood Mackenzie
Business & Finance

Middle East conflict: Energy security risks and price shocks as market volatility hits supply chains

Since the ignition of the conflict between the U.S. and Israel on one side and Iran on the other, the global markets have been on tenterhooks, as fears continue to grow over the impact the hostilities will have not just on the Middle East region but also the world at large, especially in terms of ec

about 6 months ago
Illustration; Source: Westwood
Business & Finance

Transocean, Noble, COSL, Seadrill, and Valaris pinpointed as rig backlog powerhouses

While taking a deep dive into the floater rig market and top floating rig managers based on the current total backlog for 2026, Westwood Global Energy, an energy market research and consultancy firm, has spotlighted five offshore drilling players – Transocean, Noble, COSL, Seadrill, and Valaris – as

about 6 months ago
Illustration; Source: Keyfield
Business & Finance

Malaysian shipowner scoops up eight new vessel gigs

Keyfield International, a Malaysian fleet owner of offshore vessels, has picked up new assignments across Malaysia, the Middle East, and Thailand for seven accommodation work boats (AWB) and one anchor handling tug supply (AHTS) vessel.

about 6 months ago
Ras Laffan petrochemicals project in Qatar (aerial view); Source: CPChem
Business & Finance

Missile strikes leave fires and ‘extensive damage’ in its wake at QatarEnergy’s LNG assets

Qatar’s state-owned oil and gas giant QatarEnergy has confirmed missile attacks at multiple liquefied natural gas (LNG) facilities, which sustained significant damage during the assault that left the targeted LNG infrastructure in flames.

about 6 months ago
Chevron-operated Leviathan gas asset (for illustration); Source: NewMed Energy
Business & Finance

Chevron hires Hanwha Ocean for Mediterranean gas field expansion

Chevron Mediterranean Limited (CML), a subsidiary of the U.S.-headquartered Chevron, has put South Korea’s Hanwha Ocean on module fabrication duty for its planned expansion of gas export capacity from a giant natural gas field project off the coast of Israel.

about 7 months ago
Illustration; Source: QatarEnergy
Business & Finance

LNG production freeze pushes QatarEnergy to invoke force majeure

A liquefied natural gas (LNG) shutdown has led Qatar’s state-owned oil and gas giant QatarEnergy to issue a contractual force majeure notice to LNG buyers.

about 7 months ago
Ras Laffan petrochemicals project in Qatar (aerial view); Source: CPChem
Business & Finance

QatarEnergy turns off LNG and downstream production taps

Qatar’s state-owned oil & gas giant QatarEnergy has opted to clamp down on output by cutting off the production flow of liquefied natural gas (LNG) and associated products in the wake of the attack on Iran, which the U.S. and Israel launched over the weekend.

about 7 months ago
FPSO Energean Power works at the Karish field offshore Israel; Source: Energean
Business & Finance

Hormuz shutdown ramifications: Oil price hike to hit $100 as Asia-Europe LNG battle looms

As the closure of the Strait of Hormuz, through which 15% of global oil and 20% of global liquefied natural gas (LNG) supply flows, evokes fears of a major energy shock, analysts at Wood Mackenzie, an energy intelligence group, have warned that oil prices could surge past $100 a barrel (bbl), if flo

about 7 months ago
AD Ports and Nimex break ground on LPG terminal hub at Khalifa Port
Business & Finance

AD Ports and Nimex break ground on LPG terminal hub at Khalifa Port

UAE-based terminal operator AD Ports Group and Nimex Terminals, an affiliate of the global trading organization Nimex Petroleum Group, have broken ground on what is said to be the UAE’s first private-sector liquified petroleum gas (LPG) terminal hub, located at Khalifa Port. The LPG terminal hub, an

about 7 months ago
Technip Energies-led JV nets ‘major’ LNG contract with QatarEnergy
Business & Finance

Technip Energies-led JV nets ‘major’ LNG contract with QatarEnergy

A joint venture (JV) of Technip Energies, as the leader, Consolidated Contractors Company (CCC) and Gulf Asia Contracting (GAC) has secured an engineering, procurement, construction and commissioning (EPCC) contract by QatarEnergy for the onshore LNG facilities of the North Field West (NFW) project,

about 7 months ago
‘First-ever’ remote operated landing crafts to be built in Malaysia
Business & Finance

‘First-ever’ remote operated landing crafts to be built in Malaysia

Malaysia-headquartered offshore support vessel (OSV) provider Nam Cheong has been awarded shipbuilding contracts, valued at $64.5 million, for two dive support vessels (DSVs) and two remote operated landing crafts (ROLCs) by a UAE-based maritime logistics company, marking its first newbuild contract

about 7 months ago