U.S. HSR Waiting Periods Expire for Subsea 7–Saipem Merger
3, August 2026
U.S. HSR waiting periods have expired for the proposed Subsea 7–Saipem merger, while competition reviews continue in the European Union and Australia.
Offshore - Oil & Gas
TotalEnergies Agrees to Acquire Shell Renewables and Sell 50% Stake
3, August 2026
TotalEnergies has agreed to acquire Shell’s 4GW European onshore renewables business and sell a 50% stake in a separate 1.2GW portfolio to an insurance account managed by KKR.
Subsea7 Wins Sizeable BSP Pipeline Contract Offshore Brunei
3, August 2026
Subsea7 has secured a sizeable contract from Brunei Shell Petroleum for the EPCI of subsea pipeline and riser systems in water depths of up to 50 m offshore Brunei.
Odfjell Drilling’s Deepsea Atlantic Returns to Service After April BOP Incident
3, August 2026
Odfjell Drilling has returned Deepsea Atlantic to operations following the April 2026 equipment handling incident that damaged the rig’s BOP system and suspended drilling activities.
MOL Group Agrees to Buy Shell’s BG Cyprus for Up to $720 Million
1, August 2026
MOL Group has agreed to acquire Shell’s BG Cyprus Limited for up to $720 million, giving it a 35% interest in the Aphrodite gas field upon completion.
Seacor Marine Reviews Sale, Merger and Asset Options
31, July 2026
Seacor Marine is reviewing a possible company sale, merger, asset disposal or other transaction after shareholders called for a sale or fleet monetisation process.
Shell Agrees to Sell BG Cyprus to MOL Group for Up to $720 Million
31, July 2026
Shell has agreed to sell BG Cyprus to MOL Group for up to $720 million, transferring a 35% interest in the Aphrodite offshore gas field. Completion is expected in early 2027.
bp Plans 700 Upstream Job Cuts in Global Restructuring
31, July 2026
bp plans to cut 700 upstream positions worldwide, equal to about 8% of the non-frontline workforce in its former production and operations business.
Subsea 7 Profit Rises to $254 Million as 2026 Margin Guidance Reaches 24%
31, July 2026
Subsea 7 reported Q2 2026 net income of $254 million and Adjusted EBITDA of $471 million as its full-year margin guidance increased to approximately 24%.
