ExxonMobil CEO Darren Woods said the company is close to lifting the force majeure on its Rovuma LNG project in Mozambique and will move “fairly quickly” toward a final investment decision once the suspension ends.
Vaalco Energy has once again delayed its multi-well drilling campaign offshore Gabon, now set to begin in the fourth quarter as the company reports lower third-quarter earnings due to maintenance and weaker oil prices.
Santos and Carnarvon Energy have delayed offshore exploration in the Bedout sub-basin, which hosts the Dorado discovery, pushing drilling to the first half of 2027 due to rig unavailability.
Lukoil declared force majeure at Iraq’s West Qurna 2 oilfield after US sanctions disrupted its operations and restricted US-dollar transactions, affecting one of the country’s key upstream projects.
Ocean Installer has secured a NOK 1–2 billion contract from Vår Energi for the Balder Next development, covering project management, engineering, and flexible product supply, with offshore work scheduled for 2027–2028.
Standard Chartered and J.P. Morgan released oil price forecasts showing mixed market signals, with Brent crude expected to average $68.50 and $66 per barrel in 2025.
SAL Heavy Lift has christened MV Elise in Hamburg, the first of its new Orca Class vessels, marking a step toward more efficient and sustainable heavy-lift shipping.
The U.S. Interior Department opened 80 million acres in the Gulf of America for oil and gas leasing and proposed a 1 million-acre sale in Alaska’s Cook Inlet under the One Big Beautiful Bill Act, setting a 12.5% royalty rate.
Dogger Bank Wind Farm will add £6.1 billion to the UK economy and support thousands of jobs through its 3.6 GW offshore project in the North Sea, according to a BVG Associates report commissioned by SSE, Equinor and Vårgrønn.
