Upstream news updates

GLND intends to use the net proceeds from the offering to fund exploration and appraisal activities in the Jameson Land Basin (Jameson), as well as for general corporate purposes.

Subsea7 today announced the award of a substantial engineering, procurement, construction, and installation (EPCI) contract by ExxonMobil to Subsea Integration Alliance (SIA) for a subsea tie-back associated with the Redevelopment 2.0 Likembe Project in Block 15, offshore Angola.

JDR will supply approximately 18 km of hydraulic control umbilicals, with options for a further 13 km, subject to drilling success.

The United Arab Emirates' withdrawal from OPEC, effective 1 May 2026, represents the most significant fracture in the organization's 66-year history and increases the risk of oversupply weakening prices, according to analysis published today by Wood Mackenzie.

The project, led by Geolander, will support a major oil and gas operator’s carbon capture and storage (CCS) ambitions by improving understanding of subsurface conditions and storage potential.

The Middle East conflict disrupted 80 million tpy of Gulf LNG exports, yet power markets absorbed the shock through fuel diversification.

Forum Energy Technologies (FET) has unveiled its latest innovation in subsea handling equipment, the Model 6000 (M6000) Launch and Recovery System (LARS).

Odfjell Technology has signed a Memorandum of Understanding (MoU) with Applied New Technologies (ANT) to work together to deliver a next generation erosion tool for well plug and abandonment (P&A) projects across Southeast Asia.

Located in the Central North Sea, Harding has played a pivotal role in powering homes, fueling industry and playing a vital role in the UK’s economy for three decades.

KBR has announced a strategic investment in UK-based Applied Computing, marking a significant step forward in KBR’s AI driven growth strategy. As part of the investment, KBR has also secured a board position in the company.

Urgent action to ensure oil and gas companies meet their legal obligations to safely remove ageing oil and gas infrastructure from the North Sea could create up to 25 000 UK jobs and deliver up to £15 billion in economic benefit to the UK, a new first-of-its-kind report shows.

The world's 30 largest exploration and production companies face production declines averaging nearly 40% between 2025 and 2040.

The final environmental impact statement analyses the potential environmental impacts associated with authorising proposed treatments on up to 16 existing wells as part of the operator’s update to its Development and Production Plan.

Technology enables engineers to seamlessly import well design files from various platforms to optimise design, further advancing the leading rod design platform.

ASCO, a leading logistics, materials and operations management specialist, has recently secured four significant contracts across Australia, totalling AUS$33.2 million.

Reuters reports that Trump signed memorandums on coal supply chains, domestic petroleum production, natural gas transmission and liquefied natural gas capacity.

The 2026 Iran war and the disruption to LNG flows through the Strait of Hormuz have increased global gas price volatility, which has fed directly into European power markets.

European gas prices fell to near seven-week lows on the afternoon of Friday 17th April 2026, on news the Strait of Hormuz would be fully open to commercial shipping, but traders and analysts remained cautious, according to Montel.

Middle East conflict has elevated strategic energy security priorities as countries seek supply diversification, international shale exploration can play a key role in meeting those goals, according to new research from Wood Mackenzie, titled “A hydrocarbon copy: the upstream industry’s return to international shale exploration”.

DNV, the independent energy expert and assurance provider, in collaboration with the international energy company Equinor, has introduced a new incident taxonomy that helps organisations improve how they classify, understand, and learn from incidents.

Partnership with NOC subsidiary brings in-country maintenance and repair for critical oil and gas and power assets.

bp has agreed to acquire a 60% interest in three offshore exploration blocks in Namibia from Eco Atlantic Oil & Gas as part of bp’s strategy to grow its upstream portfolio.

Glamox will supply lighting for four Offshore Energy Support Vessels (OESVs) being built for Sea1 Offshore AS.

Energy and marine consultancy ABL have signed a memorandum of understanding (MoU) with Egyptian offshore construction and services company Petroleum Marine Services (PMS) to collaborate on rig moving services and marine assurance and risk.