Upstream news updates

Forum Energy Technologies’ subsea product line has secured a contract for long-term client DOF.

Viridien announces the commencement of the Charrua 3D multi-client survey offshore Uruguay.

Wood Mackenzie warns Middle East conflict threatens 200 million tpy of Asian LNG demand growth over next decade as Qatar declares force majeure on shipments.

UK remains global decarbonisation frontrunner but will miss 2030 clean power target, 2035 Nationally Determined Contribution (NDC) and legally binding 2050 net zero goal, according to a new report from DNV.

Oceaneering announces the launch of a new electric propulsion work class ROV today at Subsea Tieback Forum in New Orleans, Louisiana.

Neil Crosby, AVP Oil Analytics at Sparta, Michael Ryan, Freight Commodity Owner at Sparta, and Philip Jones-Lux, Senior Analyst for Sparta, comment on freight, refining margins and Hormuz disruption.

Neil Crosby, AVP Oil Analytics at Sparta, on the potential impact of continued disruption in the Strait of Hormuz.

ICIS provides analysis and context on the evolving situation in the Middle East.

Crude oil prices have increased sharply since the United States and Israel started their coordinated strikes on Iranian military targets on 28 February 2026.

GCC exports, global energy markets in flux, reports GlobalData.

Rystad Energy’s market update from Jorge Leon, Senior Vice President and Head of Geopolitical Analysis.

OPEC+ production increases inaccessible if Strait of Hormuz transit flows do not resume.

In the early hours of 28 February, the US and Israel launched direct and extensive military operations inside Iran, in what appears to be a campaign broader in scope and intensity than the previous 12-day confrontation. Intercontinental Exchange (ICE) Brent crude oil prompt-month prices are expected to rise by US$20/bbl when trade opens on 2 March.

30 of the world’s largest companies must find 22 million bpd by 2040. Companies will need to deploy every tool in the business development playbook to square the circle

Bilfinger has secured two high-profile maintenance contracts that significantly strengthen its presence across both offshore and onshore energy operations in the UK.

Intermoor, Acteon’s Moorings and Anchors business line has announced that it has been awarded a new contract by Petrobras for the provision of stack-up mooring system services in Brazil.

World Pipelines to host dedicated UK CCS infrastructure forum, on 18 March 2026, in London.

Barents gas could hold the key for Europe's energy security and supply diversification.

The new EM2042 DR600 and EM2042 BNS build on the market proven EM2042 platform, sharing its successful next-generation acoustic architecture, while addressing two distinct operational needs.

Evolving its inspection business into a dedicated global provider of quality assurance and inspection services for energy, infrastructure and complex industrial supply chains.

Weatherford International plc has announced that its AMP™ all-electric intelligent completion system and MARS™ mature asset rejuvenation by surveillance system have been recognised with a Spotlight on New Technology Award at Offshore Technology Conference Asia (OTC Asia) 2026.

New up to 1500 HP motors deliver medium voltage performance in a low voltage package.

The collaboration will focus on optimising Viridien’s seismic imaging algorithms on NVIDIA accelerated computing platforms.

Marking a key milestone in the two companies’ strategic partnership.