Global energy and utilities companies are shifting investment priorities as aging infrastructure, rising demand and reliability concerns mount. An IFS study finds utilities increasingly prioritising grid resilience, energy storage, asset management and Industrial AI.
TWMA, an expert in drilling waste management, has secured a multi-million-dollar contract with a North Sea operator to provide offshore drilling waste management services for an upcoming drilling campaign in the UK North Sea.
International Energy Agency (IEA) has backed faster releases of emergency oil stocks agreed in March 2026, with members urging completion as soon as possible and prioritising diesel reserves amid tight markets. About 325 million barrels have been released, while another 100 million barrels could reach markets from outstanding commitments.
Equinor and its partners have discovered gas at the Gullfaks South field, 190 kilometres northwest of Bergen, with recoverable resources estimated at 0.5 million to 1.6 million standard cubic metres of oil equivalent, or 3.3 million to 10.3 million barrels of oil equivalent.
QatarEnergy, in partnership with Brazil’s Petrobras, has won seven offshore exploration blocks in Brazil’s 6th Concession Open Acreage Bid Round, expanding the Qatari energy company’s upstream presence in the country.
Bahrain’s Oil and Environment Minister Dr. Mohammed bin Mubarak Bin Dainah has called for deeper GCC industrial integration to strengthen competitiveness, resilience and sustainability, while promoting regional partnerships, value-added projects and green industries.
Oil prices rose on Thursday as markets continued to assess the impact of disruptions to shipping in the Gulf and the continuing conflict in the region.
Saudi energy company Tarshid said it has completed an energy efficiency retrofit project at Jazan University in the kingdom.
AMPO POYAM VALVES has secured a contract to supply more than 600 cryogenic ball valves for ADNOC’s Ruwais LNG project in Abu Dhabi, a major lower-carbon LNG development in the Middle East.
Framo, a marine and industrial pump expert, has signed a four-year service agreement with Petrobras covering pumping systems across approximately 30 floating production, storage, and offloading (FPSOs), marking the company’s largest service contract of its kind to date.
