OceanSTAR Engineering, a subsidiary of OceanSTAR Elite, has entered into a long-term contract with Petronas for the provision of lease, operation and maintenance of a floating production storage and offloading (FPSO) unit supporting the Sepat Integrated Redevelopment Project offshore Terengganu in Malaysia.The contract comprises a 15-year firm charter period with extension options.
Malaysia’s oil and gas services firm Velesto has secured a five-year drilling contract from Petronas for its NAGA 2 jack-up rig.Under the contract
Arabian Drilling has reactivated two rigs that were recalled in the fourth quarter of 2025 and launched its first international offshore contract within the Gulf Cooperation Council region-based
Qatar halted its production of liquefied natural gas on Monday as Israeli and U.S. strikes against Iran and Tehran's retaliation prompted precautionary shutdowns of oil and gas facilities across the
India began rationing natural gas on Tuesday while countries around Asia looked to the spot market to replace supplies, activated emergency plans and prepared to step up production
China is the world's largest energy importer and would therefore appear vulnerable to the surge in crude oil and natural gas prices from the conflict between Israel and the United States against Iran.
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