Malaysia’s oil and gas services firm Velesto has secured two contracts from Sabah Shell Petroleum Company (SSPC), a subsidiary of Shell, to support its deepwater operations offshore Sabah in Malaysia.The contracts were awarded to Velesto’s subsidiary, Velesto Workover, and cover comprehensive maintenance services for top tension risers at a tension leg platform operated by Sabah Shell Petroleum.
Asia depends on oil and gas from the Middle East, sourcing 60% of its crude from the region, making it highly vulnerable if the Iran war causes a prolonged closure of the Strait of Hormuz supply
OceanSTAR Engineering, a subsidiary of OceanSTAR Elite, has entered into a long-term contract with Petronas for the provision of lease
China set an annual oil output target of 200 million metric tons (4 million barrels per day) in its next five-year plan on Thursday, a level it already surpassed last year
Subsea7 has secured a large variation order by Turkish Petroleum Offshore Technology Center AS (TP-OTC) relating to the Sakarya field development in the Black Sea, offshore Türkiye.
Oil prices rose 3% on Wednesday as the U.S.-Israeli war on Iran disrupted Middle East supplies, but the pace of gains slowed from past sessions after President Donald Trump suggested the U.S.
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