FLNG Hilli Episeyo/Source: CoreMarine On 13 April 2026, Jumbo Offshore (a subsidiary of the Jumbo Group) and CoreMarine were awarded a contract to transport and install a Soft Soft Yoke (SSY) mooring system and connect two Floating Liquefied Natural Gas (FLNG) vessels in the Gulf of San Matías, Argentina. The contract was awarded by Southern Energy SA (SESA). Ben Fitzgerald, Chief Executive Officer of CoreMarine, commented: “Projects of this nature rank among the most complex in offshore construction. Moving, positioning and permanently installing floating assets at this scale requires absolute precision, extensive experience and flawless offshore execution. This is where CoreMarine and Jumbo Offshore truly deliver value.” The project is being developed by Argentina’s state-owned oil company YPF, Italian energy major Eni, and XRG, with Southern Energy SA (SESA) serving as the operator. Division of Responsibilities Between CoreMarine and Jumbo Offshore： Jumbo Offshore: Responsible for the transportation and heavy lifting Read more
April 14, 2026
Source: egyptoil-gas Baker Hughes is accelerating the deepening of its strategic cooperation with the Egyptian Ministry of Petroleum and Mineral Resources (MoPMR). Amro Ismail Elsharkawi, Regional Director of Baker Hughes Egypt, revealed in an interview with Petrocast, a podcast under the Egyptian Regulatory Authority for Petroleum and Gas, on April 12 that the company is conducting a feasibility study for an underground natural gas storage project jointly with MoPMR and Egyptian Natural Gas Holding Company (EGAS). The move aims to fully leverage Egypt’s geological advantages to build it into a regional natural gas hub. This initiative also focuses on improving natural gas production efficiency through advanced digital platforms, safeguarding national energy security, and optimizing the value of domestic resources. Baker Hughes As a world-leading energy technology company, Baker Hughes is a top-tier strategic partner of the Egyptian Ministry of Petroleum and Mineral Resources. The company actively participates in Egypt’s energy Read more
April 13, 2026
Image Source: Subsea 7 After a public tender by Petróleo Brasileiro S.A. (Petrobras), Subsea 7 has been confirmed to have won the contract for the Sépia 2 project awarded by Petrobras. The contract value is defined as “Supermajor”, i.e., exceeding 1.25 billion US dollars. This project is one of the largest expansion phases of Brazil’s pre-salt oilfields and has core strategic significance for Brazil’s energy development. Under this project, Subsea 7 will participate in the development of the Sépia 2 oilfield, located in the pre-salt layer of the Santos Basin, approximately 280 kilometers southeast of Rio de Janeiro, Brazil, with a water depth of 2,170 meters. Yann Cottart, Senior Vice President of Brazil and Western Global Project Centers, commented: “This contract strengthens Subsea 7’s project portfolio in Brazil and consolidates the cooperative relationship we have established with Petrobras in pre-salt oilfields.” Sépia 2 The Sépia 2 oilfield is located approximately Read more
April 11, 2026
The Baltic and International Maritime Council (BIMCO) reported that global crude oil tanker orders have hit a 17-year high, with the contracting volume of crude oil tankers also setting a historic record. According to the latest data from institutions such as BIMCO and Clarksons as of April 2026, Very Large Crude Carriers (VLCC) and Liquefied Natural Gas (LNG) carriers remain the core focus of the shipbuilding market. VLCC Market Updates (2026 Latest Overview) Surge in Orders: The first quarter of 2026 recorded the highest quarterly contracts for crude oil tankers in history. South Korean Shipyards’ Strength: Hanwha Ocean of South Korea secured multiple VLCC orders within just two weeks in early April, indicating that South Korean shipyards still maintain a strong momentum in the high-end oil tanker sector. Sino-South Korean Shipyard Competition Pattern: Chinese shipyards, including Dalian Shipbuilding, Waigaoqiao Shipbuilding, and Hengli Heavy Industry, have performed robustly, actively winning a Read more
April 10, 2026
Source: Rosatom State Atomic Energy Corporation In early April 2026, Moscow and Cairo reaffirmed their commitment to strengthening cooperation on the construction of El Dabaa Nuclear Power Plant, Egypt’s first nuclear power plant, and confirmed that the project has become a “main pillar” of Russian-Egyptian bilateral relations. Latest Diplomatic Developments High-level Meeting: From April 3 to 4, 2026, Badr Abdelatty, Minister of Foreign Affairs of Egypt, visited Moscow and held meetings with Russian President Vladimir Putin, Deputy Prime Minister Alexei Overchuk, and Foreign Minister Sergey Lavrov. Foreign Ministry Statement: On April 7, Russian Deputy Foreign Minister Georgy Borisenko stated that the El Dabaa Nuclear Power Plant is currently the world’s largest nuclear power construction project, and the two sides plan to further intensify construction efforts. Overcoming Challenges: Despite sanctions and supply chain pressures, both sides confirmed the project is proceeding on schedule. Unit 1 is expected to be completed and connected to Read more
April 9, 2026
April 8, 2026 WTI Crude Oil (US) Previous Close: $112.95 Open: $108.74 High: $109.19 Low: $91.05 Brent Crude Oil Previous Close: $109.27 Open: $95.00 High: $96.27 Low: $91.70 International (USD)Current Oil PriceToday’s OpenPrevious CloseToday’s HighToday’s LowWTI Crude Oil (US)94.75112.95108.74109.1991.05Brent Crude Oil94.48109.2795.0096.2791.70 WTI Crude Oil Price Plunge: A Rapid Correction of Geopolitical Expectations, Not a Fundamental Reversal WTI crude oil prices plummeted by nearly $20 at one point, a drop of approximately 16%, hitting a low of $91.05 per barrel—its lowest level since March 26. The core driver behind this sharp decline in international oil prices is not a sudden deterioration in the supply-demand fundamentals of crude oil, but a rapid correction in the market’s extreme risk expectations regarding the Middle East geopolitical conflict. This represents a typical unwinding of risk premiums and a concentrated clearing of speculative sentiment, rather than a fundamental reversal of the long-term pricing logic in the oil market. Against the backdrop of the preceding Read more
April 8, 2026