Superior Energy Services has entered into a definitive agreement to acquire Welltec International, a Denmark-based provider of robotic, wireline-conveyed well intervention solutions and metal expandable packer technologies.
Unique Group, a global provider of subsea technologies and engineering, has entered a strategic partnership with The USV Group to support wider adoption of uncrewed surface vessels (USVs) across commercial survey and marine applications.
Prices for fuels and lubricants for personal transport in the European Union (EU) rose 23.8 per cent year-on-year in August 2026, accelerating from increases of 13.7 per cent in June and 16.9 per cent in July, according to Eurostat.
The value of the European Union’s petroleum oil imports surged 55.8 per cent in the second quarter of 2026, while volumes remained broadly stable, rising 1.2 per cent to a monthly average of 36.7 million tonnes, according to Eurostat.
US President Donald Trump has proposed a $10 billion fund to rebuild war-damaged energy infrastructure and develop oil and gas export routes that bypass the Strait of Hormuz, with $5 billion in US funding and a matching $5 billion contribution from Gulf and other regional partners.
Surging electricity demand from AI, data centres, and industrial electrification is colliding with geopolitical instability, infrastructure constraints, and persistent energy gaps, according to the World Energy Council’s 2026 World Energy Trilemma report.
MOL has finished rebuilding the AV3 crude oil distillation unit at its Danube Refinery in Százhalombatta, following a fire last autumn. Completed on schedule with an 18-billion-forint ($57 million) budget, the project enables the refinery to resume full capacity, boosting regional fuel security.
China National Offshore Oil Engineering has announced the groundbreaking of its biggest international offshore project - Bul Hanine EPIC in Qatar - with a total contract value of $4 billion. The project is being developed in the country's Bul Hanine oilfield by QatarEnergy.
AMPO POYAM VALVES has secured a contract to supply specialised cryogenic gate, globe, and check valves for the Power, Capture and Compression (PCC) Project, a key component of the Net Zero Teesside (NZT) initiative in North-East England.
Global renewable capacity hit 5.15 terawatts in 2025, driven by a record 693 gigawatts of new additions. However, a new report warns that annual growth must nearly double to 1,200 gigawatts to achieve the 2030 target of 11.2 terawatts, according to a new report released during Climate Week NYC.
