08 Jun OilandGasPress Energy Newsbites and Analysis
(Oilandgaspress) Ukrainian forces struck oil facilities in Russia and occupied Ukraine, Ukrainian and Russian officials said on Monday
Israel said it hit an Iranian petrochemical plant, along with strikes elsewhere on military targets, despite U.S. President Donald Trump warning Israeli Prime Minister Benjamin Netanyahu to refrain from additional attacks. Iran retaliated this morning with waves of attacks, and explosions could be heard in central Israel as Israeli air defenses sought to intercept incoming Iranian fire. Trump described the first Iranian strikes on Israeli soil since April as ‘unhelpful’ to the peace process and called for calm between the two nations.
Iran reportedly threatened to strike energy infrastructure in neighbouring countries and the broader region if Israeli attacks on Iranian energy facilities continue, as the two sides exchanged strikes on petrochemical sites on Monday.
An unnamed source told IRGC-affiliated Fars News Agency that any further strikes on Iran’s energy facilities would trigger attacks on energy assets of the US, Israel and their regional partners.
The source said oil companies and energy firms operating in the region with US or Israeli shareholders were considered legitimate targets.
Venezuela has reportedly emerged as an increasingly attractive source of energy to India.
India received a parcel of Venezuelan oil in April after a yearlong hiatus as Washington eased sanctions on the OPEC producer. The shipments climbed to about 283,000 bpd in April, the highest since March 2020, according to data compiled by Kpler. India’s economy grew 7.8% year-on-year in Q4FY26, and 7.7% YoY in FY26, according to the provisional estimates released by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday.
Touchstone Exploration Inc. announced that, further to the Company’s announcement dated June 4, 2026 regarding the Fundraise, the Company has initially raised aggregate gross proceeds (before expenses) of US$10.9 million (approximately £8.1 million and C$15.0 million) at the Issue Price of 7 pence per New Common Share (equivalent to approximately C$0.13 per New Common Share).
Of the aggregate gross proceeds raised to date, approximately US$10.3 million (approximately £7.7 million and C$14.3 million) is being subscribed for by the Company’s largest shareholder, Purebond Limited (“Purebond”), by way of the aggregate of the First Tranche Subscription Shares and the Debt Securities (each as defined in the Fundraise Announcement, which also provides further details of the Subscription Agreement).
The WRAP Offer remains open for participation and a further announcement will be made upon its closing confirming, inter alia, the final aggregate number of New Common Shares to be issued, allocations to Purebond, and related party transaction disclosures.
Canaccord Genuity Limited acted as Nominated Adviser and Lead Bookrunner and Cavendish Capital Markets Limited acted as a Joint Bookrunner in connection with the Placing. Canaccord Genuity Corp. acted as Canadian Adviser in respect of the LIFE Offering. . . Related News
SBM Offshore announces that it has entered into a shareholders’ agreement with its long-standing business partner Nippon Yusen Kabushiki Kaisha (NYK) with the intention to divest a 45% ownership interest in the special purpose companies related to the lease and operation of the FSO Chalchi. SBM Offshore will remain the majority shareholder with 55% ownership interest. The divestment remains subject to several conditions precedent and approvals.
FSO Chalchi is currently under construction and will be operated under 20-year lease and operate contracts with Woodside Energy through its affiliate in Mexico, Woodside Petróleo Operaciones de México, S. de R.L. de C.V. (Woodside).
The new build FSO is based on a Suezmax-type hull and will be equipped with a Disconnectable Turret Mooring system designed by SBM Offshore. The FSO will be moored in water depth of about 2,500 meters and will be able to store around 950,000 barrels of crude oil.
The FSO will be deployed at the Trion field, located 180 km off the Mexican coastline and 30 km south of the US/Mexico maritime border. The Trion project is a joint venture between Woodside (60%, Operator) and Petróleos Mexicanos (40%, non-Operator). . Related News
SBM Offshore and Solstad Offshore have formed a joint venture, which has entered into a Letter of Intent with a selected shipyard to order a new-build next-generation multi-purpose deepwater installation and construction vessel. The new vessel is targeted for delivery in the first half of 2029.
The new vessel will support the installation of ocean infrastructure, including FPSOs, and reflects the Company’s ambition that ocean infrastructure will contribute to drive a sustainable blue economy.
The new installation vessel builds on the operational success of Normand Installer and the existing partnership combining SBM Offshore’s installation expertise with Solstad Offshore’s track-record of offshore support vessel operations. The vessel features an optimized design to install ocean infrastructure in shallow and deepwater… Related News
SBM Offshore announces that it has been awarded contracts by Petróleo Brasileiro S.A. (Petrobras) for two FPSO projects located in the Sergipe-Alagoas basin, located in the northeastern part of Brazil. Under these contracts, SBM Offshore will design, build and operate FPSOs SEAP-I and SEAP-II. The consortia led by Petrobras will own the FPSOs and SBM Offshore will operate them for an initial period of 6.5 years under separate operations and maintenance contracts.
The design of both FPSOs is based on SBM Offshore’s leading Fast4Ward® program that incorporates the Company’s 11th and 12th new build, multi-purpose floater hulls.
The SEAP-II FPSO (P-87) will be designed to produce 120,000 barrels of oil per day, will have associated gas treatment capacity of 425 million standard cubic feet per day and water injection capacity of 120,000 barrels per day. Delivery of the FPSO is expected in 2030. The FPSO will operate in the Sergipe-Alagoas basin offshore Brazil, approximately 80 kilometers off the coast and spread moored in approximately 2,500 meters water depth.. Related News
3t has had a strong start to the year and even with the ongoing crisis in the Middle East has reaffirmed its 2026 outlook and strategic direction, as CEO Frode Nilsen marks six months in the role.
After a number of strategic acquisitions 3t has established itself as a global leader in safety critical training by serving industries including oil and gas, renewables, utilities, gas, power and water. 3t is now training more than 200,000 delegates per year across the UK, Middle East and Americas. With approximately 90% of revenues derived from mandatory training requirements, the business operates from a resilient and recurring revenue base.
Trading in the first quarter was strong. The business renewed major UK Managed Services contracts, recorded a record month for online training bookings, and saw its Technologies service line deliver its strongest quarter to date.
In the Middle East, 3t performed well ahead of the prior year in January and February before the outbreak of regional conflict impacted activity in March. The business views this disruption as temporary. Mandatory safety training is a regulatory requirement, and with market conditions in the region remaining fundamentally strong, 3t expects a gradual recovery through the second half of the year.
In the US, 3t has focused on increasing its market share and delegate volumes with the company now growing its course offering beyond oil and gas sector training. The demand is projected to grow over the next two years.
A central part of Nilsen’s plan is accelerating 3t’s expansion beyond its traditional markets. The business is increasing its focus on adjacent sectors where demand for safety-critical training is growing, particularly the UK power and utilities sectors. 3t brings together specialist capabilities across training management, simulation and digital learning, giving the business the tools to serve these markets effectively and without significant additional investment. …Related News
Velesto Energy Berhad announced that its wholly-owned subsidiary, Velesto Sumber Sdn. Bhd., has secured a contract award from Northern Gulf Petroleum Pte Ltd (‘NGP’) for the provision of jack-up drilling rig services and associated services offshore Thailand.
Under the contract, Velesto will provide NAGA 6 for a drilling campaign located in the Gulf of Thailand. The firm work scope comprises four (4) infill wells and three (3) exploration wells.
Megat Zariman Abdul Rahim, President of Velesto, said, “We appreciate the confidence placed in Velesto by NGP. The award supports the continued utilisation of our premium jack-up rigs and is expected to contribute positively towards earnings.
The contract award further strengthens Velesto’s drilling segment and reflects continued ability to secure opportunities across our core operating markets amid ongoing offshore development and exploration activities in the region.” Related News
Heirs Energies Limited has been recognised on the global stage after its landmark US$750 million dual-tranche Senior Secured Reserve-Based Lending (RBL) facility was named Best Oil & Gas Deal of the Year at the EMEA Finance Project Finance Awards 2026.
The award was presented on 3 June 2026 in London and recognises one of the largest financings secured by an indigenous African energy company. The transaction reflects the vision of Heirs Energies’ Chairman, Tony O. Elumelu, CFR, that African institutions and African-led businesses can successfully mobilise capital to unlock the continent’s resources, advance energy security, and create long-term economic value.
Executed with the African Export-Import Bank (Afreximbank), the US$750 million financing was structured to accelerate field development, optimise production, and support Heirs Energies’ long-term growth ambitions, while maintaining disciplined capital management.
Commenting on the recognition, Osa Igiehon, Chief Executive Officer of Heirs Energies, said:
“This recognition reflects the confidence that African and international financial institutions continue to place in Heirs Energies, our strategy, and our long-term vision.
The transaction demonstrates that indigenous African energy companies can successfully structure and execute world-class financing solutions that support investment, growth, and value creation. We are proud to receive this award and grateful to our financing partners, advisers, and stakeholders whose support made it possible.” Related News
Emerson announced it will co-develop next-generation corrosion management solutions for the Saudi Arabian Oil Company (Aramco), one of the world’s leading integrated energy and chemicals companies.
For Aramco, corrosion management is a strategic priority tied directly to operational performance, safety and environmental responsibility. Continuous corrosion monitoring eliminates difficult, inefficient and dangerous manual corrosion measurements and provides a reliable digital data stream for improved decision making.
As part of the corrosion research and development collaboration, Aramco will combine its expertise and intellectual property with Emerson’s advanced corrosion solutions to digitalize and transform corrosion management. Emerson will provide its technology leadership in ultrasonic online corrosion monitoring technology; seamless wireless connectivity for corrosion wall thickness monitors, and real-time and continuous data collection to develop a fit-for-purpose corrosion management solution for Aramco processes. Related News
Emerson announced the release of PEX liners for its Rosemount™ 8750W Magnetic Flow Meter, Rosemount 8705 Flanged Magnetic Flow Meter, and Rosemount MS Magnetic Flow Meter sensors designed for water/wastewater and other slurry or abrasive applications. The new PEX liner gives users a longer lasting, PFAS‑free, and more cost effective flow meter solution that simplifies stocking and compliance while improving reliability in chemically aggressive conditions.
Existing liner solutions have relatively poor wear resistance to both chemical attack and abrasive slurries, emitting harmful chemicals as they wear. These solutions are also expensive to purchase and maintain, with liner flaring often occurring if meters are not installed promptly or removed temporarily and then reinstalled. Existing solutions also present stocking and inventory challenges, because different applications require different liner types, an issue compounded by their relatively high cost. Related News
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Submit your Releases or contact us now!, victor@oilandgaspress.com
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