27 Feb Energy / Automotive news and analysis 27/02/26
(Oilandgaspress) Oil prices up as U.S.-Iran Standoff Triggers Higher 2026 Forecasts. The potential for war premium, OPEC+ supply policy, and the fundamentals in supply-demand balances will determine the direction of oil prices this year.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $67.13 | Up |
| Crude Oil (Brent) | USD/bbl | $72.70 | Up |
| Bonny Light 27/02/26 CBN | USD/bbl | $72.94 | Up |
| Dubai | USD/bbl | $68.34 | Up |
| Natural Gas | USD/MMBtu | $2.84 | Up |
| Murban | USD/bbl | $72.19 | Up |
| OPEC basket 26/02/26 OPEC | USD/bbl | $69.64 | Up |
| At press time February 27, 2026 . |
Woodside’s Trion project, the first deepwater oil development in Mexico’s history, reached 50 per cent completion at year end, with the critical infrastructure that will power the project now taking shape around the world. In shipyards in Korea and China, the two floating facilities are being built, thousands of kilometres from their final offshore destination in Mexico. Thousands of pieces of equipment and components are being assembled into massive steel blocks the size of buildings, before being lifted, integrated and tested.
VP Trion Stephane Drouaud recently visited key construction and fabrication sites to witness that progress firsthand. Related News
Simo Sääskilahti, a proposed new member of the Board of Directors of Neste Corporation, has announced that due to reasons not attributable to him, he will not be available for election in the Annual General Meeting (AGM) to be held on 25 March 2026.
The Nomination Board had, according to the stock exchange release published on 19 December 2025, proposed Sääskilahti to be elected as a new member of the Board and that the Board shall have nine members. According to the published Nomination Board’s proposal, should one or more of the candidates proposed by the Nomination Board not be available for election to the Board of Directors for any reason, the proposed number of Board members shall be decreased accordingly, and the remaining available candidates are elected in accordance with the proposal by the Nomination Board.
After Sääskilahti’s announcement, the proposal of the Nomination Board therefore remains valid however so that the Board shall have eight members instead of nine, and the remaining available candidates are elected in accordance with the proposal by the Nomination Board. The updated proposal concerning the Board composition is therefore compliant with the recommendation for balanced representation of women and men set out in the Corporate Governance Code and with the goal of 40% for the minimum number of members of the underrepresented gender under Chapter 6, Section 9a of the Limited Liability Companies Act. .Related News
The Maritime Standard has announced the launch of TMS AITECH 2026, its dedicated Artificial Intelligence and Technology Conference, which will be held on 14 April 2026 at Taj Exotica Resort, Dubai.
TMS AITECH 2026 will explore how artificial intelligence, digitalisation, and advanced technologies are transforming global transport and trade, with a special focus on the maritime and logistics sectors. The conference will highlight the integration of automation, sustainability, and resilience in operational decision-making, where intelligence enhances both efficiency and environmental responsibility. From autonomous vessels and smart port operations to green shipping corridors and AI-powered emissions monitoring, the event will showcase innovative solutions that are redefining competitiveness, safety, and sustainability across the transport value chain.
The event will bring together senior representatives from ship owning companies, port authorities, logistics organisations, technology providers, regulatory bodies, and investment groups. Through keynote presentations and expert panel discussions, the programme will provide practical insight into how digital transformation is being implemented across fleets, ports, supply chains, and multimodal transport networks. Related News
Nebras Energy Q.P.S.C. reportedly announced the successful finalization of its negotiations with ENGIE S.A. for the acquisition, through its wholly owned subsidiary Ras Laffan Operating Company, of the equity interests held by ENGIE S.A.’s subsidiaries in Qatar Power and Ras Girtas Power.
In a statement today, Nebras Power explained that the negotiations resulted in the parties agreeing to enter a Sale and Purchase Agreement between Ras Laffan Operating Company (ROC) and International Power (Ras Laffan B) Limited (IPL), a wholly owned subsidiary of ENGIE, pursuant to which IPL has agreed to sell, and ROC has agreed to purchase, 40% of the entire issued share capital of Qatar Power.
A Sale and Purchase Agreement between ROC and Kahrabel FZE (Kahrabel), a wholly owned subsidiary of ENGIE, pursuant to which Kahrabel has agreed to sell, and ROC has agreed to purchase 50% of the entire issued share capital of RLC Power Holding Company Limited., representing 40% of the share capital of Ras Girtas Power Company.
Upon completion, Nebras Energy will increase its ownership from 55% to 95% in Qatar Power, and from 45% to 65% in Ras Girtas Power. Related News
Olav Magnus Linge has been appointed new Executive Vice President (EVP) for Communication & Public Affairs, at Hydro, effective April 1, 2026.
Linge succeeds Therese Rød Holm who, after five years, has decided to step down from her current role as EVP for Communication & Public Affairs to take on the new role as Senior Vice President, Head of Group Internal and Leadership Communication in Hydro.
Linge joined Hydro in 2021, and comes from the role of Vice President, Head of Government Affairs Norway. Linge’s background includes positions as a political advisor in the Norwegian government and parliament. He holds a Master’s in History from the University of Oslo. Related News
Mitsubishi Heavy Industries Compressor Corporation (MCO), a part of Mitsubishi Heavy Industries (MHI) Group, has acquired all shares of AST Turbo AG (AST), a Swiss company specializing in rotating equipment maintenance services, as of February 27.
AST is engaged in maintenance, inspection, and field services for rotating equipment such as compressors and steam turbines that drive compressors, used in resource and energy development sites, including in the oil and gas sectors. The company has highly experienced technical supervisors and advanced engineering capabilities, such as virtual assembly technology utilizing 3D laser measurement(*1). AST has a proven track record of projects in Europe, North America, the Middle East, and other regions worldwide. Through this acquisition, MCO aims to strengthen its field service system in international markets. Related News
India is undertaking “Mission Samudra Manthan,” a multi-pronged initiative to fortify its energy security against geopolitical shocks and import dependence. The plan accelerates deepwater exploration, aiming to quintuple annual well drilling to 100 by 2027, and expands strategic petroleum reserves by 6 MMT to approach a 90-day import buffer. The plan aims to increase domestic hydrocarbon production and augment reserves to a 90-day buffer, reducing import dependence and mitigating global oil price shocks. This plan has ambitious targets. Hydrocarbon reserve accretion is projected to increase from about 1.6 billion tonnes of oil equivalent (BTOE) today to 2 BTOE by 2035 and 5 BTOE by 2047. Domestic crude production is targeted to rise from roughly 29 MMT to 35 MMT by 2030 and to 100 MMT by 2047. Natural gas output is expected to increase from about 36 BCM to 45 BCM by 2030 and further to 100 BCM by 2047.Read More
Porsche and Capcom are teaming up to bring the Cayenne Turbo GT into the world of Resident Evil™ Requiem. Launching on February 27, 2026 for PC and consoles, the game follows the iconic main character Leon S. Kennedy — with the Cayenne Turbo GT acting as his trusted companion. In Resident Evil Requiem, players accompany Leon S. Kennedy on a dangerous investigation in a mysterious setting. The Porsche Cayenne Turbo GT is his vehicle of choice, because its performance, design, and presence mirror the protagonist’s determination and distinctive style.The partnership extends beyond the digital world. Porsche has developed a one-of-a-kind Cayenne Turbo GT show car featuring specially designed add-on parts created together with Capcom. The vehicle made its public debut on February 19 in Los Angeles Related News
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