Lock In Survey and Fuel Contingencies for APAC Offshore Projects

Home Fossil Energy Odfjell Drilling’s rig remaining with Norwegian oil & gas operator for another year July 17, 2026, by Odfjell Drilling, a 53-year-old offshore drilling player, has won a contract extension with Norway’s oil and gas player Aker BP for a 2019-built semi-submersible rig, which is working on the Norwegian Continental Shelf (NCS). Deepsea Nordkapp rig; Source: Odfjell Drilling Odfjell Drilling has received signed confirmation from Aker BP for the extension of the Deepsea Nordkapp rig’s firm contra

Deepsea Nordkapp rig; Source: Odfjell Drilling Odfjell Drilling has received signed confirmation from Aker BP for the extension of the Deepsea Nordkapp rig’s firm contract period by a year

The operating rate applicable to the extension shall be set by the end of 2026, using a rate reflective of market rates and defined by two independent rig brokers

Home Subsea Fugro to start offshore survey program in Timor-Leste this year July 17, 2026, by Dutch Fugro has won a contract to perform a survey program offshore Timor-Leste that will support the planning and development of critical offshore energy infrastructure associated with two gas developments. Source: Fugro Fugro will deliver an extensive offshore site characterization program, including geophysical, seismic and autonomous underwater vehicle (AUV) surveys for the Greater Sunrise and Bayu Undan development

“This award reflects our client’s confidence in Fugro’s ability to execute complex offshore survey programmes in challenging marine environments,” said Safri Drahman, APAC Regional Business Line Director at Fugro. “By combining advanced geophysical, seismic and AUV technologies with our strong regional expertise, we will deliver the critical Geo-data needed to support the safe and successful development of this strategically important energy infrastructure

Fugro will use AUV technology with real-time support from its remote operations centers to execute the work. Survey data will be processed and quality-controlled through the company’s regional data centers in Kuala Lumpur, Malaysia, and Perth, Australia

Refinery margins U

In 2Q26, we estimate jet fuel production was 24% higher than the five-year average because of higher refinery runs and higher jet fuel yields

Note: 2Q26=second quarter of 2026 Petroleum markets in the second quarter of 2026 (2Q26) were characterized by continued disruptions to international crude oil and petroleum product flows through the Strait of Hormuz, contributing to higher and more volatile crude oil prices through most of the quarter. The disruptions also resulted in international buyers seeking alternative supply sources for petroleum products, driving up U