Gulf Export Infrastructure Returns as Equinor Retreats from Asia Pacific Offshore Wind

Executive Summary

Gulf export infrastructure is returning to operations as Saudi Aramco resumes Ras Tanura loading, while ADNOC aggressively sells June cargoes — signalling the first credible mobilisation window for Gulf offshore projects since February. Simultaneously, Equinor's exit from Japan and Vietnam offshore wind releases 80-120 subsea-capable engineers back into the O&G talent pool, marginally easing retention pressure for Southeast Asian operators.

Gulf Crude Terminals Resume After Four-Month Shutdown

Saudi Aramco has resumed crude loading at the Ras Tanura Ju'aymah offshore terminal on the Persian Gulf side, ending a shutdown lasting nearly four months since early March 2026. Shipping data confirms two Bahri-operated VLCCs loading (each 2 million barrels capacity), a third waiting nearby, and a fourth en route. The terminal had been forced offline when the Hormuz closure rerouted all Saudi exports through Yanbu on the Red Sea. Concurrently, ADNOC has sold at least 48 million barrels through three independent June tenders, signalling Gulf-side export infrastructure is operational across the Arabian littoral.

Equinor Walks Away from Japan Offshore Wind — and Asia Pacific

Equinor has formally exited the Japanese offshore wind market, closing its Tokyo office by end-2026. The Norwegian state-major entered Japan in 2018 but failed to secure any lease area across multiple auction rounds. It has cancelled its 2030 renewable capacity target (10–12 GW) and will allocate only 10% of group capex to power. This follows prior exits from offshore wind in Vietnam, Spain and Portugal, all attributed to cost escalation and deteriorating project economics.