Energy Giants Bet Big on Longer Oil Routes Amid Geopolitical Tensions

Global maritime and energy markets are experiencing significant developments that indicate an intertwined sector. Abu Dhabi's ADNOC investment arm, XRG, is reportedly considering acquiring up to 50% of Energos Infrastructure, a floating-LNG company valued at around $3 billion.

The acquisition would give XRG exposure to floating LNG import capacity, shipping, and long-term infrastructure contracts. This comes as shipowners have ordered more Very Large Crude Carriers (VLCCs) in 2026 than in any comparable period for the last 25 years, with estimates ranging from 164 to 217 orders worth over $20 billion.

The surge in VLCC orders is driven by persistent oil demand and geopolitical dislocation, particularly around the Hormuz and Red Sea chokepoints. This has led to increased ton-mile demand as Asian refiners seek optional access to crude from various regions.