Latest European Fuel & Oil News
Recent stories driving EU fuel supply, prices, and reserve levels.
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Europe’s Russia Sanctions Have a Major Blind Spot
Over the last two years, the EU and UK have emerged as leading actors in imposing sanctions on Russia. But people like Maria Demertzis, Professor at the European University Institute in Italy, have raised questions aroun
Read full article →The AI Boom Could Triple Data Center Water Use by 2030
The massive data center capacity scale-up underway has focused attention on the scale of water required for these facilities to operate. Rystad Energy estimates that without water-saving measures in place, global water c
Read full article →Venezuela Helped Build OPEC. Now It May Help Break It Apart
Venezuela helped create OPEC. More than six decades later, it is considering walking away, and Washington appears perfectly happy to hold open the door. Caracas is weighing whether to leave the Organization of the Petrol
Read full article →Russia’s Energy Crisis Puts Kazakhstan in a Tough Spot
Kazakhstan is trying to keep the Kremlin at arm’s length amid Russian efforts to lean on Central Asian states for help in bolstering Moscow’s staggering war economy. Ukraine’s ongoing drone campaign has inflicted severe
Read full article →The Iran War Has Turned VLCCs Into $650,000-a-Day Assets
More Gulf oil is moving again. Getting it out now costs a fortune. Earnings on the benchmark Saudi Arabia-to-China supertanker route surged to a record $647,000 per day on Thursday, according to Baltic Exchange data cite
Read full article →U.S. Oil Rig Count Falls by 5 as Gas Rigs Rise
The total number of active drilling rigs for oil and gas in the United States stayed the same this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US staying at 588, up
Read full article →Gas Prices in Asia and Europe Jump as Qatar Extends LNG Force Majeure
Natural gas prices in Asia and Europe jumped on Friday as the market digested reports that Qatar has extended the force majeure on its LNG deliveries into November amid still blocked transits through the Strait of Hormuz
Read full article →Oil Shrugs Off Trump’s ‘Toughest Sanctions in History’
Oil holds near $90 despite sweeping Iran sanctions as uncertainty over Hormuz transits keeps markets on edge. Friday, August 28, 2026 The US announcement of ‘toughest sanctions in history’ against Iran did relatively lit
Read full article →Ukraine Drones Spark Fire at Russian Refinery as Fuel Crisis Worsens
Ukraine’s forces struck the Slavneft-YANOS oil refinery in Yaroslavl, Russia, early on Friday, with drones causing a fire at the facility, the Ukrainian General Staff said, as Ukraine continues to pound Russia’s refining
Read full article →Qatar Extends Force Majeure as Hormuz Crisis Still Blocks LNG Traffic
Qatar’s state-owned QatarEnergy has extended by several weeks its force majeure on LNG deliveries to customers as the LNG flows at the Strait of Hormuz remained blocked despite increased oil flows. QatarEnergy has notifi
Read full article →Trump Dismisses NATO Attack Fears After CIA Chief’s Moscow Trip
US President Donald Trump told reporters that he does not believe Moscow will attack a NATO nation amid rising concerns that Russian President Vladimir Putin will strike a Baltic country or other member state to test the
Read full article →Amazon Nears 1 GW of Wind Power in Sweden With Four New Deals
Amazon has expanded Germany’s largest-ever power purchase agreement (PPA), signed in June, and announced another four deals to buy power from four wind farms in Sweden as the e-commerce giant and other electricity-intens
Read full article →Hormuz Shipping Remains Subdued Despite Apparent Reopening
Politics, Geopolitics & Conflict Hormuz is “open”, but nowhere close to functioning normally. The U.S. has cleared mines from the internationally recognized shipping lanes and can technically get vessels through, but Ira
Read full article →The Iran War Has Handed Russia a Strategic Opening in Europe
The war with Iran has handed Russia a strategic advantage in Ukraine. Washington is burning through the weapons Europe needs to deter Russia, moving military capacity into the Gulf and simultaneously telling NATO governm
Read full article →Oil Selloff Outruns Reality in Hormuz
WTI crude oil futures were trading at $83.51 late Thursday, down $3.13, or 3.61%, for the week. The market opened near the weekly high at $86.57, then broke to $79.62 as traders sold on reports that Iran, Oman and the Un
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Energean plans to buy bp’s Egyptian oil and gas assets for $1bn
Energean is in exclusive discussions with BP to purchase a selection of the British company’s upstream oil and gas holdings in Egypt, reported Reuters, citing two people involved in the process.
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Acerta to expand liquids-rich Alberta production with Astara deal
Acerta Energy has agreed to acquire rival Canadian oil and gas firm Astara Energy in a transaction valued at approximately C$127m ($91.55m), including assumed net debt.
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Enbridge, KKR form joint venture for Westcoast pipeline expansion
Enbridge and KKR have agreed to form a joint venture (JV) that will provide funding for the Aspen Point and Sunrise Expansion Programmes of the Westcoast natural gas pipeline system in British Columbia (BC), Canada.
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TotalEnergies exits Arctic LNG 2 with 10% stake sale to NordLine
TotalEnergies has completed the transfer of its 10% interest in the Arctic LNG 2 project in Russia’s Gydan Peninsula to NordLine, a subsidiary of Novatek.
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Fire at Russia’s Amur petrochemical complex causes multiple casualties
A fire accident broke out at the Amur Gas Chemical Complex (AGCC) in Russia’s far eastern Amur region, killing seven people, including six Chinese nationals, reported Reuters.
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CNOOC H1 2026 net profit rises 23.4% to $12.76bn
China National Offshore Oil Corporation (CNOOC) has reported a net profit attributable to equity shareholders of 85.8bn yuan ($12.76bn) for the first half of 2026 (H1 2026), marking an increase of 23.4% compared with 69.
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Enbridge to acquire Salt Creek Midstream’s crude assets for $600m
Canadian midstream company Enbridge has reached a deal to acquire Salt Creek Midstream's crude oil gathering business in the US for $600m in cash.
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Aker BP begins production from Skarv Satellites in Norwegian Sea
Aker BP has commenced production from the Skarv Satellite Project in the Norwegian Sea, bringing the Alve Nord, Idun Nord and Ørn fields online one year ahead of the initial schedule.
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Electrifying offshore: what is slowing rig electrification?
Energy Technology’s new episode asks why electrification of offshore oil and gas assets has been slow, despite offering decarbonisation wins.
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Equinor starts production at Troll phase three, stage two in North Sea
Equinor has begun production from the Troll Phase 3 stage 2 subsea project in the Norwegian North Sea, bringing additional gas to the Troll A platform.
Read full article →Weekly Fuel Security Briefing
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