Latest European Fuel & Oil News
Recent stories driving EU fuel supply, prices, and reserve levels.
This week's top supply-risk themes
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India's 97 GW Coal Expansion Plan Looks Too Small, Senior Official Says
India may need to revise up its planned new coal-fired capacity installations through 2035 amid soaring electricity demand that needs grid stability and flexibility, a senior Indian official said on Tuesday. Last year, I
Read full article →Saudi Arabia Becomes the Oil Market’s Biggest Wild Card
Houthi attacks threaten Saudi oil infrastructure and Gulf shipping as Brent hovers near $105 per barrel. Trump’s Fuel-Price Problem Is Becoming a Political One - The Trump administration’s Russia diesel deal has failed t
Read full article →Japanese Refiners Buy Middle East Crude Through Ship-to-Ship Transfers
Several Japanese oil tankers are returning to the Middle East to pick up crude cargoes for Japan’s refineries, but none of these are moving into the Persian Gulf through the Strait of Hormuz. Instead, a rising number of
Read full article →Trump Defends Russian Diesel Deal as Energy Ceasefire Claims Unravel
US President Donald Trump, in the face of sharp criticism from officials in Ukraine, Europe, and even his Republican party, defended his decision to allow Russian diesel exports and insisted an energy cease-fire between
Read full article →Super El Niño Could Ease Asia’s LNG Supply Concerns
The super El Niño is expected to raise the winter temperatures in South Korea, Japan, and parts of China, potentially easing the gas supply needs in these key Asian LNG importers and leaving more cargoes for Europe, whic
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BW Energy lands $208m Gabon platform lease and extends RCF
BW Energy has secured $208m in project-level lease financing for the Akoum WHP planned for the Bourdon field offshore Gabon.
Read full article →Pakistan Faces $1 Billion LNG Bill This Winter
Pakistan will have to pay in excess of $1 billion to secure LNG supply for the winter months, as spot prices soar amid massive disruptions to Qatari term supply. The price tag will be fueled by the spot LNG prices in Asi
Read full article →Japan to Compensate Oil Importers for High Shipping Costs
The Japanese government on Tuesday approved three bills to boost diversification of oil supplies and energy security, including grants to compensate Japan’s oil importers for the high shipping costs to procure supply fro
Read full article →Saudi Arabia Shoots Down Houthi Missiles as Regional Conflict Escalates
A day after the two consecutive deadly attacks on the international airport in Riyadh, Saudi Arabia intercepted and destroyed two ballistic missiles launched by the Iran-aligned Houthi group in Yemen as the Saudi-Houthi
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Technip Energies wins EPC contract for HPCL Mumbai refinery upgrade
Technip Energies has secured an engineering, procurement and construction (EPC) contract from Hindustan Petroleum Corporation Limited (HPCL) for a refinery upgrade programme at its Mumbai facility in the Indian state of
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Murphy Oil confirms oil pay in Côte d’Ivoire and Vietnam wells
US-based energy company Murphy Oil has disclosed a series of operational advances spanning offshore Côte d'Ivoire, Vietnam and the US Gulf of Mexico.
Read full article →Saudi Arabia Plans Massive Expansion of Oil Pipeline to Bypass Hormuz
Saudi Arabia plans to raise the capacity of its East-West onshore oil pipeline that helps it bypass the Strait of Hormuz to 10 million barrels per day (bpd) within two to three years, Saudi Energy Minister Prince Abdulaz
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Seadrill secures deepwater rig awards across four markets
Offshore drilling contractor Seadrill has secured a series of contract awards and extensions for its deepwater fleet in Indonesia, Malaysia, Angola, and the US Gulf of Mexico.
Read full article →IMF Warns Middle East War Could Derail Global Economic Growth
The energy crisis sparked by the war in the Middle East remains the biggest risk for the global economy, but investment in artificial intelligence provides grounds for optimism, the International Monetary Fund has said,
Read full article →Shell Slams Australia's Plan to Force LNG Producers to Supply Domestic Market
Shell has spoken out against a plan by the Australian government to ensure domestic gas supply by mandating LNG producers to reserve certain volumes of their output for domestic use. “Fundamentally, it's a sledgehammer t
Read full article →Oil Prices Retreat as Saudi Arabia Pledges to Keep Exports Flowing
Crude oil prices, which topped $106 per barrel yesterday, have eased today, as traders process the latest Houthi attacks on Saudi Arabia and the related risk to energy supply, while also waiting to see if the Russian die
Read full article →This Ultra-Rare Gas Could Become An Ace In Canada’s Hands
Back in July, the U.S. slapped an extra 50% duty on a wide range of Canadian exports, including items like dairy, alcohol and cement, with the Trump administration citing alleged Canadian trade discrimination against var
Read full article →Trump Curbs Farmers’ Access to Funding for Energy Projects
The Trump Administration is restricting access to a federal rural energy program for farmers in another move against renewable energy. But the major change to the Department of Agriculture’s Rural Energy for America Prog
Read full article →Global Coal Demand Rises as LNG Shortage Deepens
Liquefied natural gas flows from the Persian Gulf are still over 75% lower than they were before February 28th. Yet heating demand is rising ahead of winter. In Europe, the November natural gas benchmark contract is trad
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Eni to sell Indonesian upstream stakes to Pertamina and Medco
Eni has finalised two binding deals to offload minority stakes in upstream Indonesian acreage to Pertamina and Medco.
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Oil prices drop as Russia-Ukraine ceasefire talks raise supply expectations
Oil prices fell on Monday, 12 October, amid hopes that a proposed energy ceasefire between Russia and Ukraine and a US diesel supply arrangement with Moscow could lead to increased Russian shipments, reported Reuters.
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EnerMech wins Subsea7 deal for Ginger subsea work in Trinidad and Tobago
UK-based oilfield services provider EnerMech has secured a contract from Subsea7 to provide pre-commissioning services for the Ginger subsea development project, located offshore Trinidad and Tobago.
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Shell to acquire 30% stake in Equinor’s Bay du Nord project
Shell has agreed to acquire a 30% interest in the Bay du Nord project, an offshore oil development located in the Flemish Pass basin around 500km from Newfoundland and Labrador.
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Eni CCUS Holding completes Douglas CCS installation in UK
Eni CCUS Holding has completed the offshore installation of the new Douglas CCS platform in Liverpool Bay, UK.
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Devon Energy to sell Eagle Ford assets to Crescent for $4.2bn
Devon Energy has signed a definitive agreement to divest its Eagle Ford assets to Crescent Energy Company for $4.2bn in cash.
Read full article →Weekly Fuel Security Briefing
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