Energy
83 storiesTrump signs order allowing tax-free dyed diesel on highways
President Donald Trump signed an executive order on Monday that temporarily allows off-road “dyed” diesel to be used for highway driving and defers the federal excise tax on that fuel through the end of the year, without interest or penalti…
G7 to release 100 million barrels of oil and diesel reserves over four months
The G7 said Friday it will release up to 100 million barrels of oil and diesel reserves over four months, with a substantial diesel portion front-loaded into the first 20 days and coordinated by the International Energy Agency. President Do…
Oil falls as Middle East crude exports recover and G7 releases reserves
Brent crude for December delivery fell 1.89% to $100.32 a barrel and US West Texas Intermediate for November fell 1.84% to $89.43 on October 5, Yonhap reported, as Middle East crude exports increased and G7 countries moved to release emerge…
Vitol CEO says Western countries have exhausted available oil stocks
Russell Hardy, CEO of Vitol, the world’s largest independent oil trader, said at the Energy Intelligence Forum in London that Western countries have exhausted the oil stocks available to them. He said the oil products market remains very de…
Aramco CEO says oil system strained, inventory rebuild may take up to two years
Aramco chief executive Amin Nasser said the world oil supply system is already under pressure and that rebuilding depleted inventories could take up to two years, speaking in London on October 5. Nasser estimated that about 3 billion barrel…
Von der Leyen says EU to cut Russian gas imports to zero; target date disputed
European Commission President Ursula von der Leyen said the EU will bring Russian gas imports to zero, down from a 45% share before the conflict in Ukraine to 12% now. Vedomosti reported the goal as the end of this year, while Kommersant an…
Tankers struck again near Strait of Hormuz as Iran restates conditions for reopening
At least two vessels were struck over the weekend in waters near Oman and Iran, according to the UK Maritime Trade Operations Centre, which reported a crude oil tanker hit by an unknown projectile on Saturday and a second tanker struck in t…
President Lee Calls Farmland Solar an Opportunity, Urges Permit Support
President Lee Jae-myung told a cabinet meeting on Oct 6 that South Korea must move toward an “electricity state” with renewable energy, and solar in particular, at its core, and said converting farmland for solar projects could earn several…
Moldova–Romania power line to be named Trump Liberty Line with $130m US funding
A new 400 kV high-voltage power line between Moldova and Romania will be named the “Trump liberty line”, the US embassy in Moldova said. Washington is financing the $130m Strășeni–Gutinaș project on a grant basis, and a working group involv…
Novak urges stable fuel supplies, faster rules to meet Russian demand
Russian Deputy Prime Minister Alexander Novak, after a regular meeting on the petroleum products market, called on ministries and vertically integrated oil companies to keep ensuring stable fuel supplies to the domestic market. The governme…
Novak chairs fuel market meeting as officials report reserves, regional price measures
Deputy Prime Minister Alexander Novak chaired a meeting on the fuel market, where the Energy Ministry reported on accumulated fuel reserves and regional authorities presented measures to regulate fuel prices. Novak said there is no diesel s…
Google, Constellation sign 3.59GW power deal with 890MW of new nuclear
Google and US energy company Constellation signed a long-term strategic energy agreement totalling 3.59GW, of which 890MW is new nuclear capacity under a 20-year power purchase agreement, IT Home and cnBeta reported. The nuclear portion com…
Minister: Honam chip complex's 6.3GW power, 650,000t water can be supplied locally
Climate, Energy and Environment Minister Kim Sung-hwan told a National Assembly audit that the Honam semiconductor industrial complex's expected 6.3GW of electricity and 650,000 tonnes of water a day can be supplied from within the region. …
Putin holds meeting on energy storage systems, Kremlin says
President Vladimir Putin is holding a meeting on the development of energy storage systems, state agencies reported, after the Kremlin announced it earlier in the day. Kremlin spokesman Dmitry Peskov said Moscow mayor Sergei Sobyanin would …
EU Commission warns of “very difficult winter” over energy prices
A European Commission spokesperson, Anna-Kaisa Itkonen, said the EU is heading into a very difficult winter because of energy prices, despite G7 measures to stabilise the market. The G7 agreed on 2 October to release up to 100 million barre…
Korea Western Power starts AI system to manage coal imports and inventory
Korea Western Power said it has begun operating an AI-based integrated control system covering bituminous coal vessel transport, offshore waiting, unloading and coal-yard inventory. Maeil Business reported the system went into full operatio…
Gulf producers keep Hormuz ‘shuttle’ crude exports; volumes said to top pre-war levels
Gulf oil producers including Saudi Arabia are still exporting crude through the Strait of Hormuz via high-risk “shuttle” runs, loading very large crude carriers inside the strait and transferring the oil to ships waiting outside, according …
St Petersburg Exchange halts publication of fuel trade data under decree
The St Petersburg Exchange has stopped publishing a range of data in its Oil Products section, citing a presidential decree on control of information and statistics in the fuel and energy sector. Interfax says the withheld items include con…
ADNOC signs multi-year LNG deal with Thailand's Gulf Group from 2027
ADNOC said it signed a multi-year sales and purchase agreement with Thailand's Gulf Group for the supply of about 2 million tonnes of liquefied natural gas, with deliveries starting in 2027 and ADNOC Trading as counterparty. The deal builds…
Minister, opposition clash at audit over 12th power plan committee list
At a National Assembly audit of the Ministry of Climate, Energy and Environment on Oct 6, People Power Party lawmakers demanded the names of the committee drafting the 12th Electricity Supply and Demand Basic Plan, and Minister Kim Sung-hwa…