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The share of solar generation with co-located battery storage is increasing
Utility-scale solar developers are increasingly co-locating battery storage with new solar photovoltaic capacity. As of September 2026, over 16% of new utility-scale solar capacity added this year is co-located with operable…
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Whistleblowers Claimed Key Oil Tanker Rate Was Manipulated
The Baltic Exchange has received two whistleblowing claims of attempted manipulation of the world’s benchmark tanker rate since the beginning of the war in Iran, according to documents made public as part of a major legal battle…
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Tanker in Strait of Hormuz Hit by Limpet Mines, Security Sources Say
A small boat attached two limpet mines to the hull of a tanker in the Strait of Hormuz causing a fire in its engine room and temporarily disabling the vessel, in the first successful use of such explosives in the waterway since…
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Eni Reactivates 'Supergiant' Venezuelan Oilfield
Junin-5 restarted operations following the execution of the new license between Eni and Venezuela, under which the heavy oil field is planned to increase production to 200,000 barrels per day by 2028.
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Brent Hits $117 as Tanker Catches Fire in Strait of Hormuz
Tensions in the Middle East are escalating again as a tanker was reported on fire after explosive devices were attached to its hull while the vessel was attempting to transit outbound in the Strait of Hormuz. The UK Maritime…
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Oil prices increase as attacks on shipping ramp up
Brent crude climbed 2.5% to $113.51 a barrel. Brent remains near the high end of its range since the war with Iran began.
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BP profits hit 18-year high as Iran war drives up oil refining margins
Oil giant hails ‘banner quarter’ as earnings reach $8.46bn, prompting anger from climate campaigners BP’s profits have hit their highest level in almost two decades as the war in the Middle East drove up oil and gas prices and…
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Chevron and Exxon beat earnings expectations as refining profits soar on high diesel fuel prices
Diesel prices have surged globally as Ukraine and Iran have bombed refineries in Russia and the Middle East.
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Oil Markets Caught Between Iran War Risks and Emergency SPR Releases
Crude oil gave back ground on Thursday as traders weighed emergency supply against tentative efforts to reopen talks with Iran. Neither side has taken control. The U.S. Strategic Petroleum Reserve is delivering barrels, but the…
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BP Quadruples Profit to Record as War Boosts Refining and Trading
BP easily beat analyst expectations of third-quarter earnings, posting its highest quarterly profit, which nearly quadrupled from a year earlier amid strong refining margins and oil and gas trading. BP’s underlying replacement…
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Russian strikes plunge Ukrainian city into blackout as Zelenskyy warns of more missile attacks
Russian strikes caused major power outages in Dnipro as a reported Ukrainian drone attack sparked a fire at a Russian oil refinery.
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How a New “Arab Dark Fleet” Keeps Hormuz Oil Flowing
Gulf oil producers have gained control of a fleet of nearly 230 tankers that have defied Iran to ship oil through the Strait of Hormuz and keep the chokepoint open to global trade. The giant fleet is owned, managed, chartered or…
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ZERO44 launches free calculator showing what switching to biofuel really costs
ZERO44, provider of software for maritime emissions compliance, has released a free, interactive fuel cost calculator on its website. The tool shows ship operators how the economics of replacing fossil fuel with biofuel change…
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MOL Signs Long-Term Charter Contract with Deutsche ReGas for Energie-Terminal “Deutsche Ostsee” in Germany
Mitsui O.S.K. Lines, Ltd. and Deutsche ReGas announced that they have entered into a long-term Time Charter Contract with Deutsche ReGas for the deployment of one FSRU at the Energie-Terminal “Deutsche Ostsee” in Mukran, Germany.…
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Port of Santos starts ethanol bunkering for ships
The operation marks the transition from a trial to a regular ethanol supply model, the Santos port authority said. The first operation took place on 19 October, when the 13,000 TEU container ship CMA CGM IRON was refuelled at the…
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India’s steel consumption rises 8% in September; first-half imports climb 23.8%
India’s finished steel consumption rose 8% year-on-year to 14.4 million tonnes in September 2026, outpacing production growth and keeping the country a net importer of finished steel, according to Nomura’s India steel update.…
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Oil rises near 6-mth high as Trump weighs military options against Iran
Oil prices rose near six-month highs on Friday as the prospect of renewed U.S. military action against Iran clouded hopes for a diplomatic breakthrough, reviving concerns over supply disruptions. As of 05:45 ET (09:45 GMT), Brent…
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Low Rhine strains Swiss diesel supply as importers turn to compulsory stocks
Extremely low Rhine water levels have tightened refined product supplies into Switzerland, forcing importers to increasingly rely on alternative transport routes and compulsory diesel stocks as barge movements remain heavily…
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US fuel production holds steady in October
The US has supplied 11% more fuel oil per day on average in October so far than in September, according to the Energy Information Administration (EIA). Changes in monthly US residual fuel oil from September to October (so far)…
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Commission launches High-Level Dialogue with the European refining sector
The European Commission launched this week the first High-Level Dialogue with the European refining industry to discuss how to strengthen Europe’s energy security, defence readiness and industrial competitiveness in a rapidly…
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Natural Gas Storage Levels Rise, Surpassing Forecasts
The latest data from the Energy Information Administration (EIA) reveals a notable increase in natural gas storage levels, as the U.S. reported an addition of 80 billion cubic feet (Bcf) to its underground storage facilities.…
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European Natural Gas Prices Near €100
European natural gas prices rose back toward €100 per megawatt-hour on Friday, the highest since late 2022, and on track for a monthly gain of more than 30%, amid concerns over a renewed escalation of the Middle East war and…
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Equinor Doubles Estimate for Afrodite Gas Discovery
An appraisal well showed that the Afrodite discovery near the Kvitebjorn field on Norway's side of the North Sea potentially holds 77-180 million barrels of oil equivalent recoverable natural gas and condensate.
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Wall Street Banks Raise Oil Price Forecasts as Supply Fears Deepen
Brent Crude oil prices are set to end the year at about $105 per barrel, bank ANZ said on Friday as it hiked its projection by $10 a barrel on the assumption that Middle East oil exports, shipping availability, and fuel supplies…
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