Thursday, 8 October 2026

The Owner-Operator Independent Drivers Association recommended that truckers avoid using red-dyed diesel under the executive order, saying the wider use of the fuel would provide minimal relief.

"Market stability is essential to bring down costs for the long haul," the association said.

The group urged truckers to wait and see whether Illinois issues its own waiver on red-dyed diesel, according to Truckers News. The association said the executive order does not make clear how the deferred federal diesel tax of 24.4 cents per gallon will be collected once the federal waiver expires on December 31.

The order defers the federal fuel taxes rather than suspending them outright, according to freewhitewater.com. Unless Congress passes legislation, the deferred taxes will eventually come due, which the outlet said amounts to storing up bigger bills and accounting burdens for truckers later.

Minnkota Power Cooperative plans to build a natural gas-fired power plant in Cass County, North Dakota, drawing fuel from a planned pipeline carrying gas from the western part of the state.

Minnkota CEO Mac McLennan estimated construction would cost USD 1 billion in an interview.

The plant would likely run a single gas-fired turbine capable of producing 400 MW, McLennan said.

McLennan said the project is possible because of the Bakken East Pipeline, which will move natural gas from McKenzie County in the Bakken oil-producing region to eastern North Dakota.

Every Baltic Exchange suezmax index reached an all-time high on Monday, according to Lloyd's List's Greg Miller.

Miller wrote that the tanker market's cascade effect had intensified, with record strength in very large crude carriers spilling into suezmaxes. He added that rising suezmax demand was in turn dragging up aframaxes.

Johan Sverdrup crude reached a record premium of US$24 per barrel to Brent, according to a Wood Mackenzie analysis.

The premium widened as Saudi Arabia's suspension of its East-West pipeline pushed European medium-sour crude prices above US$140 per barrel, with refiners seeking alternatives, according to Wood Mackenzie.

Brent crude was hovering around USD 101 per barrel while West Texas Intermediate (WTI) traded near USD 90 per barrel, according to polyestertime.com.

The outlet attributed the elevated valuations to persistent geopolitical friction between the United States and Iran. It reported that vulnerability in the Middle East supply corridor was embedding a persistent risk premium across global commodity exchanges.

polyestertime.com said energy traders, governments, and consumers were preparing for prolonged economic friction as the two benchmarks held near those levels.

Lamprell has signed an agreement with International Maritime Industries (IMI) to fabricate offshore structures, including a production platform and jackets, at IMI's Ras Al-Khair facility in Saudi Arabia, according to Offshore Engineer OEDigital.

The fabrication forms part of an offshore engineering, procurement, construction and installation (EPCI) project being delivered by Lamprell, OEDigital reported.

The deal is the first offshore production platform and jacket fabrication scope undertaken at IMI's Ras Al-Khair yard, extending the facility's work beyond shipbuilding, according to OEDigital.

SLB signed a 15-year agreement with TotalEnergies to deploy its DrillPlan digital well planning and engineering solutions across TotalEnergies' global upstream portfolio, according to Offshore Engineer OEDigital.

The agreement supports TotalEnergies' move to a standardized digital planning environment that integrates subsurface data with well design, engineering and construction planning, Offshore Engineer OEDigital reported.

The deployment will integrate TotalEnergies' existing workflows and internally developed digital processes with SLB's technology.

Excelerate Energy has awarded Seatrium a contract to turn an LNG carrier into a floating storage and regasification unit (FSRU), with a further conversion that the buyer can take up later, Offshore Engineer OEDigital reported.

The award is Seatrium's first FSRU conversion job for Excelerate Energy, according to OEDigital. Engineering is due to start in the fourth quarter of 2026, and the converted vessel is set for delivery in 2028.

Seatrium's scope runs from the regasification plant and LNG transfer and cargo handling gear through to electrical and automation systems, plus marine modifications and supporting infrastructure.

The reworked ship will hold 170,000 cubic meters of LNG and run on tri-fuel diesel-electric generation with reliquefaction technology, OEDigital reported.

Environmental groups and residents are urging Pennsylvania regulators to widen the protective buffer distances between gas wells and homes, schools and water sources, according to Inside Climate News.

A coalition of environmental and community groups held an event at the state capitol to draw attention to their concerns, Inside Climate News reported. The coalition is pressing for larger minimum setbacks between wells and sensitive sites.

The coalition filed a petition for rulemaking with the state Department of Environmental Protection's Environmental Quality Board two years ago, asking regulators to evaluate whether the existing setback requirements could be expanded, according to Inside Climate News.

DEP spokesman Neil Shader said the agency is continuing to review the petition.

The G7 political commitment to release oil covers as much as 100 million barrels of crude and diesel, but its country allocations, product split and tender schedule have not been made public, according to FXStreet.

Some of that proposed 100 million-barrel release may consist of volumes already designated under the IEA's 400 million-barrel March release but not yet delivered, according to a separate report cited by FXStreet.

In corporate oil and gas, Viva Energy said regional refining margins are expected to remain above long-term averages for the rest of its financial year, according to Kalkine Media.

South African fuel prices rose again on 7 October 2026, with petrol 93 up R3.12 per litre and petrol 95 up R3.33 per litre, according to justmoney.co.za.

Inland 95 unleaded petrol reached R30.25 per litre in October, according to the same report.

The Department of Mineral and Petroleum Resources attributed the increase to higher international oil and petroleum-product prices, the rand-dollar exchange rate and other factors, according to justmoney.co.za.

A federal judge has temporarily halted several state lawsuits against the company building a major liquefied natural gas terminal under construction in Cameron Parish, according to The Current.

Plaintiffs filed the suits in state courts, alleging that construction of Venture Global's CP2 is damaging estuaries, killing oysters and harming seafood catches, according to The Current. The Current reported that CP2 is a USD 30 billion facility adjacent to the USD 10 billion terminal the company already operates.

In late July, U.S. District Court Judge Cain ordered all other related litigation over CP2 construction to be paused, according to The Current.

Canada's Conservatives are calling for an Emergency Fuel Relief Plan to eliminate federal taxes on diesel and raise domestic production of refined fuel, according to CKOM.

The Conservative motion sets a target of boosting Canadian diesel production to one million barrels per day, according to BarrieToday.

The party wants federal taxes on diesel fuel ended until Canada Day, according to BarrieToday.

The motion also seeks tax relief for building diesel infrastructure, including pipelines, refineries, rail and storage, according to BarrieToday.

Mark Carney's Canadian government wants to cut major-project reviews to one year while advancing a West Coast oil pipeline, expanding LNG exports, and offering larger tax deductions for wells, pipelines, and processing facilities, according to Energy News Beat.

In July, Carney and Alberta Premier Danielle Smith discussed fast-tracking the proposed 775-mile pipeline, capable of carrying one million barrels of crude oil a day.

Washington Governor Bob Ferguson warned of increased oil-spill risk to the Salish Sea in his first public comments on the project, according to The Daily World.