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voltsdaily

Monday, 12 October 2026

78 briefs so farlast update 23:16 UTC

Key points

  • Hormuz Shipping Thins as Iran Conflict Forces Oil Cargoes Around Africa.
  • Diesel Prices Now Track 10-Year Treasury Yields More Closely Than Crude, Sen Says.
  • First Russian Diesel Cargo Heads to US After Trump-Putin Deal.
  • Tanker MT Petro Dolphin Attacked Off Oman, Two Indian Sailors Missing.

Oil & Gas

First Russian Diesel Cargo Heads to US After Trump-Putin Deal

The first Russian diesel cargo bound for the United States was expected to reach the East Coast during the week following a deal between President Donald Trump and President Vladimir Putin, according to Daily Post.

The Greek-flagged tanker MINERVA ZEN was carrying about 275,000 barrels of oil and reportedly left St. Petersburg in late September, Daily Post reported. The departure was not publicized, likely for security reasons.

Germany said it would maintain its existing sanctions policy after the United States announced it would buy Russian diesel, according to Times Now. Spokesman Stefan Cornelius said Berlin had taken note of the American decision but would keep following its existing sanctions policy.

EU foreign ministers intended to approve the largest set of sanctions listings targeting Russia's war machine since the invasion began, Times Now reported.

Source: dailypost.ng (opens in a new tab)2 sourcesPermalink

Oil & Gas

Nigeria Cannot Yet Meet Dangote Refinery's 700,000-Barrel Daily Crude Need, Says Finance Minister

Nigeria cannot yet supply the Dangote Petroleum Refinery with the 700,000 barrels of crude oil it requires each day because national production remains insufficient, according to Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele.

The shortfall leaves the Lagos refinery short of the volume it needs to run at its stated daily requirement.

Since February 2026, Fatima Aliko-Dangote has led commercial operations for Dangote Industries' oil and gas businesses, including the Lagos refinery, according to Business Journal.

Source: businessjournalng.com (opens in a new tab)2 sourcesPermalink

Markets

IMF Chief Flags Energy Supply Shock and AI Demand at Bangkok Meetings

IMF chief Kristalina Georgieva said the global economy is being pulled in two opposite directions by a negative energy supply shock and a positive demand shock from AI.

She made the remarks as the IMF and World Bank meetings opened in the Thai capital, Bangkok, where sessions run from Monday through Saturday.

The IMF has warned that the effects of the shock have been unequal, with developing countries reliant on imported energy hit the hardest.

Source: wfmz.com (opens in a new tab)1 sourcePermalink

Generation

Rooppur Nears Fission Start as Egypt Awaits El Dabaa Fuel

Bangladesh's Rooppur Nuclear Power Plant moved closer to initiating nuclear fission in its first unit after regulators approved the results of its safety valve tests, according to Bangladesh Post. The approval clears the way for the next phase of commissioning at the plant, located at Rooppur in Ishwardi of Pabna.

Egypt expects the first shipment of nuclear fuel for the El Dabaa Nuclear Power Plant to arrive in May 2027, Minister of Electricity and Renewable Energy Mahmoud Esmat said in a televised interview with anchor Lamis El Hadidy on October 11.

Source: bangladeshpost.net (opens in a new tab)2 sourcesPermalink

Oil & Gas

Saudi Industrial Output Falls in August as Mining Drops 35.8%

Saudi Arabia's Industrial Production Index fell to 87.1 in August, down from 101.3 in July and 113.9 a year earlier, according to Arab News.

The decline was driven largely by a 35.8% annual contraction in mining and quarrying activity, Arab News reported.

Non-oil industrial activities ran against the broader trend, growing 1.2% year on year in August, according to Arab News.

Source: arabnews.pk (opens in a new tab)2 sourcesPermalink

Transport

AGL Energy Joins Coalition Against Draft EV Charger Network Rule

In Australia, AGL Energy has joined a coalition of retailers, charging operators and industry bodies opposing a draft rule that would let electricity networks own and run EV chargers. The company argues that EV charging should stay a competitive market rather than become a regulated network service funded through electricity bills.

Separately, a paper published in Nature proposes an intelligent adaptive energy management framework for a 1 MW hybrid solar-grid EV DC fast-charging station equipped with 600 kWh of energy storage. In MATLAB/Simulink simulations, the framework achieved 87.8% renewable energy utilization, a 4.2:1 grid export-to-import ratio and a 71.8% average daily solar contribution.

Source: nature.com (opens in a new tab)2 sourcesPermalink

Oil & Gas

Pakistan Hunts Alternative LNG as Qatar Force Majeure Runs to Nov. 5

Pakistani officials said on Wednesday that the country is lining up alternative liquefied natural gas (LNG) cargoes and readying supply cuts to some sectors, after Qatar pushed back force majeure notices on deliveries to Islamabad until Nov. 5, according to Hellenic Shipping News. The officials pointed to the risk of gas shortages this winter.

Qatar accounted for 35 of the 36 LNG cargoes Pakistan imported last winter, Hellenic Shipping News reported, citing official data.

The Ministry of Petroleum has drawn up a plan directing state-owned Pakistan LNG Limited (PLL) to source cargoes elsewhere, including from the US, the Middle East and Azerbaijan, Hellenic Shipping News reported.

To balance winter demand, the government intends to use load management and curtail supplies. "There will be load management and curtailment of supplies," an official said, according to Hellenic Shipping News.

Source: hellenicshippingnews.com (opens in a new tab)1 sourcePermalink

Oil & Gas

Trump's Iran Pledge Fails to Calm Oil Markets as Energy Ceasefire Announced

President Donald Trump's promise not to strike Iran before November's U.S. midterm elections did little to reassure energy markets, according to Tekedia.

As of Oct. 12, Trump said Russia and Ukraine had agreed to an energy ceasefire that would take effect immediately, according to TokenPost.

Despite that agreement, Middle East supply concerns and security risks remained factors for international financial markets, TokenPost reported.

Source: tekedia.com (opens in a new tab)2 sourcesPermalink

Markets

First Gen to Supply Renewable Power to 189 Jollibee Stores in the Philippines

First Gen Corp. will power 189 company-owned Jollibee Group outlets in the Philippines with renewable electricity under the government's retail aggregation program, BusinessWorld reported.

Those 189 stores now draw entirely on renewable supply, sourced through a set of power contracts signed with First Gen, according to BusinessMirror.

First Gen said the sites make up roughly 40% of the group's company-owned outlets nationwide, spanning the Jollibee, Greenwich, Chowking, Red Ribbon, Burger King, and Panda Express brands.

Electricity for the stores will come from First Gen's geothermal plants in Ormoc City and Kananga, Leyte.

Source: bworldonline.com (opens in a new tab)2 sourcesPermalink

Renewables

Resident Birds Bear Brunt of Wind Turbine Deaths in Southern Mexico, 15-Year Study Finds

A 15-year study at eight wind farms in the Isthmus of Tehuantepec in southern Mexico found that bird deaths fell far more heavily on resident, native and ground-foraging species than on the migratory birds that have long drawn public concern about wind energy, according to scienmag.

The findings draw on carcass searches carried out across the eight sites over the study period. According to scienmag, resident species accounted for 78% of the recorded fatalities.

Pigeons and doves were the most affected group, making up nearly 40% of all fatalities recorded over the study, scienmag reported. The White-winged Dove alone concentrated 17% of the registered carcasses.

Granivores, omnivores, insectivores and scavengers showed the highest collision rates in the analysis, according to scienmag.

Source: scienmag.com (opens in a new tab)1 sourcePermalink

Oil & Gas

Trident OGX Targets Up to Twentyfold Oil Output Rise in Two Years

Oil output at Trident OGX could climb up to twentyfold within two years, moving from roughly 2,500 barrels a day toward a range of 45,000 to 50,000, according to Congolese oil tycoon Lucien Ebata.

The company is chasing an interim mark of 10,000 barrels a day before pushing further, Ebata, its chairman and chief executive, told the news site Vox Congo.

Clearing that stage opens the way to the Mengo field in 2027, where Ebata expects production to reach the upper end of his target.

Source: billionaires.africa (opens in a new tab)2 sourcesPermalink

Policy & Geopolitics

Senate Permitting Bill Unites Fossil Fuels and Renewables, Splits Environmentalists

A new energy permitting bill introduced in the U.S. Senate has brought fossil fuel and renewable energy sectors into alignment while opening a rift among environmentalists, according to Cryptobriefing.

The bill, backed by Senators Shelley Moore Capito and Sheldon Whitehouse, aims to expedite infrastructure projects needed to meet rising electricity demand driven by AI data centers, according to Cryptobriefing.

According to Fortune, the legislation would accelerate permitting timelines for projects ranging from solar farms and power lines to oil and gas pipelines. Fortune reported it would also make it harder for presidential administrations to pull permits, narrow environmental reviews, and limit litigation outside federal courts.

Environmental groups argue the proposal compromises environmental protections, according to Cryptobriefing.

Source: cryptobriefing.com (opens in a new tab)2 sourcesPermalink

Generation

Avalanche Energy picks Washington's Tri-Cities for proposed fusion plant

Avalanche Energy has picked the Tri-Cities region of Washington state to host its first global manufacturing site for compact fusion machines, according to iGrowNews.

The company and the Tri-City Development Council (TRIDEC) signed a strategic engagement letter to move the project forward, announcing the agreement in Richland on October 8, 2026, iGrowNews reported.

The letter commits Avalanche and TRIDEC to work together on site selection, permitting, infrastructure, supply-chain development and workforce training, according to iGrowNews.

The plant is intended to start with prototype production. Avalanche expects it to grow into a vertically integrated commercial plant producing hundreds of fusion machines annually, iGrowNews reported.

Source: igrownews.com (opens in a new tab)1 sourcePermalink

Policy & Geopolitics

Ukraine's DIU Publishes Data on 20 Russian Shadow Fleet Vessels

Ukraine's defense intelligence (DIU) published data on 20 vessels involved in exporting Russian crude oil, petroleum products and liquefied natural gas, as well as bunkering sanctioned vessels.

All 20 vessels are under sanctions imposed by the United Kingdom or Ukraine, according to the DIU, while one is subject to U.S. restrictions.

The DIU said the vessels form part of a Kremlin logistics network used to generate revenue to finance Russia's war against Ukraine.

Source: ukrinform.net (opens in a new tab)2 sourcesPermalink

Renewables

Bristol Airport Solar Output Tops 1.7m kWh in 2026

Bristol Airport generated a record amount of renewable energy this year, with its solar arrays producing more than 1.7 million kWh so far in 2026. The airport said that output was enough to power the equivalent of around 680 homes for a year.

In a separate renewable deal, Cargill agreed to a 12.6-year virtual power purchase agreement for 87 MW of wind power from the Sweetland Wind project in South Dakota, United States.

Source: thewestonmercury.co.uk (opens in a new tab)2 sourcesPermalink

Grid & Storage

Power and Gas Shortages Push Urban Malawians Back to Charcoal

Unreliable electricity and intermittent LPG supplies in Malawi's urban centres are forcing some families to return to charcoal for cooking, according to EnviroNews.

A study found that 82.8% of households surveyed across Blantyre, Lilongwe, Mzuzu and Zomba continued to use biomass, primarily charcoal, according to Mwnation.

Julius Ngoma, National Coordinator of the Civil Society Network on Climate Change, warned that the combined power and gas shortages will accelerate deforestation, Mwnation reported.

Source: environewsnigeria.com (opens in a new tab)2 sourcesPermalink

Policy & Geopolitics

Shringla Backs Continued Russian Oil Supplies to India on Energy Security Grounds

Harsh Vardhan Shringla, a Rajya Sabha MP and member of the parliamentary committee on external affairs, emphasised India's need for Russian oil supplies to support energy security, according to the Economic Times.

Shringla said India had to keep the energy security of its 1.4 billion people in mind and make decisions accordingly, the Economic Times reported.

He said that if India, one of the world's largest energy importers, stopped buying Russian oil, it would affect global oil prices.

Source: economictimes.indiatimes.com (opens in a new tab)2 sourcesPermalink

Renewables

Matheson Residents Oppose Two Proposed Solar Projects Near Farmland

Residents in Matheson, Colorado, are worried about two proposed solar projects next to their farmland and what approval could mean for the area, according to Denver7.

In emails to Denver7, residents cited concerns about the 6,000-acre sites and their effects on farmland, water runoff, property values, and the area's natural beauty.

Residents Wayne Brown and Clint Buhring told Denver7 they support renewable energy but questioned why the projects need to be built in their part of Colorado.

Source: denver7.com (opens in a new tab)2 sourcesPermalink

AI & Energy

Google Signs USD 4.3 Billion Nuclear Deal With Constellation Across Three States

Google has signed a long-term power arrangement with Constellation Energy for electricity from upgraded nuclear reactors in three U.S. states.

The agreement involves 11 nuclear units in Illinois, Pennsylvania and New Jersey, placing the technology company behind efforts to add generating capacity to the regional grid.

Constellation Energy announced a USD 4.3 billion deal to increase output at its 11 nuclear plants and sell the additional electricity to Google, according to the News-Gazette.

Source: wheninyourstate.com (opens in a new tab)2 sourcesPermalink

AI & Energy

Amazon, Google, Microsoft Commit to India AI Infrastructure as ASEAN Adoption Accelerates

Amazon, Google and Microsoft have announced major investment commitments covering AI and cloud infrastructure in India, according to Gadgets Now. Meta is working with Reliance Industries on an AI-enabled data centre in Gujarat.

Amazon plans to invest more than USD 21 billion in AI and cloud infrastructure in India from 2026 through 2030, Gadgets Now reported.

The commitments land as AI adoption gains pace across South-east Asia. According to The Business Times and market research firm Kantar, 62% of respondents increased investment in AI or data-driven technologies over the previous 12 months.

The Business Times and Kantar polled 514 regional business leaders. Among those surveyed, 78% see AI's benefits outweighing its energy requirements.

Source: gadgetsnow.indiatimes.com (opens in a new tab)2 sourcesPermalink

Oil & Gas

Heating Fuel and Diesel Prices Climb in New York and California Markets

Heating oil in New York's North Country was priced at $6.01 per gallon this week, according to the New York State Energy Research and Development Authority.

Heating oil, kerosene and propane prices in northern New York have all risen from last year, the New York State Energy Research and Development Authority said.

Fuel costs weighed on markets elsewhere. GasBuddy reported the average price of gasoline on Oct. 7 was $4.34 per gallon, with diesel at $6.26 per gallon.

A California farmer described rising diesel costs as affecting farming, transportation and the cost of getting fresh produce to consumers.

Source: cnhinews.com (opens in a new tab)2 sourcesPermalink

Renewables

Nepal floods damage four Budhi Gandaki hydropower projects totaling 412.09 MW

Four hydropower projects along Nepal's Budhi Gandaki River and its tributary streams, holding 412.09 MW between them, took damage from fresh flooding, IPPAN said in a statement.

The worst hit was the 341-MW Budhi Gandaki Hydropower Project, still under construction, where floodwaters carried off the main camp area along with some construction equipment, according to IPPAN.

At the 30.59-MW Yaru Khola Hydropower Project, the water damaged a Bailey bridge used for construction and carried off materials and equipment on site.

The 16-MW Machha Khola Hydropower Project lost an access road and the bridge linking its site, IPPAN said.

Source: munsifdaily.com (opens in a new tab)2 sourcesPermalink

Oil & Gas

Nigeria Lacks Crude to Fully Supply Dangote Refinery, Finance Minister Says

Nigeria does not produce enough crude oil to run Aliko Dangote's refinery at full capacity, according to Finance Minister Taiwo Oyedele.

"We don't have enough to service Dangote. Dangote imports crude," Oyedele said. He said the refinery buys crude on international markets because domestic supply falls short.

Oyedele said Nigeria did not have up to 700,000 barrels of free crude available to give to any recipient, including Dangote, a figure he tied to the refinery's daily demand.

The refinery has bought cargoes from the United States, Brazil and other West African producers because it could not secure enough barrels locally, according to the minister.

The comments underscore the gap between the refinery's processing needs and Nigeria's available crude, which the finance minister acknowledged leaves the plant short of feedstock.

Source: billionaires.africa (opens in a new tab)1 sourcePermalink

Transport

Xpeng Launches Yoyo Robotaxi Brand in Guangzhou

Chinese electric vehicle manufacturer Xpeng has unveiled an autonomous ride service under the Xpeng Yoyo brand, opening registration for the first external users in China, according to electrive.

Access is initially restricted to users with an invitation code, electrive reported. The operating area currently covers only parts of Guangzhou, where the robotaxis are manufactured.

Xpeng plans to provide the vehicles and required technology, while external partners handle fleet operations, according to electrive.

Source: electrive.com (opens in a new tab)1 sourcePermalink

Policy & Geopolitics

UK Opens Consultation on Clean Heat Market Mechanism Extension to 2032

The UK Department for Energy Security and Net Zero (DESNZ) is seeking views on targets for years 3 to 6 of the Clean Heat Market Mechanism and on proposals including support for resilient and sustainable supply chains. The consultation proposes extending the scheme's regulations until 2032.

The proposals cover awarding credits for heat pump installations in new-build properties and continuing existing scheme mechanics, including credit carry-over, target carry-forward and payment-in-lieu, according to DESNZ.

The consultation closes at 11:59pm on 8 November 2026.

Source: gov.uk (opens in a new tab)1 sourcePermalink

Renewables

Belo Monte Hits 10-Year Mark as License Renewal Stalls

The Belo Monte hydroelectric plant in the Brazilian Amazon reaches 10 years of operation while its environmental license renewal remains disputed, according to Mongabay.

Oil slicks from vessels and offshore oil operations repeatedly drifted into marine protected areas around the world between 2022 and 2025, an analysis cited by Mongabay found.

In Clayoquot Sound, British Columbia, the Tla-o-qui-aht First Nation is working to replant degraded kelp forests through a restoration partnership, contributor Jennifer Cole reported for Mongabay.

Tropical forest ecologist Zuzana Burivalova won the 2026 Pritzker Emerging Environmental Genius Award, Mongabay reported.

Source: news.mongabay.com (opens in a new tab)1 sourcePermalink

Transport

NHTSA Opens File on Petition Claiming Tesla Robotaxis Speed in School Zones

A defect petition accuses Tesla Robotaxis of speeding through active school zones, and NHTSA has opened a file to decide whether to investigate, according to Electrek.

The Office of Defects Investigation opened the file, DP26010, on October 9, Electrek reported.

NHTSA puts the affected fleet at about 1,000 vehicles, comprising Model Y and Cybercab, according to Electrek.

The evidence supporting the petition is limited, per Electrek: three social media videos linked in the petition, alongside four incidents in NHTSA's own tally.

Source: electrek.co (opens in a new tab)1 sourcePermalink

Policy & Geopolitics

France's CRE Proposes 82 GW Target for First Long-Term Capacity Auction

France's Energy Regulatory Commission (CRE) has set out proposed parameters for the country's first long-term capacity auction, according to ESS News. The regulator proposes a target volume of 82 GW, of which 3 GW would be eligible for multiyear contracts.

RTE estimates that France will need between zero and 2.5 GW of new capacity, depending on the scenarios considered.

On pricing, CRE proposes retaining the mechanism's two price caps, known as PPG and PPI, at EUR 72/kW and EUR 15/kW, respectively.

Source: ess-news.com (opens in a new tab)1 sourcePermalink

Transport

Transerco Deploys 53 Electric Buses on Four Hanoi Routes

Vietnamese public transport operator Transerco has deployed 53 electric buses in Hanoi, according to electrive. The new fleet replaces diesel buses on four routes across the capital.

Cau Buou Bus Enterprise commissioned 28 medium-sized electric buses on October 6 for routes 22A and 22B, electrive reported. Route 22A runs from Gia Lam Bus Station to Kien Hung Urban Area, while route 22B connects Giap Bat Bus Station to Do Nghia.

Southern Hanoi Passenger Bus Enterprise began operating the remaining 25 electric buses the same day, serving routes 30 and 50, according to electrive. Route 30 links My Dinh Bus Station with Gamuda Urban Area, and route 50 connects Long Bien with An Lac Urban Area in Hoai Duc.

Source: electrive.com (opens in a new tab)1 sourcePermalink

Renewables

Ørsted Hires OEG for Hornsea 3 Construction Power

Ørsted has contracted OEG to run temporary power across construction of the Hornsea 3 offshore wind farm, Offshore Engineer OEDigital reported. The work spans commissioning of the offshore converter station and the installation and commissioning of the wind turbines.

At the offshore converter station, OEG's setup can supply up to 1,400 kVA during commissioning, according to Offshore Engineer OEDigital.

During turbine installation and commissioning, OEG will run 150 kVA generators fed by 3,000-litre mountable fuel tanks, according to Offshore Engineer OEDigital.

Source: oedigital.com (opens in a new tab)1 sourcePermalink

Policy & Geopolitics

Saudi Arabia Plans Pipeline Expansion to Cut Strait of Hormuz Reliance

Saudi Arabia plans to expand its oil pipeline network to reduce its reliance on the Strait of Hormuz, according to Semafor Net Zero.

Saudi Energy Minister Prince Abdulaziz bin Salman said a gas pipeline is being converted to carry crude and could move around 1 million barrels per day within eight weeks, rising to 3 million with further investment, according to Semafor Net Zero.

The minister said Saudi Arabia may end up with 10 million barrels of pipeline capacity within two to three years to divert oil to a different destination, Semafor Net Zero reported. He added that the government, not Aramco, is footing the bill.

Source: semafor.com (opens in a new tab)1 sourcePermalink

Transport

Tesla Renames FSD to "Tesla Assisted Driving" in Europe to Secure EU Approval

Tesla has renamed its FSD (Supervised) driver assistance system to "Tesla Assisted Driving" after a demand from the German federal government, as it seeks EU-wide approval, according to electrive.

The renaming was a condition set by German Transport Minister Steffen Bilger, who considered the FSD name misleading, electrive reported. According to Bilger, Tesla agreed to the new name and has already applied it in Europe, though not worldwide.

EU-wide approval requires a qualified majority of at least 15 of the 27 member states, representing at least 65% of the EU population, according to electrive.

Source: electrive.com (opens in a new tab)1 sourcePermalink

Grid & Storage

ACC Hits Five Million Battery Cells Made in France

Automotive Cells Company (ACC) has produced its five-millionth battery cell at its factory in France, according to electrive. The battery joint venture links Stellantis, Mercedes, and TotalEnergies.

At the Paris Motor Show, ACC said its current cell output at the Douvrin site is enough to equip nearly 40,000 vehicles with its own battery cells, electrive reported.

The five-millionth cell marks production at the French plant, electrive said.

Source: electrive.com (opens in a new tab)1 sourcePermalink

Oil & Gas

TGS and Galdor Sign AI Exploration Pact for Norwegian Continental Shelf

TGS signed a framework agreement with newly established Galdor Exploration to apply AI and integrated subsurface data to identify exploration opportunities on the Norwegian Continental Shelf and across the wider North Sea region, according to Offshore Engineer OEDigital.

Under the agreement, Galdor gains access to TGS' integrated energy data and technology solutions, and the two companies will jointly implement AI-enabled exploration workflows, Offshore Engineer OEDigital reported.

The collaboration will use TGS' proprietary Seismic Foundation Model alongside advanced machine learning techniques to support the identification and evaluation of exploration prospects, according to Offshore Engineer OEDigital.

Source: oedigital.com (opens in a new tab)1 sourcePermalink

Renewables

Eskom opens partner search for 6 GW of renewables and storage

South African utility Eskom has opened a qualification round to pick strategic partners for as much as 6 GW of renewable and storage projects, according to pv magazine.

Eskom plans to bring at least 2 GW of solar PV plus 1 GW / 4 GWh of battery storage into the tender, and may add projects owned or originated by the chosen partners, pv magazine reported.

Those partners will sit on a pre-qualified panel and co-develop, finance and build the projects with Eskom across five years, according to pv magazine.

Qualified developers then compete in later rounds run through one or more requests for proposals, pv magazine reported.

Source: pv-magazine.com (opens in a new tab)1 sourcePermalink

Transport

Citroën Unveils Electric 2CV Concept at 2026 Paris Motor Show

Citroën unveiled its electric 2CV Concept at the 2026 Paris Motor Show, according to electrive.

The production version is expected to weigh around one tonne, electrive reported, achieved through the elimination of unnecessary functions.

The production model is expected to arrive by 2028 and will comply with EU electric-car regulations under the M1E category, according to electrive.

Source: electrive.com (opens in a new tab)1 sourcePermalink

Transport

Vammo Passes 10 Million Battery Swaps and Reaches EBITDA Profitability

Brazilian electric motorcycle and battery-swapping company Vammo has surpassed 10 million battery swaps, according to Electrek. The São Paulo-based company reported the milestone as it prepares to extend its model beyond its home city.

Vammo has reached EBITDA profitability, Electrek reported.

The company has grown to more than 10,000 active riders, according to Electrek.

Source: electrek.co (opens in a new tab)1 sourcePermalink

Climate

Sri Lanka Turns to Passive Cooling as Urban Heat Drives Up Energy Demand

Sri Lanka is examining traditional and modern passive-cooling methods, mainly for homes, as heat and energy demand climb, according to Mongabay. Passive cooling relies on natural energy flows such as wind and shade to lower indoor temperatures.

As temperatures rise, urban residents in Sri Lanka are leaning more on active cooling such as fans and air conditioners, Mongabay reported.

Research by Sri Lankan engineers identified natural ventilation as one of the most effective passive-cooling strategies, according to Mongabay.

Source: news.mongabay.com (opens in a new tab)1 sourcePermalink

Renewables

EDF Takes Development Lead on 1.1 GW Five Estuaries Wind Farm as RWE Sells Out

EDF power solutions UK and Ireland has acquired RWE's 33.33% holding in the Five Estuaries offshore wind project in the U.K. and will steer its development, according to Offshore Engineer OEDigital.

The planned wind farm carries a capacity of 1.1 GW. With the stake sale closed, EDF now leads development for the joint venture partners.

RWE plans a short-term role to ease the handover, then intends to put the sale proceeds back into its portfolio of consented offshore wind projects.

Source: oedigital.com (opens in a new tab)1 sourcePermalink

Markets

Ørsted to Buy Out Partners in UK's Gunfleet Sands Offshore Wind Farm

Ørsted has exercised a buyback right to acquire the remaining 49.9% stake in the 172 MW Gunfleet Sands 1 & 2 offshore wind farm in the UK, moving toward full ownership of the asset, according to Offshore Engineer OEDigital.

The company currently holds 50.1% of the project, which sits seven kilometres off the Essex coast, according to Offshore Engineer OEDigital. Its partners JERA Nex BP and the Development Bank of Japan each hold 24.95%, the outlet reported.

The transaction is estimated at USD 19.8 million, or GBP 15 million, according to Offshore Engineer OEDigital. It is subject to customary closing conditions and is expected to complete in November, after which Ørsted will own and operate the entire project.

Ørsted said taking full ownership would give it greater flexibility to manage the wind farm and evaluate late-life options, including a potential extension of its operational lifetime.

Source: oedigital.com (opens in a new tab)1 sourcePermalink

Grid & Storage

Energy Dome Opens CO2 Battery Plant in Piacenza, Italy

Energy Dome has opened a manufacturing plant in Piacenza, Italy, to expand production of its CO2 Battery technology for international projects, according to pv magazine.

The facility will manufacture key components, including the large domes used in the company's carbon dioxide-based energy storage systems, pv magazine reported.

The plant will supply components for long-duration energy storage projects in India, the United States and Ireland, according to pv magazine.

Energy Dome said it shipped its first entirely in-house manufactured dome to India for the 20 MW/160 MWh Kudgi project with NTPC, pv magazine reported.

Source: pv-magazine.com (opens in a new tab)1 sourcePermalink

Renewables

Higher PV Voltage Drives Steeper Module Power Losses, French Study Finds

Pushing PV system voltage higher accelerates potential-induced degradation, and the conductivity of the module encapsulant shapes how much performance slips, according to pv magazine, citing work by French researchers.

The team also flagged a second failure path, partial-discharge-induced electrical treeing, in medium-voltage modules, pv magazine reported. According to pv magazine, the scientists said this was the first study to examine PID in passivated emitter and rear cell (PERC) modules at voltages up to 6,000 V and to pin down that treeing mechanism.

Running modules at 6,000 V drove front-side power losses as high as 13.5% and rear-side losses as high as 19.5%, pv magazine reported.

The treeing effect turned up only in ionomer-based modules tested at 3,000 V, clustering around metallic cell ribbons and the glass-encapsulant boundary, according to pv magazine. The researchers named it PID-discharge, or PID-d.

Source: pv-magazine.com (opens in a new tab)1 sourcePermalink

Grid & Storage

Helleniq Renewables Completes 200 MWh Battery in Thessaloniki

Helleniq Renewables has completed a 100 MW / 200 MWh battery energy storage system at Helleniq Energy's industrial facilities in Thessaloniki, northern Greece, according to ESS News. Helleniq Renewables is a subsidiary of Greek oil company Helleniq Energy.

The installation is Helleniq Energy's first operational battery storage system and ranks among the largest in Greece, ESS News reported. The system is connected to Greece's national transmission network.

Source: ess-news.com (opens in a new tab)1 sourcePermalink

IndiaGrid & Storage

NTPC Green Energy seeks bids for 3.3 GWh Khavda battery storage

NTPC Green Energy has opened bidding for a battery energy storage system (BESS) rated at 3.3 GWh at Khavda in Gujarat, ESS News reported.

Rated at 3,300 MWh, the installation sits at the NTPC REL Khavda solar plant and splits across four blocks, each positioned at the site's PSS-1, according to ESS News.

Bidders must design the batteries and the wider BESS to last 25 years from commissioning, with capacity degradation handled through the bidder's own proposal under a daily single-cycle operating regime, per ESS News.

Source: ess-news.com (opens in a new tab)1 sourcePermalink

Grid & Storage

Two Australian Battery Projects Name Suppliers and Contractors as Construction Nears

Two battery energy storage projects in Queensland and New South Wales have moved toward construction by signing battery suppliers and an EPC provider, according to RenewEconomy.

For the Teebar BESS in central Queensland, Atmos Renewables selected Enerven to deliver balance-of-plant works and locked in Valo as the battery supplier, RenewEconomy reported.

OX2 chose e-Storage, a subsidiary of Canadian Solar, as the supplier for the Muswellbrook Solar Farm and Battery in New South Wales, according to RenewEconomy.

Source: reneweconomy.com.au (opens in a new tab)1 sourcePermalink

Policy & Geopolitics

Hormuz Shipping Thins as Iran Conflict Forces Oil Cargoes Around Africa

Before the Iran war, the Strait of Hormuz handled nearly 20 percent of liquefied natural gas trade and roughly 27 percent of global seaborne oil trade, according to Al Jazeera figures cited by Archyde.

That flow has thinned. Vessel traffic through Middle Eastern chokepoints has dropped as the Iran war extended into other territories and fighting intensified in Yemen's civil war, Archyde reported. Some petroleum cargoes are now taking longer routes around Africa.

The US-Israel war on Iran has disrupted some energy flows and prompted governments to reassess energy security, according to Archyde.

Iran's Parliament Speaker Mohammad Bagher Ghalibaf said the Strait of Hormuz would stay closed until the United States meets seven conditions tied to a 14-point June Memorandum of Understanding.

Source: archyde.com (opens in a new tab)2 sourcesPermalink

Transport

LG Lansing Plant Shifts Toward Grid-Storage Batteries to Power AI Boom

LG's manufacturing facility in Lansing, Michigan, is expanding from electric vehicle battery production into grid-storage battery production, a shift that could help America power the AI boom and compete with China. Interior Secretary Doug Burgum toured the plant last month as it moved beyond making batteries only for electric vehicles.

The expansion targets the electricity demands of artificial intelligence. Batteries can help bring power online faster by relieving pressure on an already strained grid and getting more capacity out of existing power plants and transmission infrastructure, according to the report. AI data centers require large amounts of reliable, around-the-clock electricity.

Charging demand is sharpening the strain on power systems. A single EV charger can draw up to 2.25 MW of power, according to the Khan report on the EV charging speed race.

Source: khan.co.kr (opens in a new tab)2 sourcesPermalink

Renewables

Five Large Dams Under Construction Mark Global Hydropower Day

Five large dam developments stretching from Tajikistan to Pakistan are moving through different stages of construction, according to Water Power Magazine, illustrating the scale of investment in new hydropower infrastructure.

The projects range along a corridor from the Vakhsh River in Tajikistan to the Indus in Pakistan, with embankments rising, diversion tunnels breaking through and concrete placement systems being prepared for structures that will support thousands of megawatts of generating capacity, according to Water Power Magazine.

Tajikistan's Rogun project on the Vakhsh River is designed with a dam height of 335 metres, Water Power Magazine reported. The development combines a rockfill dam with a power station designed for six 600 MW units, giving a total installed capacity of 3,600 MW, according to Water Power Magazine.

The Lesotho Highlands Water Project is an interconnected system that captures water in the mountainous highlands, transfers it through reservoirs and tunnels, generates hydroelectricity and delivers supplies to South Africa, according to CCE Online News.

Phase II of the project is extending that infrastructure through construction of the Polihali Dam and a new tunnel connecting its reservoir to Katse, CCE Online News reported.

Source: waterpowermagazine.com (opens in a new tab)2 sourcesPermalink

Generation

US, China and Russia Pursue Nuclear Reactors for Lunar Bases

The United States, China and Russia are developing nuclear power infrastructure to support sustained exploration of the Moon, according to Moneycontrol.

NASA is targeting deployment of a lunar surface reactor by 2030, Moneycontrol reported.

Nuclear fission reactors could supply power on the Moon regardless of sunlight, according to the same report.

Source: moneycontrol.com (opens in a new tab)1 sourcePermalink

Grid & Storage

DTEK Imposes Emergency Power Cuts in Kyiv on Ukrenergo Order

Emergency power cuts were introduced in Kyiv and the Kyiv region on the morning of October 11, DTEK said. The company said the cuts were imposed on Ukrenergo's instruction.

Ukrenergo said emergency outages were introduced in several Ukrainian regions because Russian shelling had caused a difficult situation in the power system.

The previously published hourly outage schedules were not in effect during the emergency outages.

Source: en.lb.ua (opens in a new tab)1 sourcePermalink

Oil & Gas

Sri Lanka to Seek Attorney General's Advice on Private Fuel Supply Deals

Sri Lanka's government has decided to seek the Attorney General's advice on agreements signed with private companies engaged in fuel operations, Energy Minister Anura Karunathilaka said. The advice would focus on measures that could be taken if the companies fail to meet their operational obligations.

The move follows reports that several private fuel suppliers had cut distribution in the country's fuel market, according to the Sunday Times. The government provided a detailed explanation in Parliament on the challenges affecting the market.

The immediate response was to increase fuel supply from the Ceylon Petroleum Corporation (CPC), the Sunday Times reported.

CPC Chairman D.J. Rajakaruna said the public had no reason to fear a fuel shortage and confirmed that no further fuel price increase would take place this month.

Source: english.newsfirst.lk (opens in a new tab)2 sourcesPermalink

Oil & Gas

Murphy Reports Oil Discovery Offshore Vietnam, Starts Lac Da Vang Output

Murphy reported an exploration oil discovery at the Lac Da Trang North-1X well in Block 15-1/05 offshore Vietnam, according to World Oil.

The nearby Lac Da Vang development began production on Sept. 27, 2026, World Oil reported.

According to World Oil, the Lac Da Vang development could provide infrastructure for a future subsea tieback of the Lac Da Trang discovery.

Source: worldoil.com (opens in a new tab)1 sourcePermalink

Markets

Seadrill Secures $420 Million Indonesia Drilling Deal, Extends Rigs Across Four Regions

Seadrill Limited has secured new offshore drilling contracts and extensions across Indonesia, Malaysia, Angola and the U.S. Gulf, including a $420 million award for the West Carina drillship, according to World Oil. The deals strengthen the company's contracted rig activity through 2030.

In Indonesia, the West Carina won a contract with an undisclosed operator valued at approximately $420 million for a firm duration of 880 days, World Oil reported.

In Malaysia, Seadrill secured extensions for the West Capella totaling approximately $94 million, according to World Oil.

Offshore Angola, the exercise of all remaining priced options extends the Sonangol Libongos operations by approximately three years, keeping the rig contracted through January 2030.

In the U.S. Gulf, the Sevan Louisiana was awarded a 25-day drilling contract with Kosmos, World Oil reported. Operations under that contract are scheduled to begin in November 2026.

Source: worldoil.com (opens in a new tab)1 sourcePermalink

Oil & Gas

TotalEnergies taps Vallourec for 16,000-tonne tubular supply at Absheron gas field

TotalEnergies has awarded Vallourec a contract to deliver over 16,000 tonnes of tubular products for the Absheron offshore gas field, located in Azerbaijan's portion of the Caspian Sea, World Oil reported.

The order spans oil country tubular goods and roughly 159 km of line pipe tied to drilling, completion and pipeline infrastructure at the development.

Completion accessories and Vallourec's CLEANWELL dope-free technology form part of the supply package. Operational support near the site will run through the company's VAM Caspian subsidiary.

Source: worldoil.com (opens in a new tab)1 sourcePermalink

Oil & Gas

TotalEnergies Pledges Further Diesel Price Cuts in France

TotalEnergies will apply varying price cuts for diesel and heating fuel in France from Nov. 1 to Jan. 31, with road diesel trimmed by about 10 euro cents a liter, according to World Oil.

The reductions target customers including farmers, fishermen, and construction firms, World Oil reported.

The company has already spent about EUR 500 million, equivalent to USD 559 million, to cap prices at its French service stations, according to World Oil.

Source: worldoil.com (opens in a new tab)1 sourcePermalink

Oil & Gas

Viking Opens API-Certified Well Completions Plant in Dhahran

Viking Completion Technology has opened an API-certified plant for manufacturing, testing and service in Dhahran, Saudi Arabia, letting it build well completion equipment inside the Kingdom for domestic operators.

The site runs as a joint venture with Abdulrahman Algosaibi Holdings, a group with several businesses in the country, World Oil reported.

Viking said the plant is one of two in Saudi Arabia certified to API Q1, API 14A, API 11D1, API 19AC and API 14L.

The operation handles equipment assembly, testing and completion assembly, which Viking said cuts reliance on imports and shortens delivery times for Saudi oil and gas operators.

Source: worldoil.com (opens in a new tab)1 sourcePermalink

Transport

Used Ford F-150 Lightnings clear US lots in about 20 days as discounts deepen

Secondhand Ford F-150 Lightnings move off US lots in roughly 20 days, well under half the 44-day average for used vehicles nationwide, Electrek reported.

Demand picked up on the used market once new versions of the electric pickup ran out, according to Electrek. Dealers are listing the trucks at 50% to 60% off sticker price.

Used F-150 Lightning prices have climbed 4% since the start of the year, Edmunds.com reported.

Source: electrek.co (opens in a new tab)1 sourcePermalink

Transport

US EV Sales Hit 266,630 in Q3 2026, Tesla Holds Top Two Spots

US electric vehicle sales reached an estimated 266,630 units in the third quarter of 2026, according to Kelley Blue Book figures cited by Electrek.

Through Q3, the Tesla Model Y and Model 3 held the top two positions in US EV sales, ranking first and second respectively, Electrek reported.

The Hyundai IONIQ 5 was the best-selling EV not made by Tesla, ranking third with 31,112 units sold through September, according to Electrek.

Source: electrek.co (opens in a new tab)1 sourcePermalink

Markets

UN carbon market makes cookstove projects buffer against forest loss

Developers of cleaner cooking projects in the UN carbon market must now reserve a portion of their credits to cover the chance that protected trees are later lost to fire, drought or logging, Climate Home News reported. The sector had asked to be exempted, and the market's regulator turned that request down.

The buffer rule sits inside a new rulebook approved by the Article 6.4 Supervisory Body, the Paris Agreement carbon market regulator, Climate Home News reported. That rulebook governs programmes that cut emissions by handing out new and cleaner cookstoves across regions where households still burn wood or charcoal to cook.

Where natural hazards are involved, developers will calculate local risk values drawn from new modelling published by a group of independent scientists, according to Climate Home News.

Source: climatechangenews.com (opens in a new tab)1 sourcePermalink

Oil & Gas

Equinor adds gas at Gullfaks South in Norwegian North Sea

Offshore Magazine reported that Equinor found gas at the Gullfaks South field, a deposit the company judges likely commercial despite its modest size, sited in the Norwegian North Sea 190 km northwest of Bergen.

Recoverable reserves at the find run between 3.3 million and 10.3 million barrels of oil equivalent on Equinor's estimate, according to Offshore Magazine.

The discovery well was sunk by the jackup Askeladden while it worked on a production well, Offshore Magazine reported.

Source: offshore-mag.com (opens in a new tab)1 sourcePermalink

Policy & Geopolitics

Middle East Supply Risks Lift Oil More Than 2%, Overshadow Russian Diesel Deal

Oil prices rose more than 2% on Oct. 12 as escalating Middle East security risks raised concerns over regional crude exports, according to Oil & Gas Journal.

Renewed attacks on Saudi Arabia and on commercial vessels near the Strait of Hormuz kept oil markets on edge, Oil & Gas Journal reported.

Those developments overshadowed US President Donald Trump's announcement of additional Russian diesel supplies and a proposed Russia-Ukraine energy ceasefire, according to Oil & Gas Journal.

The diesel agreement's effect on physical markets remained uncertain, Oil & Gas Journal said. Ukrainian attacks on Russian refineries have reduced processing capacity, and Russia has faced domestic fuel-supply pressures.

Source: ogj.com (opens in a new tab)1 sourcePermalink

Oil & Gas

DOF Group Wins North Sea Subsea Decommissioning Contract

DOF Group ASA has been awarded a significant contract with a North Sea operator for a subsea decommissioning campaign, according to Offshore Engineer OEDigital.

The contract scope covers project management, engineering, offshore execution and disposal services, OEDigital reported. The work involves removing subsea infrastructure and clearing the seabed across multiple offshore fields.

Offshore operations will be performed by one of DOF's Construction Support Vessels, according to OEDigital.

Source: oedigital.com (opens in a new tab)1 sourcePermalink

Transport

OTTO'S Switches Entire Truck Fleet to Mercedes-Benz eActros 600

Swiss retailer OTTO'S is converting its entire truck fleet to electric drive, according to electrive. The company will run 22 all-electric Mercedes-Benz eActros 600 trucks to supply more than 140 branches in Switzerland with goods.

Most of the electricity for the fleet will come from the photovoltaic system at the company's headquarters, electrive reported. The 22 trucks will be supplied with solar energy from the company's own rooftops.

OTTO'S says the eActros 600 has a range of up to 500 kilometres, which lets it cover most routes without intermediate charging stops. "Around 80 per cent of all daily transport routes fall within this distance," OTTO'S CEO Mark Ineichen said, according to electrive.

Source: electrive.com (opens in a new tab)1 sourcePermalink

Transport

Renault and EDF to Launch Bidirectional Charging in France Next Summer

Renault Group and Électricité de France (EDF) will launch a bidirectional charging offering in France next summer, according to electrive. The solution bundles an electric vehicle, a wallbox, and intelligent charging management.

The package targets private customers and will be distributed through Renault Group's dealer network, electrive reported. It includes installation of a home charging station, carried out by IZI and EDF, along with an intelligent charge management service.

Source: electrive.com (opens in a new tab)1 sourcePermalink

Oil & Gas

UK Opens Second Consultation on Offshore Decommissioning Derogation Guidance

The United Kingdom government opened a second consultation on draft supplementary guidance for the derogation methodology under OSPAR Decision 98/3 on 12 October 2026, according to UK DESNZ. The consultation covers offshore decommissioning derogations for oil and gas installations.

UK DESNZ said it is inviting views on draft supplementary guidance for the decommissioning of offshore oil and gas installations.

The revisions respond to public feedback received after the previous consultation in 2025, according to UK DESNZ.

The consultation closes at 11:59pm on 6 December 2026.

Source: gov.uk (opens in a new tab)1 sourcePermalink

Oil & Gas

Delta Cuts 2026 Profit Outlook on Fuel Surge as Refinery Earns $1.36 Billion

Delta Air Lines cut its 2026 profit outlook as high fuel prices persisted, according to The City Weekly. CEO Ed Bastian said pricier fares have not turned off travelers.

Bastian said in an interview that fares have continued to tick up as the airline passes along much of a $6 billion increase in fuel costs this year, and that travelers keep booking.

The company's oil refinery generated $1.36 billion in operating profit from 2022 through 2025, according to View from the Wing. The outlet wrote that the refinery does not make Delta's flight fuel economically cheaper; it is a refining business that can earn more when jet fuel becomes expensive.

Source: viewfromthewing.com (opens in a new tab)2 sourcesPermalink

Policy & Geopolitics

Pakistan to Launch Targeted Electricity and Gas Subsidy System in 2027

Pakistan plans to introduce a new electricity and gas subsidy system in 2027 aimed at verified low-income households, according to Daily Times.

The new electricity subsidy mechanism is scheduled to begin in January 2027. The revised subsidy system for gas consumers is set to take effect on July 1, 2027.

To identify eligible consumers, the Power Division has started developing a socioeconomic registry with support from the World Bank, Daily Times reported.

Source: dailytimes.com.pk (opens in a new tab)1 sourcePermalink

Policy & Geopolitics

Tanker MT Petro Dolphin Attacked Off Oman, Two Indian Sailors Missing

The Nicaragua-flagged tanker MT Petro Dolphin was attacked at Sohar Anchorage off Oman on October 11, according to Union Shipping Minister Sarbananda Sonowal.

All 11 crew members aboard the vessel were Indian nationals. Nine sailors were rescued and confirmed safe, while two remained missing.

The local Coast Guard began search-and-rescue operations, and Indian officials coordinated with Omani authorities to locate the missing sailors.

Source: sundayguardianlive.com (opens in a new tab)1 sourcePermalink

Oil & Gas

Diesel Prices Now Track 10-Year Treasury Yields More Closely Than Crude, Sen Says

Energy analyst Amrita Sen said that since May, 10-year U.S. Treasury yields have correlated more closely with diesel prices than with crude oil prices, the first time this has happened.

Sen said diesel and gasoline, not crude oil, drive inflation.

The U.S. national diesel average hit a record USD 6.5276 per gallon on Sept. 22, according to the figures she cited. It stood at USD 6.3895 on Oct. 1, against USD 3.7068 a year earlier.

The 10-year U.S. Treasury par yield reached 5.28% on Oct. 7, then eased to 5.22% on Oct. 8 and 5.24% on Oct. 9.

Source: tokenpost.com (opens in a new tab)2 sourcesPermalink

Oil & Gas

Mexico Weighs Fracking to Cut US Gas Reliance, Drawing Local Opposition

Mexico is considering fracking to reduce its reliance on US natural gas, drawing opposition from northern communities concerned about water scarcity and environmental damage, according to Anadolu Agency.

The proposal is intended to raise domestic natural gas production and cut dependence on the US, which supplies about 75% of the gas Mexico consumes, Anadolu Agency reported.

The plan to explore fracking has sparked protests over potential water contamination and environmental damage.

Source: usmuslims.com (opens in a new tab)3 sourcesPermalink

Markets

MGEN to Bid in Meralco 900 MW Auction to Advance Atimonan Coal Plant

Meralco PowerGen Corp. (MGEN) is preparing to bid for Manila Electric Co.'s 900 MW baseload supply requirement to advance its 1,200 MW coal-fired power plant in Atimonan, Quezon, according to philstar.com. MGEN is turning to its parent, Meralco, in a bid to move the long-stalled project forward.

MGEN President and CEO Emmanuel Rubio called the auction MGEN's last opportunity to execute the Atimonan project. "Hopefully, when we win it, we can build it. This is the last opportunity for MGEN to execute Atimonan," Rubio said.

Rubio said the Atimonan plant will run on coal.

The 15-year power supply agreement resulting from the competitive selection process will cover delivery of 600 MW by February 26, 2031, with an additional 300 MW by February 26, 2032, according to businessmirror.com.ph.

Source: bworldonline.com (opens in a new tab)3 sourcesPermalink

Oil & Gas

PDVSA Faces 44 Remaining Oil Contracts Before December 31 Deadline

PDVSA has 44 hydrocarbon contracts left to finalize under Venezuela's new legal framework ahead of a self-imposed December 31 deadline. PDVSA president Héctor Obregón confirmed this week that 61 contracts have already been executed under the framework, against a total target of 105 agreements.

The signed deals do not by themselves lift output. Analysts at Kpler identified rig shortages and deteriorated infrastructure as the primary obstacles to converting contracts into additional production, warning that signed agreements alone cannot resolve a physical production ceiling.

Source: riotimesonline.com (opens in a new tab)2 sourcesPermalink

Oil & Gas

UK Diesel Tops GBP 2 a Litre for First Time, Squeezing North East Charities

The average price of diesel in the UK has risen above GBP 2 per litre for the first time, according to the RAC motoring group. Charities and businesses across North East England said the rising cost was causing financial strain.

Daft as a Brush, a Newcastle-based cancer charity that transports patients to hospital appointments, said it was spending GBP 15,000 per month on diesel, according to the BBC. That monthly bill ran GBP 5,000 higher than the previous year.

Source: bbc.co.uk (opens in a new tab)1 sourcePermalink

Policy & Geopolitics

Britain Removes VAT From Household Electricity Bills

Britain introduced a tax change on October 1 that removes VAT from household electricity bills, according to AOL. The government expects the move to reduce the annual energy price cap by around £45.

The measure is intended to ease pressure on families as colder weather approaches and energy use typically rises during winter, AOL reported.

The government expects energy suppliers to pass the VAT reduction on to customers with fixed energy tariffs, potentially helping to lower their bills, according to the Express.

Source: aol.co.uk (opens in a new tab)2 sourcesPermalink

Policy & Geopolitics

Goldman Sachs Sees Energy Policy Shift Hinging on Spain's November Election

Spain's general election could reshape the country's energy policies and create both opportunities and risks for utility companies, according to Goldman Sachs. The vote is scheduled for November 29, brought forward from August 2027.

In an October 6 report, Goldman Sachs said a government led by the centre-right People's Party could introduce more market-friendly energy policies. Those would include greater support for nuclear power, renewable energy and data centre development.

Goldman Sachs expects the election's overall impact on most Spanish utilities to be neutral to positive. Detailed party manifestos have not yet been published.

Source: investing.com (opens in a new tab)3 sourcesPermalink

Oil & Gas

IEA Urges Members to Speed Up Diesel Releases as Global Market Tightens

The International Energy Agency urged its members to accelerate pledged diesel releases and consider supplying more as global markets tighten, according to Bloomberg.

IEA head Birol encouraged all members, including those that have already completed their pledged releases, to assess whether further diesel releases are needed and to set out their scale and timing, according to Bloomberg Law.

The IEA's 32 members agreed in March to release 400 million barrels from emergency reserves, the largest such action in the agency's history, according to investinglive.

Source: bloomberg.com (opens in a new tab)3 sourcesPermalink

Oil & Gas

Supertanker Rates Hit USD 1.4 Million Per Day on Gulf-to-Asia Route

Supertanker rates on the Persian Gulf-to-East Asia route reached USD 1.4 million per day in the first week of October, according to Bloomberg data cited by RocketNews.

That level marked a 40% increase from September's record rate of USD 1 million per day on the same route, RocketNews reported.

JPMorgan attributed the oil-market bottleneck to limited shipping capacity rather than a shortage of crude.

Ship-to-ship transfers in the Gulf of Oman are consuming a significant portion of the global very large crude carrier fleet, leaving vessels waiting for weeks outside the Strait of Hormuz, according to RocketNews.

Source: rocketnews.com (opens in a new tab)2 sourcesPermalink

Oil & Gas

UN Warns Developing Nations Face Triple Shock From Energy, El Niño and Borrowing Costs

The UN's development arm warned that developing countries face a triple shock from the energy crisis, El Niño and surging borrowing costs, and need urgent support from the international community.

The El Niño climate pattern is expected to cause widespread crop failures and increase the risk of extreme weather events, while a global bond sell-off drives up government borrowing costs.

Bond financing for developing countries now costs 9%, according to UNDP administrator Alexander De Croo.

Source: theguardian.com (opens in a new tab)3 sourcesPermalink

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