Tuesday, 13 October 2026

Riyadh hosted the 16th session of the Arab Ministerial Council for Electricity under the chairmanship of Saudi Arabia, the current chair of the council.

Ministers reviewed progress on the signing and ratification of two agreements that would establish the Arab Common Electricity Market. The session also covered a pilot electricity exchange project among Jordan, Saudi Arabia and Egypt.

Energy ministers from OPEC and non-OPEC countries in the Declaration of Cooperation said shipping and insurance costs have risen to more than one third of oil's commodity value, creating obstacles for transporting crude oil and products, according to Investing.com.

The ministers said disruptions to energy supply have added to inflationary pressures on the global economy.

They underlined the importance of safeguarding international maritime routes and stressed that the elevated costs are prolonging the burden on both producing and consuming countries and weighing on global economic growth, according to a release on OPEC's website. The ministers linked the cost increase to difficulties in transporting crude oil and products.

Pakistan ran furnace-oil-fired power plants at full capacity and postponed maintenance at some nuclear power plants to manage electricity shortages after disruptions to Qatari LNG supplies, Reuters reported.

Only two LNG cargoes had been confirmed for Pakistan for September. A standard LNG cargo delivered to the country contains around 140,000 cubic metres, slightly more than a week's supply.

energyRe closed an $815 million financing package for five solar projects based in South Carolina. The deal covers utility-scale projects totaling approximately 360 MW of new generating capacity across the state.

The five projects are contracted under 25-year power purchase agreements, according to energyRe.

Bank of America, Canadian Imperial Bank of Commerce and Santander supported the financing. Bank of America served as documentation agent and Santander acted as financial advisor to energyRe.

The Michigan Public Service Commission postponed its decision on Consumers Energy's proposed sale of dams to Confluence Hydro until November, while the two companies continue negotiating the details of the transaction, according to Our Midland and Manistee News.

The sale requires approval by the commission.

Consumers Energy officials said the company would begin the process of decommissioning its 13 dams if the sale is not approved, a process that would take several years.

The national average price for a gallon of on-highway diesel reached $6.20 on Oct. 5, according to Investigate Midwest.

The weekly national average for on-highway diesel increased 67% over the past year, Investigate Midwest reported. In the Midwest, prices increased 71% over the same period.

The price increases prompted federal and state action to lower fuel costs, according to Investigate Midwest. The measures included an executive order relaxing restrictions on tax-exempt red-dyed diesel fuel.

India's non-fossil fuel energy capacity passed 300 GW in July 2026, more than half of its total installed capacity, according to an article carried by IANS.

The article said India crossed its 50% non-fossil installed power capacity target in June 2025, five years ahead of schedule.

It argued that Western countries continue to focus on India's coal-fired power plants in the climate change debate while overlooking the rapid pace at which the country is adding renewable capacity across solar, hydel, and wind power, according to IANS.

Ghana's energy ministry convened sector leaders and stakeholders to review its 2026 performance and set priorities for 2027, according to Ghana News Online.

Energy Minister John Abdulai Jinapor said the 2027 priorities would centre on building a reliable, affordable, sustainable and resilient energy sector capable of supporting economic growth and improving the livelihoods of Ghanaians, according to GhanaWeb.

Jinapor said accountability, efficiency, transparency and value for money must underpin the operations of agencies under the ministry, GhanaWeb reported.

Distributed Energy Infrastructure (DEI) announced the harvest of two cranberry agrivoltaics projects in Massachusetts: the Black Cat project in Plymouth and the Ring Road project in Kingston.

DEI said the two sites produced what it described as the first-ever agrivoltaic cranberry harvests.

The Black Cat project carries 1 MW of capacity, according to DEI, paired with an energy storage system rated at 2,700 kWh of installed energy capacity.

The Ring Road project is larger at 4.4 MW and is matched with a 13.5 MWh battery energy storage system, DEI said.

The Chairman of the Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya, called on indigenous Nigerian oil and gas companies to consolidate their technical and financial capacities so they can compete for bigger projects and benefit from asset divestments.

The push comes as Nigeria's return to Frontier Market status brought 31 Nigerian companies into the FTSE Frontier Index Series, according to Nairametrics. Aradel Holdings and Oando Plc were the only two indigenous Nigerian energy companies among the constituents.

Nigeria's return to Frontier Market status took effect on September 21, 2026.

The US Department of Energy (DOE) has selected 14 hydropower projects to enter negotiations for testing assistance through the Hydropower Testing Network, according to powerinfotoday.com. The program supports developers working to advance technologies toward commercial deployment.

The selected projects cover new power generation and storage systems, equipment maintenance, environmental monitoring and fish passage, powerinfotoday.com reported.

If negotiations are completed, developers will receive vouchers for in-kind support from testing facilities matched to their technical requirements.

Pumped hydro remains one route for storing electricity at grid scale. At the Hiwassee Dam, a reversible unit pumps water to the upper reservoir when electricity demand is low and reverses the process to produce 85 MW when demand is high, according to ecoportal.net. At full pumping capacity, Unit 2 can move up to 1.75 million gallons of river water per minute uphill into the upper reservoir.

BWXT's reactor has been chosen for a microreactor project pairing a transportable design with an Indigenous-led power plant, according to Exchange Monitor.

The BWXT Advanced Nuclear Reactor, known as BANR, is designed as a high-temperature gas-cooled transportable microreactor with a generating capacity of 22 MW of electricity.

The selection followed Prodigy making public its plans to build an Indigenous-led nuclear power plant with a generating capacity of up to 50 MW, according to a Monday press release cited by Exchange Monitor. The plant would be located within the traditional territory of the Pabineau and Eel River Bar First Nations.

The long-term uranium price ended September at $96.50 a pound, the highest month-end reading in Cameco's pricing data going back to 1996, according to Startup Fortune.

The record price did not lift Cameco's stock. Cameco shares closed down 6.9% for the year on October 2, Startup Fortune reported.

Against that pricing backdrop, Denison Mines' Wheeler River project ranks as a significant high-grade uranium discovery in Canada's Athabasca Basin, according to Kalkine Media. The Athabasca Basin location gives the project access to established uranium mining infrastructure.

Two leading Canadian energy companies made strategic changes last week that favor their core oil sands operations as federal energy policy became clearer, according to Argus Media.

Cenovus Energy signed a deal to acquire smaller rival Athabasca Oil for C$5.7 billion, equivalent to USD 4 billion, Argus Media reported. The move came less than two years after Cenovus acquired MEG Energy for C$8.6 billion.

Suncor Energy sold interests offshore Atlantic Canada for C$1.2 billion to Ithaca Energy, a UK independent, as it restructures its balance sheet toward oil sands operations, according to Argus Media.

Suncor this year also applied to raise the capacity of its Firebag steam-assisted gravity drainage project to 700,000 b/d from 331,500 b/d, Argus Media reported.

China's Dashixia Water Control Project in Xinjiang has started generating electricity after its first two generator units were connected to the power grid, according to the Wilayah report carried via Event Registry.

In a separate development, production has begun in the sixth cascade at Urenco USA's National Enrichment Facility in New Mexico, bringing the facility's ongoing capacity expansion to 75% completion, according to World Nuclear News.

Eurozone sovereign bond yields fell as crude oil futures retreated, according to Investing.com. The pullback followed U.S. President Donald Trump's announcement of an unconfirmed energy ceasefire between Russia and Ukraine.

Germany's 10-year government bond yield dropped to 3.46%, while the policy-sensitive two-year Bund yield slipped to 3.07%, Investing.com reported.

France's 10-year OAT yield eased to 4.84%, and its two-year yield pulled back to 3.625%, according to Investing.com.

New Stratus Energy and Baker Hughes have signed a memorandum that is not a binding contract, according to Kalkine Media. The company's own risk disclosure lists its ability to reach a binding agreement as an uncertainty.

Under the proposed cooperation, Baker Hughes would apply technology across subsurface, drilling, production, processing, digital, emissions abatement, power generation, monetization and liquefied natural gas, Kalkine Media reported.

S&P 500 futures rose around 0.3% and Nasdaq 100 futures climbed closer to 0.5% as crude retreated, according to Investing.com. Treasury futures recovered as the oil spike faded, the analysis said.

The pullback in crude eased pressure that had built in bond markets through the week. The 10-year US Treasury yield approached 5.4% last week, its highest level since 2002, Investing.com reported. Equities largely looked through that move, according to the same analysis.

India's peak electricity demand is projected to climb to 459 GW by financial year 2035-36, from around 245 GW, according to an Anand Rathi research report.

The report ties the near-doubling of demand to a wider need for storage and stronger grids to support renewable generation.

Rising electricity demand is also driving consolidation among North American utilities, according to Kalkine Media.

Trustees overseeing the Port of Galveston's wharves voted unanimously to grant Power LNG a lease and development agreement for a $240 million liquefied natural gas production and marine fueling plant planned for Pelican Island, Hydrocarbon Processing reported.

The site would sit on roughly 30 acres of port land, with two liquefaction units feeding daily output of 400,000 gallons of LNG at startup. Supporting infrastructure includes a 3-million-gallon storage tank, an underground gas pipeline and a pier for loading ships.

Later phases could lift daily output to 800,000 gallons, twice the initial rate.

Power LNG expects to place equipment orders in early 2027, with commercial production slated for the fourth quarter of 2028, according to Hydrocarbon Processing.

India's battery storage requirement is projected to reach 236.22 GWh by FY2031-32, requiring INR 3.49 trillion in investment as the country expands renewable energy and strengthens grid flexibility, according to a report cited by responsibleus.com.

Separately, Elara Capital initiated coverage on Adani Power with an accumulate rating and a target price of INR 220, according to Business Today.

Nordex Group recorded 2,810 MW of orders in its Projects segment, excluding the Service business, in the third quarter of 2026, according to EQS News. The figure was 29.5% higher than the same quarter a year earlier.

Nine-month order intake reached 7,733 MW, up 16.1% from 6,661 MW in the corresponding period of 2025, according to Kalkine Media.

Rooftop solar output across Australia's National Electricity Market (NEM) reached 17,488 MW at 12:00 AEST on October 11, 2026, a new record, according to RenewEconomy. The reading surpassed the previous high of 16,993 MW set on September 20, 2026.

The new mark was 495 MW, or 2.91%, above the record set three weeks earlier, RenewEconomy reported.

The Sunday peak capped a run of records over five days, from October 7 to October 11, 2026, with new rooftop photovoltaic output highs in South Australia, Victoria, New South Wales and across the NEM. New South Wales set its own record of 6,346 MW on October 9, 2026, following earlier highs in South Australia and Victoria that week, according to RenewEconomy.

Port of Astoria commissioners approved a 25-year, $1.8 million loan from Business Oregon to cover cleanup costs from an oil spill at the port, according to The Astorian.

The total cleanup cost about $2.1 million, according to Port Finance Director Melanie Howard. Insurance paid out $250,000, leaving a balance of $1.8 million with GrayMar, Howard said.

Heating oil customers facing soaring bills have been promised better regulation of the sector by the government, according to the BBC.

Ministers say they will tighten rules, promote competition and give customers clearer compensation routes when things go wrong, the BBC reported.

Industry practices that set minimum order volumes at 500 litres for some customers will be reviewed, according to the BBC.

There is no sign the government will extend the regular gas and electricity tariff cap to heating oil customers in England, Scotland and Wales, nor any indication of when the stricter rules will take effect, the BBC reported.

Tesla has extended its Powershare Home Backup function to the Model 3 and Model Y, allowing the vehicles' traction batteries to supply electricity during a grid outage, according to electrive.

Tesla estimates that the Premium and Performance versions of the Model 3 and Model Y can provide more than two days of household backup power for a home consuming 30 kWh per day, electrive reported.

The system can supply up to 11.5 kW of continuous power. Powershare Home Backup currently requires a Tesla Powerwall 3 and a compatible Tesla Wall Connector.

Tesla guarantees compatibility for Model 3 and Model Y vehicles ordered in the US and Puerto Rico from 1 October 2026 onward, according to electrive. Some earlier vehicles will also be compatible depending on their hardware, though the brand does not assure this.

Work has started in Dumbrava-Deal, Neamț County, Romania, on a battery storage installation rated at 50 MW and 100 MWh, with EPC contractor Parapet handling delivery, ESS News reported.

MetaWealth, a European investment platform, holds ownership of the asset, which the companies expect to reach commercial operation in spring 2027, according to ESS News.

The installation pairs 20 battery storage units with five power conversion system units, ESS News reported.

Alongside the batteries, the developers plan a 20 / 110 kV high-voltage substation carrying a 63 MVA transformer.

The partnership between Stellantis and Leapmotor has moved from investment and international distribution into vehicle production and development, according to electrive.

Leapmotor is building the B10 at Stellantis' Zaragoza plant in Spain, electrive reported.

The Stellantis brand Opel is developing an electric SUV with Leapmotor for 2028, according to electrive.

For that joint vehicle, Opel handles chassis, steering, lighting, seats, design and user experience, electrive reported. Leapmotor supplies expertise in electrical and electronic architecture, batteries and electric powertrains, and opens access to its procurement and supplier network.

Oil prices ticked down as Saudi oil executives moved to reassure the market after a major attack on the capital's airport, according to Semafor Net Zero.

International energy executives were largely absent from the World Petroleum Council Energy Congress in Riyadh following the Houthi attack, Semafor Net Zero reported. The congress was held in Riyadh for the first time.

The chief executives of BP, Shell and TotalEnergies withdrew from the event because of the strikes, according to Semafor Net Zero. A group of international ministers, including US Energy Secretary Chris Wright, also dropped out.

Trump announced that the US would waive sanctions on Russian diesel exports until the spring and permit 300,000 metric tons of diesel to enter the global market, according to Semafor Net Zero.

A bipartisan group of senators condemned the diesel deal, Semafor Net Zero reported.

Russia seems to have violated the energy ceasefire almost immediately, according to Semafor Net Zero.

Utility-scale renewables and renewable portfolio standards show no link to higher residential electricity prices across the United States, but rooftop solar does, according to a study by Massachusetts Institute of Technology (MIT) researchers reported by pv magazine.

The price effect tracks rooftop solar's cut of total generation. Where that share climbs 5 percentage points, residential power prices run roughly 16% higher, pv magazine reported.

Copenhagen Infrastructure Partners (CIP) has acquired a 25% stake in the Five Estuaries offshore wind project in the UK, buying in from a Macquarie-led consortium after RWE exited the development, according to Offshore Engineer OEDigital.

The project carries a capacity of 1.1 GW, per Offshore Engineer OEDigital.

The transaction resets the ownership split among the remaining partners. EDF power solutions holds 33.33%, CIP 25%, ESB 20.83% and Sumitomo Corporation 20.83%, according to Offshore Engineer OEDigital.

CIP said it would work with the other shareholders as a long-term investor to advance the project toward construction and operation.

Most Americans oppose data center development in their communities regardless of their political or climate change views, according to The Conversation Energy.

Among surveyed U.S. adults, 56% said they would oppose building a data center in their local area, while 15% said they would support it, according to The Conversation Energy.

The gap held across party lines. Among registered voters, about three-quarters of liberal Democrats and about half of conservative Republicans opposed having a data center built locally, according to The Conversation Energy.

Opposition ran highest among Americans most worried about climate change, at 71%, according to The Conversation Energy.

Kongsberg Maritime has secured a contract from IWS Fleet to supply vessel design and integrated technology systems for four new commissioning service operation vessels (CSOVs) intended for offshore wind operations, according to Offshore Engineer OEDigital. IWS Fleet is a subsidiary of Integrated Wind Solutions (IWS).

The scope of work covers electrical power systems, navigation and bridge systems, propulsion, deck machinery, dynamic positioning and overall system integration, according to Offshore Engineer OEDigital.

The four vessels will be built by Nantong Rainbow Offshore & Engineering Equipment, based on Kongsberg Maritime's UT 5519 DEx design, which the outlet describes as the next generation of the Skywalker Class.

The first of the four vessels is scheduled for delivery in 2029, according to Offshore Engineer OEDigital.

ProLogium and Rimac Technology unveiled a concept mock-up of their planned solid-state battery pack in Paris, according to electrive.

The functional battery segment now under development will be showcased at CES 2027, according to Rimac Technology.

The two companies plan to begin vehicle tests on public roads in the second half of 2028, electrive reported.

France-based Exide Technologies has brought out Solition Powerflex, a modular battery energy storage system built for commercial and industrial sites.

Each outdoor cabinet pairs a 261 kWh lithium iron phosphate (LFP) battery with a 125 kW bidirectional power conversion system.

Operators can string up to 15 cabinets in parallel for grid-connected use, reaching 3.915 MWh of combined capacity and 1.875 MW of power output.

The system carries a nominal round-trip efficiency of 86% including auxiliary consumption, according to Exide's technical datasheet reported by pv magazine and ESS News.

Canada announced an investment of almost $270 million for clean and reliable energy in New Brunswick, according to Natural Resources Canada. Tim Hodgson, Minister of Energy and Natural Resources, made the announcement.

The largest portion is a $219-million site development loan from the Canada Infrastructure Bank (CIB) to NB Power for the Mactaquac Life Achievement Project, Natural Resources Canada said. The loan supports technical studies, regulatory reviews, First Nations engagement and planning activities.

Natural Resources Canada is also providing NB Power with $50 million for the Static Synchronous Compensator (STATCOM) project at the Salisbury Terminal, intended to strengthen southern New Brunswick's electricity system.

Tesla added more US public fast-charging ports than any other network in the third quarter, installing 1,287 ports plus another 124 through its Supercharger for Business program, according to Electrek.

The additions brought the US total to 80,964 public fast-charging ports across 14,614 locations, Electrek reported.

Tesla raised its charging prices over the year. Its average non-member Supercharger price rose 15%, while its member price increased 9%, according to Electrek.

Oil and gas blocks overlap with nearly 62 million hectares of protected and conserved areas across the tropical countries examined, according to a report cited by Mongabay.

Mining concessions overlap with a further 43 million hectares of protected and conserved areas across those same countries, Mongabay reported.

Nadège Nzoyem, WWF's regional director for the Congo Basin, said mining has no place in landscapes that governments have committed to conserve. "Protected areas are protected areas," she told Mongabay.

Chinese researchers developed high-entropy molecular contacts that pushed inverted perovskite solar cells to a certified steady-state efficiency of 27.31%, according to pv magazine.

The champion device reached a power conversion efficiency of 27.50% under reverse-scan conditions, pv magazine reported.

The high-entropy molecular-contact approach also improves thermal stability by preventing molecular-contact degradation, according to pv magazine.

Seadrill secured offshore drilling contracts spanning multiple countries, according to Offshore Engineer OEDigital.

In Indonesia, the West Carina drillship was awarded a contract with an undisclosed operator for an estimated firm duration of 880 days, according to Offshore Engineer OEDigital.

In Angola, exercised options extended the Sonangol Libongos drillship's operations by approximately three years, according to Offshore Engineer OEDigital.

In the U.S. Gulf, the Sevan Louisiana rig was awarded a 25-day contract with Kosmos, according to Offshore Engineer OEDigital.

TotalEnergies has awarded Vallourec a contract to supply more than 16,000 tonnes of tubular products for the Absheron gas field in Azerbaijan's sector of the Caspian Sea, according to Offshore Engineer OEDigital.

The scope covers oil country tubular goods and line pipe, including approximately 159 kilometers of anticorrosion-coated line pipe for onshore and offshore applications, Offshore Engineer OEDigital reported.

For the OCTG portion, Vallourec will supply premium pipes with VAM connections, including its VAM SLIJ-3 semi-flush connection designed for offshore environments. The package also includes accessories made across Vallourec's global facilities and its CLEANWELL dope-free technology.

KwaZulu-Natal Premier Thamsanqa Ntuli welcomed a convoy of new-energy vehicles in Durban ahead of South African Auto Week and the KwaZulu-Natal Investment Conference, according to SAnews.

The convoy travelled to Durban from various South African provinces as part of the Escaping the Noise 3.0 NEV Road Trip initiative, SAnews reported.

KwaZulu-Natal is positioning itself to attract investment and create jobs in the emerging new-energy vehicle sector as South Africa transitions toward cleaner transport technologies, according to SAnews.

Residents across Ohio are demanding that local governments impose bans and moratoria on data centers, according to Inside Climate News. The state has 21 local ballot measures related to the facilities, the outlet reported, including votes on restrictions in 10 communities.

Campaigners are gathering signatures for a statewide ballot measure that could go before voters in 2027, according to Inside Climate News.

The prospect of unchecked data center development has galvanized opposition among Ohioans across geographic and political divides, the outlet reported, uniting urban and rural, Democrat and Republican residents alarmed about the spread of the facilities.

Georgia utility regulators signed off on an arrangement linking Georgia Power and Google, Grist reported.

Google's contributions toward refurbishing the state's nuclear fleet begin in 2028, per Grist. The utility is targeting four aging units across Plant Vogtle and Plant Hatch, aiming to lift their output.

Google's payments take the form of a subscription charge layered onto its power bill, with the proceeds directed at funding the reactor work.

CATL and Intilion have signed an agreement to jointly develop up to 3 GWh of sodium-ion battery storage projects across German-speaking Europe over five years, according to ESS News.

The two companies intend to deploy CATL's sodium-ion battery solutions in Germany, Austria and Switzerland, ESS News reported. Intilion CEO Hubertus Jakobi announced the agreement in a LinkedIn post on Oct. 9.

ESS News noted that the 3 GWh amount is a development target rather than a confirmed volume of battery deliveries.

The expected buyer of a tanker order is a proposed joint venture of state-run shipping and oil marketing companies led by Shipping Corporation of India Ltd (SCI), according to The Economic Times.

The tankers would be the first such carriers built locally in 25 years, The Economic Times reported.

The Dominican Republic and Venezuela will explore direct purchases of petroleum products after their presidents met in Rome on Monday, October 12, according to Rio Times Online.

The talks between Luis Abinader and acting president Delcy Rodríguez covered direct purchases of liquefied petroleum gas (LPG) and AC30 paving asphalt, Rio Times Online reported.

Abinader's office said state refiner Refidomsa and Venezuela's PDVSA will work out the details for both governments.

Crude oil surged $2.42, or 2.6%, during Monday's trading day to reach $94.27 a barrel, according to finanzen.ch and finanznachrichten.de.

The gain came after prices fell early in the session on hopes of a Russia-Ukraine energy ceasefire.

The price spike followed fresh attacks on Saudi Arabia's aviation infrastructure by Iran-backed Houthi militants and a drone strike on a tanker near the Sohar anchorage off Oman, according to the same reporting.

Qatar sent a delegation headed by Minister of State for Energy Affairs Saad Sherida Al-Kaabi to the 16th session of the Arab Ministerial Council for Electricity, convened in Riyadh alongside Riyadh Energy Week, the Qatar Tribune reported.

Talks focused on tighter electricity cooperation among Arab states, sharing technical know-how, and backing investment projects, with ministers weighing modern technologies for the region's power infrastructure.

The ministers worked through a set of reports from the council's specialized committees. Those covered renewable energy, energy efficiency, plans for a common Arab electricity market, and the peaceful use of nuclear energy for power generation and seawater desalination.

Bank of America's metals and mining desk favors copper and uranium producers, citing global supply constraints that collide with soaring power-grid demand to support higher prices for both commodities.

The desk raised its 2026 average copper forecast by 3%, according to Bank of America.

BofA analyst Lawson Winder said higher US interest rates should keep the dollar bid while weighing on gold.

BofA named Freeport-McMoRan as its top copper stock and Cameco as its top uranium pick.