Tuesday, 13 October 2026

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.

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.

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.

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.

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.

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.

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.

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.

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.