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President Donald Trump signed an executive order Oct. 16 waiving key sanctions and tariffs under the Graham Act, including duties on Russian goods and penalties for countries that buy Russian oil and gas. The measures were due to take effect within days. Earlier Russia sanctions imposed under previous executive orders remain in place. US Secretary of State Marco Rubio said the administration would use up to 60 days to assess the economic effects. The order specifies no expiration date, and the waiver remains in effect pending further action by the administration. Brent crude futures fell Oct. 19 from a 5-month high as traders weighed the prospect of more Russian supply against continued Middle East risks. December Brent futures traded around $108/bbl in morning dealings, down 1% to 2%. Diesel deal The waiver follows a separate diesel agreement. Trump said Russia would immediately supply more than 300,000 tonnes of diesel to the US and global markets, followed by 500,000 tonnes in November and 1 million tonnes after that. He also cited a further 3 million tonnes, depending on the condition of Russian refineries. Delivery remains uncertain. Ukrainian strikes have damaged Russian refineries, while Moscow’s diesel export restrictions remain partly in place despite easing on Oct. 10. Middle East risks The potential increase in Russian fuel exports comes as shipping disruptions continue to constrain Middle Eastern oil supplies. According to Kpler data, Gulf crude flows fell to an average of about 8.5 million b/d last week, compared with more than 20 million b/d the preceding week. Shipping security has also deteriorated. Kpler reported at least 10 confirmed incidents involving commercial vessels last week. Separately, Iran’s Islamic Revolutionary Guard Corps said a tanker struck a naval mine and exploded in the southern Strait of Hormuz on Oct. 18, according to Iranian media cited

WASHINGTON—The U.S. Department of Energy (DOE) announced today that it will use up to $42 million in Defense Production Act (DPA) Title III funding to advance the development of a proposed 125-mile natural gas pipeline from Pennsylvania to New York.  Constitution Pipeline Company, LLC’s project will transport natural gas to markets across the Northeast that currently experience limited access to the low-cost reliable fuel. By leveraging DPA authorities, DOE is helping strengthen the security of the nation’s energy system and defense industrial base. The project will also dramatically lower electricity and home heating costs across the region. “Despite America having an abundant supply of low-cost natural gas, tens of millions of Americans have limited access to this reliable energy source due to a lack of pipeline infrastructure,” said U.S. Secretary of Energy Chris Wright. “President Trump promised to lower energy costs and reverse the energy emergency he inherited that was caused by 17 years of energy subtraction policies. That is why he promised to build the Constitution Pipeline – a project that will transform the lives and economic opportunities for Americans across New York and New England. It will also reduce the risk of blackouts during periods of peak electricity demand and make our nation more secure.” “For too long, families and businesses in New York and other blue states have paid the price for anti-energy policies that kneecap production, block critical infrastructure and drive up costs,” said Secretary of the Interior and Chairman of the National Energy Dominance Council Doug Burgum. “President Trump is reversing that failed approach, choosing abundance over government-imposed scarcity. This historic investment in New York will help deliver the reliable, secure energy Americans deserve while saving families across the Northeast billions of dollars.” This investment supports President Trump’s commitment to ensuring all Americans have access

The US Federal Energy Regulatory Commission (FERC) Oct. 15 proposed rules allowing certain LNG plant activities to proceed without case-specific authorization orders and separately proposed changes to its review of operational air-quality effects from gas pipelines and other projects. The proposals would accelerate infrastructure development by streamlining authorizations and reducing duplicative environmental reviews. FERC unanimously proposed a blanket authorization program for eligible LNG plant activities modeled on the commission’s blanket certificate program for interstate natural gas pipelines, which has operated for about 40 years. Under the three-tier framework, LNG developers could gain authorization for major construction projects, including new liquefaction trains, storage tanks, and marine berths, following a 90-day notice-and-protest period. Eligible projects could extend beyond an existing plant’s footprint but permanently occupy no more than 25 acres of previously disturbed or developed land or waterways in industrially zoned or unzoned areas. Developers also would be required to use the same or upgraded versions of equipment previously evaluated and authorized at the terminal. Projects that increase authorized capacity while remaining within an existing footprint and equipment design limits could gain authorization after a 60-day notice period. Other activities would qualify for automatic authorization, subject to notification and reporting requirements, provided they would not increase authorized capacity, expand the plant footprint, or exceed equipment design limits. Unlike the existing pipeline blanket certificate program, the LNG proposal contains no dollar limits on eligible projects. FERC will accept comments for 60 days after publication in the Federal Register. Air permitting requirements FERC also issued a draft policy statement that would change how it evaluates operational air-quality effects from natural gas pipelines and other projects under the National Environmental Policy Act (NEPA). Under the proposal, FERC would stop requiring applicants to submit air-dispersion modeling and would no longer use the modeling in its NEPA

Vår Energi ASA has discovered gas and condensate in the Lakris prospect in Gimsan basin on the Halten Terrace in the Norwegian Sea. Well 6407/5-3 S was drilled by the COSL Prospector semisubmersible drilling rig about 170 km northwest of Kristiansund in production license 1002 to a vertical depth of 4,225 m subsea. It was terminated in the lower Jurassic. Water depth at the site is 218 m. Preliminary calculations place the size of the discovery at 0.2-0.9 million standard cu m of recoverable oil equivalent (1.3-5.5 MMboe), the Norwegian Offshore Directorate reported. The objective of the well was to prove petroleum in Cretaceous reservoir rocks in the Nise formation, as well as in Lower Jurassic reservoir rocks in the Tilje formation. The well encountered gas and condensate in the upper Tilje formation in heterolithic reservoir rocks totaling 54 m, with moderate to poor reservoir quality. The gas-water contact was not encountered in the well. Hydrocarbon shows were proven in the lower Tilje formation. The well did not encounter a sandstone reservoir in the Nise formation, but elevated gas values were recorded in the interval. The Garn, Ile, and Tofte formations were also investigated, but the intervals were aquiferous and the reservoir quality was moderate to poor. The well was not formation-tested, but data and samples were collected. The well will now be permanently plugged. Vår Energy is operator of the license. Equinor serves as partner.

Chord Energy Corp., Houston, has appointed Michael Lou as president and chief executive officer (CEO), effective Oct. 19, 2026. Lou also has been appointed and elected to the company’s board of directors. Lou succeeds Danny Brown, who stepped down as president and CEO to take on the chief executive role at Expand Energy Corp. Lou holds has more than 25 years’ experience in the oil and gas industry, including 17 years in various leadership positions at Chord and its predecessor companies. Before his appointment as president and CEO, Lou served as Chord Energy’s executive vice-president, chief strategy officer, and chief commercial officer from March 2024 through October 2026. Formerly, he was executive vice-president and chief financial officer (CFO) from July 2022 to March 2024. Prior to the merger of Whiting Petroleum and Oasis Petroleum, he served in roles including CFO and executive vice-president for Oasis Petroleum and its subsidiaries and president and director of the general partner of Oasis Midstream Partners. Lou began his career in investment banking, where he spent 10 years holding positions of increasing responsibility at several global investment banks focused in the energy sector.