Daily Update — October 26, 2026
Qantas’ Carbon Credit Partnership; Russia’s 1st Diesel Shipment to US since 2022; and Gas for Texas’ Grid
Today is Monday, October 26, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Expansion
Qantas announces A$30M partnership for Australian carbon credit units
Qantas announced a A$30 million partnership with Greening Australia and Conscious Investment Management to restore cleared land in South Australia, with the first project targeting nearly 800 hectares in Barngarla Country, Hayley Alchin, Qantas’ executive manager for climate strategy, finance and reporting, said at the Australasian Emissions Reduction Summit 2026.
The investment aims to generate Australian carbon credit units (ACCUs) for native afforestation-based environmental planting, Alchin said. The executive did not provide details on the investment structure, project timeline or expected ACCU generation from the restoration project. The announcement builds on Qantas' existing investments in nature-based carbon projects, including its participation as a foundational investor in the Silva Carbon Origination Fund in 2024.
Global Trade
Russia shipping first diesel cargo to US this week after sanctions waiver
Russia is set to dispatch its first diesel tanker to the US on Oct. 22 after the Trump administration issued sweeping sanctions waivers aimed at reopening trade flows, Russian Deputy Prime Minister Alexander Novak said. The first tanker, a medium-range ship with a displacement of about 40,000 metric tons, will depart from Russia's Baltic coastline, Novak told local media, adding that more batches will follow. It will be the first shipment of its kind to leave for the US since January 2022, before the US first sanctioned Russian energy flows.
Historically the world's second-largest exporter of seaborne diesel, Russia still faces restrictions on its capacity due to targeted Ukrainian attacks on its refineries. However, the country has partially relaxed a diesel export ban intended to conserve its domestic supply, in a concession to easing US sanctions.
Oil & Gas
How much new gas capacity does the Texas grid need?
The Texas grid experienced record electricity demand in summer 2026 while posting some of the lowest power prices in nearly a decade. This combination, while beneficial for customers, creates a tough investment environment for those wanting to build a gas plant. With surging demand projections and increasingly extreme weather swings, many believe Texas needs significant new dispatchable generation, primarily gas, to prepare.
This episode of the “Energy Evolution” podcast features a recording from the Gulf Coast Power Association's fall conference in Austin, where S&P Global Energy editor Dan Testa hosted a discussion on grid reliability, the effectiveness of policies such as the Texas Energy Fund’s loan program, the role of renewables and storage, and how Texas compares with other markets encouraging new dispatchable generation. Testa was joined by David Dardis, chief external affairs and growth officer at Constellation Energy; Elaina Ball, chief strategy officer at San Antonio municipal utility CPS Energy; and Mason Lester, principal analyst on the North American power team at S&P Global Energy.
In case you missed it
- Oversupply, weak demand and concerns over Indonesian supply risks continue to affect the physical nickel market, creating pessimism among European nickel traders.
- As India’s oil production increases, Indian companies could play a larger role in Venezuela's energy sector by importing more heavy crude for processing and exploring investment opportunities in upstream projects, US Secretary of State Marco Rubio said.
- Asia-Pacific telcos and pay TV operators are investing more in over-the-top partnerships and proprietary streaming services in 2026 as consumers increasingly adopt on-demand content.
Upcoming events
- Novel and promising, but bottlenecked: Q4 2026 Supply Chain Outlook (APAC) | October 27 (Webinar)
- Powering Asia's AI Economy: The Convergence of Data Centers, Energy and Digital Infrastructure | October 29 (Singapore)
- Transforming Credit Workflows with AI: Prompting Your Way to Success | November 3 (Webinar)