DALLAS, TEXAS / AGILITYPR.NEWS / October 02, 2026 / Dallas energy company targets up to 15 crude carriers to expand Hormuz-linked transport capacity as President Trump presses Europe to release reserves and the G7 front-loads diesel supply

PIF Energy today announced a planned $2 billion investment to acquire up to 15 crude oil tankers, adding seaborne transport capacity at a time when disruption around the Strait of Hormuz and tight refined-product markets are intensifying the global fuel crisis.

The company said vessel acquisitions are already under way and are intended to create a fleet capable of moving crude from producing markets through the Strait of Hormuz to refineries and downstream customers. PIF Energy expects to complete the initial acquisition program within three to four weeks, subject to vessel availability, commercial due diligence and customary closing conditions.

The announcement follows sustained pressure from US President Donald J. Trump for European countries to make additional emergency fuel stocks available as diesel prices and supply concerns rise. On 2 October, the G7 said it would coordinate through the International Energy Agency the release of 100 million barrels of diesel, crude oil and other reserves over four months, beginning immediately. The plan includes a substantial front-loaded diesel release within the first 20 days and a commitment to avoid energy export restrictions between G7 countries.

Ben Morrow, founder and CEO of Dallas-based PIF Energy, said:

“President Trump’s call for Europe to release more reserves reflects the urgency now facing the fuel market. The G7’s 100-million-barrel commitment can provide near-term relief, particularly through the front-loaded diesel release, but emergency stocks are a bridge rather than a permanent solution. The market also needs dependable physical capacity to move crude from producing regions to the refineries that can turn it into diesel, gasoline and other essential products."

“Our planned investment is focused on that transport constraint. A fleet of up to 15 crude carriers would give PIF Energy the ability to schedule repeatable voyages, respond to refinery demand and help keep barrels moving through one of the world’s most strategically important energy corridors. Vessel selection, operating readiness and commercial discipline will be central to the programme because adding ships only matters if they deliver reliable tonnes and barrels to the right markets at the right time."

“The human impact is immediate. Farmers, truckers, manufacturers and households are absorbing higher fuel costs throughout the supply chain. Strategic reserve releases can help calm the short-term shock; sustained shipping and logistics capacity can support resilience beyond it. PIF Energy intends to invest where it can make a practical contribution: moving crude, supporting refinery supply and helping reduce the risk that transport bottlenecks deepen the global fuel crisis. That is how we put our Pay It Forward mission to work.”

PIF Energy said the acquisition program will prioritize crude carriers suited to its intended trading routes and customer requirements. Each vessel added to the fleet would increase the company’s capacity to connect producing markets with refineries, complementing emergency stock releases with longer-term logistics capability.

Diesel supply is critical to agriculture, road freight and industrial activity, while crude availability and refinery throughput influence costs across the wider economy. PIF Energy said its strategy is designed to address the transport link in that chain by increasing access to flexible tanker capacity during a period of heightened geopolitical and supply risk.

Morrow added: “The test is not whether the industry can generate a headline response; it is whether it can sustain deliveries after emergency measures have run their course. Our objective is steady, repeatable movement of crude to the refineries and markets that need it, supported by assets that can operate through changing market conditions.”