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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
852.50
0.00
655.00
-5.00
Jun 24
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	852.50	0.00	655.00	-5.00	Jun 24

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
472.54	-6.86	560.20	-5.49	762.82	-7.88	Jun 25

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MABUX Market Differential Index (MDI)

Correlation between market bunker prices (MBP) and MABUX Digital Bunker Price Benchmark (DBP)

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	Date
Rotterdam	435	435	0	485	489	-4	655	660	-5	Jun 25
Singapore	437	445	-8	522	532	-10	655	693	-38	Jun 25
Fujairah	420	480	-60	518	537	-19	728	846	-118	Jun 25
Houston	413	452	-39	490	568	-78	667	715	-48	Jun 25

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Latest News
- 2025-06-25
  Oil prices rise as investors assess Iran-Israel ceasefire
  Oil prices climbed on Wednesday as investors assessed the stability of a ceasefire between Iran and Israel, but held near multi-week lows on the prospect that crude oil flows would not be disrupted. Brent crude futures rose 85 cents, or 1.3%, to $67.99... Read more Oil prices climbed on Wednesday as investors assessed the stability of a ceasefire between Iran and Israel, but held near multi-week lows on the prospect that crude oil flows would not be disrupted.
  Brent crude futures rose 85 cents, or 1.3%, to $67.99 a barrel at 0341 GMT, while U.S. West Texas Intermediate (WTI) crude gained 87 cents, or 1.4%, to $65.24.
  Brent settled on Tuesday at its lowest since June 10 and WTI since June 5, both before Israel launched a surprise attack on key Iranian military and nuclear facilities on June 13.
  Prices had rallied to five-month highs after the U.S. attacked Iran’s nuclear facilities over the weekend.
  "Global energy prices are moderating following the Israel-Iran ceasefire. The base case for our oil strategists remains anchored by fundamentals, which indicate sufficient global oil supply," said JP Morgan analysts in a client note.
  U.S. airstrikes did not destroy Iran’s nuclear capability and only set it back by a few months, according to a preliminary U.S. intelligence assessment, as a shaky ceasefire brokered by U.S. President Donald Trump took hold between Iran and Israel.
  Earlier on Tuesday, both Iran and Israel signalled that the air war between the two nations had ended, at least for now, after Trump publicly scolded them for violating a ceasefire.
  As the two countries lifted civilian restrictions after 12 days of war - which the U.S. joined with an attack on Iran’s uranium-enrichment facilities - each sought to claim victory.
  
  "The Israel-Iran ceasefire is likely to prove fragile. But so long as both parties show themselves unwilling to attack export-related energy infrastructure and/or disrupt shipping flows through the Strait of Hormuz, we expect bearish fundamentals in the oil market to continue ... from here," said Capital Economics chief climate and commodities economist David Oxley.
  Direct U.S. involvement in the war had investors worried about the Strait of Hormuz, a narrow waterway between Iran and Oman, through which between 18 million and 19 million barrels per day (bpd) of crude oil and fuel flow, nearly a fifth of global consumption.
  
  Investors awaited U.S. government data on domestic crude and fuel stockpiles due on Wednesday. [EIA/S]
  Industry data showed U.S. crude inventories fell by 4.23 million barrels in the week ended June 20, market sources said, citing American Petroleum Institute figures on Tuesday. [API/S] Source: Reuters/Investing.com
- 2025-06-25
  Hungary's Veto Complicates EU Enlargement Aspirations
  A day after the NATO summit in The Hague ends, EU leaders will take the short journey south to Brussels for their regular summer European Council. Kicking off on the morning of June 26, this summit may continue into the next day as there are plenty of... Read more A day after the NATO summit in The Hague ends, EU leaders will take the short journey south to Brussels for their regular summer European Council. Kicking off on the morning of June 26, this summit may continue into the next day as there are plenty of items on the agenda -- most notably Iran, where the EU is struggling to stay relevant.
  
  According to the Brussels diplomats I have spoken with, however, the bloc still aims to act as a conduit for potential direct talks between the United States and Tehran.
  
  That said, there are also several key political decisions on the table -- especially concerning Ukraine.
  
  When Poland took over the six-month rotating presidency of the Council of the European Union with much pomp and circumstance at the start of the year, the stated goal was that formal EU accession talks would start with Ukraine and Moldova during the first six months of 2025.
  
  Polish diplomats had even confidently voiced hopes that more than one of the six negotiating clusters would be opened during their chairmanship.
  
  It's fair to say that things have not panned out as expected.
  
  'Last Chance Saloon'
  
  Unanimity is needed for every cluster to be opened, and Hungary has persistently blocked any move to this effect, even conducting a widely criticized consultative referendum on Ukrainian EU membership.
  
  This summit is something of a "last chance saloon" to unblock the situation but few diplomats believe that Hungarian Prime Minister Viktor Orban will give it much thought.
  
  Some think that maybe things will get moving on this issue after the summit in July when Denmark takes over the presidency.
  
  However, since this has increasingly become a domestic political issue in Hungary, most believe Budapest will continue vetoing progress until the country's parliamentary elections in April 2026.
  
  As regards Ukraine and Moldova, the draft summit declaration seen by RFE/RL states that "the European Council looks forward to the next steps in the accession process in line with the merit-based approach, with clusters being opened when the conditions are met."
  
  The key question now is whether Ukraine and Moldova should be separated in the accession process, as none of the 27 EU member states appear opposed to allowing Chisinau to proceed.
  
  Several member states, however, are reluctant to green-light this "decoupling" as they don't want to "succumb to Hungarian blackmail" as they put it, and believe that the pair should continue together on the road to membership.
  
  A Carrot For Moldova
  
  On the other hand, the EU also wants to give Moldova a carrot, with the first-ever EU-Moldova summit in early July and what are expected to be tightly fought parliamentary elections in September.
  
  The most likely scenario, however, is that all preparatory work on the accession talks will continue in the hope that every cluster can be opened once there is approval from everyone.
  
  Related: Pakistan Strikes Critical Win With Oil, Gas Wildcat Discovery
  
  For now, the most likely candidate to show concrete progress at the end of June is Montenegro, which is expected to close a cluster of chapters on June 27.
  
  So much for the "EU enlargement momentum" eurocrats have so often keenly propagated in previous years.
  
  If there is one area where Hungary -- and increasingly Slovakia -- may be more willing to move forward, it is on sanctions against Russia.
  
  And there are two decisions to be taken on sanctions: the newly proposed 18th round of restrictive measures and the six-month rollover of all sanctions imposed on the Kremlin since the full-scale invasion of Ukraine nearly three years ago.
  
  Quid Pro Quo?
  
  Several European diplomats have indicated that there might be something of a quid pro quo during the summit, whereby both sanctions decisions will be adopted, but it will be generally accepted that Ukraine cannot move forward on the accession path for now.
  
  For most officials, the most important thing is to get an extension of all the previous sanctions.
  
  This includes all frozen Russian assets in the bloc, totaling over 200 billion euros ($230 billion).
  
  Hungary was toying with the idea of not a giving thumbs-up to the prolongation last time around in January, but officials think that it won't be too dramatic this time, with Russia's increased attacks on Ukrainian civilian targets making any calls for potential peace talks moot.
  
  The fact that the actual deadline for the extension isn't till the end of July means most people RFE/RL has spoken are confident that something can be worked out.
  
  For the 18th sanctions package, most things have been agreed on a diplomatic level already.
  
  This is not too surprising, as most of the blacklistings and proposals -- such as de-SWIFTing Russian banks and sanctioning Nord Stream 1 and 2 -- have been relatively uncontroversial.
  
  Quick approval is also more likely now that the headline proposal to lower the Russian oil price cap from $60 to $45 per barrel appears unlikely to gain traction.
  
  The United States didn't get onboard with this idea at the recent Group of Seven summit, and few believe that the EU -- even with potential political support from allies such as Britain and Canada -- is willing or able to lower the cap without Washington. Source: Oilprice.com
- 2025-06-25
  Trump Signals Strategic Shift: China Can Buy Iranian Oil
  President Trump dropped a geopolitical bombshell: in a post on Truth?Social, he announced that "China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the US, also." This declaration signals a notable pivot... Read more President Trump dropped a geopolitical bombshell: in a post on Truth?Social, he announced that "China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the US, also."
  
  This declaration signals a notable pivot from the so-called "maximum pressure" campaign Trump reinstated in February?2025, which aimed to slash Iranian oil exports to near zero. Instead, Trump appears to be leveraging this concession to coax China into importing American energy—linking geopolitical maneuvers with trade incentives.
  
  Coming on the heels of his announcement of a tentative Israel?Iran ceasefire, this move underlines Trump’s transactional diplomacy: brokering Middle East calm in exchange for strategic trade gains. While U.S. airstrikes targeted Iran’s nuclear facilities, Trump now extends clemency to China on its Iranian oil imports—a calculated reward for non-interference and trade cooperation.
  
  Analysts stress this isn’t about oil prices—the real story lies in Trump’s attempt to transform U.S. diplomatic leverage into economic advantage. China, which silently eyed the ceasefire, refrained from harsh backlash and kept its vital Iranian oil lifeline intact. In return, Trump wants China to import more American oil—a potential win for U.S. producers and domestic energy policy.
  
  It’s a high-stakes game: Washington loosens pressure on Iran to coax China away from Iranian energy, swap dependence for U.S. barrels, and reward restraint. But Beijing—aware of cheaper Iranian and Russian sources—may balk.
  
  We’re witnessing a new fusion of military brinksmanship with economic brinkmanship. Trump’s message is clear: de-escalation gets rewarded, and oil becomes the currency. Whether Beijing takes the deal, and whether Tehran stays in line, remains to be seen. Source: Oilprice.com
- 2025-06-25
  MABUX: Global bunker market to maintain downward trend on Jun.25.
  The MABUX World Bunker Index—a composite indicator tracking daily prices for 380 HSFO, VLSFO, and MGO—fell sharply on Jun.24, driven by expectations that a potential ceasefire between Israel and Iran will ease concerns over oil supply disruptions in the... Read more The MABUX World Bunker Index—a composite indicator tracking daily prices for 380 HSFO, VLSFO, and MGO—fell sharply on Jun.24, driven by expectations that a potential ceasefire between Israel and Iran will ease concerns over oil supply disruptions in the Middle East:
  
  380 HSFO - USD/MT - 479.40 (-35.81)
  VLSFO - USD/MT – 565.69 (-31.08)
  MGO - USD/MT – 770.70 (-48.74)
  
  As of Jun.24, the MABUX Market Differential Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP)— continued to indicate undervaluation across all fuel grades at major global ports: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Discount margins widened by $13 in Rotterdam, $11 in Singapore, $11 in Fujairah, and $6 in Houston.
  
  • VLSFO segment: Undervaluation remained unchanged in Rotterdam, increased by $1 in Fujairah and $11 in Houston, but decreased by $8 in Singapore. Houston’s MDI once again exceeded the $100 mark.
  
  • MGO LS segment: Discounts held steady in Houston, but surged by $65 in Rotterdam, $43 in Singapore, and $37 in Fujairah. The MDI for both Singapore and Fujairah remained above the $100 threshold.
  
  We expect a sustainable downward trend in the global bunker market to continue on Jun.25: 380 HSFO – minus 10-20 USD/MT, VLSFO – minus 10-25 USD/MT, MGO LS – minus 10-35 USD/MT.
  
  Source: MABUX
- 2025-06-25
  Europe Struggles To Find Diplomatic Role in Israel-Iran Conflict
  Europe is still looking for a role in the Israel-Iran conflict after it was caught by surprise following the United States’ strikes on Iran over the weekend. But it is fair to say they say there is a sense of humiliation as the American attack on various... Read more Europe is still looking for a role in the Israel-Iran conflict after it was caught by surprise following the United States’ strikes on Iran over the weekend. But it is fair to say they say there is a sense of humiliation as the American attack on various nuclear facilities in Iran came some 24 hours after the foreign ministers of the E3 (France, Germany, the United Kingdom) and the EU foreign policy chief Kaja Kallas met with their Iranian counterpart Abbas Araqhchi in Geneva on June 20.
  
  Now, those talks didn’t lead to much, not even an agreement for a new rendezvous.
  
  But Kallas was adamant when pressed on the issue going into the EU foreign affairs council on June 23 that Tehran has been opening up on nuclear and broader security issues.
  
  Not that US President Donald Trump agreed. He claimed that European efforts had gone nowhere and that the Iranians weren’t even that keen to speak to them.
  
  So what now?
  
  European foreign ministers will be discussing the issue in Brussels and there are a few contours of a common position -- even if it may not have much impact on the ongoing conflict.
  
  In fact, it boils down to the Europeans believing that diplomacy is the only way out and that Europe still is ready and experienced enough in dealing with Iran. This may not come in handy right now -- but at some point, it might.
  
  The main goal for Brussels and other European capitals is to facilitate space for the Iranians and Americans to talk directly to each other. They failed miserably with this in Geneva, but there will be more opportunities.
  
  German Foreign Minister Johann Wadephul noted before going into the Brussels meeting that Washington is still encouraging the Europeans to stay in contact with Iran.
  
  French Foreign Minister Jean-Noel Barrot insisted that Israeli and American strikes won’t on their own keep Iran from getting a nuclear bomb. That, he said, can only be regulated through diplomacy.
  
  Would this be some updated Joint Comprehensive Plan of Action (JCPOA) -- the European-inspired deal struck with European help back in 2015?
  
  This agreement limited Tehran’s nuclear program in exchange for sanctions relief.
  
  The EU still clings to the JCPOA as a symbol of European diplomatic achievement. In truth, the deal suffered a major blow during Trump’s first term, as it was seen as a legacy of his predecessor, Barack Obama. Under President Joe Biden, it was barely limping along, with both Washington and Tehran adopting increasingly hard-line positions.
  
  Now it appears dead with little chance of being resurrected.
  
  But there are still aspects of it that can have an impact.
  
  Kallas noted that the Europeans still had the option of a sanctions "snapback" on Iran under the JCPOA. This would add a layer of pressure, but, in reality, this is not on the table for now, according to European diplomats familiar with the matter whom RFE/RL has spoken to.
  
  Much like with Ukraine and potential peace talks, it appears that Europe might be a future payer but not a player. And it is weary of criticizing Israel and the United States too much.
  
  European Weapons Embargo?
  
  There is talk of a European weapons embargo on Israel as well as a suspension of an EU-Israel trade deal given the alleged human rights abuses going on in Gaza.
  
  Neither is likely to fly as the divisions in the EU are too deep.
  
  As for the United States, the worries over the latest strikes are even more muted -- for numerous reasons.
  
  The EU is in the middle of avoiding a transatlantic trade war with hopes of some sort of a deal being struck over the summer.
  
  It’s also on the eve of a crucial NATO summit in which it hopes that the United States stays committed to defending Europe and that Trump won’t slam European defense spending laggards too much.
  
  And eastern EU countries are still hoping that it can persuade Washington to maintain troop levels in their countries amid talks of sweeping reductions.
  
  With the latest conflict in the Middle East, there has even been opportunistic chatter that the US presence in Europe might be beefed up given the potential spill-over effect on the continent.
  
  So, expect Europe to express worry and call for diplomatic solutions., but not much else. Source: Oilprice.com
- 2025-06-25
  Brent Drops Below $70 as Israel-Iran Ceasefire Holds
  - US electricity demand is expected to soar to levels not seen since the summer of 2013 as regional operator PJM warned of consumption potentially reaching 158 GW, with temperatures nearing 100°F. - Power demand in the US averaged 36.5 BCf/d over the... Read more - US electricity demand is expected to soar to levels not seen since the summer of 2013 as regional operator PJM warned of consumption potentially reaching 158 GW, with temperatures nearing 100°F.
  
  - Power demand in the US averaged 36.5 BCf/d over the weekend before skyrocketing to 47.5 BCf/d on 24-25 June, greatly slowing down the pace of US natural gas storage injections this week.
  
  - Henry Hub gas futures in the US showed little reaction to the unfolding Israel-Iran conflict and moved within a relatively narrow $3.5-4.0 per mmBtu range throughout June, with the September 2025 contract remaining the most traded one.
  
  - Higher temperatures have capped US feed gas demand around 15 BCf/d despite the return of Sabine Pass LNG from a month-long maintenance period, just as global LNG prices shed all geopolitical risk premium and are back to trading at $13 per mmBtu.
  
  Market Movers
  
  - US LNG developer Glenfarne signed a non-binding agreement with Thailand’s national oil company PTT for ‘strategic participation’ in the 20 mtpa Alaska LNG project, preliminarily agreeing on supplying 2 mtpa LNG for 20 years.
  
  - Italy’s oil major ENI (BIT:ENI) is seeking to spin off its Italian refining business into a separate entity as part of its ‘satellite’ strategy to attract more investment, including its recently built bio-refineries.
  
  - UK energy giant BP (NYSE:BP) has suspended the development of its blue hydrogen project at its Whiting refinery in Indiana, as the Department of Energy disbursed only $22 million from a Biden-era $1 billion hydrogen grant.
  
  - Canada’s midstream giant Keyera (TSE:KEY) has agreed to purchase the entire Canadian NGL business of Plains All American Pipeline’s (NASDAQ:PAA) for $5.15 billion plus select US assets.
  
  Tuesday, June 24, 2025
  
  Oil prices reacted to the Israel-Iran ceasefire quicker than they did at the onset of the conflict, falling by $6.5 per barrel on Monday, with ICE Brent continuing the drop below $70 per barrel. The closure of the Strait of Hormuz seems to be off the immediate agenda, provided the two belligerent sides stick to the truce, putting a largely unexpected end to the most volatile trading period since the summer of 2022.
  
  US LNG Capacity To Boom under Trump. US LNG major Cheniere Energy (NYSE:LNG) took a final investment decision in the expansion of the Corpus Christi LNG project, boosting the site’s capacity by two additional trains with a capacity of 6 mtpa to a total of 60 mtpa, all the while debottlenecking 5 mtpa of future liquefaction.
  
  India Imports Record Volumes of Oil. India’s crude imports reached an all-time high of 23.32 million metric tonnes in May, up 10% from a month ago, with Russia accounting for almost 40% of total imports and Iraq taking a 22% share, whilst Saudi Arabian inflows continue to decline.
  
  Iraq’s Upstream Gets Caught in the Crosshairs. European oil companies operating in Iraq have started evacuating their staff from the Middle Eastern country’s oil fields, with BP (NYSE:BP), ENI (BIT:ENI), and TotalEnergies (NYSE:TTE) all claiming that these measures would not impact production.
  
  Central Europe Blocks EU’s Energy Sanctions. The European Union struggles to adopt its 18th sanctions package against Russia after member countries Hungary and Slovakia vetoed the phase out of Russian energy imports, but Brussels is seeking ways to sidestep their opposition.
  
  Venezuela’s Refining Starts to Fall Apart. Venezuela’s state oil firm PDVSA was forced to halt production at its 310,000 b/d Cardon refinery after a power blackout, losing some 50,000 b/d of refined products output less than a month after the plant restarted its fluid catalytic cracking unit.
  
  Middle East Insurance Rates Balloon. US attacks on Iranian nuclear sites and Tehran’s attack on Qatar have pushed insurance rates across the Middle East to 0.5% of cargo value, a fourfold increase from a month ago, whilst VLCC freight rates have also doubled week-on-week to $60,000 per day.
  
  ‘King Coal’ Set to Return in Style. As both European and Asian LNG prices moved past $14 per mmBtu, thermal coal prices rose to multi-month highs with Europe’s API 2 futures contract seeing the highest daily traded volume this year on Monday, in anticipation of firm summer demand.
  
  Defying Producers, Congo Extends Cobalt Export Ban. Cobalt prices rose to a 3-month high after the Democratic Republic of Congo extended its ban on cobalt exports for another three months, triggering the ire of miners Glencore and CMOC as Wuxi futures soared above $35 per kg.
  
  Canada Is Finally a LNG Producer. The $40 billion LNG Canada project developed by Shell (LON:SHEL) produced its first liquefied natural gas for export, set to become the first cargo in Canada’s history, with LNG carrier Gaslog Glasgow expected to arrive at Kitimat on 29 June for loading.
  
  China’s Solar Ambition Knows No Bounds. Under pressure from Trump’s tariffs, China has been boosting domestic solar installations as last month’s tally of new solar capacity soared to 93 GW, a new all-time high and a 30% increase over the previous record, also set by China last December.
  
  Niger Nationalizes French Uranium Mine. Niger’s military junta seized control of the Somair uranium mine, operated by France’s nuclear giant Orano after Niamey accused the French side of extracting more uranium than the allowed 63.4% stake, thus violating the shareholder agreement.
  
  LNG Freight Soars on Tanker Tightness. As Asia’s benchmark JKM liquefied natural gas prices rose to $14.8 per mmBtu earlier this week, only to plunge back to $13.2 per mmBtu after the ceasefire announcement, LNG freight rose to an 8-month high, with the Atlantic daily rate climbing to $51,750 per day.
  
  China Doubles 2025 Naphtha Quota. China issued its second batch of import quotas for 2025, almost doubling last year’s allocations to 24 million tonnes, with Beijing seeking to ensure adequate petrochemical feedstock supply after the Trump administration derailed ethane exports to China.
  
  Source: Oilprice.com
- 2025-06-25
  US Crude Oil Inventories See Another Sharp Draw
  The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell again, this time by 4.277 million barrels in the week ending June 20 after analysts had estimated a much more conservative 600,000-barrel draw. The draw... Read more The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell again, this time by 4.277 million barrels in the week ending June 20 after analysts had estimated a much more conservative 600,000-barrel draw. The draw adds to last week’s shockingly massive 10.133 million barrel inventory decrease.
  
  So far this year, crude oil inventories are up 3.3 million barrels, according to Oilprice calculations of API data.
  
  Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) climbed 200,000 barrels to 402.5 million barrels in the week ending June 13. Inventory levels in the SPR are hundreds of millions shy of the levels in inventory prior to the SPR withdrawal that took place under the Biden Administration.
  
  At 1:33 pm ET, Brent crude was trading down $4.15 (-5.81%) on the day, landing at $67.33—a more than $7 per barrel decrease from this time last week.
  
  WTI was also trading down on the day, by $3.99 (-5.82%) at $64.52—a roughly $8.50 decrease from last week’s level.
  
  Gasoline inventories rose in the week ending June 20, by 764,000 barrels, after falling by 20,000 barrels in the week prior. As of last week, gasoline inventories were 2% below the five-year average for this time of year, according to the latest EIA data.
  
  Distillate inventories fell this week by 1.026 million barrels. In the week prior, distillate inventories rose 318,000 barrels. Distillate inventories were already a starting 17% below the five-year average as of the week ending June 13, the latest EIA data shows.
  
  Cushing inventories—the benchmark crude stored and traded at the key delivery point for U.S. futures contracts in Cushing, Oklahoma—fell 75,000 barrels in the week after falling 800,000 barrels in the week prior. Source: Oilprice.com
- 2025-06-25
  Senate Parliamentarian Blocks Fast Track for Oil, Gas Projects
  The U.S. Senate’s top rule-keeper just threw a wrench into Republican plans to speed up fossil fuel development. Senate parliamentarian Elizabeth MacDonough has ruled that key provisions in the sweeping OBBB Act—aimed at fast-tracking oil, gas, and mining... Read more The U.S. Senate’s top rule-keeper just threw a wrench into Republican plans to speed up fossil fuel development. Senate parliamentarian Elizabeth MacDonough has ruled that key provisions in the sweeping OBBB Act—aimed at fast-tracking oil, gas, and mining projects—can’t bypass environmental review unless they clear a 60-vote threshold.
  
  That means GOP efforts to use budget reconciliation to skirt the National Environmental Policy Act (NEPA) are dead on arrival unless they gain bipartisan support. The parliamentarian flagged several provisions as violations of the Byrd Rule, which bars non-budget items from being stuffed into budget bills. Among them: language declaring offshore oil and gas projects automatically compliant with NEPA, an attempt to greenlight a mining road in Alaska, and a provision allowing gas exporters to simply pay their way into a “national interest” designation.
  
  Also on the chopping block: a clause that would’ve required the Interior Department to issue leases within 90 days and one that restricted its ability to lower renewable energy fees. All must now face regular legislative scrutiny—with filibuster-proof majorities.
  
  The ruling arrives just weeks after the Supreme Court narrowed the scope of NEPA itself, siding unanimously with the Uinta Basin Railway project. That decision, written by Justice Brett Kavanaugh, stressed that NEPA is “a procedural cross-check, not a substantive roadblock.”
  
  Yet this week’s ruling is a reminder: Congress still has to play by the rules when rewriting environmental law.
  
  Senate Majority Leader John Thune downplayed the setback, calling it part of the “process.” But Democrats, led by Senator Jeff Merkley, are sharpening their knives: “Democrats will not stand idly by while Republicans attempt to circumvent the rules of reconciliation in order to sell off public lands to fund tax breaks for billionaires.”
  
  The message is clear: Fast-tracking fossil fuel development isn’t as easy as slipping a few lines into a megabill. Source: Oilprice.com
- 2025-06-25
  Former CFO of Nigeria’s State Oil Firm Arrested Over Alleged $7-Billion Fraud
  Nigeria’s Economic and Financial Crimes Commission has arrested two ex-oil officials, including the former chief financial officer of Nigeria’s state energy firm NNPC, over an alleged $7.2-billion fraud, corruption, and abuse of office. The financial... Read more Nigeria’s Economic and Financial Crimes Commission has arrested two ex-oil officials, including the former chief financial officer of Nigeria’s state energy firm NNPC, over an alleged $7.2-billion fraud, corruption, and abuse of office.
  
  The financial crimes authorities have arrested Umar Ajiya Isa, a former CFO at NNPC, as well as Jimoh Olasunkanmi, a former managing director of the Warri refinery in Nigeria. Three other officials are being investigated, according to a statement from the commission carried by Bloomberg.
  
  The two former executives are under investigation for alleged corruption, embezzlement, abuse of office, and kickbacks from contractors.
  
  Isa was arrested over alleged fraud for the revamp and rehabilitation of Nigeria’s old oil refineries, Kaduna, Warri, and Port Harcourt, Nigerian outlet Premium Times reports.
  
  Despite annual allocations of funds for the refineries’ rehabilitation, they haven’t been producing fuel in recent years.
  
  The latest arrests and investigations come as Nigeria’s President Bola Tinubu and his administration are working to eradicate corruption in the oil industry and boost the country’s oil production.
  
  The top African oil-producing country has consistently failed to pump to its OPEC+ quota due to oil theft, vandalism, and struggles to launch new projects.
  
  Nigerian authorities have been clamping down on oil theft and have been supportive of an increase in oil and gas output in recent months.
  
  Nigeria’s government last month urged the oil companies operating in the country to collaborate to increase oil output in the producer that hasn’t been able to pump to its OPEC quota for years.
  
  Meanwhile, the private Dangote refinery in Nigeria, Africa’s largest crude processing facility, is ramping up production of fuels and is set to ship its first gasoline cargo out of the African region with a vessel heading for Asia.
  
  The refinery, which began operations last year, has so far exported gasoline only to the West African region. Source: Oilprice.com
- 2025-06-25
  Russia Considers AI Data Centers as Collapsing Gas Sales Create Glut
  Russia could use its excess natural gas to power AI data centers or crypto mining operations, Russian officials have said, as Moscow’s pipeline gas exports to Europe have collapsed and led to an oversupply at home. Russian gas supply via pipelines... Read more Russia could use its excess natural gas to power AI data centers or crypto mining operations, Russian officials have said, as Moscow’s pipeline gas exports to Europe have collapsed and led to an oversupply at home.
  
  Russian gas supply via pipelines to Europe has slumped since 2022, after Russia cut off many EU customers from its gas deliveries, and Nord Stream stopped supplying gas to Germany, after Russia reduced flows and after a sabotage in September 2022.
  
  “Previously, half a billion cubic meters per day went through the gas pipelines to the West, but now it does not, and the question of what to do with this gas is very urgent,” Alexei Chekunkov, Minister for the Development of the Russian Far East and Arctic, said at a recent economic forum in St. Petersburg, as carried by Reuters.
  
  Last month, Chekunkov said that excess gas could be used to power cryptocurrency mining.
  
  “We have plenty of gas that was previously sold to Europe, but now lies unused underground. Please, set up power installations and start mining,” the minister was quoted as saying by the TASS news agency.
  
  However, First Deputy Energy Minister Pavel Sorokin said at the St. Petersburg forum that Russia’s natural gas extraction is becoming more expensive and it wouldn’t be economically feasible to power data centers with gas. Rather, Russia should use coal for power to feed data centers, Sorokin added.
  
  “We assume gas is cheap, but this isn't true. If we continue thinking this way, there will be no gas left anywhere. The Soviet legacy reserves are depleting, the same applies to oil, while new sources like Sakhalin and Kirinskoye involve very expensive gas,” Russian news agency Interfax quoted Sorokin as saying.
  
  “We can build power plants at open-pit mines - yes, it's expensive now, but options exist - we immediately save $50-$60 in transport costs per tonne, save on electricity transmission, and free up gas supplies to develop fertilizers in the Far East, gas-intensive industries, or meet existing supply commitments,” he added.
  
  Source: Oilprice.com

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