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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 617.00
+168.00
1 480.00
+10.00
Sep 14
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 617.00	+168.00	1 480.00	+10.00	Sep 14

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
718.82	+5.35	872.73	+5.03	1 560.70	+5.80	Sep 15

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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	640	728	-88	732	826	-94	1 480	1 630	-150	Sep 15
Singapore	759	769	-10	898	947	-49	1 424	1 623	-199	Sep 15
Fujairah	750	717	+33	985	887	+98	1 682	1 686	-4	Sep 15
Houston	565	728	-163	805	872	-67	1 488	1 571	-83	Sep 15

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Latest News
- 2026-09-15
  Oil prices rise as Saudi pipeline outage, fresh attacks raise supply concerns
  Oil prices rose on Tuesday as concerns over supply disruptions persisted after attacks on Saudi Arabian energy infrastructure left the kingdom’s East-West pipeline offline and cast doubt on efforts to ease shipping risks in the Gulf. Brent crude futures... Read more Oil prices rose on Tuesday as concerns over supply disruptions persisted after attacks on Saudi Arabian energy infrastructure left the kingdom’s East-West pipeline offline and cast doubt on efforts to ease shipping risks in the Gulf.
  
  Brent crude futures rose $1.24, or 1.18%, to $106.93 a barrel at 0026 GMT, after climbing 1% previously, while U.S. West Texas Intermediate futures were up $1.29, or 1.24%, at $102.65 a barrel, after gaining 1.3% in the previous session.
  
  Iran-backed Houthi forces in Yemen launched fresh attacks on Saudi Arabia on Monday, while Gulf Arab states postponed planned discussions with Iran, fuelling concerns that the Middle East conflict could widen and disrupt global oil supplies.
  
  The Houthis carried out a missile and drone attack on the Khamis Mushait military airbase in southern Saudi Arabia, hitting aircraft hangars, radar systems, runways and ammunition depots in retaliation for Saudi strikes in Yemen.
  
  This followed attacks on Friday on Saudi Arabia, which Riyadh blamed on Iranian-backed fighters in Iraq, that disrupted the country’s East-West pipeline, which allows oil exports to bypass the blockaded Strait of Hormuz.
  
  "Oil traders are treating every fresh attack or infrastructure hit as incremental supply risk, while staying highly sensitive to any sign that the East-West pipeline or Hormuz flows could normalise," said Tim Waterer, chief market analyst at KCM Trade.
  
  Commodity vessel traffic through the Strait of Hormuz dropped to fewer than 10 transits a day over the weekend, from a 10-day average of 14, raising concerns over a route that typically carried about one-fifth of global oil supplies before the U.S.-Israeli war on Iran began on February 28.
  
  Saudi Arabia could begin to exhaust oil available for export within days unless it restores operations on the East-West pipeline, potentially removing as much as 4% of global oil supply from the market, according to Saudi buyers and traders.
  
  The world’s biggest exporter has used the pipeline to reroute around 4 million barrels per day — around 4% of global supply — to the port of Yanbu on the Red Sea.
  
  "The big question for traders right now is the duration of the East-West outage. Any prolonged disruption and the associated supply loss could easily push prices to the next level higher," Waterer added.
  
  Separately, President Volodymyr Zelenskiy said on Monday that Kyiv was ready to support a U.S. proposal for a Russia-Ukraine ceasefire on energy sites only if Washington could ensure Moscow was genuinely ready to end its war on Ukraine. Source: Reuters/Investing.com
- 2026-09-15
  $100 Oil Puts Central Banks Back on Inflation Alert
  Crude oil prices have extended their earlier gains into this week, with little chance of reversing course as the war in the Middle East expands and desire for a peaceful resolution seems to wane, as global oil stocks continue shrinking. Inflation is creeping... Read more Crude oil prices have extended their earlier gains into this week, with little chance of reversing course as the war in the Middle East expands and desire for a peaceful resolution seems to wane, as global oil stocks continue shrinking. Inflation is creeping up. Recession fears are back. It may just be a matter of time.
  
  Diesel prices in the United States have gained some 60% since late February, the Wall Street Journal reported at the end of last week. It was the same week when diesel prices hit an all-time high of $6 per gallon, sparking those recession fears. The publication added, however, that there is little evidence of that fuel inflation spilling into the broader market, citing the 2.4% core inflation reading for August by the Labor Department.
  
  The thing about energy cost inflation and broader price trends is that the spillage takes place gradually. Businesses know better than to dump their extra energy costs on customers all at once. However, over time they would be forced to do it in order to survive. It is difficult, if not outright impossible to absorb a 60% price rise in diesel fuel without spreading the misery around a bit. Central banks are watching closely.
  
  The chances of the Federal Reserve hiking interest rates this week have risen considerably, according to The National, which reported some 90% of traders in a CME Group survey expect a 25 basis points hike. “People are finally waking up to the risk that the Iran war will be prolonged, and so relief is no longer in sight for energy prices,” MPA Macro economist Derek Tang said, as quoted by The National.
  
  The European Central Bank is also getting nervous, with the European Union a lot more vulnerable to all the adverse impacts of the Middle Eastern war than the United States due to its dependence on energy imports. The bank of the eurozone announced a rate hike of 25 basis points last week, stating that “The conflict in the Middle East continues to generate inflation pressures, and inflation is set to remain well above target for an extended period.”
  
  The president of the ECB specifically mentioned crack spreads and the price of fuels, describing that segment of the economy as previously irrelevant but newly come to the spotlight. “If I had talked to you about refining margins six months ago, we wouldn’t have known what we are really talking about,” Christine Lagarde said last week, as quoted by Bloomberg. “Now, whether you call it the crack spread or the refining margin, on liquid fuel, now we all know what it’s about.”
  
  According to economists cited by the Wall Street Journal, there is still no reason to worry, with the publication noting how many companies hedge against higher oil prices by securing oil supply at a fixed price agreed in advance. This, however, is only a temporary consolation: supply continues to shrink and hedging deals are not termless, so the next round of hedging will involve significantly higher prices—and these would need to be passed on to customers.
  
  “Energy inflation does not stay at the gas station,” economist Sung Won Sohn, president of SS Economics, wrote in a Substack post last week. “It travels by truck, airplane and cargo ship into nearly every store in America.” The economist added that “Businesses may initially absorb some of these increases, but if energy remains expensive, more of the cost will eventually be passed on to consumers.”
  
  The chances of avoiding this scenario are shrinking faster than oil stocks. It bears repeating—the war between the United States and Israel against Iran has entered its seventh month and events are escalating rather than de-escalating. Neither side appears to be willing to compromise for peace. Instead, the conflict is broadening, with the Yemeni Houthis taking Saudi Arabia’s East-West pipeline out with a drone attack at the end of last week. This is threatening up to 4% of global oil supply, according to a fresh Reuters report.
  
  That loss comes on top of earlier supply losses from the Middle East and Russia, especially in terms of fuels, and in fuels, especially in terms of diesel fuel. This further raises the risk of stronger inflation for longer, as we enter winter in the Northern Hemisphere—peak demand season for oil and diesel fuel.
  
  There are no viable workarounds any longer. Whatever of these there were are being utilized, such as pipelines to destinations other than the Persian Gulf and stock draws. Yet those pipelines have limited capacity; one of the largest in the region has become the target of a successful attack, and stocks are down, in some places to dangerously low levels. It seems the world is running out of options for dealing with the energy crisis it is facing. Source: Oilprice.com
- 2026-09-15
  MABUX: Global bunker indices to extend gains on Sep. 15 over the Strait of Hormuz.
  The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO – maintained a sustained upward trajectory on Sep. 14, driven by a new phase of escalation in the Persian Gulf. 380 HSFO: USD/MT: 713.47 (+20.32) VLSFO:... Read more The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO – maintained a sustained upward trajectory on Sep. 14, driven by a new phase of escalation in the Persian Gulf.
  
  380 HSFO: USD/MT: 713.47 (+20.32)
  VLSFO: USD/MT: 867.70 (+17.96)
  MGO: USD/MT: 1 554.90 (+51.33)
  
  As of Sep. 14, the MABUX Market Differential Index (MDI), which measures the spread between Market Bunker Prices (MBP) and the MABUX Digital Bunker Benchmark (DBP), registered the following trends across the four major global bunkering hubs—Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Fujairah shifted into the overpricing zone, becoming the only overvalued port in this bunker segment, with its MDI premium widening by $61. The other three hubs remained underpriced, although MDI discounts narrowed by $34 in Rotterdam, $58 in Singapore and $24 in Houston. Rotterdam's underpricing moved below the $100 mark, while Houston's stayed above this threshold.
  
  • VLSFO segment: Fujairah remained the only overpriced port, with its MDI premium surging by $75 and moving above the $100 mark. The other three hubs stayed underpriced, with MDI discounts narrowing by $30 in Rotterdam, $36 in Singapore and $29 in Houston. Rotterdam's underpricing declined below the $100 threshold.
  
  • MGO LS segment: All four ports remained in the underpricing zone. MDI discounts narrowed by $25 in Rotterdam, $51 in Singapore, $135 in Fujairah and $60 in Houston. Underpricing levels in Fujairah and Houston moved below the $100 mark.
  
  MABUX expects global bunker indices to extend their upward momentum on Sep. 15, supported by persistent uncertainty surrounding the situation in the Strait of Hormuz:
  380 HSFO: plus 3-8 USD/MT, VLSFO: plus 3-10 USD/MT, MGO LS: plus 3–10 USD/MT.
  Source: MABUX
- 2026-09-15
  The Next Oil Shock Is Never the Last
  The Houthis have seized the Yemeni Red Sea coast, the port of Mokha and Perim Island, which divides the narrow Bab el-Mandeb Strait into two channels. The group now occupies positions from which it can monitor or threaten one of the world’s most important... Read more The Houthis have seized the Yemeni Red Sea coast, the port of Mokha and Perim Island, which divides the narrow Bab el-Mandeb Strait into two channels. The group now occupies positions from which it can monitor or threaten one of the world’s most important shipping routes.
  
  Normally, that would be alarming enough. But the Strait of Hormuz on the other side of the Arabian Peninsula is already severely disrupted. Saudi Arabia consequently relied more heavily on its East–West pipeline to move crude from the Gulf to Red Sea export terminals. Then that pipeline was attacked too.
  
  The temporary shutdown of the Saudi conduit illustrates fossil-fuel insecurity perfectly. Hormuz becomes dangerous, so oil is sent across the desert. Bab el-Mandeb becomes dangerous, so tankers consider the Cape of Good Hope. The bypass then becomes a target itself.
  
  Each alternative reduces one risk while adding distance, cost and another piece of infrastructure that must be defended. The problem is no longer one strait, militia or war. It is an energy system that requires enormous quantities of combustible material to cross unstable borders and narrow waterways every day.
  
  The Emergency Keeps Changing Name
  
  Energy markets discuss each disruption as an exceptional event. Russia’s invasion of Ukraine and weaponization of pipeline gas were exceptional. The closure of Hormuz was exceptional. Houthi attacks in the Red Sea were exceptional. Damage to pipelines, LNG plants and tankers was exceptional. American pressure on Europe to purchase more US LNG was presented as trade policy rather than energy vulnerability.
  
  After enough exceptions, a pattern should become visible. Europe spent decades increasing its reliance on inexpensive Russian pipeline gas. When Moscow reduced supplies in 2022, prices exploded and governments rushed to fill storage and construct LNG terminals. Russian dependency was then replaced partly by greater reliance on the United States.
  
  That switch improved diversification and was essential during the crisis. It did not create autonomy.
  
  The United States subsequently folded energy purchases into wider trade negotiations. Under the 2025 framework, the EU pledged to facilitate $750 billion of US energy purchases over three years, an implausibly large number that Brussels could not directly control.
  
  This is not equivalent to Russia cutting a pipeline, and the United States remains a fundamentally different partner. But it demonstrates the same structural truth: whoever controls a fuel Europe needs every day acquires leverage over European decisions.
  
  Dependency does not stop being dependency because the supplier is friendly today.
  
  Fifty Years of Warnings Were Apparently Not Enough
  
  The current crisis is not a failure to predict the future. The warning has been repeated for half a century. The 1973 Arab oil embargo more than tripled prices and exposed Western dependence on Middle Eastern crude. The Iranian Revolution produced another shock in 1979. The Iran–Iraq War and Iraq’s 1990 invasion of Kuwait again removed production from the market. Libya and Venezuela later demonstrated how political breakdown and sanctions can interrupt supply.
  
  More recently, attacks on Saudi Arabia’s Abqaiq facilities in 2019 temporarily removed around 5% of global oil supply. The Nord Stream explosions showed that even subsea pipelines are vulnerable, while cheap drones have proved capable of rerouting global trade.
  
  The scale has changed, but the mechanism has not. In 2024, roughly 20 million barrels of oil per day passed through Hormuz—about one-fifth of global petroleum consumption. Bab el-Mandeb carried around 8.7 million barrels per day in 2023. Rerouting adds weeks of sailing, consumes more fuel and raises insurance and freight costs.
  
  Consumers experience this system as a price at the pump or on a heating bill. Strategically, it is a permanent transfer of power to producers, transit states, armed groups and whoever can threaten the route between them.
  
  Strategic Reserves Buy Time, Not Independence
  
  Europe and Asia are not defenseless. Governments maintain strategic reserves, LNG cargoes can be redirected and producers outside the Gulf can increase supply. Pipelines and alternative ports provide valuable redundancy.
  
  These measures are why every disruption does not become an immediate physical shortage.
  
  But buffers do not change the model. Reserves are depleted when used, redirected tankers must arrive from somewhere else and spare capacity belongs to another producer. If a crisis persists, competition for finite fuel returns at a higher price.
  
  This year’s conflict has created what the IEA describes as the largest oil-supply disruption in market history, exceeding even 1973.
  
  The rational response is not to abolish reserves or alternative routes. It is to reduce the number of essential services that depend on them.
  
  Electrification Removes the Daily Delivery
  
  An electric vehicle does not care whether Bab el-Mandeb is open. A heat pump does not require an LNG tanker next Tuesday. Wind turbines and solar panels continue generating after the ships that delivered them have departed.
  
  Renewables require grids, storage, backup capacity and significant quantities of minerals. They do not eliminate geopolitics.
  
  They change its timing and severity. Oil and gas are consumable flows. Stop delivery and fossil assets eventually stop operating. Minerals are embedded in equipment. A shortage can delay new batteries, grids or turbines, but does not switch off those already installed. Many materials can also be recovered and recycled.
  
  That distinction is fundamental. As the IEA notes, an oil shock affects every driver using fuel, while a mineral shortage mainly affects the supply of new equipment.
  
  Europe should therefore double down on renewable generation, electrified transport, heat pumps, batteries, grids and demand flexibility. The Commission estimated that faster clean-energy deployment could cut the EU’s fossil-fuel import bill by €130 billion annually by 2030.
  
  That is not simply climate spending. It is the purchase of strategic freedom.
  
  Europe Must Not Exchange One Monopoly for Another
  
  The obvious objection is that Europe risks moving from imported oil and gas to imported Chinese solar panels, batteries, magnets and processed minerals.
  
  That risk is real. China is expected to supply more than 60% of refined lithium and cobalt in 2035 and around 80% of battery-grade graphite and rare earth elements. Europe cannot call an energy system autonomous if it has no meaningful ability to manufacture or repair it.
  
  But the answer is not continued fossil dependency. It is to build the material side of the transition with the same urgency as generation.
  
  The EU’s Critical Raw Materials Act targets 10% domestic extraction, 40% processing and 25% recycling by 2030. Europe should accelerate responsible mining and deepen partnerships with Ukraine, the Western Balkans, Canada and Australia. More importantly, it must invest in refining, cathodes, magnets, battery cells and recycling.
  
  This supply chain will have impacts and geopolitical risks. It must be diversified, regulated and circular. Yet its materials build assets that produce or store energy for years. They are not burned once and replaced with the next shipment.
  
  The Last Fossil Crisis Will Not Announce Itself
  
  The Houthi advance is serious. Governments must protect navigation, stabilize markets and prevent a humanitarian disaster in Yemen.
  
  But treating the episode only as another shipping emergency would repeat the central mistake of every previous oil shock.
  
  There will always be another unstable producer, coercive supplier, damaged pipeline, sanctioned exporter or contested chokepoint. The geography changes. The dependency remains.
  
  Europe and Asia cannot control every strait, regime or war. They can control how much of their prosperity depends on fuel passing through them.
  
  The next oil shock is already here. The real objective should be making sure fewer consumers notice the one after it. Source: Oilprice.com
- 2026-09-15
  The Problem With Trying to Bypass Hormuz Using Pipelines
  The East-West Pipeline in Saudi Arabia, which delivers oil to the shores of the Red Sea, has been an important workaround to the choking of tanker traffic by Iran in the Strait of Hormuz, the only exit for tankers from the Persian Gulf to the open sea.... Read more The East-West Pipeline in Saudi Arabia, which delivers oil to the shores of the Red Sea, has been an important workaround to the choking of tanker traffic by Iran in the Strait of Hormuz, the only exit for tankers from the Persian Gulf to the open sea. The Saudi government claims that 7 million barrels per day (mbpd) of crude oil can flow westward through the pipeline to the port of Yanbu, though the current exports are thought to be lower (perhaps 5 mbpd) than that given infrastructure restraints.
  
  But now that pipeline has been bombed and put out of service. The Saudis are saying that the pipeline has been closed "as a precautionary measure." But that statement seems to underplay what has happened. Satellite images show that the attacks damaged at least two pumping stations. Repairing or replacing these stations may be more involved than simply replacing a section of damaged pipeline since the pipeline sits mostly above ground. And, of course, once repaired, the pipeline could simply be attacked again. The 1200-kilometer length of the pipeline is not easily defended.
  
  The oil-starved importers of the world have been gushing about how much oil has been getting out of the Persian Gulf right under the noses of a threatening Iranian Revolutionary Guard Corps (IRGC) who are standing watch with missiles and drones on the shores of the Strait of Hormuz. But even these surreptitious transits have carried volumes far below those transported before the war began, only 7 mbpd versus 20 mbpd. The East-West Pipeline became a crucial source of oil to the world after the Iranians closed the Strait of Hormuz.
  
  Now a missile and drone attack has put to rest the idea that pipelines are, in fact, a genuine solution to the current and any future closure of the Strait of Hormuz. Given how obvious it is that pipelines are easy to attack with drones and missiles, it has been puzzling to read all the talk about building new pipelines in and around the Persian Gulf region to lessen dependence on the Strait of Hormuz. Only a simpleton would believe that these pipelines would somehow escape attack during a conflict in the region.
  
  The pipeline "solution" demonstrates perfectly 1) how one-dimensional much of the media coverage of the U.S.-Israeli war with Iran has been and 2) how one-dimensional the strategic thinking on the part of the United States has been.
  
  All any observer needs to do is look up in the sky and discover that there are second and third dimensions, making it possible for aerial weapons to come from far away to destroy any pipeline. It is difficult not to ridicule those who failed to make this simple observation before committing their typing fingers or their mouths to such a nonsense solution to the Strait of Hormuz closure as pipelines. Source: Oilprice.com
- 2026-09-15
  Dangote Prices Africa's Biggest IPO at $47 Billion
  Aliko Dangote launched Africa's largest share sale on Monday, offering 4.1 billion shares of his Nigerian oil refinery at 525 naira each. The offer runs through Oct. 13 and would raise $1.6 billion if fully subscribed, or as much as $2.1 billion if the... Read more Aliko Dangote launched Africa's largest share sale on Monday, offering 4.1 billion shares of his Nigerian oil refinery at 525 naira each. The offer runs through Oct. 13 and would raise $1.6 billion if fully subscribed, or as much as $2.1 billion if the company exercises its greenshoe option. The sale values the refinery, which processes 700,000 barrels of crude a day, at roughly $47 billion.
  
  The refinery has benefited financially from supply disruptions linked to the Iran war, which increased demand for its jet fuel across Africa and Europe. It reported an after-tax profit of $1.82 billion for the first half of 2026, compared with a $476 million loss for all of 2025.
  
  Dangote will use the proceeds toward a $14.3-billion expansion that would double the refinery's capacity to 1.4 million barrels a day by 2029. The ~$20-billion plant outside of Lagos has supplied most of Nigeria's domestic gasoline since starting operations in 2024.
  
  Dangote has marketed the offer to ordinary Nigerians, who can buy as few as 10 shares through fintech platforms. Lagos business owner Chris Chijioke told Reuters he would buy 2,000 shares but called the offer "overvalued," citing the risk that the expansion could be delayed. Journalist Ibrahim Abubakar said he would take about 2,850 shares because he considers the refinery "too big to fail."
  
  UAE state oil company ADNOC has expressed interest in investing in the refinery, though terms haven't been disclosed. Dangote is separately in talks to build a $17 billion refinery on Kenya's Lamu Island, offering equity stakes to Kenya and other East African governments; Kenya's 10 percent share alone would be worth $500 million.
  
  Dangote has said he expects demand for the IPO to mirror a July private placement that was 3.7 times oversubscribed. Source: Oilprice.com
- 2026-09-15
  Chevron Targets Four Continents in New LNG Expansion Drive
  Chevron is looking at expanding its natural gas business and opportunities in Argentina, the Mediterranean, Africa, and Australia, as it aims to offer diversified LNG supply to its customers, Freeman Shaheen, President of Global Gas at Chevron, told Reuters... Read more Chevron is looking at expanding its natural gas business and opportunities in Argentina, the Mediterranean, Africa, and Australia, as it aims to offer diversified LNG supply to its customers, Freeman Shaheen, President of Global Gas at Chevron, told Reuters on Monday.
  
  The energy crisis in the wake of the Middle East conflict that trapped LNG supply from Qatar and the United Arab Emirates (UAE) has prompted buyers to seek diversification and diverse contracting structures.
  
  “What we're seeing from this crisis is that it just reinforces the need for diversity — diversity of supply and diversity of different contracting structures,” Shaheen told Reuters.
  
  Chevron looks to expand its portfolio from prospects in Argentina, the East Mediterranean, Australia, and Africa, the executive said in an interview with the publication.
  
  Chevron is expanding its footprint in Argentina’s shale play Vaca Muerta, alongside other major U.S. producers. The U.S. supermajor is also building a portfolio of exploration blocks offshore Greece and Cyprus.
  
  In Australia, Chevron operates two massive LNG projects: Gorgon, which its 15.6 million tons in capacity is the larger one—and the largest in Australia as a whole. The other, Wheatstone, can produce 8.9 million tons of liquefied natural gas annually. The two together account for about 5% of global LNG supply.
  
  In Africa, the U.S. supermajor is also boosting exploration efforts and discovery success rates.
  
  Last month, Chevron announced a new oil and gas condensate discovery offshore Angola, hitting more than 2,000 feet of hydrocarbons in a Block 0 exploration well that could be tied directly into the company’s existing production infrastructure in the country.
  
  Speaking to Reuters on the sidelines of a gas conference in Thailand, Chevron’s Shaheen did not specify which opportunities the corporation would pursue.
  
  But the major plans to raise its LNG portfolio in the coming years, with supply as diverse as from Argentina to the Mediterranean and Africa, to meet customer needs of diversified LNG supply that doesn’t not depend on one chokepoint for shipment.
  
  Source: Oilprice.com
- 2026-09-15
  Uniper to Sell Gas Pipeline Stake to Meet EU State Aid Conditions
  Uniper announced on Monday an agreement to sell its 20% stake in the OPAL gas pipeline as part of the EU’s conditions on state aid that allowed Germany to bail out the German energy giant in 2022. Back then, the German government stepped in to nationalize... Read more Uniper announced on Monday an agreement to sell its 20% stake in the OPAL gas pipeline as part of the EU’s conditions on state aid that allowed Germany to bail out the German energy giant in 2022.
  
  Back then, the German government stepped in to nationalize Uniper to avoid its collapse amid soaring gas prices, with the total bill for the nationalization at about $53 billion.
  
  Uniper said today it had signed an agreement to sell its 20% stake in OPAL to hydrogen sector investor Hy24, which will be buying the stake via its Clean Hydrogen Infrastructure Fund.
  
  The transaction comprises Uniper selling 100% of Lubmin-Brandov Assets GmbH & Co. KG, which holds a 20% co-ownership interest in OPAL. The remaining 80% co-ownership interest is held by GASCADE Gastransport GmbH.
  
  “The divestment is part of the remedies Uniper must fulfill under the EU state aid law,” the German energy giant said.
  
  The completion of the transaction remains subject to the required regulatory approvals and the non-execution of a pre-emption right by the fractional co-owner.
  
  OPAL is one of Europe’s largest transmission corridors, spanning approximately 470 km (292 miles) from Lubmin in Germany to Brandov in the Czech Republic. As part of Germany's hydrogen core network, the northern section of OPAL was converted in mid-December 2025, while the southern section is expected to follow by the end of 2030.
  
  Meanwhile, Germany remains committed to cut its 99% stake in Uniper to below 25% by 2028, per the EU state aid conditions.
  
  Germany is considering a sale or an initial public offering for the 99% it holds in Uniper, the government said in May.
  
  Norway’s energy major Equinor, Brookfield Asset Management, EPH of Czech billionaire Daniel Kretinsky, and Abu Dhabi’s Taqa have reportedly expressed interest in recent months in acquiring the German utility giant. Source: Oilprice.com
- 2026-09-15
  Syria Diesel Prices Jump 40% Triggering Widespread Unrest
  Syria raised diesel prices 40% and gasoline prices by as much as 28% on Saturday, and protesters blocked the highway linking Damascus to Aleppo and burned tires along the road to Turkey within 24 hours, the widest unrest since Bashar al-Assad's fall in... Read more Syria raised diesel prices 40% and gasoline prices by as much as 28% on Saturday, and protesters blocked the highway linking Damascus to Aleppo and burned tires along the road to Turkey within 24 hours, the widest unrest since Bashar al-Assad's fall in December 2024.
  
  Diesel now costs 175 Syrian pounds a liter and household and industrial gas prices climbed roughly 9%.
  
  Protests also broke out in Hama, Khan Sheikhoun and Maarat al-Numan, and crude tanker convoys bound for refineries were halted en route. Syria's Energy Ministry called the increase a “temporary measure driven by higher global procurement costs,” spokesperson Abdulhamid Salat said.
  
  Syria produces about 102,000 barrels of oil a day against domestic demand of roughly 325,000 barrels, the country's energy minister said, a shortfall Damascus has covered by importing roughly 60,000 barrels a day of Russian crude this year. Ukrainian attacks on Russian refineries have cut that output and pushed Moscow to restrict diesel and gasoline exports, tightening the supply reaching Syria just as domestic refining capacity fell.
  
  The Baniyas refinery, Syria's largest, closed this month for a three-month overhaul, its first comprehensive maintenance since Assad's fall, under a project the Syrian Petroleum Company says will raise capacity from 80,000 to 130,000 barrels a day. The UN Development Programme estimates 90% of Syrians now live below the poverty line, up from about a third before the 2011 civil war.
  
  The U.S. has backed a $5.7-billion, 1,000-mile pipeline from Basra to Baniyas, led by Chevron with TotalEnergies and Syrian and Qatari investors, that would carry 2 million barrels a day and is intended to render the Strait of Hormuz an afterthought, envoy Tom Barrack has said. Iraqi refineries already truck roughly 5,000 tankers of crude to Baniyas daily under an interim arrangement that began in April. Damascus has also retaken oil and gas fields in Deir ez-Zor and Hasakah from Kurdish-led forces this year, domestic barrels that could ease Russia's remaining foothold in Syrian energy even as the Baniyas overhaul squeezes near-term supply. Source: Oilprice.com
- 2026-09-15
  Brent at $108: Gulf States Halt Hormuz Talks as Houthis Strike Saudi Airbase
  Gulf states called off Monday's planned meeting with Iran on reopening the Strait of Hormuz the same day Yemen's Houthis fired dozens of missiles and drones at Saudi Arabia's King Khalid airbase in Khamis Mushait, calling it retaliation for more than... Read more Gulf states called off Monday's planned meeting with Iran on reopening the Strait of Hormuz the same day Yemen's Houthis fired dozens of missiles and drones at Saudi Arabia's King Khalid airbase in Khamis Mushait, calling it retaliation for more than 300 Saudi airstrikes on Yemen in five days.
  
  A Friday drone attack Riyadh blamed on Iran-backed fighters in Iraq knocked out Saudi Arabia's East-West pipeline, the kingdom's only route around the blockaded strait. The 7-million-barrel-a-day line feeds the Red Sea port of Yanbu, with traders telling Reuters its closure could cut off up to 4% of global oil supply if it stays down. Yanbu has five to seven days of oil left, unnamed sources told Reuters, and at least four Asian refiners have received no word on loading schedules at a port that normally moves 4 million barrels a day.
  
  Brent rose more than 3% when markets reopened Monday; WTI traded at $104. U.S. diesel hit a new record above $6.23 a gallon, part of a run-up that has already cost U.S. drivers more than $100 billion in extra fuel spending since the war began. ING kept its fourth-quarter Brent forecast at $80, citing volumes still moving through Hormuz itself.
  
  The Houthis captured Perim Island, which splits Bab al-Mandeb in two, on Friday, then deployed fighters on Greater and Lesser Hanish, 86 nautical miles north. The strait carries 12% of global trade, including 11% of maritime oil and 8 percent of LNG. Former State Department official David Schenker called simultaneous Iranian leverage over Hormuz and Bab al-Mandeb “the worst-case scenario … two of the leading energy choke points in the world.”
  
  Saudi Crown Prince Mohammed bin Salman met U.S. Central Command chief Admiral Brad Cooper in Jeddah on Monday after seeking American strikes on the Houthis, but Washington offered intelligence-sharing instead. U.S. President Trump said Sunday the U.S. could stay in Iran and “keep the oil,” comparing it to Venezuela and saying oil sales there had “paid for the war many times.” He repeated that gas prices would “drop like a rock” once the war ends, which he expects shortly after the midterms. Source: Oilprice.com

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