Mabux: Global Bunker Prices

LNG BUNKER PAGE
- LNG bunker indexes
- OIL/GAS futures settlements
- LNG bunker news
- LNG fuel energy content
SEE LNG BUNKER INDEXES
MARKET BUNKER PRICES (MBP)
- 400+ ports worldwide
- Bunker Price History available from 2002
- Supplier's contact details
- Price forecast short (1 day) and long (rolling forward 2 years)
- Differentials section: VLSFO/380 HSFO, VLSFO/MGO LS, MGO LS/VLSFO
See Market Bunker Prices
DIGITAL BUNKER PRICES (DBP:ICE/NYMEX)
- Price adjustments to the Bunker Market's volatility instantly
- Completely independent
- Free from price manipulations
- Unique tool to identify overcharge/undercharge prices
See Digital Bunker Prices for free

MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
845.00
+95.00
625.00
0.00
Mar 17
Click to see more LNG Bunker Indexes

Port	LNG$/mton	MGO LS$/mton	Date
ARA	845.00	+95.00	625.00	0.00	Mar 17

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
498.86	+2.40	579.76	+1.62	753.76	-0.25	Mar 17

Click to see Regional Bunker Indexes

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	441	437	+4	497	497	0	625	617	+8	Mar 17
Singapore	475	447	+28	514	536	-22	646	650	-4	Mar 17
Fujairah	460	487	-27	508	542	-34	736	803	-67	Mar 17
Houston	422	454	-32	520	571	-51	662	666	-4	Mar 17

Click to see more details

Digital Bunker Prices
Reasons, Mechanism, Benefits
Click to view presentation

Try free for 3 days

Analytical Section
- Daily and Weekly Bunker analyses and Future Curves
- World and regional Bunker indices
- Bunker Price Forecast for 40+ ports
- Digital Bunker Prices
MABUX for Industry
- API for integration with your application, custom solutions available upon demand
- Bunker market analyses upon request for required region or port
- Bunker Price seminars that allow to learn how to use MABUX tools for bunker business
- MABUX Open Bunker Directory features contact details of bunker suppliers, traders and brokers worldwide.
Latest News
- 2025-03-17
  Oil prices rise as US vows to keep attacking Houthis
  Oil prices traded higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping. Brent futures rose 41 cents or 0.6%, to stand at $70.99 a barrel by 0336 GMT, while U.S. West... Read more Oil prices traded higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping.
  Brent futures rose 41 cents or 0.6%, to stand at $70.99 a barrel by 0336 GMT, while U.S. West Texas Intermediate crude futures rose 40 cents, or 0.6%, to $67.58 a barrel.
  The U.S. airstrikes, which the Houthi-run health ministry said killed at least 53 people, are the biggest U.S. military operation in the Middle East since President Donald Trump took office in January.
  One U.S. official told Reuters the campaign might run for weeks.
  Houthi attacks on shipping in the Red Sea have disrupted global commerce and set off a costly campaign by the U.S. military to intercept missiles and drones.
  Oil prices rose slightly last week, snapping a three-week losing streak fed by concern over a global economic slowdown driven by escalating trade tension between the U.S. and other nations.
  Both benchmarks pared some gains after rising more than 1% in early Asian trade as China reported a mixed start to the year. Industrial output slowed in January-February, while retail sales growth accelerated slightly, government data showed on Monday.
  The state council, or cabinet, unveiled what it called a "special action plan" on Sunday in a bid to boost domestic consumption and economic recovery amid a burst of U.S. trade tariffs against China, among key trading partners.
  That effort has threatened to upset the global trade order.
  Analysts at Goldman Sachs cut oil price forecasts, saying they expected the U.S. economy to grow slower than expected, due to the tariffs imposed on countries such as Canada, China and Mexico.
  
  "We reduce by $5 our December 2025 forecast for Brent to $71/bbl (WTI to $67), our Brent range to $65 to $80, and our 2026 average forecast to $68 for Brent (WTI to $64)," the analysts said in a note.
  Oil demand was expected to grow at a slower pace than previously expected, while supply from the Organization of Petroleum Exporting Countries and its allies (OPEC+) was expected to exceed forecasts, the Goldman analysts said.
  U.S. consumer sentiment plunged to a nearly 2-1/2-year low in March and inflation expectations have soared amid worries that Trump’s sweeping tariffs would boost prices and undercut the economy.
  U.S. Federal Reserve officials meeting next week are expected to leave the benchmark overnight interest rate in the range of 4.25% to 4.50%, having reduced it by 100 basis points since September, as they weigh the economic impact of the administration’s policies. Source: Reuters/Investing.com
- 2025-03-17
  Oil’s Oversupply Spiral: Can Prices Stay Above $60?
  The International Energy Agency just threw a bucket of ice water on oil bulls, reporting that crude supply is outpacing demand by 600,000 bpd and slashing its demand outlook for the year. And the IEA isn’t alone. The world’s biggest oil traders are also... Read more The International Energy Agency just threw a bucket of ice water on oil bulls, reporting that crude supply is outpacing demand by 600,000 bpd and slashing its demand outlook for the year. And the IEA isn’t alone. The world’s biggest oil traders are also sounding the alarm, turning bearish as overproduction ramps up both inside and outside OPEC.
  
  “The industry is over-drilling now, that is clear,” Gunvor’s chairman Torbjörn Törnqvist told Bloomberg in an interview on the sidelines of CERAWeek. “We are drilling more inside and outside OPEC than demand growth warrants.”
  
  Indeed, production is on the rise. The U.S. Energy Information Administration said in its latest Short-Term Energy Outlook that it expected U.S. output this year to gain 400,000 bpd to 13.6 million barrels daily, which would solidify the country’s status as top global producer—and a major reason for the weakness in oil prices.
  
  Yet OPEC+ is also producing more, or rather, some members of the group are producing way over their quota. In the latest update from the cartel, Kazakhstan was the main overproducer, with an average daily rate of 1.767 million barrels in February versus a quota of 1.468 million barrels daily. Nigeria also overproduced, although less dramatically, exceeding its ceiling by some 70,000 barrels daily.
  
  Related: Petronas in Talks to Exit Argentina’s Vaca Muerta Shale
  
  Meanwhile, on the demand side, it appears that many have concerns related to President Donald Trump’s approach to trade policy, namely tariffs. The concerns focus on tariffs hurting demand for crude as they make various goods more expensive. Some tariffs might also have a negative effect on oil and gas industry costs, specifically the steel and aluminum tariffs the Trump administration announced earlier this week. The effect, however, is likely to be modest.
  
  This will not be the case with refining in the United States, where as much as 400,000 bpd in processing capacity is scheduled to be shut down this year. Two refineries—one in Los Angeles and another in Houston are slated for a shutdown in 2025, which would leave more crude available on the market.
  
  According to the chief executive of Vitol, Russell Hardy, the current developments in supply and demand could push oil prices consistently lower, to between $60 and $80 per barrel. Hardy also said that West Texas Intermediate could dip below $60 per barrel at some point, though likely not for long. In fairness, it would not be the first time when overdrilling has led to price dips that have served as a natural correction for excessive production activity and there is no reason the current situation should be an exception to that rule.
  
  Meanwhile, one prominent oil analyst has said that the world has entered the era of peak oil trading. According to Jeff Currie, formerly with Goldman Sachs and currently with Carlyle, the international oil trade peaked in 2017 and has since been on the decline due to the rise in wind and solar electricity that is produced locally.
  
  “The share of global energy consumption that came from fossil fuels that crossed borders peaked in 2017, and has since declined by 5%,” Currie wrote in a note cited by Bloomberg this week. In it, the analyst noted that while oil is a reliable source of energy, its cross-border trade is increasingly vulnerable to developments such as Trump’s tariff push, for example. According to Currie, this vulnerability will serve as motivation for boosting reliance on wind and solar.
  
  JP Morgan’s latest energy report counters this view, with its author, Michael Cembalest, noting that “after $9 trillion globally over the last decade spent on wind, solar, electric vehicles, energy storage, electrified heat and power grids, the renewable transition is still a linear one; the renewable share of final energy consumption is slowly advancing at 0.3%-0.6% per year.”
  
  This suggests that while the market balance for oil looks like it is leaning into oversupply, it may not necessarily be an accurate picture. Demand has surprised on the positive side repeatedly, countering estimates, with the most notable recent example from last year, when the EIA had estimated a slump in fuel demand in late spring, but the actual numbers showed a surge to a record high.
  
  Another recent example that teaches to take all forecasts and estimates with a pinch of salt came from none other than the IEA’s head himself, who called for more oil and gas investment at CERAWeek, saying, “There is a need for oil and gas upstream investments, full stop,” four years after he said in the IEA’s Road Map to Net Zero that the world needed no more investments in new oil and gas supply because the transition was going to succeed.
  
  It seems, then, that at this point in time, oil prices seem set for an extended period of depression as supply appears to exceed demand consistently and producers have yet to feel enough pain to curb their activity. However, a lot of that comes from forecasts and estimates that may turn out to be inaccurate. This, in turn, would lead to a price correction whose size would depend on just how accurate or inaccurate the forecasts and estimates were.
  
  Source: Oilprice.com
- 2025-03-17
  Trump Energy Policies Reshape Renewables Sector
  The Renewables MMI (Monthly Metals Index) moved sideways month over month, increasing a slight 1.86%. Meanwhile, renewable energy projects could face some challenges from a combination of tariffs and changing Federal policies. Renewables MMI, March... Read more The Renewables MMI (Monthly Metals Index) moved sideways month over month, increasing a slight 1.86%. Meanwhile, renewable energy projects could face some challenges from a combination of tariffs and changing Federal policies.
  
  Renewables MMI, March 2025
  
  Trump Administration’s Energy Policies Reshape the Renewable Sector
  
  Since taking power in January, the Trump administration has reshaped the U.S. renewable energy landscape by introducing some significant policy changes. So far, the White House has declared a national energy emergency, imposed tariffs on critical metals and rolled back environmental regulations.
  
  Trump Declares National Energy Emergency
  
  On January 20, 2025, President Trump signed an executive order declaring a national energy emergency. The move aims to accelerate fossil fuel development and eliminate regulatory barriers that slow energy infrastructure projects.
  
  Supporters claim this move strengthens U.S. energy exports and creates jobs in the oil, gas and coal industries. However, critics argue that the decision prioritizes fossil fuels over renewables and undermines environmental protections.
  
  New Tariffs Drive Up Renewable Energy Costs
  
  The administration also implemented a 25% tariff on imported steel and aluminum to protect domestic producers. While the policy aims to boost U.S. manufacturing, it has raised some costs for industries that rely on these metals, including the renewable energy sector. For instance, wind turbine and solar panel manufacturers now face higher material expenses, which could slow renewable energy expansion.
  
  The Trump administration also revoked pollution control rules that limited soot emissions from coal-fired power plants. By reversing these restrictions, the White House ensured older, high-emission plants can remain operational without costly upgrades. Industry advocates claim the decision supports the coal sector, but environmental groups warn that increased emissions could harm public health.
  
  High-Stakes Negotiations Over Ukraine’s Mineral Reserves
  
  In February 2025, U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskyy engaged in critical discussions at the Oval Office in Washington, D.C. The meeting primarily focused on a potential deal that would allow the U.S. to tap into Ukraine’s vast critical mineral wealth. In exchange, Ukraine sought continued U.S. military aid amid its ongoing conflict with Russia.
  
  Ukraine holds significant reserves of rare earth elements and lithium, with estimates valuing these untapped resources at approximately $500 billion.
  
  Tensions Rise in Oval Office Talks
  The negotiations took a bad turn during the televised meeting between the two leaders. As discussions progressed, Trump pressed for broader U.S. access to Ukraine’s mineral deposits.
  
  Zelenskyy pushed back, stressing the need for fair terms and expressing concerns over the implications for Ukraine’s sovereignty. The talks ultimately collapsed without a formal agreement, prompting the temporary suspension of U.S. military aid to Ukraine.
  
  Grain-Oriented Electrical Steel MMI
  Grain-Oriented Electrical Steel (GOES MMI) dropped slightly month-over-month. In total, prices fell by 3.84%. Source: Oilprice.com
- 2025-03-17
  India Strives for 500 GW Non-Fossil Power by 2030
  India has been courting foreign and domestic investment in its clean energy industry in an effort to shore up energy security and meet the nation’s lofty decarbonization goals. But a new report reveals that while India has offered up record-breaking clean... Read more India has been courting foreign and domestic investment in its clean energy industry in an effort to shore up energy security and meet the nation’s lofty decarbonization goals. But a new report reveals that while India has offered up record-breaking clean energy tenders, they have been met with weak demand, revealing a number of major obstacles for the sector.
  
  The Indian government is targeting a minimum of 500 GW of non-fossil power capacity by 2030. This represents a huge uptick from their current levels, which clock in at approximately 165 GW. India issued a historic 73 gigawatts of utility-scale renewable energy tenders last year as part of a push to meet this goal, but about 8.5 GW of those tenders remain undersubscribed. That’s five-fold more than the rate of undersubscription seen in 2023.
  
  In simple terms, this means that the Indian government offered up a massive 73 gigawatts worth of contracts for clean energy companies to compete over, which would seem like a great headline for the country’s clean energy industry. However, not all of the contracts were ultimately awarded due to insufficient interest on the part of would-be competitors.
  
  To explain this flagging subscription rate, a Reuters write-up points to “lower demand due to complex tender structures and delays in interstate transmission readiness,” based on findings from a report recently published by the U.S.-based Institute for Energy Economics and Financial Analysis (IEEFA).
  
  "Delays in project implementation pose a significant challenge to India’s renewable energy target for 2030," said IEEFA report co-author Ashita Srivastava. "(The) issues ... could deter investor interest in future renewable energy projects in India, potentially affecting the availability of low-cost financing from large-scale investors," Srivastava said.
  
  And that’s bad news for everyone. As stated by the International Energy Agency, “India’s energy choices matter. They have direct and far-reaching effects on the lives of a growing population, and major indirect effects on the rest of the world through their impact on energy markets, emissions, and flows of technology and capital.”
  
  India – the world’s most populous country – has seen rapid economic growth over the last few years, and recently overtook the United Kingdom as the fifth biggest economy in the world. What is more, by 2030, India is expected to surpass both Germany and Japan to become the third largest economy in the world.
  
  But in 2024 India’s economic growth unexpectedly stalled out, thereby “revealing major cracks in the foundation.” After a whopping 8.2 percent growth rate over the last fiscal year, the country’s rate of economic growth plummeted to 5.4 percent in the summer of 2024. And now, projections for this fiscal year place the growth rate at a comparatively modest 6.4 percent.
  
  But this year is not the first year that India fell far short of its clean energy targets – even while the economy was going gangbusters, clean energy capacity additions fell far short of government goals. India had previously targeted 175 GW of renewable energy capacity by 2022, but as of last year fossil fuels accounted for more than two-thirds of the country’s total power generation. In 2024, less than 28 GW of solar and wind capacity was added to Indian grids.
  
  To be sure, India is making incremental progress on decarbonizing its economy. Last month marked the nation’s sixth straight month of decreasing thermal coal imports, for example. But current renewable energy capacity additions are nowhere close to where they need to be to be on any feasible pathway toward 500 GW of non-fossil power capacity by 2030.
  
  But not all reports are as pessimistic as the recent IEEFA publication. Just two months ago S&P Global reported that the record-breaking tenders signal positive trends for investment in India’s clean energy sector, even if a bit undersubscribed and overly ambitious. “A substantial increase in capacity requested via competitive tenders during the last few years represents a growing appetite for renewable energy in India driven by rising power demand, ambitious policy targets and a maturing competitive landscape,” the report stated. Source: Oilprice.com
- 2025-03-17
  MABUX: No sustainable trend with minor changes in Global bunker market on Mar.17.
  MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed a slight downward trend on Mar. 14: 380 HSFO - USD/MT - 496.46 (-2.89) VLSFO - USD/MT – 578.14 (-3.13) MGO - USD/MT – 754.01 (-5.74) As... Read more MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed a slight downward trend on Mar. 14:
  
  380 HSFO - USD/MT - 496.46 (-2.89)
  VLSFO - USD/MT – 578.14 (-3.13)
  MGO - USD/MT – 754.01 (-5.74)
  
  As of Mar.14, the MABUX Market Differential Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP), showed the following trends across key ports: Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Rotterdam and Singapore were overcharged, with premiums widening by $4 and $3, respectively. Fujairah and Houston continued to be undercharged, with discounts narrowing by $6 at both ports. Rotterdam’s MDI neared a 100% correlation mark between MBP and DBP.
  
  • VLSFO segment: Rotterdam moved into the overcharge zone, becoming the only overcharged port for this bunker segment. Singapore, Fujairah, and Houston were undercharged, with discounts dropping by $7, $6 and $9, respectively. Rotterdam remained close to a 100% correlation mark between MBP and DBP.
  
  • MGO LS segment: Rotterdam was the sole overcharged port, with the premium increasing by $3. The other three ports were underpriced, with the gap narrowing by $3 in Singapore, $7 in Fujairah, and $9 in Houston. Rotterdam’s and Houston’s MDI approached a 100% correlation mark between MBP and DBP.
  
  We do not expect a sustainable trend in the Global bunker market with minor changes on Mar.17: 380 HSFO – plus 1-3 USD/MT, VLSFO – plus 1-4 USD/MT, MGO LS – plus-minus 1-3 USD/MT.
  Source: MABUX
- 2025-03-17
  Aging Infrastructure Threatens the Future of European Energy
  As Europe’s energy demand continues to grow, the region’s transmission infrastructure is in dire need of an upgrade. There have long been concerns about investment in Europe’s grid lagging behind renewable energy investment and therefore delaying the... Read more As Europe’s energy demand continues to grow, the region’s transmission infrastructure is in dire need of an upgrade. There have long been concerns about investment in Europe’s grid lagging behind renewable energy investment and therefore delaying the deployment of clean power. However, recent assessments have demonstrated just how imminently grid modernisation is needed, if the region hopes to achieve its end-of-decade climate goals.
  
  According to the International Energy Agency (IEA), at least 1,500 GW of renewable energy projects have been halted or delayed due to the lack of available grid connections. In the EU, 11 out of 26 countries are basing their grid investment decisions on plans that assume lower wind and solar capacities at the end of the decade than those outlined in national targets according to a 2024 analysis. This means that there may not be enough grid capacity to connect new wind and solar projects as governments and private companies invest heavily in the expansion of Europe’s renewable energy capacity. In terms of solar power, there could be a mismatch of around 205 GW, which is almost equivalent to the EU’s total installed solar capacity of 263 GW today.
  
  Several European countries are now facing the high cost involved with managing an oversaturated grid system. For example, in 2023, Spain spent more on managing its congested transmission network than it invested in grid improvement projects. However, there is some optimism as, in November 2023, the European Commission (EC) established an Action Plan to accelerate the expansion of electricity grids. The EC had already established a supportive legal framework for the rollout of electricity grids across Europe, including the revised TEN-E regulation, the revised Renewable Energy Directive, and proposals for a Net-Zero Industry Act and a reformed electricity market design.
  
  Between 2023 and 2030, electricity consumption in the EU is expected to increase by around 60 percent. The report states that 40 percent of the EU’s distribution grids are over 40 years old and, with cross-border transmission capacity due to double by 2030, it will require $633 billion of investment to upgrade the region’s grid.
  
  Maroš Šef?ovi?, the Executive Vice-President for European Green Deal, Interinstitutional Relations and Foresight, stated, “Grids are the backbone of our energy system. Our Action Plan will ensure better support to infrastructure planning, development and operation, central steps to connect Europe’s growing renewable energy sources to the end-users that need them – from households to hydrogen producers. Through concerted efforts, we can develop more efficient, smarter and more integrated energy infrastructure, thereby making sure that we deliver the clean energy that we need to succeed in the green transition.”
  
  Nevertheless, Europe is facing increasing pressure to upgrade its grid at an accelerated rate to achieve its 2030 climate targets and meet the region’s growing power demand. As companies across Europe invest heavily in the expansion of the region’s renewable energy capacity, many are calling for faster and bigger transmission infrastructure projects. The CEO of the Swedish utility Vattenfall, Anna Borg, said that Europe requires both more transmission capacity to allow power to flow more easily between market areas and optimise prices and more clean electricity production. “Both from a sort of independence perspective and the security perspective, because also in the geopolitical context, there is a need to be more self-sufficient in Europe in general, Borg added.
  
  The Brussels-based electric sector association Eurelectric said this month that Europe must modernise its ageing electricity grid and double distribution network investments to $70.5 billion in 2025 to connect new green energy projects and meet the rising power demand. Eurelectric’s Secretary General Kristian Ruby said“We are revisiting energy security because of major changes in the geopolitical landscape.” He stressed that while Europe has long benefitted from cheap imported energy, the region must “revamp [its] energy policies and get ready to compete in a more unforgiving world… We need to rethink energy security and focus on not being too dependent on anyone.”
  
  A February Bruegel policy brief emphasises that it is more than just funding that is needed to effectively expand and upgrade Europe’s grid system. Fragmented networks across the region and unequal financing abilities across member states continue to cause delays to upgrades. The brief recommends the establishment of a European independent system operator (EU ISO) to enhance transparent information exchange and reduce regulatory bias towards capital-intensive investments and individual national interests above the European benefit. In addition, the creation of a grid fund could help overcome imperfect cost-sharing debates, which often slow projects.
  
  There is a clear need to upgrade Europe’s transmission network as the region increases its renewable energy capacity in response to the growing demand for clean energy. Much of the region’s grid system is outdated and ill-prepared for the influx of green energy looking to be connected over the next decade. However, with several countries involved in the discussion, it makes any upgrade to the system complicated to advance. While the European Commission has made strides in simplifying the legal framework for grid modernisation and putting an action plan in place, greater efforts must be taken to rapidly advance the EU’s transmission infrastructure to help the region achieve its climate targets. Source: Oilprice.com
- 2025-03-17
  Just 36 Companies Responsible for Half of Global Emissions
  Half of the world’s carbon emissions come from just 36 companies, according to a recent analysis. Countries worldwide have been battling to decarbonise their economies by investing in renewable energy and clean tech, moving away from fossil fuels, and... Read more Half of the world’s carbon emissions come from just 36 companies, according to a recent analysis. Countries worldwide have been battling to decarbonise their economies by investing in renewable energy and clean tech, moving away from fossil fuels, and reducing emissions from some of the most polluting industries. Despite their best efforts, it seems that the world may fail to achieve the 1.5-degree heating target outlined in the Paris Agreement climate accord unless the most polluting companies work to rapidly reduce their emissions.
  
  The Paris Agreement is a legally binding international treaty on climate change, which was adopted by 196 Parties at the UN Climate Change Conference in 2015. The agreement aims to hold “the increase in the global average temperature to well below 2°C above pre-industrial levels” and pursue efforts “to limit the temperature increase to 1.5°C above pre-industrial levels.” Forecasts from the UN’s Intergovernmental Panel on Climate Change suggest that surpassing the 1.5°C threshold risks triggering far more severe climate change impacts, such as more frequent and severe droughts, heatwaves, and rainfall. Achieving the 1.5°C limit requires that greenhouse gas emissions peak before 2025 at the latest and decline 43 percent by 2030.
  
  In recent years, governments worldwide have begun to invest in renewable energy and clean tech to reduce their reliance on fossil fuels and support a green transition. Several countries have also introduced carbon taxes and other incentives to encourage high-emissions-producing companies to decarbonise their operations. In addition to investing in low-carbon operations, supported by green energy and clean tech, many companies around the globe have invested in carbon offset schemes and carbon capture and storage technology to either mitigate or reduce their carbon emissions.
  
  However, recent research from Carbon Majors – a database of historical production data from 180 of the world’s largest oil, gas, coal, and cement producers – suggests that the biggest polluters globally are not doing enough to reduce their carbon emissions, which could harm progress towards achieving the aims set out in the Paris Agreement. The analysis shows that around half of the world’s carbon emissions produced in 2023 came from just 36 companies.
  
  The report showed that 36 major fossil fuel companies, including Saudi Aramco, Coal India, ExxonMobil, Shell, and multiple Chinese companies, contributed over 20 billion tonnes of CO2 emissions from their oil, gas, and coal operations in 2023. The figures for Saudi Aramco were astounding, showing that if compared to a country, it would be the fourth-biggest polluter globally after China, the U.S., and India. Meanwhile, ExxonMobil’s emissions were similar to those recorded for the whole of Germany.
  
  Carbon Major’s figures show that most of the 169 companies in the database increased their emissions in 2023. Meanwhile, the International Energy Agency (IEA) has repeatedly stated the need to reduce the global reliance on fossil fuels to tackle climate change. The organisation said new fossil fuel projects that started after 2021 are incompatible with achieving a net-zero emissions outcome by 2050.
  
  Emmett Connaire, at InfluenceMap, the think tank that created the Carbon Majors analysis, stated, “Despite global climate commitments, a small group of the world’s largest fossil fuel producers are significantly increasing production and emissions. The research highlights the disproportionate impact these companies have on the climate crisis and supports efforts to enforce corporate responsibility.”
  
  A Carbon Majors report from April 2024 showed that just 57 fossil fuel and cement producers were linked to 80 percent of global fossil fuel carbon dioxide emissions since the signing of the Paris Agreement in 2015. Despite a broad knowledge of the high levels of emissions being produced by these companies, little has been done to push them to reduce their emissions.
  
  The U.K. oil major BP, one of the private companies on the list of the biggest emitters, recently announced plans to cut its renewable energy investments and instead focus on increasing oil and gas production. This comes in spite of mounting pressure from international organisations and governments worldwide to decarbonise. BP said it planned to boost investments in oil and gas by around 20 percent to $10 billion annually, while reducing previously planned funding for renewables by more than $5 billion.
  
  When it comes to state-owned companies on the list, several countries with some of the largest carbon-emitting companies have made pledges to decarbonise, to support a global green transition, including Saudi Arabia and The United Arab Emirates. However, Saudi’s Aramco was found to be the world’s biggest carbon emitter. The firm is estimated to be responsible for more than 4 percent of the entire world’s GHG emissions since 1965.
  
  With just a few dozen companies producing most of the world’s carbon emissions, it demonstrates the dire need to restrict carbon-producing activities and encourage these oil majors to both invest in decarbonisation activities and diversify their energy mix. Many of the top 36 highest emitters are producing the same level of carbon emissions as entire countries, yet most are doing little to significantly reduce their emissions. If this trend continues, it may be impossible to achieve the climate aims outlined in the Paris Agreement, which could have devastating consequences. Source: Oilprice.com
- 2025-03-17
  CERAWeek: Alaska LNG Pressing Full Steam Ahead
  Alaska's LNG project is back in the spotlight with a new aggressive timeline: first exports by 2030. Bold? Absolutely. Realistic? Yes, according to Governor Mike Dunleavy speaking at CERAWeek. The $44 billion venture would move 3.5 billion cubic feet... Read more Alaska's LNG project is back in the spotlight with a new aggressive timeline: first exports by 2030. Bold? Absolutely. Realistic? Yes, according to Governor Mike Dunleavy speaking at CERAWeek.
  
  The $44 billion venture would move 3.5 billion cubic feet per day from the North Slope down an 800-mile pipeline to an LNG terminal, shipping out to eager buyers in Asia. According to Dunleavy, interest is strong from Taiwan, South Korea, Japan, and Thailand—markets that have been hungry for stable, long-term LNG supply.
  
  In February, for example, Taiwan expressed interest in buying Alaskan LNG as a way of avoiding tariffs—shortly after Japan—the world’s second-largest LNG importer—had done the same.
  
  For now, the project has Washington in its corner. It got the go-ahead in Trump’s first term, made it through the legal wringer, and now Trump’s back, bringing fresh support. Energy Secretary Chris Wright is even dropping hints about federal loan guarantees.
  
  It is the only federally permitted LNG export facility on the U.S. West Coast, offering direct, canal-free shipping via uncontested waters to Asian markets, the Alaska Gasoline Development Corporation has said.
  
  President Trump said of an executive order he signed on Day 1 that it would unleash “Alaska’s extraordinary resource potential,” which includes prioritizing “the development of Alaska’s LNG potential, including the permitting of all necessary pipeline and export infrastructure related to the Alaska LNG Project, giving due consideration to the economic and national security benefits associated with such development.”
  
  But will investors bite? The LNG market has had its ups and downs, and while Asian demand is solid, developers still need to justify the sky-high capex. Dunleavy’s optimism is one thing, but until the dollars start flowing, the 2030 target remains just that—a target. Source: Oilprice.com
- 2025-03-17
  Italy’s Grid Operator to Invest $25 Billion to Back Renewables Rise
  Italy’s power grid operator Terna SpA plans to invest more than $25 billion (23 billion euros) over the next ten years to facilitate the integration of renewable energy sources and boost the transport capacity of the grid, the company said on Friday in... Read more Italy’s power grid operator Terna SpA plans to invest more than $25 billion (23 billion euros) over the next ten years to facilitate the integration of renewable energy sources and boost the transport capacity of the grid, the company said on Friday in its 2025-2034 development plan.
  
  The investments represent a 10% increase compared to the previous plan.
  
  The upgrades and new links in the plan through 2034 “are essential to the pursuit of national and European targets in terms of energy transition and independence, resilience and efficiency of the electricity system,” Terna said in a statement.
  
  Terna plans to roll out by 2030 additional power infrastructure to support Italy’s energy transition. The new links include the Tyrrhenian Link, the Adriatic Link, the connection between Sardinia, Corsica, and Tuscany, and the Italy-Tunisia energy bridge.
  
  Terna’s development plan is aligned with Italy’s national energy and climate plan from 2024, which envisages solar and wind power capacity rising by 65 gigawatts (GW) by 2030, and by 94 GW by 2035, compared to 2023.
  
  “Requests for the connection of renewable plants, storage systems and Data Centres are constantly increasing, particularly in recent months for the latter,” said Giuseppina Di Foggia, Terna’s CEO and General Manager.
  
  In a major U-turn in energy policy, Italy has recently made the first steps toward reviving nuclear power.
  
  Last month, the Italian government approved a proposal to begin drafting a series of laws that would ultimately lead to Italy’s return to nuclear power generation after more than four decades.
  
  Italy halted nuclear reactors after a referendum in 1987 following the Chernobyl disaster a year earlier. In 2011, Italians rejected again the use of nuclear power in yet another referendum.
  
  But Italy’s current government led by Giorgia Meloni said last year that it plans to adopt legislation to return to nuclear power with the latest generation of small modular reactors (SMRs), as part of efforts to decarbonize industry. Source: Oilprice.com
- 2025-03-17
  U.S. and Vietnam Sign $4-Billion Energy and Minerals Deals
  American and Vietnamese companies signed this week several agreements in the energy and minerals sectors estimated to be worth $4.15 billion, as the Southeast Asian country looks to avoid U.S. tariffs and boost cooperation with U.S. firms. Vietnam’s... Read more American and Vietnamese companies signed this week several agreements in the energy and minerals sectors estimated to be worth $4.15 billion, as the Southeast Asian country looks to avoid U.S. tariffs and boost cooperation with U.S. firms.
  
  Vietnam’s Trade Minister Nguyen Hong Dien visited the United States this week and held talks with the US Trade Representative Jamieson L. Greer to advance bilateral economic and trade cooperation, Vietnamese state media reported.
  
  “Vietnam’s consistent policy is to build harmonious, sustainable, stable, and mutually-beneficial economic and trade ties with the US,” the Vietnamese minister was quoted as saying.
  
  “Vietnam has no intention to create any barriers that could harm the US’s workers or economic and national security,” the minister added.
  
  The U.S.-Vietnamese agreements included PetroVietnam Gas Corporation signing long-term LNG contracts with Conoco Phillips and Excelerate Energy, Viet Nam News reported.
  
  Among the other deals, Bình S?n Refining and Petrochemical JSC partnered with Kellogg Brown & Root for a study on sustainable aviation fuel, while PetroVietnam Power signed a Memorandum of Understanding (MoU) with GE Vernova for gas-fired power plant equipment.
  
  Masan Group signed a MoU with the US International Development Finance Corporation for financial support in deep mineral processing projects.
  
  Fuel trader Vietnam National Petroleum Group (Petrolimex) and top US ethanol suppliers US Grains Council (USGC), Renewable Fuels Association (RFA), and Growth Energy (GROWTH) agreed to boost biofuels trade.
  
  The agreements are valued at $4.15 billion, according to a PetroVietnam Power statement cited by Reuters.
  
  Vietnam is also pushing for the U.S. to recognize its economy as a “market economy” and remove the “non-market economy” status.
  
  “This would be a significant decision, reflecting the status of our comprehensive strategic partnership,” Trade Minister Dien was quoted as saying by Vietnam’s state media.
  
  U.S. Trade Representative Greer said, “Vietnam needs to take stronger measures to further open its market and improve the trade balance between our two countries.” Source: Oilprice.com