Oil Daily | Libya Restarts Mabruk Oilfield, Aims for 25,000 bpd Amid Indian Surge in Russian Crude Imports

【Global Oil Supply and Demand】

Data centers and LNG exports are driving record high U.S. natural gas demand, says EQT's Toby Rice, but infrastructure issues hinder growth. Pipeline shortages have led to rising electricity bills, with AI and LNG exports as key demand drivers. U.S. LNG production could average 105.2 billion cu ft daily, contingent on pipeline availability.

Ukraine plans to import U.S. LNG via EU terminals due to damaged domestic infrastructure. Ukraine's gas system operator aims for at least 4 billion cubic meters of imports between April and October. Political preference leans towards U.S. LNG over competitors, contingent on price differences.

Indian crude oil imports from Russia are recovering after U.S. sanctions caused a dip. Non-sanctioned tankers are increasingly used to transport Russian Urals crude to India, with imports on track to reach 1.54 million bpd. India remains a major buyer of Russian oil, benefiting from below-cap prices.

【Oil-Producing Countries Dynamics】

Libya resumed production at the Mabruk oilfield after a decade-long halt, aiming to increase output to 25,000 bpd by July. Plans to expand production to 2 mb/d by 2028 require significant investment. Kuwait also aims to double its output to over 4 mb/d by 2035, focusing on its Neutral Zone and domestic fields.

【Latest Oil Policies】

The EPA is reviewing the 2009 Endangerment Finding, which could impact future climate policies. Dismissal could alter regulations on emissions from power plants and other sectors. Energy Secretary criticizes the finding's negative impact, with calls for regulations to be science-based.

【Industry News】

U.S. LNG exporters, including Energy Transfer, are renegotiating contract prices due to rising costs impacting project profitability. Construction, liquefaction, and labor expenses have made new LNG projects costlier, prompting ongoing price negotiations.

A group of large energy users, including Amazon, Google, and Meta, pledged to triple global nuclear capacity by 2050. The pledge, made at CERAWeek 2025, aims to enhance energy security and support the global energy transition, with nuclear power as a key component.

【Company News】

NextEra Energy plans to double its $20 billion investment in Texas, focusing on renewable development. CEO John Ketchum emphasizes the need for diverse energy sources, including renewables and nuclear, to meet U.S. electricity demand growth predictions.

RWE signed a deal to supply TotalEnergies with green hydrogen from 2030 to 2044, marking one of the largest agreements for green hydrogen globally. The hydrogen will be produced at RWE's Lingen electrolysis plant and used to reduce emissions at Total's Leuna refinery.

【Others】

Bolivia's state energy company YBFB plans to use cryptocurrency for energy imports due to dollar shortages amid a fuel crisis. The move follows Venezuela's failed attempt with its petro cryptocurrency. Bolivia aims to address currency issues while maintaining energy supply.