A statement posted on the White House website on Tuesday said the Senate “delivered a resounding victory for American workers, farmers, and small businesses by passing President Donald J. Trump’s One Big Beautiful Bill”. The White House statement described the bill as “a transformative legislative package that locks in historic tax relief, delivers border security, reforms welfare, funds critical infrastructure, and more”. The statement linked to an X post by the “Official Rapid Response account of the Trump 47 White House” which noted that Vice President JD Vance “cast[ed]… the deciding vote as the Senate approve[d]… the One Big Beautiful Bill – moving it back to the House and one step closer to President Trump’s desk”. A summary of the bill on the Congress website, dated May 22, states that it “reduces taxes, reduces or increases spending for various federal programs, increases the statutory debt limit, and otherwise addresses agencies and programs throughout the federal government”. A tracker on the site showed that the bill had to pass the House and the Senate before going to the President and becoming law. In a statement sent to Rigzone late Tuesday, Independent Petroleum Association of America (IPAA) President and CEO Jeff Eshelman said “President Trump’s One Big Beautiful Bill remains a win for American energy”. “The bill passed today improves the ability of independent oil and natural gas producers to supply reliable, affordable energy to the American people,” he noted. “IPAA is pleased that the legislation reinstates oil and natural gas lease sales for onshore and offshore federal lands and makes common sense reforms to the permitting and leasing process on federal lands. IPAA members, the small businesses of the oil patch, are grateful that industry tax treatments including intangible drilling costs and percentage depletion were protected, along with carried interest deductions being preserved,” he added. “While

Saudi Arabia led a surge in crude exports from stalwart oil-producing giants in the Middle East in June.  The flood may reflect a race by Riyadh – along with neighboring Kuwait and the United Arab Emirates – to expedite barrels out of the Persian Gulf while a conflict between Israel and Iran threatened the region’s shipping corridor. While the trio are entitled to raise crude production under an OPEC+ accord, their exports appear to have climbed even further. The three nations loaded 11.9 million barrels a day onto tankers in June, ship-tracking compiled by Bloomberg shows. Their collective seaborne exports were the highest since April 2023.  “Amid supply disruption concerns, Middle Eastern oil producers might have looked at additional storage locations around the world,” said Giovanni Staunovo, a commodity analyst UBS Group AG.  The boost from the three producers, who rank among the biggest and most reliable in the Organization of the Petroleum Exporting Countries, signals the group and its partners are pressing on with plans to speed up the return of halted output – a strategy shift that has rattled crude traders and depressed prices, given faltering demand and an impending oversupply. The correlation between exports and production is patchy because countries load barrels from storage and can also ship them to storage. Likewise, the timing of a few large tanker shipments can have a big impact on flow rates. The bottom line, though is that the month-on-month gain from the trio – at 937,000 a day, their largest collective hike since September 2023 – means large amounts of extra supply are now en route toward buyer countries. Riyadh bolstered crude exports by 441,000 barrels a day, or about 7 percent, this month to 6.36 million a day, according to a preliminary analysis of tanker-tracking data compiled by Bloomberg. Kuwait’s exports rose to the highest

Eni SpA’s chemical arm, Versalis SpA, has transferred its oilfield chemicals assets to a new company called Versalis Oilfield Solutions SRL in an expansion bid, Eni said Tuesday. “The operation aims to consolidate Versalis’ position in the oilfield services sector by bringing together key expertise and strategic activities in a single, focused and operationally efficient entity”, Italy’s state-controlled Eni said in an online statement. “Versalis’ oilfield operations encompass research and development of advanced chemical formulations, outsourcing their production and marketing solvents and additives designed for the oil drilling industry. Products are tailored to meet specific client requirements, while services include sales and after-sales support, ensuring continuous and qualified technical assistance”. Launched 2010, Eni’s oilfield chemicals business now operates in Africa, the Americas, Asia and Europe, according to the company. Versalis Oilfield Solutions will expand “the scope of activities in terms of products and services, achieve higher revenue targets, and maintain strong profitability”, Eni said. Last year Eni finalized a plan to transform Versalis, which makes basic chemicals, chemical products including plastics and biochemical products such as biolubricants. With an investment of around EUR 2 billion ($2.36 billion), the plan “aims to reduce emissions by approximately 1 million tonnes of CO2, currently about 40 percent of Versalis’ emissions in Italy”, Eni said in a press release October 24, 2024. “It includes the set-up of new industrial plants consistent with the energy transition and decarbonization of industrial sites across sustainable chemistry, as well as biorefining and energy storage”, Eni added. “To enable the construction of the new plants, activity at the cracking plants in Brindisi and Priolo, and the polyethylene plant in Ragusa, will be phased out”. “Eni aims to significantly reduce Versalis’ exposure to basic chemicals, a sector that is facing structural and irreversible decline in Europe, and which has led

Macquarie strategists are forecasting that U.S. crude inventories will be down by 1.3 million barrels for the week ending June 27, an oil and gas report sent to Rigzone by the Macquarie team late Monday revealed. “This follows a 5.8 million barrel draw in the prior week, with the crude balance again realizing significantly tighter than our expectations amidst another week of disappointing net imports,” the strategists stated in the oil and gas report. “For this week’s crude balance, from refineries, we model an increase in crude runs (+0.2 million barrels per day),” the Macquarie strategists added in the report. “Among net imports, we again model a sharp increase, with exports significantly lower (-1.0 million barrels per day) and imports modestly higher (+0.2 million barrels per day) on a nominal basis,” they continued. The strategists highlighted in the report that timing of cargoes remains a source of potential volatility in this week’s crude balance. “From implied domestic supply (prod.+adj.+transfers), we look for a nominal reduction (-0.3 million barrels per day) this week,” the strategists said in the report. “Rounding out the picture, we anticipate another small increase in Strategic Petroleum Reserve (SPR) stocks (+0.3 million barrels) this week,” they added. The Macquarie strategists went on to state in the report that “among products”, they “look for a gasoline build (+2.3 million barrels) with distillate stocks slightly higher (+0.2 million barrels), and jet stocks modestly lower (-0.4 million barrels)”. “We model implied demand for these three products at 14.7 million barrels per day for the week ending June 27,” the strategists went on to state. U.S. commercial crude oil inventories, excluding those in the SPR, dropped by 5.8 million barrels from the week ending June 13 to the week ending June 20, the U.S. Energy Information Administration (EIA) highlighted in its

German utility Uniper SE has signed a deal to supply the state of Baden-Wuerttemberg with 86 gigawatt hours (GWh) of solar electricity per year for three years, or around 258 gigawatt hours. The power is meant for the universities in Ulm, Mannheim, Hohenheim, and Constance. The delivery period will run from January 1, 2026, to December 31, 2028, the company said in a media release. The contract involves a full green supply with flexible guarantees of origin adapted to customer consumption and is based on electricity from Spanish photovoltaic systems that have recently been connected to the grid, Uniper said. The agreement brings the universities one step closer to a sustainable electricity supply. The University of Konstanz already operates its own combined heat and power plants, which cover 50 percent of its electricity requirements. The University of Mannheim has also been sourcing all of its electricity from renewable energies since 2012, Uniper said. “Our customers’ demand for green electricity has increased enormously and we are pleased to be able to meet this demand – always with the aim of harmonizing security of supply and low CO2 energy. In this context, we are supporting the universities in Baden-Wuerttemberg on their way to a better CO2 balance”, Gundolf Schweppe, CCO for Sales at Uniper, said. Uniper and Baden-Wuerttemberg had partnered for energy supply before. In 2021, they signed a gas contract with the University of Stuttgart for January 2023 to December 2026. “Green power contracts have become a key driver in times of energy transition: they guarantee the supply of renewable energy, protect against price fluctuations, promote innovation, and ultimately reduce emissions”, Uniper said. To contact the author, email [email protected] What do you think? We’d love to hear from you, join the conversation on the Rigzone Energy Network. The Rigzone Energy Network is

Malaysia’s Petroliam Nasional Berhad (Petronas) has secured a deal with Mahindra & Mahindra Ltd. Petronas Lubricants International (PLI) and Petronas Lubricants (India) Pvt. Ltd. bagged an Aftermarket Service Fill contract from India’s largest sports utility vehicle (SUV) manufacturer. Under the agreement, Petronas Lubricants will be the sole distributor of vehicle fluids to Mahindra’s authorized dealers, workshops, and stockists under the Maximile brand within Mahindra’s South Zone Distribution network in India, Petronas said in a media release. The deal involves engine oils, transmission oils, axle oils, and steering fluids. The deal spans 50 Stock Keeping Units (SKUs), catering to a wide range of passenger cars and SUVs across the region, Petronas said. “This collaboration marks a strategic step for PLIPL, reinforcing its commitment to deliver high-performance, OEM-aligned solutions to India’s rapidly growing automotive market”, Petronas said. “Through decades of engineering expertise, PLIPL’s innovative products will now be accessible to a broader market, enabling more customers to experience its award-winning Fluid Technology Solutions™ while supporting the future of mobility in India with Mahindra as a trusted partner. “With proven capabilities in R&D, manufacturing, and global distribution, PETRONAS Lubricants International is ideally positioned to support Mahindra’s expansive service network and evolving customer expectations”, it added. The agreement was signed by Binu Chandy, Chief Executive Officer of Petronas Lubricants India Pvt. Ltd., and R. Veeraraghavan, Senior Vice President of Strategic Sourcing, Mahindra & Mahindra Ltd., in Mumbai. To contact the author, email [email protected] What do you think? We’d love to hear from you, join the conversation on the Rigzone Energy Network. The Rigzone Energy Network is a new social experience created for you and all energy professionals to Speak Up about our industry, share knowledge, connect with peers and industry insiders and engage in a professional community that will empower your career in energy. MORE FROM THIS