Oil products
Overview
Argus has been bringing price transparency to the oil industry since 1970, providing valued insight into all refined products and biofuels markets globally.
Our range of industry-leading price benchmarks, all informed by the most robust methodologies, provide a true reflection of how the markets operate and are relied upon across the value chain to facilitate global trade.
Our experts are embedded in local markets across the world and are in constant contact with market participants for the latest spot market intelligence. Their insights underpin our price assessments and market analysis, enabling our clients to make the most effective decisions for their business.
Oil products market coverage
Argus is the leading independent provider of market intelligence to the global energy and commodity markets. Our price assessments and market intelligence are available for every kind of refined oil product. Explore the coverage most relevant for your industry.
Latest oil products news
Browse the latest market moving news on the global oil products industry.
Germany ups diesel imports despite domestic oversupply
Germany ups diesel imports despite domestic oversupply
Hamburg, 8 June (Argus) — Imports of diesel cargoes into northern Germany are scheduled to increase on the month in June, while supplies remain plentiful inland, with domestic refiners having to lower prices to stimulate demand. Around 322,000t of gasoil and diesel are forecast to arrive at northern German ports in June, Vortexa data show, up by nearly 25pc compared to May. Half of these shipments come from the US, compared with less than 15pc in May. The rise in imports contrasts with inland oversupply. The 204,000 b/d PCK refinery in Seefeld-Schwedt, 310,000 b/d Miro and 207,000 b/d Bayernoil facilities have experienced persistent surplus in recent months, particularly for heating oil, according to traders. Compared with northern Germany — which relies mainly on imports alongside volumes from the 103,000 b/d Holborn refinery — products at PCK Schwedt and southern hubs are trading at significant discounts. Heating oil demand has picked up to a certain degree in recent weeks because of lower prices, traders said. But buyers overall remain cautious, largely limiting purchases to required volumes. Private heating oil tanks remain at their lowest in at least six years, Argus MDX data show. Pressure on motor fuel supply has eased since early May. Steady agricultural demand and stronger buying interest from end-users after the temporary fuel tax cut took effect in May have helped absorb earlier domestic oversupply. Spot imports through the Rhine from the Amsterdam-Rotterdam-Antwerp (ARA) hub are currently not economically viable, unlike Baltic inflows. And German refiners are still trying to move product down the Rhine to ARA to relieve inland supply pressure. By Johannes Guhlke Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India readies for 2027 SAF blending mandate
India readies for 2027 SAF blending mandate
Mumbai, 8 June (Argus) — India is gearing up for a mandatory 1pc sustainable aviation fuel (SAF) blend from 2027, triggering a rush among market participants to secure feedstocks and scale up domestic production. The country is on track to implement blending targets of 1pc by 2027, 2pc by 2028, and 5pc by 2030. Domestic SAF plants have been gearing up by securing international certification and efforts to secure consistent feedstock supplies. Indian state-owned Bharat Petroleum's (BPCL) refinery in Mumbai received the ISCC CORSIA certification for SAF production via the used cooking oil (UCO) co-processing pathway, it announced at the end of May. The SAF production facility is expected to become operational by the end of 2026, but the company has not disclosed the planned production capacity. This certification allows SAF produced at the plant to be used by airlines to meet their greenhouse gas reduction obligations under the Carbon Offsetting and Reduction Scheme for International Aviation (Corsia). Upstream firm Indian Oil's (IOC) Panipat refinery became the first in the country to achieve the ISCC CORSIA certification in August 2025 and was expected to begin producing SAF from UCO later that year, with an initial production capacity of 35,000 t/yr. But the project has been delayed and is now expected to start in the second half of this year, a source close to the matter told Argus . Besides ramping up co-processing of waste oil feedstocks to produce SAF, several Indian firms have announced ambitions of producing neat SAF through the hydro-processed esters and fatty acids (HEFA) pathway. IOC recently approved a joint venture with M11 Energy Transition to develop a $110mn SAF project in Paradip, Odisha, using the HEFA pathway. In January, Essar Future Energy disclosed plans to build a 800,000 t/yr SAF and hydrotreated vegetable oil (HVO) plant in the Gujarat state's Devbhumi Dwarka district. The hydrotreated biofuels produced will have both ISCC EU and Corsia certification. Plants have also been preparing by taking the initiative to secure adequate waste feedstock supplies for HEFA SAF production — often a key constraint to realising projects. Feedstock UCO can be domestically procured through hotels, restaurants, and households, but domestic supply is still at a nascent stage, lacking infrastructure to streamline collection and require collaboration between companies and government authorities for efficient supply. Mangalore Refinery (MRPL) in May issued a tender for the supply of 35,000t of Indian UCO for SAF production, to be delivered over a period of one year between 1 September 2026 to 31 August 2027. Given domestic supply limitations, Indian producers are also seeking feedstock from overseas. Imports are allowed if plants are located in free-trade zones and producing for export, although the government prefers to limit imports to support energy independence. India has been consistently procuring food waste oil (FWO) from China for biodiesel production, and could begin using these volumes for SAF production. FWO is considered an advanced feedstock under the EU's Renewable Energy Directive. Shipping data firm Kpler reported flows of 143,533 cargoes of FWO from China to India in 2025, with all purchases made by MRPL's New Mangalore Refinery plant. Hydrotreating-grade FWO typically commands a premium of 50-100 yuan/t or $5-10/t over hydrotreating-grade UCO fob China, which Argus last assessed at $1,200/t on 5 June. Participants are also considering feedstock imports from southeast Asia, particularly Indonesia and Malaysia. Argus last assessed strait of Malacca UCO at $1,170/t fob on 5 June. Alcohol-to-jet ambitions Ethanol is also drawing attention as a feedstock for SAF because of oversupply in the domestic market Ethanol can be converted into SAF through the alcohol-to-jet (ATJ) pathway, which involves converting ethanol into hydrocarbons and refining it into molecules suitable for blending with aviation fuel. But this process is resource intensive, which can make ethanol-based SAF less competitive for airlines because of higher costs. India's ethanol production capacity stood at 19.53bn litres/yr as of 31 October 2025, data from the Department of Food and Public Distribution show. This capacity is expected to be sufficient to help meet the country's SAF targets and support the ethanol industry, which is facing weak demand. Achieving a 5pc SAF blending target by 2030 would require about 700mn litres/yr of SAF, according to the oil ministry, while industry experts estimate the requirement at nearly 500mn litres/yr. Despite a wave of recent ATJ plant announcements, the technology could take years to completely become fully established. IOC had announced ATJ-SAF production capacity in collaboration with US startup LanzaJet, targeting a production capacity of 86,800 t/yr. The plant is expected to become operational by March 2028. LanzaJet owns the world's first fully commercial, large-scale ATJ-SAF plant in Georgia, US, which began production in November 2025 following several years of delays. Biofuels firm GPS Renewables in April announced collaboration with Lummus Technology on an ATJ project at Pudimadaka, Andhra Pradesh. The plant is expected to produce 1,800 t/yr of SAF and is scheduled to begin operations by March 2029. By Nikhil Sharma Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
African Energy Bank schedules September start
African Energy Bank schedules September start
Lagos, 5 June (Argus) — The African Energy Bank (AEB) is scheduled to launch in September, promoter African Petroleum Producers' Organisation (Appo) has said. Appo secretary general Farid Ghezali acknowledged "several postponements" but said the new deadline is "to make the bank operational in September 2026 in view of the incompressible deadlines from an administrative point of view". A planned April start was pushed back to this month before Appo members were again mobilised around a third-quarter deadline. Ghezali called on Appo members to redeem their pledges towards the $500mn start-up capital before the end of June. A source told Argus in May that 91pc of this had been raised and that Nigeria's state-owned NNPC and local content regulator NCDMB would make up the balance. The latter, which sits on Appo's board, said earlier this week that Nigeria remains committed to AEB's "formal commencement of operations", but provided no specifics. Ghezali said AEB aims to reverse the situation that sees Africa importing more than 60pc of its oil products consumption and producing only 12pc of global upstream liquids while being home to many of the world's largest national oil and gas reserves. NCDMB said AEB will achieve its aim by "mobilising private-sector funds for energy projects across the continent". Ghezali said the bank will target the financing of 20–30 LNG, petroleum products pipeline, terminals and refining projects by 2030. Projects that monetise natural gas as a transition fuel will take up 40pc of AEB's loan book and the priority will be given to projects that contribute towards the creation of "500,000–1mn direct and indirect jobs in the energy value chain". But even with the September start, Ghezali said AEB loan-making will only "open at the end of 2026". AEB will be based in Abuja, Nigeria. By Adebiyi Olusolape Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australian bioLPG set to meet half of demand by 2050
Australian bioLPG set to meet half of demand by 2050
Sydney, 5 June (Argus) — Australia's growing bioenergy sector could supply more than half of national LPG demand by 2050 in a best-case bioLPG scenario, energy advisory firm Blunomy said at the Gas Energy Australia forum in Sydney this week. But output is likely to remain constrained by limited production pathways and ongoing policy uncertainty. BioLPG is produced as a co-product of several fuel pathways, including alcohol-to-jet (ATJ), hydroprocessed esters and fatty acids (HEFA), and Fischer–Tropsch (FT) processes used to manufacture sustainable aviation fuel (SAF) and renewable diesel (RD). Several SAF and RD projects are under development in Australia — some expected to start before 2030 — and early modelling from Blunomy outlines the potential scale of bioLPG output across these pathways. In a best case scenario assuming full capture of bioLPG, production would reach about 24,000 t/yr by 2030, rising to around 257,000 t/yr by 2040 and roughly 300,000 t/yr by 2050, meeting about 52pc of projected LPG demand, a Blunomy representative said. Closing the remaining 48pc gap would require dedicated renewable liquid gas (rLG) pathways, including power-to-liquids technologies designed specifically for LPG output. Expanding Australia's bioenergy mix to include co-processing, biogas-to-LPG, residue-to-dimethyl ether (DME) pathways will also be critical, the firm said. Cost remains another key constraint. A 400,000 t/yr HEFA plant could produce around 20,000 t/yr of biopropane, 5pc of capacity, but refining and handling the gas requires complex and capital intensive distillation, refrigeration and logistics, a representative from Australian bioenergy producer Jet Zero said. As a result, commercial viability will depend on securing offtake agreements and stronger support from both government and industry to scale production and reduce costs, the firm said. Limited policy support for primary fuels — SAF and RD — has left comparatively little focus on bioLPG as a co-product. But some progress has been made this week. Australia's government-backed GreenPower scheme will launch a low carbon liquid fuels (LCLF) certification programme in 2028 , covering SAF, RD, biodiesel and bioLPG. The scheme, first announced in August last year, held stakeholder consultation earlier in 2026 and will develop certification frameworks in 2027. It will be based on a book and claim model with tradeable certificates, while demand-side support and mandates remain under consideration. By Grace Dudley Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Explore our oil products services
Whether you’re looking for independent spot price assessments or long-term market analysis, we have the solutions you need for the refined oil and biofuels markets. Explore the range of our services.
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.
