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EU could face jet fuel shortages in three weeks: ACI
EU could face jet fuel shortages in three weeks: ACI
London, 10 April (Argus) — EU airports could experience jet fuel shortages in the next three weeks, airports association ACI Europe has said. "If the passage through the strait of Hormuz does not resume in any significant and stable way within the next three weeks, systemic jet fuel shortage is set to become a reality for the EU", the organisation said in a letter to the European Commission. The letter follows a special meeting of the commission's Oil Co-ordination Group earlier this week, which ACI attended. Around 40pc of Europe's jet fuel imports transit the strait of Hormuz, but no jet cargoes bound for Europe have passed the strait since before the war between the US, Israel and Iran broke out on 28 February. The final cargo to have done so discharged earlier this week, in the Netherlands and Denmark, from the STI Supreme . Europe has adequate jet fuel supply at present, but traders and suppliers are extremely concerned about the coming weeks, and at least one European airline said suppliers could soon declare force majeure. These market participants broadly agree the effects will materialise by May , because Europe will be unable to fully replace lost Mideast Gulf supply. The fragile two-week ceasefire in the Gulf has done little to alleviate these concerns. Mideast Gulf loadings are unlikely to return to pre-war levels anytime soon, given high costs, the difficulty of securing insurance and the risk of continued attacks. This is in addition to major damage to regional energy infrastructure. It would also take at least four weeks for cargoes to arrive in Europe even if shipping resumes immediately. Stock levels in European countries vary, meaning some could face shortages sooner than others . In the most extreme scenario, the UK could run out of kerosine in three months, Portugal in four months and Hungary in five, Argus analysis shows, if Mideast Gulf supply cannot be replaced and if the impact spreads proportionally across importers. ACI Europe proposed measures the commission could adopt, including lifting restrictions and regulatory constraints — such as clarifying the EU Methane Emissions Regulation — collective purchasing of jet fuel, targeted refinery obligations and allowing producers to earmark part of their fuel sale premiums for financing sustainable aviation fuel (SAF). The organisation also called on the commission to develop EU-wide mapping, assessment and monitoring of jet fuel production and availability. European refiners are maximising jet production , Argus understands, and importing more from the US . By Amaar Khan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
EU rules out reopening methane regulation
EU rules out reopening methane regulation
Brussels, 10 April (Argus) — The European Commission will offer "flexibilities", but will not amend or reopen the bloc's methane emissions regulation, although it will issue non-binding recommendations, it said. "We're not planning to reopen or amend the methane regulation. This would bring more uncertainty at this stage," commission energy spokesperson Anna-Kaisa Itkonen said. The regulation clearly states that implementation shall not endanger EU security of supply, she added. "This is obviously extremely important right now," Itkonen added. Commission officials are working on a recommendation to EU member states to ensure a simple system to demonstrate compliance, and a separate recommendation to ensure uniform and co-ordinated implementation of penalties that does not endanger energy security. "Non-binding recommendations are a helpful signal, but on their own they will not resolve the methane regulation's underlying design flaws, which are creating barriers for EU importers," Eurogas secretary general Andreas Guth told Argus . Consistent implementations across all 27 EU member states is not guaranteed and takes time, he added. EU refiners and fossil fuel importers last month warned that without changes to the regulation the EU would risk up to 43pc, or 114bn m³, of the bloc's 2024 gas imports and 87pc of crude oil imports, or 9.8mn b/d, based on 2024 volumes, being non-compliant in 2027–29. EU officials are in talks with refiners and importers, but declined to comment on industry projections that the methane regulation could lead to supply risk in 2027–29. "We fully support reducing methane emissions," IOGP Europe managing director Francois-Regis Mouton told Argus , adding that non-binding recommendations and guidance are not enough for legal certainty. Mouton called for the methane regulation to be paused while the commission proposes changes to simplify the regulation. Industry is expected to urge EU energy ministers to take action next week. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan, Oman sign carbon offset deal
Japan, Oman sign carbon offset deal
Osaka, 10 April (Argus) — Japan has signed a joint offset agreement with Oman, aiming to achieve low-carbon growth in the Middle East country through investments and application of advanced technologies and infrastructure. The deal, which was signed on 9 April, calls on both countries to create a joint crediting mechanism (JCM) to promote investment and use of decarbonising technologies, products, systems, services and infrastructure in Oman. This is also aimed at implementing mitigation actions to reduce or remove greenhouse gas (GHG) emissions along with sustainable development. Verified carbon reductions or removals under the JCM can be quantified on an international basis. Some of the JCM credits issued from such mitigation efforts will be used to achieve Japan's nationally determined contributions (NDCs), while ensuring that double counting is avoided on the basis of corresponding adjustments between countries and consistency with the guidance on co-operative approaches referred to in Article 6.2 of the 2015 Paris climate agreement. The latest deal is Japan's 32nd bilateral carbon offset agreement since the JCM scheme was launched in 2013. Tokyo aims to secure accumulated international emission reductions and removals at around 100mn t-CO2 by the April 2030-March 2031 fiscal year and 200mn t-CO2 by 2040-41 through public-private collaboration under the JCM mechanism. Japan aims to reduce GHG emissions by 46pc by 2030-31, 60pc by 2035-36 and 73pc by 2040-41, compared to 2013-14 levels, before achieving net zero in 2050. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UN, BB Energy partner on carbon finance in Africa
UN, BB Energy partner on carbon finance in Africa
London, 9 April (Argus) — The UN High Commissioner for Refugees has partnered with two consortia to develop clean cooking and reforestation projects in Africa as part of the Refugee Environmental Protection Fund, the first large-scale refugee-led carbon finance platform designed to mobilise voluntary carbon markets in displacement settings. Trading firm BB Energy will lead the development and management of two carbon initiatives in Rwanda and Uganda alongside carbon consultancy Hamerkop, non-profit organisation Fairventures and consultancy Innovest, it announced today. BB Energy will manage the clean cooking component in the Kigeme camp in Rwanda, distributing wood and charcoal-efficient stoves, as well as LPG stoves, it said. It will also lead project activities in the Bidibidi settlement in Uganda, it said. The company will pursue approval under the first phase of the Carbon Offsetting and Reduction Scheme for International Aviation (Corsia) in both countries and is already engaging with the government of Uganda, the firm's head of environmental projects Philip Hardwick told Argus . It is also eyeing the Integrity Council for the Voluntary Carbon Market's high-integrity Core Carbon Principles tag for its clean cooking credits, Hardwick said. Meanwhile, the reforestation credits will target "the kind of buyer that's got an interest to do a really meaningful, nature-based project with very high humanitarian impact", he said. "For us at this stage, it's about keeping our powder dry and retaining optionality on which roads we can go down in the future," he said. It will list its projects on different registries, with the forestry initiatives and the LPG component of the clean cookstove project to be submitted to Verra, and the rest of the clean cooking activities on Gold Standard. There is no clear estimate of the amount of credits to be issued yet. But the initial desired round of funding for the UN is $30mn of investments. Separately, a consortium with NGO Farm Africa, development charity Tree Aid and research centre World Agroforestry will lead activities in the Kyangwali settlement in Uganda and will co-lead reforestation activities at the Kigeme camp. By Alexandra Luca 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 covering net zero markets around the globe.
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Strategic Opportunities in the RNG Market
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