Some EU countries put hold on AstraZeneca vaccine

Market: Agriculture, Biofuels, Chemicals, Coal, Coking coal, Condensate, Crude oil, Electricity, Emissions, Feedgrade minerals, Fertilizers, Hydrogen, LPG, Metals, Natural gas, Oil products, Petrochemicals, Petroleum coke
15/03/21

Some EU member states have temporarily halted distribution of the AstraZeneca/Oxford University (AZ/OU) Covid-19 vaccine, citing thrombotic side-effects.

The halt, even if it is temporary, could threaten any revival in demand for energy products that would come from eased restrictions on mobility and commerce. That in turn could have a knock-on effect for prices, which have risen sharply since the roll-out of vaccines began. The EU is already lagging some other developed regions in its administration of vaccines, including the UK and the US.

The Dutch government paused distribution of the AZ/OU yesterday, expressing concerns about reported cases of post-vaccine thrombosis. It will not administer the vaccine until 28 March. Germany and Italy followed suit today.

AstraZeneca said that as of 8 March there have been 15 events of deep-vein thrombosis and 22 events of pulmonary embolism reported among the 17mn people given its vaccine in the EU and UK, which it said "is much lower than would be expected to occur naturally in a general population of this size".

By Ben Winkley

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News

07/11/25

State AGs: Groups' recycling work 'anticompetitive'

Houston, 7 November (Argus) — A multistate coalition of US state attorneys general led by Florida are accusing environmental organizations of potentially violating state and federal antitrust laws by coordinating with large US corporations to impose "anticompetitive recycling practices." In a 29 October letter sent to the US Plastics Pact, The Consumer Goods Forum, and the Green Blue Institute, Florida attorney general James Uthmeier and attorneys general from Texas, Iowa, Nebraska and Montana said that by pushing major corporations to "align on restrictive plastic production and packaging standards" the environmental organizations are taking actions that could "unlawfully restrain competition, increase costs, and limit consumer choice." The letter states that by "collectively dictating what materials are deemed ‘recyclable'" the groups have driven up prices for consumers. "Radical environmental activists do not have the right, nor the avenue, to suppress business operations in our market," Uthmeier said in a separate statement, claiming the three groups were hindering the states' economic prosperity by coordinating business behavior, which he said would violate Florida's antitrust laws. The letters ask the environmental groups to explain how their "coordinated market activities" comply with state and federal antitrust laws, providing supporting documentation. The environmental groups targeted by the AGs promote voluntary packaging standards for major retail brands, offer recyclability guidelines and design frameworks that support sustainability. The Consumer Goods Forum said it has received the letter and will cooperate fully with the attorneys general to address the questions raised. The group said its programs are voluntary, transparent, and backed by antitrust compliance measures. The US Plastics Pact said it is reviewing the letter with legal counsel and remains confident its work complies with all applicable laws. Green Blue Institute has not responded to a request for comment. By Dona Davis Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Find out more

News

Cop: Paris goals remain elusive

07/11/25

News

07/11/25

Cop: Paris goals remain elusive

Belem, 7 November (Argus) — A decade after the birth of the Paris climate agreement, most countries still hail it as a landmark. But they also agree that to meet the agreement's goals, countries still need to implement much of what they committed to do 10 years ago. That seems to be the sentiment, heading into the 10 November start of the Cop 30 UN climate summit in Belem, Brazil. It is one that was raised many times during the leaders' summit held over the past two days in advance of the main conference and re-confirms its status as the "implementation Cop". "The Paris Agreement is rightly celebrated, but it is poorly implemented," said Laurent Fabius, president of Cop 21, where the agreement came together in 2015. Others at the pre-Cop leaders' summit appeared to agree. "What we must ask ourselves today is: are we really doing our best?" Brazilian president Luiz Inacio Lula da Silva said. "The answer is: not yet." While the greenhouse gas emissions reduction pledges made over the past decade can be hailed as considerable progress, more needs to be done to reach the Paris goals. The agreement aims to limit the rise in temperature global temperatures to "well below" 2°C above pre-industrial levels and pursues a 1.5°C threshold. At the moment, the world looks to be on a path to 2.3-2.5°C . "What we are expecting from Cop is to implement things that have already been decided," Fabius said, referring to the "circle" of eight past Cop presidents he is leading in Belem. "Implementation. Implementation. Implementation," Turkish vice president Cevdet Yılmaz said. But what implementation means varies from one party to another, usually along the usual global ‘north and south' lines that are common at the UN talks. "Developed countries should take the lead on emissions," Chinese vice premier Ding Xuexiang said. He also called for "true multilateralism" and for countries to "translate commitments into concrete action." "We need to strengthen international collaboration in green technology and industry, remove trade barriers and ensure the free flow of quality green products to better meet the needs of global sustainable development", he said. European leaders reiterated their commitment to Paris goals. "This must be the Cop that keeps 1.5‌°C within reach", European Commission president Ursula von der Leyen said. "Europe is staying the course, and we offer our support to our partners to do the same." Finance remains the big obstacle. "Compensation is necessary", Suriname president Jennifer Geerlings-Simons said. Last year's Cop, in Baku, Azerbaijan, resulted in a commitment of at least $300bn/yr for developing countries by 2035, with developed countries "taking the lead." The agreement also calls for public and private sources to scale up to at least $1.3 trillion/yr, also by 2035. But developing countries wanted a significantly higher commitment, and many say they are still waiting for past pledges to be fulfilled to help them transition to cleaner energy and adapt to climate change. "The promises of climate finance have not been met," Lula said. "Today, only a small portion of climate finance reaches the developing world." If that money does not come through, the goals of Paris may be further out of reach. "Without adequate means of implementation, demanding ambition from developing countries is unfair and unrealistic," Lula said. By Michael Ball Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Cop: 11 countries join carbon market group: Update

07/11/25

News

07/11/25

Cop: 11 countries join carbon market group: Update

Adds details of new endorsements Sao Paulo, 7 November (Argus) — Brazil, China and the EU launched the Open Coalition on Compliance Carbon Markets, an initiative to standardise and integrate different national carbon markets, Brazilian president Luiz Inacio Lula da Silva said at a world leaders' summit on 7 November. "Carbon markets can become important sources of public revenue, but they will only gain scale if countries move towards common parameters," Lula said. But "there are still pending tasks", he added. Those include defining better methodologies for accounting for climate finance, the creation of "equitable, collectively decided" environmental rules and increasing the size and efficiency of multilateral banks. Brazil today announced eight new endorsements, from Armenia, the UK, Canada, Chile, France, Germany, Mexico and Zambia. The coalition remains open to new signatories, Brazil added. "Carbon pricing has become a central tool to reduce greenhouse gas emissions with a strong business case for the economy and for the people," European Commission president Ursula von der Leyen said. "We want to work closely with Brazil and with many like-minded partners on putting a price on carbon. The key to success is to do it right and to do it together." The coalition will work to implement ambition, effectiveness and fairness of compliance carbon markets as an "important policy tool for achieving nationally determined contributions… while ensuring environmental integrity and supporting a just transition", the European Commission said. It also creates a platform for countries to work together to develop and enhance compliance carbon markets and carbon pricing policies, it added. There are 80 carbon pricing instruments in more than 50 countries, which cover around 30pc of global greenhouse gas emissions, according to the World Bank. Brazil in October launched a secretariat to regulate the country's carbon market. The legislation creating a regulated carbon market in the country passed in December last year . Von der Leyen encouraged other countries to also launch their own domestic compliance carbon markets and join the coalition. The leaders' summit, held on 6-7 November in Belem, northern Brazil, takes place just ahead of the UN Cop 30 climate talks, which begin on 10 November, also in Belem. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Cop: EU, China join Brazil in carbon market coalition

07/11/25

News

07/11/25

Cop: EU, China join Brazil in carbon market coalition

Sao Paulo, 7 November (Argus) — Brazil, China and the EU launched the Open Coalition on Compliance Carbon Markets, an initiative to standardise and integrate different national carbon markets, Brazilian president Luiz Inacio Lula da Silva said at a world leaders' summit on 7 November. "Carbon markets can become important sources of public revenue, but they will only gain scale if countries move towards common parameters," Lula said. But "there are still pending tasks", he added. Those include defining better methodologies for accounting for climate finance, the creation of "equitable, collectively decided" environmental rules and increasing the size and efficiency of multilateral banks. "Carbon pricing has become a central tool to reduce greenhouse gas emissions with a strong business case for the economy and for the people," European Commission president Ursula von der Leyen said. "We want to work closely with Brazil and with many like-minded partners on putting a price on carbon. The key to success is to do it right and to do it together." The coalition will work to implement ambition, effectiveness and fairness of compliance carbon markets as an "important policy tool for achieving nationally determined contributions… while ensuring environmental integrity and supporting a just transition", the European Commission said. It also creates a platform for countries to work together to develop and enhance compliance carbon markets and carbon pricing policies, it added. There are 80 carbon pricing instruments in more than 50 countries, which cover around 30pc of global greenhouse gas emissions, according to the World Bank. Brazil in October launched a secretariat to regulate the country's carbon market. The legislation creating a regulated carbon market in the country passed in December last year . Von der Leyen encouraged other countries to also launch their own domestic compliance carbon markets and join the coalition. The leaders' summit, held on 6-7 November in Belem, northern Brazil, takes place just ahead of the UN Cop 30 climate talks, which begin on 10 November, also in Belem. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Petrobras increases spending by 24pc in 3Q: Update

07/11/25

News

07/11/25

Petrobras increases spending by 24pc in 3Q: Update

Updates with investment plans in paras 3-4 and explorations plans in paras 8-9 Rio de Janeiro, 7 November (Argus) — Brazilian state-controlled Petrobras' investments increased by 24pc in the third quarter from a year earlier, as the firm continues to focus on production in the offshore pre-salt. Petrobras spent $5.5bn in capital expenditure (capex) in July-September, of which $4.7bn was for exploration and production. Of this investment in exploration and production, $2.7bn went to developing production of the pre-salt cluster in the Santos basin, particularly the construction of seven new floating production, storage and offloading units that will serve the Buzios, Atapu and Sepia fields. A further $900mn went to developing production in the Campos basin's pre- and post-salt, and $500mn went to exploration. Total investments over the first nine months of the year were $14bn, a 29pc increase on the same period last year. The company has speeded up investment execution due to projects being brought forward, rather than higher costs, and is on track to meet guidance by year's end, directors said. Capex guidance for 2025 as outlined in Petrobras' 2025-2029 business plan is $18.5bn. The firm is due to present an updated plan at the end of November. There are no plans to cut investments next year, said the director for engineering, technology and innovation, Renata Baruzzi. Petrobras posted a profit of R32.7bn ($6bn) in the third quarter, a 0.5pc increase on the same quarter last year and 23pc more than in the previous quarter. Higher crude production as well as stronger crude exports and domestic sales of diesel drove the third quarter result, Petrobras said. It also cited a small rallying of oil prices, with the price of Brent growing by 2pc compared with the second quarter, and lower operational costs, as contributing factors. The company's board approved a payout of R12.16bn ($2.3bn) to shareholders, or R0.9432/share, down from R1.3282/share a year earlier. Dividends will be paid in two installments, in February and March. Exploration going forward Petrobras celebrated receiving regulatory approval last month to drill an exploratory well in the Foz do Amazonas basin off Brazil's northern coast. This is the most coveted area in the equatorial margin, a new oil frontier which could contain reserves similar to those found off Guyana. The company hopes to find oil in this first well, named Morpho, but if not it will continue exploration, director for exploration and production Sylvia Anjos said. "We are already planning for eight wells in the region," she said. By Constance Malleret Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more

Some EU countries put hold on AstraZeneca vaccine

Related news posts

State AGs: Groups' recycling work 'anticompetitive'

State AGs: Groups' recycling work 'anticompetitive'

Cop: Paris goals remain elusive

Cop: Paris goals remain elusive

Cop: 11 countries join carbon market group: Update

Cop: 11 countries join carbon market group: Update

Cop: EU, China join Brazil in carbon market coalition

Cop: EU, China join Brazil in carbon market coalition

Petrobras increases spending by 24pc in 3Q: Update

Petrobras increases spending by 24pc in 3Q: Update

Business intelligence reports

Related Products

Argus North American Long-Term Electricity Forward Curves

Argus North American Long-Term Electricity Forward Curves

Argus North American Long-Term Electricity Forward Curves

Argus North American Long-Term Electricity Forward Curves

Argus Rare Earths Analytics Service

Argus Methanol

Argus Africa Fertilizer