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Latest market news

Brazil’s Cegas promoting biogas route to green H2

  • Market: Biofuels, Hydrogen, Natural gas
  • 31/08/21

Brazilian gas distributor Cegas is working to supply biomethane to an emerging green hydrogen hub at Pecem in the northeastern state of Ceara.

Cegas already distributes 90,000 m3/d of biomethane in the state, equivalent to 15pc of total state gas demand. The biogas is produced by local renewable energy company GNR Fortaleza at a landfill in Caucaia near the state capital Fortaleza.

Cegas is now working to supply biomethane to Pecem port, which has become a magnet for fledgling green hydrogen projects in Brazil. The company estimates it can produce 1kg of green hydrogen from 4-5m3 of biomethane.

Pecem has so far attracted total investment commitments of over $18bn for projects spearheaded by French renewables firm Qair and Australian companies Enegix Energy and Fortescue Future Industries (FFI). All three companies plan to use electrolysis fueled by renewable power to produce green hydrogen.

In contrast, Cegas is seeking to produce green hydrogen from biomethane. Advocates of this approach say that it is more cost effective, because it substitutes natural gas with biogas in existing industrial infrastructure, transforming grey hydrogen production into green without significant new investment.

Cegas is currently negotiating with companies that produce grey hydrogen to use biomethane to test green hydrogen production methods and is also conducting studies to determine the technical specifications needed to distribute hydrogen by pipeline.

The state is currently mapping out its biogas production potential. Unlike biogas production in Brazil's southeastern region, which is dominated by the sugarcane industry, Cegas is exploring other sources, including landfills and agricultural waste.

Brazil's biogas association Abiogas estimates Brazil has the potential to produce 20,000 t/d of green hydrogen from biomethane or 7mn t/yr.

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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
10/04/26

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.

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US inflation quickens to 3.3pc in March, gasoline soars

10/04/26
News
10/04/26

US inflation quickens to 3.3pc in March, gasoline soars

Houston, 10 April (Argus) — US inflation surged to an annual 3.3pc in March, lifted by higher war-driven energy costs, including the largest monthly gain for gasoline on record. The consumer price index rose at the fastest pace since mid-2024, climbing from 2.4pc in the 12 months through February, according to the Bureau of Labor Statistics (BLS). The gain was in line with estimates of economists surveyed by Trading Economics. Energy rose to an annual 12.5pc in March compared with a 0.5pc annual gain in February. The 10.9pc monthly gain in energy was the largest for a single month since September 2005. Gasoline surged by an annual 18.9pc in March after falling by 5.6pc in February. Gasoline's monthly gain was 21.2pc, the largest monthly gain since records began in 1967, according to BLS. Fuel oil rose by 44.2pc in March from a year earlier, following a 6.2pc annual gain in February. The 30.7pc monthly gain in fuel oil was the highest monthly gain since February 2000, according to BLS. Energy services rose by an annual 5pc in March compared with a 6.3pc gain in February. Electricity rose by 4.6pc compared with a 4.8pc gain in February. Airline fares rose by 14.9pc following a 7.1pc gain the prior month. Core drop, flat Fed rate still expected So called core inflation, which strips out more volatile food and energy, rose by 2.6pc compared with a 2.5pc gain the prior month. "Looking ahead, core CPI inflation still looks set to fall this year, now that nearly all the tariff costs have been passed through to consumer prices, unit labor costs are rising at a sub-2pc pace, and new rents are essentially flat," Pantheon Macroeconomics said in a note. Fed funds futures suggest the Federal Reserve is likely to keep its target rate unchanged at 3.5-3.75pc through the end of the year, with about a 24pc probability of one quarter-point rate cut by December and just a 1.1 point chance of a rate hike. Services less energy services, considered core energy services, rose by 3pc compared with a 2.9pc gain the prior month. Medical care services rose by 3.7pc following a 4.1pc annual gain. Food rose by an annual 2.7pc following a 3.1pc gain. Meat rose by 6.8pc, down from 8.6pc. Shelter rose by 3pc, unchanged from the prior month. New vehicles rose by 0.5pc while used vehicle prices fell by 3.2pc in March from a year prior, both unchanged from a month earlier. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

Attacks shut Saudi Satorp refinery units: TotalEnergies

10/04/26
News
10/04/26

Attacks shut Saudi Satorp refinery units: TotalEnergies

Dubai, 10 April (Argus) — TotalEnergies said on Friday that one of two processing trains at the 460,000 b/d Satorp refinery in Saudi Arabia was damaged in an "overnight incident" on April 7-8, prompting a precautionary shutdown of units at the site. TotalEnergies, which operates Satorp in a 37.5-62.5 venture with Saudi state-controlled Aramco, disclosed the damage a day after Riyadh said Iranian attacks had hit key energy facilities in the country including the refinery. The Saudi statement did not specify when the incident at Satorp occurred or how extensive the damage was. The details have emerged after a ceasefire between the US and Iran that should end nearly six weeks of attacks on energy facilities across the Mideast Gulf region. Elsewhere in the region, TotalEnergies said its production in Qatar, Iraq and offshore UAE had been shut or was in the process of being shut down, representing around 15pc of the company's total output. Those disrupted volumes are tied to some of the company's key partnerships in the region, including LNG and upstream ventures with state-owned QatarEnergy, Iraq's Basra Oil (BOC) and oil concessions with state-owned Adnoc in the UAE. TotalEnergies' onshore UAE production, equivalent to about 210,000 b/d net to the company, is unaffected, it said. The company said the disrupted Middle East output accounts for around 10pc of its global upstream cash flow, but said higher prices would cushion the effects of the disruptions. TotalEnergies said an $8/bl rise in Brent from its base-case assumption of $60/bl would be enough to offset the expected 2026 cash-flow loss from its Iraq, offshore UAE and Qatar assets. It also said the effect of LNG production shutdowns in Qatar on its trading business would be limited to around 2mn t in 2026, because most Qatari LNG is marketed by QatarEnergy. By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

Trump showing signs of frustration over Hormuz stasis

10/04/26
News
10/04/26

Trump showing signs of frustration over Hormuz stasis

London, 10 April (Argus) — US president Donald Trump is beginning to show signs of frustration over a lack of tangible progress with respect to reopening the strait of Hormuz ꟷ a key condition of the ceasefire that the US agreed with Iran earlier this week. The agreement announced on 7 April ostensibly called for an end to strikes by the US and Israel on Iran for two weeks, in return for Iran agreeing to provide safe passage for commercial vessels through the key waterway through co-ordination with the Iranian armed forces. But less than three days in, not only have transits through the strait not increased, they have actually fallen from the already low levels of the past few weeks. Less than eight vessels transited the strait on average in the two days since the ceasefire was agreed, according to Kpler data, down from more than 12 in the first week of April. This compares with more than 100 per day before the start of the war. "Iran is doing a very poor job, dishonourable some would say, of allowing oil to go through the strait of Hormuz. That is not the agreement we have!" Trump said on his Truth Social platform overnight. The slowdown has come, at least in part, due to infractions that Iran said its counterparts have made since the ceasefire was agreed. Tehran, specifically, objected to a massive bombing campaign that Israel carried out across Lebanon on 8 April, as it considered Lebanon to be part of the ceasefire agreement. Pakistan's prime minister Shehbaz Sharif said as much in his announcement of the ceasefire. But Israel's prime minister Benjamin Netanyahu has since insisted that the agreement did not include a ceasefire in Lebanon. The US has said the same. Iran's Fars news agency, which is affiliated with the Islamic Revolutionary Guard Corps (IRGC), cited an informed source shortly after Israel's bombing campaign on 8 April that the strait would "remain closed" until a full ceasefire was established in Lebanon. Kpler data showed just five vessels transited the strait on 8 April, down from 13 the day before. Iran also appeared to carry out strikes against several of its Arab Gulf neighbours in retaliation for the Israeli campaign, and strikes on oil infrastructure on the two islands of Lavan and Sirri, with both Saudi Arabia and Kuwait reporting significant damage to key energy installations, after the ceasefire agreement. In an earlier post on Truth Social, Trump hit out at "reports that Iran is charging fees to tankers going through the Hormuz strait". Iran had "better not be, and if they are, they better stop now!" he said. Trump was referring to a system that Iran has been employing in recent weeks whereby vessels have paid Tehran a fee to transit the waterway safely ꟷ a system first revealed by Iranian parliament member Alaeddin Boroujerdi in mid-March . Hamid Hosseini, the spokesman for Iran's oil, gas and petrochemical products exporters' union, told Argus this week that the system continues, with the fee charged directly linked to the volume of oil on board. "Shipowners are being asked to pay $1 per barrel, and that can be done in the local currency, rials, or cryptocurrency, but only after the vessel has received a permit from the IRGC," Hosseini said. Iranian lawmakers are also preparing to bring a bill formalising Iran's role as the guardian and guarantor of the waterway to the parliament for a vote. But others are pushing back against the idea of Iran taking control of the strait, or setting up a toll there. "Open the strait unconditionally," said Sultan al-Jaber, chief executive of Abu Dhabi's state-owned Adnoc on 8 April. "Iran has made clear… that passage is subject to permission, conditions and political leverage. That is not freedom of navigation. That is coercion." The European Commission, also on 8 April, said under international law, freedom of navigation must be insured, meaning "no payment or toll whatsoever". By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

Iran eyes regional solution for Hormuz crisis

09/04/26
News
09/04/26

Iran eyes regional solution for Hormuz crisis

Dubai, 9 April (Argus) — Iran is proposing a regional solution to the strait of Hormuz crisis that would involve at least some of the countries bordering the Mideast Gulf, according to a bill currently under discussion in parliament. Part of that would involve charging a fee for vessels passing through the key waterway, with revenues from this available to all participating countries as 'war reparations'. " Dubbed the 'law of strategic action for peace and development of the Persian Gulf,' the Iranian bill would govern Tehran's oversight and management of traffic through Hormuz, which has been severely disrupted since the start of the US-Israeli war against Iran on 28 February. Tehran's subsequent threats to any and all vessels it deemed to be 'unfriendly' led to traffic through the strait dropping to around seven a day in March, compared with typical daily movement of more than 100 before the war according to Kpler data. Diplomatic engagement with several of what Tehran dubs 'friendly' countries has seen a slight pick-up in traffic through the strait, with more than 11 vessels crossing on average in the first eight days of April. Malaysia, Thailand, the Philippines and Iraq have all secured deals for passage with Tehran, and Islamabad last week said it had secured the safe passage of 20 Pakistani-flagged ships. This pick-up came as Iran began introducing something of a toll system, whereby vessels would pay Tehran a fee to transit the waterway safely — a process first revealed by Iranian parliament member Alaeddin Boroujerdi in mid-March . Speaking to Argus , Hamid Hosseini, spokesman for Iran's oil, gas and petrochemical products exporters' union, confirmed the toll mechanism remains in place. "Every very large crude carrier (VLCC) transiting the strait has been paying $2mn, in line with what has been under discussion in parliament," Hosseini said. The fee being charged is directly linked to the volume of oil on board, Hosseini said. "Ship owners are being asked to pay $1 per barrel, and that can be done in the local currency, rials, or cryptocurrency, but only after the vessel has received a permit from the IRGC," he said. Tidings for all This mechanism appears to form the basis of how Iran sees the future of the strait of Hormuz, and its role as the guardian and guarantor of the key waterway. "The Iranian government, in co-operation with the Iranian armed forces, is obliged to provide services, like navigation guidance and vessel inspection, as well as compliance and financial assessments," the bill says, specifying that vessels related to "warring countries" will, for the most part, be barred. "The armed forces will determine which vessels are considered belligerent, and which are not," the bill says, stating that final say will come from the Supreme National Security Council (SNSC), one of Iran's most powerful decision-making bodies. Chaired by the president, the SNSC is responsible for national security, defense and major foreign policy strategy, and has been deeply involved in formulating Iran's war effort. The bill reiterates vessels will need to pay a fee to transit Hormuz, either in rials or cryptocurrency, it says proceeds will not go to Iranian state coffers, but to what it calls a 'Persian Gulf Reconstruction and Development Fund' that regional countries can apply to join. "The resources in this fund will be considered war reparations for Iran and other member countries, and be used for the reconstruction and development needs of the member countries," the bill says. Gulf countries are yet to show appetite for this plan. Oman's transport, communications and information technology minister Said Al-Maawali on 8 April said the country is party to all international maritime conventions, which do not allow for the imposition of charges on passage. The Iranian bill has secured approval from parliament's national security council, but has not yet been brought to the parliament floor for a vote, Hosseini said. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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