Peruvian fuel and LPG retailer Primax has signed a deal with Ecuador's state-owned PetroEcuador to use the latter's import infrastructure, becoming the latest company to get behind the country's fuel market liberalisation. PetroEcuador recently signed similar deals with subsidiaries of Chile's Copec as well as local firms Corpetrol and WFSE. Primax will pay PetroEcuador a fee of 2.7¢/USG for use of its facilities. The Peruvian firm holds a 22pc share in Ecuador's retail fuel market, while PetroEcuador holds around 19pc.
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Kuwait suspends air traffic after drone hits airport
Kuwait suspends air traffic after drone hits airport
Dubai, 3 June (Argus) — Kuwait has suspended air traffic after Iranian drones hit Kuwait International Airport late on Tuesday, the country's civil aviation body Paca said today. A number of Iranian drones targeted the airport's terminal one, the ministry of defense said. The attack caused casualties and significant damage to the airport facilities, said Paca spokesman Abdullah Al-Rajhi. "An additional wave of Iranian drones attempting to attack US forces in Kuwait failed to impact intended targets tonight", the US Central Command (Centcom) said, adding that "defenses successfully downed multiple drones". Kuwait International Airport is closed until 14:00 Kuwait time (11:00 GMT) on 4 June. Kuwait's low-cost carrier Jazeera Airways said all flights scheduled for today have been cancelled until 14:00 local time, or until further notice. The airline said all its aircraft are being repositioned to Saudi Arabia. Kuwait's airport has been repeatedly targeted by Iran since the war with the US and Israel began on 28 February. The attacks damaged infrastructure, with the most recent drone strike causing fires at the airport's fuel depots on 1 April . The new attacks come just two days after Kuwait resumed regional and foreign airline flights from its airport, in hopes to fully restart air traffic operations in the country. Kuwait was the last country in the region to reopen its airspace on 24 April , nearly two months after shutting it when the war began. The disruption to flights has sharply curtailed Kuwaiti jet fuel demand, which fell to 1,000 b/d in March, according to the country's latest submission to the Joint Organisations Data Initiative (Jodi). Kuwait's jet fuel demand averaged around 19,000 b/d in 2025. By Ieva Paldaviciute Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Ampol to acquire fuel retailer EG Australia
Ampol to acquire fuel retailer EG Australia
Sydney, 3 June (Argus) — Australia's refiner and retailer Ampol has received regulatory approval from the country's competition regulator to acquire UK-owned EG Australia in a cash-settled deal worth A$1.1bn ($780mn), it said today. The Australian Competition and Consumer Commission (ACCC) will allow the deal to proceed if Ampol divests 41 EG Australia fuel stations. The regulator has approved Dib Group, trading as Metro Petroleum, as the purchaser of these divestment sites. The acquisition is expected to be completed on 30 June, subject to final regulatory requirements. The regulator previously identified 115 EG fuel stations where the deal would raise competition concerns across Brisbane, Melbourne, Sydney and Canberra, where Ampol's post-acquisition market share would have reached 21pc, 19pc, 20pc and 31pc respectively. Ampol had earlier planned to divest 19 retail fuel stations , but this was deemed insufficient to offset competition concerns. Ampol expects the acquisition to generate targeted synergies of A$65mn-80mn per year and said the deal will strengthen its retail network and expand its higher-margin fuel and convenience business. Total fuel sales volumes reached around 428,000 b/d in January–March, broadly stable compared with 6.14bn litres in the same quarter a year earlier, with retail volumes broadly unchanged while wholesale demand softened. EFA support and MSO limitations The approval comes as Ampol has been drawn into Australia's broader fuel security response following the outbreak of the US-Iran war in late February. Government agency Export Finance Australia (EFA) first partnered with Ampol and Viva Energy in early April to underwrite spot-market fuel and crude oil purchases, enabling both refiners to secure cargoes that would otherwise be considered uncommercial due to volatile prices and high spot-market costs. Under the scheme, the government retains the ability to prioritise regions facing tighter supply. EFA has since expanded beyond Ampol and Viva Energy to include smaller, regionally focused operators IOR and Park Fuels. At the same time, Australia's minimum stockholding obligation (MSO) framework has not addressed access to fuel in regional areas. The MSO, which compels major importers to hold fuel stocks based on typical daily consumption, covers a limited group of large companies and does not extend to independent wholesalers that supply rural transport and farm businesses. These wholesalers have reported being unable to secure uncontracted supplies that are usually accessible, following the onset of the US-Iran conflict. By Lawrence Wen and Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan’s petchem supply to last beyond fiscal year: PM
Japan’s petchem supply to last beyond fiscal year: PM
Tokyo, 3 June (Argus) — Japan can maintain supply of its petroleum products, including naphtha-derived chemical products, beyond the current fiscal year that ends in March 2027, prime minister Sanae Takaichi said on 2 June. Takaichi had already declared that Japan can secure stable oil supply beyond March 2027 , but supply of naphtha-derived products had previously been secured only through to the end of this year. Her latest statement extends that outlook. The outlook reflects the ongoing recovery in Japan's naphtha procurement, which has currently risen to around 85pc of normal levels, supported by both domestic refining and alternative imports from regions outside the Middle East. Japan has also boosted imports of intermediates, which has helped limit drawdowns of intermediate stocks in April, Takaichi said. Manufacturers of midstream products such as polyethylene, as well as downstream products — including paints and thinners, polyvinyl chloride (PVC) pipes and insulation materials — have reported that their supply performance up until April has been at the same level as or higher than in the previous year, Takaichi said, adding that they also expect to continue supply going forward. But inventories in the supply chain for paints and thinners remain relatively low. In response, in addition to petrochemical firms' supply and trading firms' imports, refiners will directly supply feedstocks such as toluene and xylene to paint and thinner manufacturers, enabling supply of up to 1.8 times the usual level of demand, according to the government. This arrangement follows domestic distribution bottlenecks for paints and thinners. Because of disruptions to shipments from the Middle East stemming from the US-Iran war, Japan's naphtha imports fell to 710,000t in April , down by 46pc from a year earlier, based on preliminary finance ministry data. Imports in May and June are expected to exceed the April level, supported by efforts to increase alternative imports from the US and other regions outside the Middle East. By Kohei Yamamoto Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
LPG World editorial: The crown prince
LPG World editorial: The crown prince
Government backing and growing global interest are set to propel Canada's Prince Rupert into an increasingly important regional LPG hub London, 2 June (Argus) — The Canadian NGL industry's landmark investment in a new rail terminal to facilitate deliveries to Prince Rupert for seaborne export demonstrates its commitment, with government support, to turning the port into a global LPG export hub. The small port city on the British Columbia coast is already home to AltaGas' 92,000 b/d (2.7mn t/yr) Ridley Island propane export terminal (Ripet) and Pembina's 25,000 b/d LPG facility. Ripet will be joined by AltaGas' adjacent Ridley Island energy export facility (Reef) when it opens late this year. Reef will start with 55,000 b/d of capacity, with plans to expand this to 80,000 b/d by 2027 and potentially to 140,000 b/d in the following years, the company said in November. A third terminal within a metaphorical stone's throw of Ripet and Reef could emerge if coal exporter Trigon wins a court case against Prince Rupert Port Authority (PRPA) over its right to operate a planned LPG terminal. PRPA ruled in 2023 that AltaGas and Vopak have time-limited exclusive rights. Trigon is advancing plans for a C$750mn ($549mn) partial conversion of its 18mn t/yr coal terminal into a 2.5mn t/yr LPG export facility. "We are excited about our project and confident in our legal case — we know the [Pacific] coast can support multiple terminals for LPG export growth," Trigon said in mid-2025. Several factors are underpinning Prince Rupert's emergence as a hub. Upstream activity in the Montney shale region of Alberta and British Columbia continues to yield more NGLs , while new gas processing plants and NGL fractionators are boosting supply amid stagnating domestic demand. The wider push to develop LNG exports from the Pacific coast is further catalysing this growth and opening NGL infrastructure opportunities . Ottawa's pivot to export diversification after last year's rupture in US trade relations is also adding momentum. The government launched its Major Projects Office in 2025 to fast-track export projects , and has more recently proposed new regulations and cuts to red tape to expedite infrastructure investment. US president Donald Trump's trade tariffs are also cultivating interest from Asian importers. The US-China trade war has effectively cut off most LPG trade between the two states, prompting Japanese importers to swap their Canadian purchases for US supplies with Chinese buyers. China now receives the large majority of Canadian LPG exports, and importers are keen to do more of this business. Signature Toone Canadian prime minister Mark Carney visited Beijing to sign eight initial agreements with China in early 2026, including a commitment to increase LPG trade. "Right now, LPG is probably the easiest way to get energy over there… we think LPG is a long-term fuel for China," AltaGas' midstream vice-president Randy Toone said at the time. AltaGas at the time signalled its intent to sign LPG term contracts with Chinese customers after receiving "a lot of interest". It is installing a methanol removal unit at Ripet this year so that its propane is viable for China's PDH plants. The Iran war is providing further impetus. The loss of Mideast Gulf LPG leaves Canada as an attractive alternative for Asian importers looking to reduce dependence on the region. India and Canada in March announced plans to finalise a trade deal this year that would "more than double" two-way trade to C$70bn a year by 2030 . The war is also driving petrochemical industry interest in ethane feedstock . Canadian ethane exports are enticing but face steeper infrastructure barriers , although the industry is hopeful these can be overcome in the coming years. Prince Rupert's emergence as an increasingly important regional LPG hub looks all but assured. Depending on the scale of future flows, it could help ease some of the pressure on the US Gulf coast and the Panama Canal in the years ahead. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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