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Fire hits Kuwait's Mina al-Ahmadi refinery: Update

  • Market: Crude oil, Fertilizers, Natural gas, Oil products
  • 14/01/22

Adds details of deaths, injuries in third paragraph

Kuwait's state-owned refiner KNPC said a fire broke out a "short while ago" at its 346,000 b/d Mina al-Ahmadi refinery.

The fire started during routine maintenance at the No.32 gas liquefaction unit at the refinery. The company has activated an emergency plan, and firefighters are dealing with the blaze. Production and export operations have not been affected, KNPC said, given that the unit was out of service when the fire broke out.

Two contractor workers died in the fire, with 10 workers injured, five of them critically, KNPC said.

The refinery is expected to ramp up to a sulphur production capacity of 1.15mn t/yr this year, with the Mina al-Ahmadi port being the main sulphur export hub for the country.

Argus expects Kuwait's sulphur exports to double to 1.2mn t in 2022, after full operations began at KNPC's Clean Fuels Project in September last year.

By Maria Mosquera

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News
18/12/25

Ithaca first to try new UK North Sea regime

Ithaca first to try new UK North Sea regime

London, 18 December (Argus) — UK-listed upstream producer Ithaca Energy has begun the approval process for a development in the North Sea, the first since the government softened its approach to the region. Ithaca has submitted a development summary and environmental statement for the Fotla field to the offshore regulator Opred. It outlines a two-well tie-back to the Britannia platform, which processes liquids from the Greater Britannia Area, including Ithaca's Alder field. Ithaca indicates that if the process is successful, drilling will begin in the first half of 2027, with first oil in the final quarter of that year. This is the first submission of an offshore proposal since the UK government published its 'North Sea Future Plan' alongside its budget in late November. That enables "limited oil and gas production in areas that are already part of an existing field, or in areas adjacent to already licensed fields, linked via a tieback, to help ensure they remain economically viable". Developers are not permitted to explore for oil and gas at these sites, and a ban remains on new oil and gas licensing. London's stance on North Sea development has delayed the Rosebank project, in which Ithaca holds a 20pc stake, and the company's west of Shetland Cambo project. Ithaca expects its production to average 119,000-125,000 b/d of oil equivalent (boe/d) this year. By Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Indian local urea sales on track for record in December

18/12/25
News
18/12/25

Indian local urea sales on track for record in December

Amsterdam, 18 December (Argus) — Indian urea sales to end-users could reach close to 6mn t this month, which would set a fresh record for offtake in any month. It has been a strong start to sales so far in December, in what typically marks the peak consumption month for the winter rabi season. Domestic urea production is relatively stable at the equivalent of 2.6mn t/month, latest provisional data indicate. Urea sales were 5.2mn t in December 2024. The highest amount sold in any month on record was 5.4mn t in July this year . The country's urea stocks were around 6.3mn t in mid-December, down from 7.1mn t at the start of the month , the data show. The strong sales figures this month are likely to be the key driver behind Indian importer and supplier NFL's earlier-than-expected tender issuance on Tuesday , closing on 2 January and seeking 1.5mn t of urea for shipment up to 20 February. India is typically the largest urea importer, and its regular state-backed tenders are closely watched in the international urea market. The country has bought 9.23mn t of urea this calendar year through tenders. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Viewpoint: Japan's hybrid EV use keeps gasoline in mix

18/12/25
News
18/12/25

Viewpoint: Japan's hybrid EV use keeps gasoline in mix

Tokyo, 18 December (Argus) — Japan's gasoline consumption will continue falling because of its decarbonisation drive, but the country's gasoline consumption is unlikely to reach zero as gasoline-powered cars and hybrid gasoline-electric vehicles (HEVs) account for a vast majority of newly registered passenger cars. Japan's gasoline sales declined at least over 2016-24, with the exception of a slight year-on-year increase of 0.03pc in 2022, data from the Petroleum Association of Japan (PAJ) show. The country's gasoline sales totalled 330mn bl (904,100 b/d) in 2016, falling to below 280mn bl (767,100 b/d) in 2024. The country's transport sector accounted for 19.2pc of total CO2 emissions in the April 2023-March 2024 fiscal year, according to Japan's environment ministry. Half of the transport sector's CO2 emissions came from gasoline in the 2023-24 fiscal year. Tokyo renewed its global warming countermeasures plan in February 2025, which reiterated its target of having all new car sales be "electrified vehicles" by 2035 and to achieve net-zero CO2 emissions through the vehicle lifecycle by 2050, in efforts to abate emissions. But these "electrified vehicles" do not only refer to fully electric-powered EVs nor fuel cell vehicles (FCVs) but also include gasoline-consuming HEVs and plug-in hybrid electric vehicles (PHEVs). This means that Japanese passenger car owners will likely remain dependent on gasoline, even as gasoline consumption declines, given that Japan's preference for hybrids is likely to sustain its momentum for the foreseeable future. The country's gasoline requirement will fall by 2.4pc to 260mn bl (712,300 b/d) in the April 2026-March 2027 fiscal year, compared with the 2025-26 level, based on Japan's trade and industry ministry Meti's outlook. This downtrend is expected to continue by declines of 2.1-2.5 pc/yr at least until 2029-30, largely because of higher fuel efficiency and wider use of HEVs, Meti said. The number of newly registered passenger cars, including imported cars, totalled slightly below 2.4mn units over January-November 2025, data from the Japan Automobile Dealers Association (JADA) show. Out of this total, gasoline-consuming HEVs accounted for 60pc, and gasoline cars hold a 32pc share. Gasoline-powered cars and HEVs have jointly accounted for around 90pc at least since 2020. The share of HEVs in newly registered cars has also grown consistently every year, from 37.1pc in 2020 to 61.1pc in 2024, mostly replacing the share of gasoline cars, while the share of EVs has stalled at 0.6-1.7pc of the total of registered units every year over the same period, data from the JADA show. "The hybrid trend is likely to remain strong going forward. Compared with the time when it seemed the global shift to EVs would happen decisively and rapidly, the momentum now appears to have slowed somewhat," Japan's trade and industry minister Ryosei Akazawa said at an interview with reporters, including Argus , in October. The shift towards EVs has not been as strong as expected, which could have benefited gasoline car makers. But US tariffs on Japanese automobiles likely eroded the profitability of Japanese automakers, with 15pc of their domestic car output exported to the US in 2024, according to Meti. The US tariff rate was lowered to 15pc from 27.5pc in September, but is still far higher than 2.5pc, the rate before US president Donald Trump's additional 25pc automobile tariff took effect in April. To support Japanese automakers given the challenging tariff environment, Tokyo could freeze its environmental performance tax — a levy of 0-3pc — imposed on car owners at the point of acquisition depending on automobile features, such as fuel efficiency. This move could pave the way for gasoline-powered vehicles to regain momentum or pose obstacles to the expansion of EV cars' market share in the coming years. By Kohei Yamamoto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

BP appoints Woodside’s O’Neill as next CEO

17/12/25
News
17/12/25

BP appoints Woodside’s O’Neill as next CEO

New York, 17 December (Argus) — BP appointed Woodside Energy chief executive officer Meg O'Neill as its next chief executive effective from next April. O'Neill will replace Murray Auchincloss, who has decided to step down on 18 December after more than three decades with the London-based oil major. O'Neill transformed Woodside into the biggest energy company listed on the Australian Securities Exchange after taking over as chief executive in 2021, according to BP. While at Woodside, she also oversaw the acquisition of BHP Petroleum International. O'Neill also spent more than two decades at ExxonMobil earlier in her career. "Her proven track record of driving transformation, growth, and disciplined capital allocation makes her the right leader for BP," said Albert Manifold, chairman of the company's board of directors. Carol Howle, executive vice president, supply, trading & shipping of BP, will serve as interim chief executive until O'Neill takes over. Auchincloss will also serve in an advisory role until December 2026 to ensure a smooth transition. BP scaled back ambitious low-carbon goals earlier this year with Auchincloss conceding that the company had been "optimistic for a fast [energy] transition but that optimism was misplaced." The company raised its 2030 target for oil and gas production as part of a "fundamental reset" of strategy that also entailed a cut in renewable energy investments. O'Neill's appointment follows a search process overseen by the board, with the help of an independent recruitment firm, as part of the company's long-term succession planning. By Stephen Cunningham Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Trump doubles down on Venezuela oil threat

17/12/25
News
17/12/25

Trump doubles down on Venezuela oil threat

Washington, 17 December (Argus) — President Donald Trump on Wednesday doubled down on his threat to blockade Venezuelan oil shipments unless Caracas offers compensation for oil assets expropriated years ago. Democratic lawmakers on the same day forced the House of Representatives to schedule a vote on resolutions that would prohibit Trump from using military force against Venezuela without explicit authorization from Congress. "They took all of our oil from not that long ago, and we want it back," Trump told reporters on Thursday. "They illegally took it." Trump's domestic policy adviser Stephen Miller on Wednesday said that "American sweat, ingenuity and toil created the oil industry in Venezuela". Venezuela nationalized its oil industry in 1976, only to partially reverse course in the 1990s by inviting US and other foreign oil companies to participate in joint ventures with state-owned PdV. Former Venezuelan president Hugo Chavez in 2007 ordered PdV to change the business terms of operations in joint ventures. Chevron and some European companies accepted these terms. ExxonMobil and ConocoPhillips did not, eventually winning awards in international tribunals and US courts for the expropriation of their assets in Venezuela. ConocoPhillips holds the largest claim for expropriated assets, at $12bn. That claim is about to be partially satisfied as a US court has ordered the auction of PdV-owned US refining company Citgo. It was not clear what prompted the change in the stated rationale of the US campaign of pressure against Venezuelan president Nicolas Maduro. Trump and US officials until this week described the campaign in terms of curbing the seaborne flow of drugs and putting an end to migration from Venezuela, even though Trump previously mentioned possibly pushing for regime change in Caracas. Trump in a social media post on Tuesday night declared a blockade of most Venezuelan seaborne oil shipments. "We're not gonna let anybody going through that shouldn't be going through," Trump said on Wednesday. The Maduro government denounced Trump's threat and appealed to the UN. It is not clear if Caracas can counteract the blockade. Venezuelan oil flows to Cuba already have stopped and cargoes to other destinations were grinding to a halt, following the 10 December seizure of a Cuba-bound Venezuelan oil tanker by the US Coast Guard. US House debate The House of Representatives later on Wednesday will vote on two separate resolutions to prohibit the use of US military force against Venezuela without congressional approval. Debate on the House floor Tuesday afternoon showed a division largely along partisan lines, indicating the resolutions are unlikely to pass. Republican lawmakers pushed back against the resolution, casting the US operation as an extension of the administration's domestic counter-narcotics efforts — a line the White House had advanced until Wednesday. "Congressional authorization is not required to carry out precise, limited strikes," House Foreign Affairs Committee chairman Brian Mast (R-FLorida) said. "My colleagues did not object when prior presidents conducted military operations in Yemen, in Libya, and Syria," Mast said. The US military operation near Venezuela "isn't about drugs — it's about regime change, and it's about oil," said congressman Gregory Meeks (D-New York), who sponsored one of the resolutions. "Trump is provoking a new war right in our backyard and threatening to destabilize an entire region", Meeks said. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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