Vertex plans Mobile refinery turnaround in March

Market: Biofuels, Crude oil, Oil products
28/02/24

Specialty refiner Vertex Energy is planning a turnaround at its 88,000 b/d Mobile, Alabama, refinery in March as it prepares to run at full rates during the driving season.

The turnaround includes a catalyst change for the plant's catalytic reforming unit and maintenance on its crude distillation unit (CDU), the company said on an earnings call today.

Vertex did not give a time line for the work but said it aims to run the refinery at full rates by peak summer demand season, which starts on Memorial Day weekend in late May.

The company plans to run throughputs of 60,000-63,000 b/d at the Mobile plant's conventional fuel refining operations in the first quarter and run its renewable diesel units at 3,000-5,000 b/d.

Vertex processed 71,000 b/d at the Mobile refinery in the first quarter of 2023, prior to starting the plant's renewable feedstock units.

By Nathan Risser

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12/06/25

Malaysia’s oil, gas projects to emit 4bn t GHG: CREA

Singapore, 12 June (Argus) — Malaysia's continued extraction and use of its oil and gas resources could emit around 4bn t of greenhouse gases (GHGs), according to a report by the Helsinki-based Centre for Research on Energy and Clean Air (CREA). Malaysia holds about 9.84bn bl of oil equivalent (boe) in committed fossil fuel reserves, of which 82pc is gas, stated the report, which was written in collaboration with environmental think-tank RimbaWatch. This figure only includes projects with proven reserves that are covered by a production commitment such as production sharing contracts. These committed reserves would also emit an estimated 4.15bn t of CO2 equivalent (CO2e), which is equivalent to 13 years of Malaysia's annual emissions. The emissions will also consist of 10.9mn t of methane, which is a much more potent GHG than CO2. Malaysia's remaining commercially recoverable reserves are estimated at over 17bn boe over more than 400 fields, with gas comprising about 75pc of this. Malaysia launched its national energy transition roadmap (NETR) in 2023, detailing initiatives to achieve its 2050 net zero carbon emissions target, such as renewable energy development, hydrogen and carbon capture, utilisation and storage (CCUS). The country aims to reduce its economy-wide carbon emissions by 45pc in 2030 compared with 2005 levels, under its nationally determined contribution — climate plan — to meet the goal of the Paris Agreement. But at the same time, the country is seeking to maximise its fossil fuel production to ensure energy security. State-owned Petronas raised its total oil and gas production in 2024 to 2.4mn b/d of oil equivalent (boe/d), up by 1pc on the year. Of this, oil production fell by 4.4pc on the year to 813,000 boe/d, while gas output rose by 3.6pc to 1.64mn boe/d. More than 80pc of Malaysia's power was generated from fossil fuels in 2024. The NETR plans to increase the share of gas in total primary energy supply by 16pc from 2023 to 57pc in 2050, with gas viewed as a transition fuel for decarbonisation. But "referring to gas as sustainable, and claiming that Malaysia can achieve net-zero emissions through growing gas, are oxymorons," stated the report. Petronas' Scope 1 and 2 greenhouse gas emissions totalled 46.04mn t of CO2e across its Malaysian operations in 2024, surpassing its target of 49.5mn t of CO2e for the year. In comparison, the firm recorded 45.6mn t of Scope 1 and 2 GHG emissions in 2023. But the firm's net zero pathway excludes its Scope 3 emissions, which make up about 80pc of a fossil fuel entity's emissions, according to the report. Additionally, its CCUS plans are aimed at enabling sour gas extraction, hence exacerbating fossil fuel production and emissions. Malaysia should instead set a sectoral carbon budget for the domestic energy sector in line with its net zero goals, taking into account both production and consumption, and cement this budget in the country's upcoming Climate Change bill, stated the report. By Prethika Nair Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Mexico’s ASA to play key role in SAF expansion

10/06/25

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10/06/25

Mexico’s ASA to play key role in SAF expansion

Mexico City, 10 June (Argus) — State-owned Airports and Auxiliary Services (ASA) will take a central role in developing Mexico's still nascent sustainable aviation fuel (SAF) market, with fuel availability becoming one of its top priorities, officials said today. ASA remains the country's main jet fuel supplier, serving 52 airports and covering over 90pc of the domestic market, infrastructure, communications and transportation minister Jesus Esteva said. Speaking at an event marking ASA's 60th anniversary, Esteva said the implementation of SAF is "one of the biggest challenges" the government faces in the aviation sector, and that ASA must lead efforts to expand supply. "ASA aims to boost the use of clean energy, leading the sustainable transition for Mexico's aviation sector through the development and ongoing implementation of SAF," said ASA director Carlos Merino. The initiative seeks to reduce aviation's carbon footprint while maintaining service quality and efficiency, he added. ASA announced last year the launch of a pilot project to blend imported SAF with conventional jet fuel, with a long-term goal of producing SAF entirely in Mexico by 2030. For now, imports — most likely from the US — remain necessary. Mexico is participating in the International Civil Aviation Organization's (ICAO) Corsia scheme, which aims to reduce greenhouse gas emissions from international flights. Corsia includes a voluntary phase from 2024-2026, followed by mandatory targets from 2027-2035. Under the scheme, airlines must either use SAF or offset emissions by purchasing carbon credits, with exemptions for underdeveloped countries and those with minimal global air traffic. Sustainability will become increasingly important as Mexico's aviation sector grows, said Miguel Vallin, head of the federal civil aviation agency AFAC. Passenger traffic is projected to rise from 124mn in 2025 to 151mn in 2030 — an average annual increase of 3.3pc. ASA operates 52 jet fuel storage terminals across Mexico, with annual sales of around 5.4bn l (93,000 b/d), Esteva said. The government holds a monopoly over Mexico's jet fuel market, with ASA and state-owned Pemex supplying most of the market, with indirect participation of other companies. Jet fuel was the last oil product market opened to more competition in Mexico after constitutional changes in 2014, but progress stalled under the administration of former president Andres Manuel Lopez Obrador. Under President Claudia Sheinbaum, the government has kept the jet fuel market under close state oversight. By Cas Biekmann Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Brazil inflation eases to 5.32pc in May

10/06/25

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10/06/25

Brazil inflation eases to 5.32pc in May

Sao Paulo, 10 June (Argus) — Brazil's inflation slowed to an annual 5.32pc in May, snapping a three-month upswing since February, according to government statistics agency IBGE. The country's annualized inflation slowed from 5.53pc in April but was up from 4.56pc in January. Shelter costs, which include utilities, posted the largest gain in May, rising to an annual 4.53pc from 4pc in April. The acceleration took place thanks to a federal increase in power tariffs last month because of dry weather hampering hydroelectric power generation, which is Brazil's main power source. Transportation costs decelerated to 4.64pc in May from 5.49pc in April, in part driven by an annualized 13.16pc contraction in airplane tickets. Motor fuels also decelerated to 7.95pc in May from a 9.23pc gain in the month prior. Gasoline, ethanol, diesel and compressed natural gas (CNG) prices all fell in May, following some readjustments by state-controlled Petrobras . Food and beverage costs slowed to an annual 7.33pc in May from 7.81pc in April. Soybean oil prices eased to 21.1pc from 22.83pc. Brazil's monthly inflation slowed to 0.26pc in May from 0.43pc in April. That is the third monthly decline and the lowest rate since January. The country's decelerating inflation is partially thanks to the central bank's course of tightening, hiking its target rate to 14.75pc in early May. That was the sixth increase in a row since September, aimed at cooling the economy and boosting the real currency following sharp depreciation last year. By Maria Frazatto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Partners to build NH3 bunkering in Australia’s Pilbara

10/06/25

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10/06/25

Partners to build NH3 bunkering in Australia’s Pilbara

Sydney, 10 June (Argus) — Australia-based blue ammonia firm NH3 Clean Energy and marine fuels company Oceania Marine Energy have signed an initial agreement with Australian port authority Pilbara Ports to develop low-emissions ammonia bunkering at the port of Dampier in Western Australia (WA). The partners aim to establish ammonia bunkering to service iron ore carriers at Dampier by 2030, NH3 Clean Energy said today. PPA is the world's largest bulk handling authority, shipping 750mn t/yr of commodities. NH3 Clean Energy is developing the WAH-2 blue ammonia plant near the WA city of Karratha, for which it hopes to take a final investment decision for a 650,000 t/yr phase 1 in late 2026 . Privately owned Oceania is establishing a bunkering business that will use LNG and ammonia at Pilbara Ports sites, with operations set to begin in 2027 and 2028, respectively. Oceania plans to use ship-to-ship transfer to supply low-emissions fuels, and is working with Singapore maritime firm Seatech Solutions on a vessel with capacity for 10,000m³ NH3 parcels. About 300 bulk carriers service Pilbara Ports's iron ore trade. If just 16 of these operated on ammonia and bunkered in Australia, 600,000 t/yr of ammonia would be required — more than 90pc of WAH-2 's phase 1 output, NH3 Clean Energy said. WA could become a world leader in lower-emissions shipping, the firm said, referencing recently adopted International Maritime Organisation (IMO) emissions limits and carbon pricing . The IMO's plan has disappointed some hydrogen industry associations and environmental groups , which claim hydrogen-based bunkering fuels will remain at a disadvantage to biofuels and LNG under the agreement. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Mexico inflation quickens in May

09/06/25

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09/06/25

Mexico inflation quickens in May

Mexico City, 9 June (Argus) — Mexico's consumer price index (CPI) accelerated to an annual 4.42pc in May, with strong pressures on meat and egg prices and modest acceleration in core inflation. The index increased for a fourth consecutive month, accelerating from 3.93pc in April after reaching a four-year low of 3.59pc in January. The result from statistics agency Inegi came in above the 4.37pc median estimate of analysts polled in Citi Research's 5 June survey to reach the fastest inflation since November 2024. It also pushes CPI to above the central bank's long-term objective inflation range of between 2pc and 4pc. Nevertheless, the central bank has been clear in its communication that the rate-cutting cycle will continue, with a likely half-point cut in the target interest rate to 8pc at the next policy meeting on 26 June. Core inflation, which excludes volatile food and energy, reached an annual 4.06pc in May from 3.93pc in April, ending a run of eight consecutive months below the 4pc level. Within the core, consumer goods inflation rose to 3.67pc from 3.38pc the previous month. while services accelerated to 4.63pc from 4.56pc in April. Meanwhile, annual non-core inflation surged to 5.34pc in May from 3.76pc in April, largely tied to agricultural goods prices. Annual energy inflation in May reached 3.5pc with regular 87-octane gasoline inflation just 0.54pc, as prices remain capped at Ps24/l ($4.78/USG) under a voluntary price cap between fuel retailers and the government. Month-over-month, headline CPI rose by 0.28pc in May after a 0.33pc increase in April. Core prices were up by 0.30pc from 0.43pc from April, while non-core prices sped 1.24pc, driven by a 3.5pc month-over-month acceleration in meat and egg prices, as well as produce prices speeding 2.8pc from April. This more than offset the moderation in energy prices with a second tranche of seasonal subsidies starting in May, slowing electricity inflation 18pc monthly. Looking ahead, Mexican bank Banorte said it would continue to monitor inflationary pressures on eggs and poultry after a ban on the import of the products from Brazil, as well as the evolution of the screwworm outbreak in the south of the country and on the coming tropical cyclone season and its impacts on fruits and vegetables prices. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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