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Neste to supply renewable chemical feedstock to PCS

  • Market: Biofuels, Petrochemicals
  • 18/11/24

Finland's Neste will supply Singapore-based chemicals company PCS with renewable material feedstock for production of plastics.

The Neste RE material will be supplied to PCS for use at a site on Jurong Island, Singapore. Neste RE is based on waste products including used cooking oil (UCO) or waste residues from vegetable oil processing.

PCS produces ethylene, propylene and butadiene for consumers across Asia-Pacific. The first deliveries from PCS will include butadiene, the company said. Initial buyers include Mitsubishi, Toray Plastics in Malaysia and Synthomer.

Neste previously said beverage maker Suntory will produce PET bottles derived from bio-paraxylene converted from bio-naphtha by the Finnish refiner.


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08/07/25

French diesel, HVO customs data mislabelled: Eurostat

French diesel, HVO customs data mislabelled: Eurostat

Barcelona, 8 July (Argus) — French firms have mislabelled imports of 10ppm diesel as hydrotreated vegetable oil (HVO) this year, following confusion over new customs codes, EU data service Eurostat has said. The confusion has come about after the introduction of a new import-export (CN) code for HVO that took effect at the start of 2025. Some French data will be restated. A diesel code of 27101943 was discontinued at the end of 2024 and was replaced by 27101944. A new CN code 27101942 for HVO was introduced. HVO is produced by treating vegetable oil with hydrogen, counts against biodiesel blend mandates, but is molecularly separate from biodiesel output by esterification. When customs data for 2025 began to be published at the end of the first quarter, France appeared to be importing large amounts of HVO from Saudi Arabia and the US. Cargoes from the former amounted to around 255,000t in the first quarter. Saudi Arabia has no HVO production known by Argus , nor does it re-export cargoes. It is France's largest diesel supplier. There were also 140,000t labelled as HVO from the US in January-March. But because the EU has anti-dumping and countervailing duties on US HVO imports, shipments of this size appeared questionable. The US is the second biggest diesel supplier to France. The mislabelling has made French and EU HVO traffic difficult to track. It has distorted French diesel import data , which show imports have fallen sharply. Argus first questioned the numbers in March when initial 2025 customs data were released. These queries were rebuffed, but after a follow up in May Eurostat said French customs had "confirmed that there has been an input error". New data will be supplied by France at an unspecified time this year, it said. By Adam Porter Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Multilateralism should steer climate finance: Brics


07/07/25
News
07/07/25

Multilateralism should steer climate finance: Brics

Sao Paulo, 7 July (Argus) — Developed countries must fully engage in climate finance to support developing countries trying to meet Paris agreement goals, top Brazilian officials said at the Brics summit held in Rio de Janeiro on 6-7 July. "One decade after the Paris agreement, [the world] lacks resources for a fair and planned transition," Brazilian president Luiz Inacio Lula da Silva said. "Developing countries will be the most affected by losses and damages, while they are also the ones that have fewer ways to fund mitigation and adaptation," Lula da Silva said during his keynote address Monday. The Brics summit discussed climate finance in anticipation of the UN Cop 30 climate summit , which will be also be held Brazil, in November. The group issued a declaration that reinforced its commitment to uphold multilateralism as a solution for climate actions, while it also emphasized developed countries' responsibility towards developing countries to financially enable just transition pathways and sustainable development aligned with the Paris agreement. The Cop 29 summit in Baku, Azerbaijan, in November 2024 managed to reach an agreement to allocate $300bn/yr in resources for climate action. But delegates to the upcoming UN Cop 30 summit are targeting at least $1.3bn/yr in public and private funds to tackle climate change, focusing especially on countries that are already dealing with extreme weather conditions and lack financial resources to mitigate it. The Brics also announced a memorandum of understanding on the Brics Carbon Markets Partnership focused on capacity building and multinational cooperation to support climate strategies such as mitigation efforts and emergency resource mobilization. The declaration opposes unilateral protectionist measures, arguing that they "deliberately disrupt the global supply and production chains and distort competition." Climate justice, the fight against desertification, strengthened climate diplomacy and subsidies to environmental services were the main topics of discussion during the Brics summit, Brazil's environment minister Marina Silva said. Brazil will launch its own initiatives to promote climate finance in Cop 30. One program already launched is the Tropical Forest Forever Facility (TFFF) fund that aims to raise $125bn to preserve 1bn hectares of global tropical forests across 80 developing countries. Brics' development bank NDB will target 40pc of its investments to promote sustainable development, such as energy transition. The bank has approved $40bn in investments for clean energy, environment protection and water supply, it said last week. Brazil accounts for $6.4bn of total investments, gathering resources to 29 projects under climate actions, according to the institution. Brazil currently holds the presidency of the Brics, which also includes Russia, China, India and South Africa. Saudi Arabia, Egypt, UAE, Ethiopia, Indonesia and Iran are also members. Belarus, Bolivia, Kazakhstan, Thailand, Cuba, Uganda, Malaysia, Nigeria, Vietnam and Uzbekistan act as partner nations. Heated speech During his keynote address, Lula criticized the International Monetary Fund (IMF) as an institution that promotes unilateralism and stressed his support for reforming institutions of the UN to promote multilateralism and political equity for developing countries. He also mentioned that 65 of the biggest banks in the world committed to a $869bn investment to the fossil fuels sector last year. "Market incentives run contrary to sustainability," he said. By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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US to lay out tariff demands in coming days: Trump


04/07/25
News
04/07/25

US to lay out tariff demands in coming days: Trump

London, 4 July (Argus) — The US will lay out its tariff demands on foreign trade partners in the coming days, President Donald Trump said today. From tomorrow, 5 July, Trump will send letters to 10-12 countries a day, with the aim that all countries will be "fully covered" by 9 July, Trump said. That rate will not cover the amount of tariff deals still to be done by the US, which to date has struck three deals — of 10pc with the UK and China and of 20pc with Vietnam. "[The tariffs will] range in value from maybe 60pc or 70pc tariffs to 10pc and 20pc tariffs," Trump said. Countries will start paying them on 1 August, he said. Since 5 April Washington has been charging a 10pc extra tariff on imports — energy commodities and critical minerals are exceptions — from nearly every foreign trade partner, and those rates could go higher after 9 July. Trump has justified those tariffs by citing an economic emergency caused by allegedly unfair trade practices in foreign countries, and his administration is engaged in talks with foreign governments with the nominal goal of lowering their trade barriers. By Haik Gugarats and Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Japanese firms advance LCO2/methanol carrier project


03/07/25
News
03/07/25

Japanese firms advance LCO2/methanol carrier project

Tokyo, 3 July (Argus) — Japanese shipping firm Mitsui OSK Lines (Mol) and shipbuilder Mitsubishi Shipbuilding have made progress in developing an ocean-going liquified CO2 (LCO2) and methanol carrier, which would play a key role in establishing the country's carbon capture, utilisation and storage (CCUS) value chains. Mol and Mitsubishi have obtained approval in-principle (AiP) from Japanese classification society Class NK for their design concept of a LCO2/methanol carrier. The vessel would ship CO2 out of Japan and deliver CO2-based synthetic methanol (e-methanol) on return voyages to the resource-poor country, the companies announced on 30 June. The AiP certifies that the basic design of the vessel meets international regulation standards, such as technical requirements, as well as relevant safety restrictions covering the transportation of dangerous chemicals and liquefied gases in bulk. This is the world's first issuance of an AiP for a LCO2/methanol carrier, Class NK said. The approval is a major step forward for the companies, which hope to develop the vessel for commercialisation. The target date for its commissioning is still unclear. Mol expects the carrier to help meet Japan's growing demand for CO2 exports and e-methane imports with higher transport efficiency, unlike the use of a dedicated vessel for CO2 or methanol, which results in empty-cargo operation on half of the trips. E-methanol can be produced using CO2 and renewable hydrogen, which will contribute to decarbonising a variety of industries including the maritime shipping sector. Mol has previously invested in US synthetic fuel (e-fuel) producer HIF Global, while working with Japanese refiner Idemitsu and HIF subsidiaries HIF USA and HIF Asia Pacific to develop supply chains for synthetic fuel and e-methanol as well as CO2. HIF plans to produce around 4mn t/yr of e-methanol equivalent by 2030 at its production sites in Tasmania in Australia, Matagorda in the US, Magallanes in Chile and Paysandu in Uruguay by using green hydrogen and CO2, Mol has said. CCUS value chains would help fossil fuel-reliant Japan reduce its greenhouse gas (GHG) emissions by 60pc by the April 2035 to March 2036 fiscal year and by 73pc by 2040-41, against 2013-14 levels, before achieving the net-zero emissions by 2050. The Mol group, for its part, aims to reduce emissions intensity in transportation by 45pc against 2019 levels by 2035, as it works towards overall net-zero emissions by 2050. Japan's GHG emissions totalled 1.017bn t of CO2 in 2023-24 , down by 4.2pc from a year earlier to the lowest in 34 years, according to the country's environment ministry. This also reflected a 27pc decline against a 2013-14 baseline. By Japan Newsdesk Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Australia’s Licella aims for SAF project FID in 2026


03/07/25
News
03/07/25

Australia’s Licella aims for SAF project FID in 2026

Sydney, 3 July (Argus) — Australian technology developer Licella is aiming for a final investment design (FID) in the second half of 2026 for its proposed 60mn litres/yr (l/yr) biorefinery at the Isis sugar mill, 265km north of Queensland's state capital Brisbane. Project Swift has engaged contractors for engineering and site investigations after winning an A$8mn ($5.3mn) federal grant last year , a process expected to take 18–24 months and including detailed initial engineering ahead of an FID. The firm plans to use its own its Cat-HTR hydrothermal liquefaction technology for turning sugarcane waste, known as bagasse, into about 40mn l/yr of sustainable aviation fuel and other products. Licella has welcomed the Queensland government's recent announcement of a parliamentary inquiry into using sugarcane products for biofuel projects , saying clear, enabling policy will be needed to bring investment and opportunity to the state at scale. Queensland's biofuel output is largely produced by Singapore-listed Wilmar's Sarina biorefinery, which can make 60mn l/yr of ethanol using about 220,000 t/yr of molasses from the region's sugar mills. About two thirds of this is used in vehicle fuel, Wilmar has said. 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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