Poland's 210,000 b/d Gdansk refinery is increasing production after completing scheduled maintenance earlier this month. Most of the units taken off line for between late February and early April have restarted, as planned, operator Rafineria Gdanska said on 7 April. Maintenance was conducted on crude and vacuum distillation units, a diesel hydrotreater, the MHC mild hydrocracker, a reformer, the jet fuel Merox and hydrogen generation units, and two sulphur recovery units. A second phase of planned maintenance at Gdansk takes the refinery's three base oil units off line from 8 April until mid-May. Rafineria Gdanska is a joint venture of state-controlled Orlen with 70pc and state-controlled Saudi Aramco holding 30pc. Orlen is planning maintenance on a hydrocracker at its 373,000 b/d Plock refinery in Poland from 13 May until 24 June. The Polish company's 63,000 b/d Kralupy refinery in the Czech Republic has been shut down for scheduled maintenance since mid-March and should restart in early May. Orlen's 190,000 b/d Mazeikiai refinery in Lithuania was off line for 30 days of planned maintenance last month.
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No clear timeline for Brazil fossil fuel phase out
No clear timeline for Brazil fossil fuel phase out
Santa Marta, 28 April (Argus) — Brazil has no set timeline to publish its roadmap to phase out fossil fuels, the environment ministry's secretary for climate change Aloisio de Melo told Argus . Brazilian president Luiz Inacio Lula da Silva on 8 December asked the energy, environment and finance ministries to draft a resolution by February mapping out the phase-out of fossil fuels. That had followed Lula's previous calls to create an international plan to move away from fossil fuels during a leaders' summit only a few days before the UN Cop 30 climate summit held in November in Brazil. But the call did not make it to the summit's final decision despite backing´ from over 80 countries . Instead, the Cop 30 presidency pledged to create a roadmap on the issue outside of official negotiations. But the Brazilian ministries never published the resolution requested by Lula. Instead, the plan has been submitted to the national energy policy council, which will be responsible for developing it, de Melo said in the sidelines of the First Conference on the Transitioning Away from Fossil Fuels , being held in Santa Marta, Colombia, from 24-29 April. The process to draft Brazil's roadmap has many moving parts and will "involve a lot of dialogue", de Melo said. "It's a process and we're not simplifying the approach," he said. "It's not just a matter of having big long-term goals, but of having a real trajectory with clear milestones, instruments, means and so on," which is "much more complex", he he said. One of the discussions surrounding the roadmap is its timeline, de Melo said, adding that the process "will take quite a bit of time" because it needs to have "a strong, solid institutional base that truly integrates with Brazil's energy planning". "It's not about having a document with some grand speeches and messages, but something that is actually consistent, solid and guiding over time and that transcends presidential administrations", he said. Phasing out fossil fuels could run counter to Brazil's plans of increasing crude production. It produces around 4mn b/d of crude , making it one of the 10 largest producers globally, according to its hydrocarbon regulator ANP. The country plans to expand crude output to 5.3mn b/d by 2030, according to energy research bureau Epe, hinging on new exploratory frontiers such as the southern Pelotas basin and the environmentally sensitive equatorial margin. But the production goals and the roadmap can coexist, de Melo said. The plan will focus on some decarbonization solutions that are "more or less ready and actionable" such as biofuels, he said. "But there are other solutions that are in the development and finalization phase." Additionally, Brazil's planned production growth will not take place in the short term, he said. So there is time to see how fossil fuels, mainly for transportation, will be used in a cleaner energy matrix over time. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
High jet prices could support European gasoline demand
High jet prices could support European gasoline demand
London, 28 April (Argus) — High jet fuel prices and reduced flight schedules could support European gasoline demand this summer as some consumers opt to drive rather than fly for leisure travel, market sources said. The price of jet fuel cargoes delivered to northwest Europe has soared since the US-Iran war began on 28 February, tightening supply to a region where demand exceeds local production capacity. Europe relies on the Mideast Gulf for around half of its jet fuel imports, according to Kpler. Delivered jet fuel cargo prices have averaged around $1,557/t since the conflict began, about 90pc above the five-year average for the period. Gasoline prices have also risen but to a much lesser extent, averaging about $967.75/t on a fob Amsterdam-Rotterdam-Antwerp basis, roughly 20pc above the five-year average. Europe is structurally long on gasoline and has not faced supply stress during the conflict so far. Since the war began, jet fuel prices have traded at a premium of around 61pc to gasoline benchmarks, compared with near-parity over the past five years, Argus assessments show. That widening price gap, combined with tighter flight availability, could begin to influence travel choices. While higher airfares alone may not deter consumers, cuts to short-haul flight schedules could prompt more people to seek alternatives to flying abroad this summer. "If short-haul flights continue getting cancelled, people are likely to drive to holiday destinations," one analyst told Argus . Another analyst pointed to fuel duty cuts across parts of Europe as an additional factor that will support gasoline demand. German consumers are delaying road fuel purchases until May to benefit from a temporary energy tax exemption , traders said. Smaller European economies including Sweden and Poland are also cutting fuel duties, while larger markets such as the UK and France have yet to introduce similar measures. "The weather is getting better and people will travel less and less by plane," one gasoline trader said, adding that European gasoline demand "looks ok" compared with east of Suez. By contrast, Asia-Pacific markets have seen sharper demand destruction because of greater exposure to crude and refined product supply from the Mideast Gulf, which remains severely restricted by Iran's effective blockade of the strait of Hormuz. European gasoline demand typically rises seasonally as peak summer approaches. This is usually reflected in the gasoline forward curve, where a contango structure implies strengthening time spreads through spring and summer. But the conflict has flipped the curve into backwardation, signalling stronger prompt market fundamentals. That tighter prompt balance is reflected in active physical trading, with at least 16 benchmark non-oxy gasoline barges exchanged this week and at least 60 oxy barges reported traded. Jet market liquidity, however, remains thin by comparison, while trading activity in physical spot windows has also quietened in recent weeks. "Just a couple of things have been trading," a broker said, potentially reflecting elevated jet fuel prices. Bid-offer spreads in paper markets remain at around $10/t, far wider than the typical 25¢-$1/t range, which may be discouraging counterparties from trading at workable levels. By George Maher-Bonnett Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UAE to exit Opec: Update
UAE to exit Opec: Update
adds details throughout Dubai, 28 April (Argus) — The UAE said it will withdraw from Opec and the wider Opec+ alliance from 1 May, marking a major shift in its oil policy. The decision follows a review of production strategy and capacity plans. The UAE said it wants greater freedom to respond to global oil demand in line with its national interest. The move comes during heightened energy market volatility, caused by disruption to shipping through the strait of Hormuz that has constrained Mideast Gulf oil and gas exports and reshaped supply flows. The UAE said exiting Opec+ will allow it to better align its crude output with market conditions. The UAE has been a member of Opec since 1967, through Abu Dhabi, and remained part of the group following the country's establishment in 1971. Its departure represents one of the most consequential changes to the oil producer group in decades. Abu Dhabi has expanded crude production capacity in recent years and pushed for higher output baselines under Opec+ quota frameworks, reflecting its aim to monetise reserves and capture market share. State-controlled Adnoc aims to raise crude production capacity to 5mn b/d by 2027 , with its most recent guidance, in May 2024, putting capacity at 4.85mn b/d. Leaving the alliance removes formal quota constraints, allowing the UAE to raise production more freely, albeit gradually and in line with demand. The UAE said it will continue to prioritise supply stability, cost competitiveness and sustainability, while investing across oil, gas, renewables and lower-carbon technologies. Adnoc chief executive Sultan al-Jaber said the exit is a "sovereign decision" aligned with the country's long-term energy strategy, production capacity and national interest, and that the UAE would maintain a focus on global market stability. Adnoc's strategy focuses on meeting global energy demand "with reliability and responsibility", he said, adding that partnerships and credibility would still be key to its approach. "The decision is not intended to signal a break with the market, nor to trigger an immediate supply response," a source with knowledge of the matter said. Abu Dhabi's emphasis is on flexibility as global demand patterns shift and geopolitical tensions linked to the Iran war add volatility to markets, the source said. "There is no plan to flood the market," the source added, saying any increase in crude output would be gradual and timed to market conditions. In the near term, the move is unlikely to materially alter supply flows. Production across the Gulf remains constrained by disruptions around the strait of Hormuz, which are limiting export capacity regardless of Opec+ quota structures. The UAE can bypass Hormuz using the 1.5mn b/d Adcop pipeline, but it is still producing at a fraction of pre-war levels. Crude output last month was just over 1.9mn b/d, down from 3.53mn b/d in February, according to Argus estimates. March output was more than 1.5mn b/d short of the UAE's Opec+ target for the month. But the rationale in Abu Dhabi is forward-looking. "Once flows normalise, the UAE wants the ability to raise output without restrictions and respond directly to market needs," the source said. From the UAE's perspective, this would allow it to add supply into a tight market when required, positioning it as a stabilising supplier with spare capacity. Over time, greater flexibility could translate into additional supply reaching the market, with potential implications for prices if higher volumes are sustained. By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UAE to exit Opec, pursue independent output policy
UAE to exit Opec, pursue independent output policy
Dubai, 28 April (Argus) — The UAE will withdraw from Opec and the wider Opec+ alliance from 1 May, marking a major shift in its oil policy, the state news agency WAM said today. The decision follows a review of the country's production strategy and capacity outlook, with the UAE citing national interest and a need to respond more effectively to global oil demand. The move comes at a time of heightened volatility in energy markets, driven by disruptions to shipping in the strait of Hormuz that have constrained oil and gas exports and reshaped supply flows. The UAE said the policy shift would allow it to better align its output with market conditions while maintaining its position as a "responsible and reliable" supplier. The UAE has been a member of Opec since 1967, through Abu Dhabi, and remained part of the organisation following the UAE's establishment in 1971. Its exit represents one of the most consequential changes to the producer group in decades. Abu Dhabi has expanded crude production capacity in recent years and has sought higher baselines under Opec+ quota frameworks, reflecting its ambition to monetise reserves and capture market share. Leaving the alliance will remove formal output constraints, allowing the UAE to raise production more freely, albeit gradually and in line with demand. The UAE said it will continue to prioritise supply stability, cost competitiveness and sustainability, while investing across the energy value chain, including oil, gas, renewables and lower-carbon technologies. By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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