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Malaysia's PSP joins Shell’s carbon offset programme

  • Market: Emissions
  • 09/04/26

Malaysia-based PSP Energy Berhad has formalised its participation in Shell's Carbon Compensation Programme (CCP) 2026, under which lifecycle emissions associated with fuel purchases can be compensated through carbon credit retirement, the company said on 8 April.

Shell calculates well-to-wheel CO2 equivalent (CO2e) emissions, representing the total greenhouse gases produced from fuel extraction (well-to-tank) to consumption in a vehicle (tank-to-wheel), covering the entire lifecycle. It procures carbon credits from a portfolio of independently certified projects, primarily nature-based. The credits are retired annually, with certification issued to participating customers.

PSP Energy is active in commercial fuels, bunkering and lubricants, where fuel substitution options remain limited, it said. The company previously took part in Shell's programme, with 729 carbon credits retired in January 2024 against fuel purchases made in 2023.

Shell's CCP is positioned as a voluntary mechanism for managing unavoidable emissions and operates alongside fuel supply, without linking compensation to changes in fuel use or procurement volumes.

By Shribalaji Shenbagaraj

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09/04/26

UN, BB Energy partner on carbon finance in Africa

UN, BB Energy partner on carbon finance in Africa

London, 9 April (Argus) — The UN High Commissioner for Refugees has partnered with two consortia to develop clean cooking and reforestation projects in Africa as part of the Refugee Environmental Protection Fund, the first large-scale refugee-led carbon finance platform designed to mobilise voluntary carbon markets in displacement settings. Trading firm BB Energy will lead the development and management of two carbon initiatives in Rwanda and Uganda alongside carbon consultancy Hamerkop, non-profit organisation Fairventures and consultancy Innovest, it announced today. BB Energy will manage the clean cooking component in the Kigeme camp in Rwanda, distributing wood and charcoal-efficient stoves, as well as LPG stoves, it said. It will also lead project activities in the Bidibidi settlement in Uganda, it said. The company will pursue approval under the first phase of the Carbon Offsetting and Reduction Scheme for International Aviation (Corsia) in both countries and is already engaging with the government of Uganda, the firm's head of environmental projects Philip Hardwick told Argus . It is also eyeing the Integrity Council for the Voluntary Carbon Market's high-integrity Core Carbon Principles tag for its clean cooking credits, Hardwick said. Meanwhile, the reforestation credits will target "the kind of buyer that's got an interest to do a really meaningful, nature-based project with very high humanitarian impact", he said. "For us at this stage, it's about keeping our powder dry and retaining optionality on which roads we can go down in the future," he said. It will list its projects on different registries, with the forestry initiatives and the LPG component of the clean cookstove project to be submitted to Verra, and the rest of the clean cooking activities on Gold Standard. There is no clear estimate of the amount of credits to be issued yet. But the initial desired round of funding for the UN is $30mn of investments. Separately, a consortium with NGO Farm Africa, development charity Tree Aid and research centre World Agroforestry will lead activities in the Kyangwali settlement in Uganda and will co-lead reforestation activities at the Kigeme camp. By Alexandra Luca Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Brazil expects first CGOB issuance in May

07/04/26
News
07/04/26

Brazil expects first CGOB issuance in May

Sao Paulo, 7 April (Argus) — Brazil's hydrocarbon regulator ANP expects the first issuance of biomethane guarantee-of-origin certificates (CGOBs) to take place in May, a milestone that would trigger compliance obligations under the Fuel of the Future law. Speaking at a panel during the I-REC Day Brazil event in Sao Paulo on Tuesday, ANP director Maria Auxiliadora Nobre said 2026 obligations will be adjusted to reflect the timing of the first issuance. Instead of applying the annual mandate in full, the target will be calculated on a pro-rata basis, meaning only the remaining months of the year after the first CGOB issuance will count toward compliance. Under this structure, CGOB demand in 2026 is expected to be lower than under a full-year mandate, aligning compliance volumes with initial supply availability. Nobre said the agency will formally notify the market once the issuance platform is fully operational. The panel also discussed how the timing of the first issuance could shape early supply-and-demand dynamics and delay price formation. Luis Felipe Poli, business development manager for gas and energy at Petrobras, said buyers already see economic value in the environmental attribute associated with gas, although clearer pricing signals are expected only once issuance begins. On the supply side, Tayane Vieira, head of ESG and government relations at biomethane producer Gas Verde, said 2026 is likely to be a transition year, with market participants testing volumes, certification procedures and demand patterns as the regulated market starts operating alongside voluntary schemes. From the demand perspective, Adrianno Lorenzon, natural gas director at industrial consumers' association Abrace Energia, cautioned that the regulated mandate should not crowd out voluntary demand in the early phase, warning that distortions could affect liquidity and price discovery. Luciano Figueredo, project manager at certification body Instituto Totum, said discussions around certificate fungibility and differentiation by carbon intensity could initially fragment liquidity, with pricing premiums only emerging once trading gains scale. The panel concluded that, while regulatory uncertainty remains, the first CGOB issuance will mark the shift from policy design to market execution, with early prices likely reflecting limited supply and cautious demand from obligated parties. By Rebecca Gompertz Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Oiltek Malaysia, Brunei's BioSeaga to build SAF plant

07/04/26
News
07/04/26

Oiltek Malaysia, Brunei's BioSeaga to build SAF plant

Singapore, 7 April (Argus) — The Malaysian subsidiary of Singapore-based Oiltek International, which provides technology solutions in the vegoils industry, and Brunei-based food security and renewables project developer BioSeaga Industries signed a heads of agreement on 6 April to build a sustainable aviation fuel (SAF) plant in Sabah, Malaysia. The plant has a planned capacity of approximately 300 t/d according to a Singapore Exchange (SGX) filing. It is expected to cost around $350mn, but the final contract value will be recomputed and mutually agreed upon by the companies before they enter into a definitive agreement. The final value will be based on prevailing costs, finalised engineering designs and agreed scope of supply. Oiltek and BioSeaga aim to enter a definitive agreement by 6 October, depending on whether project financing, regulatory approvals, land right confirmation and other items have been secured. After that, Oiltek Malaysia will be the plant's exclusive contractor and undertake engineering, procurement, design, construction and commissioning (EPCC) services for its pre-treatment facilities, tank farm, logistic bulking infrastructure, and partial blending facilities. The term of the heads of agreement will be one year unless terminated earlier by the companies, extended by mutual written agreement, or superseded by a definitive agreement, whichever happens first. Oiltek is involved in several other early-stage Malaysian SAF projects. It is providing pretreatment unit technology for Malaysian engineering firm SK SAF's plant which plans to reach final investment decision by 2027-28. Last September, Oiltek also signed an agreement with state-owned Sarawak Economic Development (SEDC), biofuel feedstock supplier Apeiron Bioenergy, and fellow technology provider Sulzer to build a 15,000 t/yr SAF pilot plant in Sarawak. But Oiltek said in a separate filing with SGX on 6 April that it has not entered into a definitive agreement with Indonesia's state-owned Pertamina's subsidiary, PT Kilang Pertamina Internasional, to develop a pre-treatment unit in Indonesia and supply its feedstock. It added that the heads of agreement signed between the two companies in February 2025 had expired. By Sarah Giam Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Trump budget targets climate, clean energy programs

06/04/26
News
06/04/26

Trump budget targets climate, clean energy programs

Houston, 6 April (Argus) — The 2027 budget proposed by President Donald Trump would cut billions in funding for renewable and clean electricity development as part of a continued push to eliminate what he dubs "Green New Scam" policies put forward by the administration of former president Joe Biden. The 2027 fiscal year budget would eliminate $15.2bn allocated to the US Department of Energy (DOE) under a 2021 bipartisan infrastructure package "to deploy unreliable intermittent energy infrastructure, remove carbon dioxide from the air, and buy other costly technologies burdensome to ratepayers and consumers", according to the proposal put forward by the Trump administration on 3 April. The budget would similarly repurpose $4.7bn granted to the DOE under the 2021 law, allocating $3.5bn to "rapidly deploy firm baseload power", tacitly technologies such as natural gas, coal and nuclear which, unlike solar and wind, can generate electricity around the clock. Another $1.2bn would go toward artificial intelligence computing. The administration also aims to eliminate $1.1bn for climate change research conducted by the DOE's Office of Science and cancel $150mn for DOE studies on technologies like electric vehicles and direct air capture systems. The proposal would end renewable energy programs worth $45mn at the US Department of the Interior, with the administration endeavoring among other things to "put a stop to disastrous offshore wind energy projects". In addition, it would eliminate $1.6bn for the National Oceanic and Atmospheric Administration after its educational grant programs "consistently funded" initiatives that "radicalize students against markets" and promoted "baseless environmental alarm", according to the administration. The budget would also cut $204.5mn from the US Treasury Department's community development financial institutions fund, which uses federal and private money to support economically disadvantaged areas. The reductions will prevent tax revenue from supporting policies to which the administration is opposed, including "wind farms that degrade America's natural landscape and fail to serve American energy consumers". Senate minority leader Chuck Schumer (D–New York) criticized the cuts, including "massive" reductions to energy affordability, while promising that Democrats would fight "tooth and nail" to prevent the budget from becoming law. "Trump is already spending massive sums on never-ending wars abroad, and now he's pushing for a record-breaking $1.5 trillion in defense spending while slashing programs that Americans and seniors care about and rely on," Schumer said. By Patrick Zemanek Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Vietnam caps carbon credit exports under new decree

06/04/26
News
06/04/26

Vietnam caps carbon credit exports under new decree

Mumbai, 6 April (Argus) — Vietnam has set limits on the volume of carbon credits and emission-reduction measures that can be exported as internationally transferred mitigation outcomes (Itmos) under Article 6 of the Paris Agreement, signalling a cautious approach to international carbon markets. The regulation, effective 19 May, caps the share of credits that can be transferred abroad with corresponding adjustments at different levels depending on project type, under a new decree released on 1 April. Priority mitigation activities, or category 1 projects ( see table- List 1 ) — including renewable energy, waste management and carbon capture — can export up to 90pc of issued credits. While a broader set of encouraged activities faces a tighter ceiling of 50pc ( see table- List 2 ). This tiered structure reflects the government's intent to prioritise high-impact decarbonisation sectors for international monetisation, while retaining a larger share of credits from other sectors to support domestic climate targets, the government said. For transactions that do not involve corresponding adjustments — typically those aimed at voluntary carbon markets without Nationally Determined Contributions (NDC) accounting — the decree allows up to 90pc of credits to be exported across all project categories. The remaining share of credits, after international transfers, can be used within Vietnam's domestic carbon market. This provision ensures that a portion of mitigation outcomes is preserved to meet national emissions-reduction commitments and potential future compliance demand. The caps apply at the level of each crediting period rather than over the lifetime of a project, providing flexibility for developers while maintaining overall control of export volumes. The Ministry of Agriculture and Environment (MAE) retains authority to revise the list of eligible activities and transfer thresholds, subject to approval by the prime minister, allowing policy adjustments in response to market or policy developments. The introduction of export limits highlights Vietnam's balancing act between attracting international carbon finance and safeguarding its own decarbonisation pathway, the MAE said. By constraining the outflow of credits — particularly from non-priority sectors — the government aims to avoid over-reliance on exports while ensuring sufficient supply for domestic compliance as its carbon market evolves. By Shribalaji Shenbagaraj List of category 1 measures and activities Energy Geothermal power Offshore wind power Off-grid solar power systems, under 15MW, provide electricity to areas with difficult or extremely difficult socio-economic conditions. Wave energy, tidal energy; production of green hydrogen, green ammonia, and methane biogas. Energy storage systems using advanced technology (ESS) Applying best existing technologies and techniques (BAT) to improve energy efficiency, replace, or save fuel. Energy (transportation) Transition to green and clean energy vehicles. Transition from high-emission to low-emission modes of transport. Electric vehicle charging station Industrial process Application of carbon capture, utilization, and storage (CCUS) or carbon capture and storage (CCS) technologies in industrial processes, building materials production, and energy. Capture CO2 directly from the air. Applying the best existing technologies and techniques (BAT) to reduce greenhouse gas emissions in industrial processes and building materials production. Switching to refrigerants in cooling and air conditioning that have a lower global warming potential (GWP) than stipulated in the Government's roadmap. Waste and wastewater management Solid waste treatment by incineration (with electricity generation) Recovering and utilizing gas from landfills. Conversion from anaerobic to aerobic septic tanks in decentralized domestic wastewater treatment systems. Converting and applying aerobic technology in domestic wastewater treatment systems. Recycling and disposal of HFCs, HCFCs, and SF6 with high GWP (Global Warming Potential). Agriculture and livestock Modernizing irrigation and fertilization for long-term crops. Recycling agricultural waste Alternating wet and dry irrigation and improved rice cultivation systems in areas with inadequate infrastructure. Applying microbial technology to improve rice cultivation systems. Biogas and biochar from straw and agricultural by-products. Improve the diet of cattle and buffalo. Biofuel production Source: Government of Vietnam List of category 2 measures and activities Energy Combined-cycle gas-fired power plants use imported LNG. Biomass power Renewable energy projects and energy efficiency projects that have been registered under the JCM Mechanism or approved for conversion from the Clean Development Mechanism (CDM) to the Article 6.4 Mechanism. Onshore wind power Industrial process Use of additives in cement production Biomass-fueled boilers are replacing coal/oil-fired boilers at facilities not participating in greenhouse gas emission trading. Energy (residential, commercial, and service) Use high-efficiency air conditioners. Use high-performance cooling equipment. Waste and wastewater management Compost production Solid waste treatment by incineration (without electricity generation) Anaerobic treatment of solid waste and biogas recovery Production of fuel derived from solid waste (RDF) Transforming and applying aerobic technology in centralized industrial wastewater treatment. Recovering and utilizing biogas from industrial wastewater treatment systems. Agriculture and livestock Replace urea fertilizer with slow-release, slow-dissolving ammonium nitrate fertilizer. Recycling livestock waste into organic fertilizer. Organic fertilizers are produced from collected household waste, livestock waste, and agricultural by-products. Improving aquaculture technology Forestry Implement REDD+ for terrestrial natural forests. Reduce greenhouse gas emissions and increase greenhouse gas absorption by mangrove forests and seagrass beds. Increase greenhouse gas absorption through improved terrestrial forest plantations. Increase greenhouse gas absorption through agroforestry and non-forest tree development. Advanced emission reduction measures and technologies to improve processes in areas and activities aimed at reducing greenhouse gas emissions. Source: Government of Vietnam Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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