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Colombia's Ecopetrol to export first sulphur

  • Market: Fertilizers
  • 28/05/26

Colombian oil company Ecopetrol will export its first containerised sulphur shipment in June from its 200,000 b/d Cartagena refinery.

The 1,100 metric tonnes (t) load is destined for African and Latin American markets, with Tanzania and Peru among destinations.

Ecopetrol said it will have a regular export volume of around 1,000t/month of containerised product, and is currently negotiating July export volumes.

Ecopetrol recently announced the first shipment of 260t of solid sulphur produced at a newly inaugurated pelletizing plant at its Cartagena refinery. The first solid sulphur cargo was sold to a domestic distributor supplying Colombia's fertilizer, chemical, mining and water treatment sectors.

By Maria Mosquera

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27/05/26

Iran, US dispute status of Hormuz in draft deal: Update

Iran, US dispute status of Hormuz in draft deal: Update

Updates with US comments, other details London, 27 May (Argus) — A draft agreement to end the war between the US and Iran includes a pledge from Tehran to return the number of commercial ships passing the strait of Hormuz to pre-war levels within a month, Iranian state television reported on Wednesday. But President Donald Trump later on Wednesday pushed back against Tehran's assertion of control over Hormuz and other Iranian demands. Crude futures fell sharply after the report by Iranian broadcaster IRIB, with front-month Ice Brent approaching $94/bl, the lowest intraday level since 21 April. Prices subsequently regained some ground. IRIB said it had seen a "first draft" of a 14-point agreement that said "managing the passage of ships… and receiving fees for services remains at the discretion of [Iran], which will work in co-operation with Oman". In return, IRIB said the US has pledged to lift the maritime blockade on Iran, and has agreed to "make a commitment" on the issue of its military presence in countries neighbouring Iran. The IRIB report contains no mention of agreement on other key issues, like Iran's nuclear programme, or on the repatriation of funds to Tehran. Iranian officials previously indicated they are eyeing the return of its funds frozen in foreign banks under US mandates. Trump, in televised remarks at the Cabinet meeting on Wednesday, said he expects the strait of Hormuz to reopen immediately if an agreement is signed. "The strait (of Hormuz) is going to be open to everybody," Trump said. "We'll watch over it, but nobody's going to control it. That's part of the negotiation that we have. They would like to control it, nobody's going to control it." Tehran has touted a joint Iranian-Omani mechanism to control navigation through Hormuz. "It's international waters, and Oman will behave just like everybody else, and we'll have to blow them up," Trump said. "They understand that. They'll be fine." Iran should not count on immediate relief of US sanctions or repatriation of funds, Trump said. "We're not talking about any easing of sanctions or giving money," Trump said. "We'll keep control of that money. When they behave properly, and when they do what's right, we'll let them have their money, but right now we're not doing that." By Nader Itayim, Ben Winkley and Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Indian DAP stocks recovered slightly in April

27/05/26
News
27/05/26

Indian DAP stocks recovered slightly in April

London, 27 May (Argus) — Indian DAP stocks increased slightly in April as a result of combined imports and production marginally outweighing domestic demand, in line with expectations from provisional data earlier this month , according to Indian fertilizer association FAI data. Indian DAP stocks rose marginally to just below 1.93mn t by the start of May, Argus estimates. This was also a recovery from around 1.60mn t of DAP inventories at the end of April last year, although stocks remained more than 1mn t lower than the average for the time of year over 2022-24. DAP stocks are also down slightly from the start of this year because increased output has not covered the substantial fall in imports in the face of firm offtake compared with last year. India produced 303,000t of DAP in April, just 10,000t lower than in the same month last year, according to FAI data, although DAP production over January-April of 1.175mn t was ahead of the 933,000t produced in the first four months of 2025. But the lack of sulphur and ammonia — key raw materials for DAP production — raises doubts over whether India can sustain this trend. Imports are significantly lagging year-earlier levels. DAP imports of only 49,000t last month brought the January-April total to 298,000t — or just 39pc of India's DAP imports over the same period in 2025. Importers facing firm global prices, especially since the start of the US-Iran war and the closure of the strait of Hormuz, have kept to the sidelines while they wait for further clarity on whether the government will provide additional financial support to importers beyond the nutrient-based subsidy. Major importer IPL successfully lined up more than 1.3mn t of DAP in its 7 May tender on behalf of several importers, following the government's recommendation that importers buy on a consortium basis. Domestic DAP sales of 326,000t in April surpassed the total for April last year by 114,000t. And offtake since January of 1.736mn t is 49pc higher than in the same period in 2025. TSP stocks fell by 31,300t in April because no imports arrived to replace product sold domestically, according to FAI sales data and Argus lineup data. Argus estimates Indian TSP stocks at the end of April at around 374,000t. By Tom Hampson Indian DAP stocks and prices '000t Indian DAP production, imports and prices '000t Indian TSP imports and stocks '000t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Iran-US deal draft contains Hormuz pledge: State TV

27/05/26
News
27/05/26

Iran-US deal draft contains Hormuz pledge: State TV

London, 27 May (Argus) — A draft agreement to end the war between the US and Iran includes a pledge from Tehran to return the number of commercial ships passing the strait of Hormuz to pre-war levels within a month, Iranian state television reported today. Crude futures fell sharply after the report, with front-month Ice Brent approaching $94/bl, the lowest intraday level since 21 April. Prices subsequently regained some ground, with Ice Brent down by around 4pc as of 13:45 GMT. Broadcaster IRIB said it had seen a "first draft" of a 14-point agreement that said "managing the passage of ships… and receiving fees for services remains at the discretion of [Iran], which will work in co-operation with Oman". In return, IRIB said the US has pledged to lift the maritime blockade on Iran, and has agreed to "make a commitment" on the issue of its military presence in countries neighbouring Iran. Details of the latter agreement are unclear. None of this has been confirmed by the governments in Tehran or Washington, although US president Donald Trump on 23 May said an agreement with Iran to reopen the strait of Hormuz has been "largely negotiated". Today's IRIB report contains no mention of agreement on other key issues, like Iran's nuclear programme, or on the repatriation of funds to Tehran. By Nader Itayim and Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Tupras sulphur awards remain below Med export prices

21/05/26
News
21/05/26

Tupras sulphur awards remain below Med export prices

London, 21 May (Argus) — Turkish refiner Tupras on Thursday awarded its e-tender for sulphur in full, offering small lots for loading in June at $690-730/t fca, up by $248/t on average from the previous tender on 28 April and 30 April at $428-496/t fca. From Izmit — lots ranging from 100-1,200t at $690-723/t fca. From Kirikkale — lots ranging from 200-900t at $725-730/t fca. From Izmir — lots ranging from 150-650t at $701-713/t fca. Prices remain lower than in the export market in light of a recent sulphur export ban in Turkey that limits suppliers to the domestic market. By Fenella Rhodes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Egypt, Morocco H2 plans await stronger demand signals

21/05/26
News
21/05/26

Egypt, Morocco H2 plans await stronger demand signals

Rotterdam, 21 May (Argus) — Morocco and Egypt have been among north Africa's most prominent countries for renewable hydrogen and derivatives production, but with the majority of announced projects at early development stages market participants say stronger demand signals will be required for plans to move forward. High capital costs are often cited as a constraint for project developers setting their sights on emerging markets. But a lack of demand — rather than financing availability — is the primary barrier to project development in Morocco and Egypt, according to a report from the Green Hydrogen Organisation (GH2). While financial institutions have shown interest in funding projects, the "absence of revenue certainty remains the central issue" to make projects bankable, GH2 programme officer Simran Sinha said during an event on the sidelines of the World Hydrogen Summit in Rotterdam this week. GH2 spoke with 23 industry stakeholders in the two countries and "demand uncertainty always came first" when they listed their challenges, Sinha said. Morocco has taken steps to support developers. The government and the Moroccan Agency for Sustainable Energy (Masen) are facilitating access to land, infrastructure, governance frameworks and contracting pathways under its Moroccan offer launched in 2024 targeting large-scale hydrogen projects. Six projects are currently included, five of which remain at pre-FEED stage — but missing demand is stalling development, said Masen executive director Nawfal El Fadil. Clear and stable standards are also required, El Fadil said. Certification systems must be internationally aligned and remain consistent over a project's lifetime to support bankability. If conditions need to be adapted during the lifecycle of a project, it will not be bankable, he said. Egypt faces similar constraints. The country has established a regulatory framework, industry strategy, incentives and international agreements to support hydrogen development, according to Egyptian Petrochemicals Holding Company chairman Alaa El-Din Abdel Fattah. A contract awarded in 2024 under the H2Global programme to Fertiglobe for renewable ammonia exports from Egypt demonstrates the country's competitiveness, he said. But further demand signals are needed to move additional projects forward. Alongside demand uncertainty, gaps remain in financing tools and certification clarity, Fattah said. Stakeholders have proposed some measures to address these barriers. Because many projects in Egypt and Morocco target exports to Europe, bankability depends not only on domestic policy frameworks, but also on clear demand through mandates, subsidies or mechanisms such as carbon pricing in importing centres, GH2 said. Concessional and blended finance — special types of financing available for projects in developing countries — can help improve financing terms as project mature towards bankability; but these mechanisms alone are not enough to make projects bankable in early development stages when developers need to do feasibility studies and asses risk, GH2 said. Risk-sharing mechanisms could also support project progress. Developers currently bear a disproportionate share of early-stage project risk, which delays financing. "Financing is available, but it tends to enter too late, as no actor is willing or mandated to take the first risk," GH2 said. Further measures such as foreign exchange risk mitigation tools, contracts for difference (CfD) and more investments in common user infrastructure could also support investment, OECD's industry programme lead Deger Saygin said. By Pamela Machado Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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