Biofuels and feedstocks
Overview
Demand for biofuels is increasing significantly, driven by the need to decarbonise road transport as part of the energy transition. Global biofuels output is expected to rise by more than 3mn b/d in the next five years, and such rapid growth means that new challenges and opportunities are constantly emerging. Keeping on top of the ever-changing biofuels landscape requires accurate pricing, insightful analysis and access to the latest data.
The Argus biofuels solution provides in-depth pricing and market analysis across the entire global renewable fuel supply chain, from original feedstock to finished fuel, with prices and key insights into regional biodiesel, ethanol and feedstock markets.
Latest biofuels news
Browse the latest market moving news on the global biofuels industry.
Asia-Pacific bio-bunkers: B30 firms in Singapore
Asia-Pacific bio-bunkers: B30 firms in Singapore
Singapore, 2 December (Argus) — Prices for B30 very-low sulphur fuel oil (VLSFO) blend in Singapore firmed on 2 December, supported by market indications. An indication on a delivered premium basis was seen at $285/t or at $709.25/t on an outright basis. No further indications were seen, with prices assessed at $699.25-709.25/t delivered on board (dob) basis. Discussions were thin for B24 VLSFO blend, with prices assessed at $639.25-644.25/t on a dob basis and in line with the slight dip seen in cargo values on the day. Meanwhile, February Ice Brent Singapore crude futures fell by 37¢/bl on the day to $63.15/bl, despite some supply concerns after two sanctioned Russian tankers were hit off Turkey. Offers for used cooking oil methyl ester (Ucome) in line with Argus methodology were at $1,165-1,180/t fob China across regions, but buying interest remained thin, participants said. The assessment was stable at $1,150-1,165/t fob China. Strait of Malacca bulk Ucome remained at $1,260-1,270/t fob. A trader, and a seller were was not offering volumes, both saw quiet markets. The seller also agreed with the current assessment. The daily commentary does not reflect all deals collected during the day. For a full list of daily, spot bunker deals and firm price quotes collected by Argus globally click here . Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
UK to recommend countervailing duty on US HVO
UK to recommend countervailing duty on US HVO
London, 28 November (Argus) — The UK Trade Remedies Authority (TRA) plans to recommend that the government places a countervailing duty of £257.80-303.56/t ($341.3-401.9/t) on US-origin hydrotreated vegetable oil (HVO), but it will not recommend this be applied retroactively at this stage. The duty rate is set by company: Phillips 66 has a rate of £257.80/t, St Bernard Renewables of £258.10/t and Diamond Green Diesel of £265.82/t. All other US exporters have a rate of £303.56/t. Interested parties can comment on the statement of essential facts with the intended recommendation until 19 December. Although the TRA will not recommend retroactive implementation for now, it said it will monitor imports and could change this recommendation later. The TRA has also not recommended that provisional duties be put into place while preparing the final recommendation, which is expected in March. A provisional affirmative determination recommending the duties would typically be made to the government before or at the same time as the statement of essential facts. The product scope is "biodiesel (or paraffinic diesel fuel/gasoil) obtained from synthesis or hydrotreatment of oils and fats of non-fossil origin, in pure form or as included in a blend, originating in the US. This biodiesel is commonly known as hydrotreated (hydrogenated) vegetable oil diesel (HVO), renewable diesel or green diesel." Sustainable aviation fuel (SAF) is explicitly excluded from the scope of the duties. The TRA also terminated a simultaneous anti-dumping investigation. The three surveyed exporters — also Diamond Green Diesel, St Bernard Renewables and Phillips 66 — all showed a negative dumping margin, meaning the TRA could not prove dumping took place during the investigation period. To meet the standard for dumping, the export price would have had to be below the normal value of the goods. The benefit from subsidies is removed from this calculation to prevent double duties. Both investigations started in March . One primary US subsidy was considered to be "countervailable", according to the legal definition — the blender's tax credit (BTC). Using this to set the countervailing duty rate could be controversial. The BTC expired on 1 January and was replaced by the Clean Fuel Production Credit (CFPC), also known as 45Z. While the BTC was a fixed tax credit, the CFPC scales based on the carbon intensity of the fuel, and has been subject to a large amount of political confusion in the past year. The TRA was unable to include the CFPC in the subsidy margin because the investigation period ended on 31 December 2024, but said it did take the existence of the credit into consideration when making its recommendation. It still used the subsidy rate from the BTC to set the recommended duty levels. By Simone Burgin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Petrobras cuts spending in updated 5-year plan
Petrobras cuts spending in updated 5-year plan
Sao Paulo, 28 November (Argus) — Brazilian state-controlled Petrobras cut its spending plans by $7bn to $91bn in its 2026-2030 business plan, it said on Thursday. Petrobras outlined $109bn in overall capital spending in the current plan, down from $111bn in the previous five-year plan . The firm envisages $69.2bn in upstream spending over the next five years, of which around 62pc — about $42.6bn — is earmarked for pre-salt assets and $7.1bn for exploration. The figures represent an overall decrease from the $77.3bn in the previous plan. Pre-salt assets increased its share in the spending from 60pc, but their investments decreased from $46bn in the 2025-29 plan. Petrobras set $18bn to its evaluation portfolio. Of the total, $9bn will go for upstream activities, $5bn for refining and other activities, and $5bn for natural gas and low-carbon initiatives. The upstream figure is nine times higher than the envisioned amount in the previous plan, while refining figures increased slightly from $4bn. But gas and low-carbon initiatives decreased from $8bn from the previous plan. Exploration spending of $7.1bn is split between offshore fields in Brazil's south and southeast, the equatorial margin and foreign assets such as Colombia, Sao Tome and Principe, and South Africa. Petrobras received the environmental license to drill a well in the environmentally-sensitive equatorial margin in October . The company expects eight new projects to come on line by 2030, with seven new floating production, storage and offloading (FPSO) platforms — most of them in the pre-salt — and the Raia project , which Petrobras does not operate. The firm also expects 16 complimentary projects in the pre-salt, 15 in the post-salt and eight in onshore regions. The new FPSOs include the P-79 , P-80 , P-82 , P-83 units in the Buzios field, P-84 in the Atapu field and P-85 in the Sepia 2 field. All units have capacity of 225,000 b/d and all fields are in the pre-salt Santos basin. Petrobras included the deepwater oil and natural gas project Sergipe Aguas-Profundas in the plan, expecting its partial conclusion by 2030. Mines and energy minister Alexandre Silveira said this week that the executive veto on the new crude royalties formula was "a way to push Petrobras to maintain its investments from its previous plan," including the Seap and the Campos field revamp project. The firm expects oil and natural gas production to hit 3.3mn b/d of oil equivalent (boe/d) by 2030, with peak production at 3.4mn boe/d in 2028-29. The figures represent an overall increase from 3mn boe/d in the previous plan and an increase from 3.2mn boe/d for the 2028-29 timeframe. Petrobras' plan considered Brent crude prices at an average of $63/bl for 2026 and $70/bl for 2027-2030. It also considered average US dollar-Brazilian real exchange rate of R5.80/$1 in 2026-2030, it said. Refining, fertilizers Combined spending on refining, transportation, sales, petrochemicals and fertilizers is set to fall by over 19pc from the previous five-year cycle to $15.8bn, despite a forecast increase in diesel production. The company aims to prioritize 10ppm diesel over 500ppm. It will produce the fuel mainly in 21mn m³/d Boaventura Energy Complex, in southeastern Rio de Janeiro state, and in its recently upgraded 230,000 b/d Abreu e Lima plant in northeastern Pernambuco state, it said. Petrobras plans to focus investments on expanding and upgrading refineries with low-carbon fuels production, it said. The company aims to increase its installed processing capacity to 2.1mn b/d by 2030, up from 1.8mn b/d today, without acquiring or building new refining assets, it said. The firm also plans to increase logistics in the center-west and north, it said. Those plans include spending $2bn to build 20 cabotage vessels, 18 barges and charter other 40 supporting vessels for oil and gas production. The nitrogen fertilizers plant UFN-III in Tres Lagoas, in central-western Mato Grosso do Sul state, is the main investment in the sector, it said. Spending on the fertilizer sector is stable from the previous five-year plan. Energy transition in the corner Energy transition investments decreased by nearly 20pc from the previous plan to $13bn. While investments in bioproducts — including ethanol, biodiesel and biomethane — rose by over 11pc to $4.8bn, planned spending for decarbonization operations fell by 19pc to $4.3bn. Investments in low-carbon energies almost halved to $3.1bn. But spending on research and development initiatives grew by 20pc to $1.2bn. The plan earmarks $4bn in spending on natural gas and low-carbon energy projects, up by 54pc from the previous plan. Petrobras will prioritize ethanol, biodiesel, biomethane production through partnerships and shared assets, in tandem with its own projects for renewable diesel, sustainable aviation fuel and biobunker prompted by regulatory advances, it said. By Maria Frazatto and João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
EU readies new bioenergy strategy
EU readies new bioenergy strategy
Brussels, 26 November (Argus) — The European Commission is today expected to adopt a new strategy aimed at boosting "nature-positive" investment and making better use of biomass. The latest version of the strategy seen by Argus deleted wording from a previous leaked draft that mentioned disincentivising "inefficient" biomass combustion, including changes to EU and national subsidies to avoid prioritising combustion over material use. Industry groups last month had criticised the previous draft strategy for "punishing" biomass combustion and ignoring the role of sustainable biofuels. The commission may still amend the current strategy document, which sets out a direction for policies but is not itself a legal proposal. Demand for biofuels will likely rise from 2025, in part thanks to the bloc's ReFuelEU Aviation and FuelEU initiatives, but sustainable biomass remains finite and its use is most effective in hard-to-abate sectors, the commission said in the document. The commission wants to add value to energy, industry, food, health and other sectors through biomass processing and biotechnology. The body said it would, for example, support uptake of bio-based plastics and novel materials by 2027 alongside recycling. Officials could also assess whether EU-wide definitions could support certification and scaling of bio-based polymers. And an EU methodology could certify long-lasting biogenic carbon storage in buildings under the carbon removal and carbon farming certification framework. The commission will issue legislation such as the upcoming BioTech Acts to bolster industrial production of bio-based chemicals and may target bio-based content requirements in some products. In the strategy, the commission and the European Investment Bank will use finance instruments to support biorefineries that incorporate new technologies. And a forthcoming Circular Economy Act aims to support biogas and biomethane production as well as using digestate as a fertiliser. A review next year of the bloc's emissions trading system will also explore potential for scalable biogenic carbon, capture, use and storage projects. The EU is also scheduled to review its Renewable Energy Directive by 2027 and assess how national biomass support schemes affect biodiversity. Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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