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Últimas noticias sobre productos del petróleo
Últimas noticias sobre productos del petróleo.
India's Essar plans SAF, HVO plant in 2028-29
India's Essar plans SAF, HVO plant in 2028-29
Singapore, 16 January (Argus) — India's Essar Future Energy, part of Indian conglomerate Essar Global Fund, plans to build a 800,000 t/yr hydrotreated biofuels plant in India, projected to start operations between the second half of 2028 and early 2029. The plant will be located in the Gujarat state's Devbhumi Dwarka district and is expected to reach a final investment decision (FID) in the next few months, its chief commercial officer Nikunj Nangalia told Argus . It aims to process 1mn t/yr of hydrotreated esters and fatty acids (HEFA) feedstocks to produce around 800,000 t/yr of sustainable aviation fuel (SAF) and hydrotreated vegetable oil (HVO), Nangalia said. The facility will consume fats, oils and greases as feedstock, primarily used cooking oil (UCO) from both domestic sources and imports from main UCO markets abroad. But Essar is also considering other feedstocks like tallow, palm oil mill effluent (Pome) oil and non-edible oils, Nangalia said. The SAF and HVO produced will have both ISCC EU and Corsia certification. A large part of the product will be shipped to the UK for captive consumption in Essar's Stanlow refinery, where it will be blended with fossil jet and diesel and supplied to the market to meet UK renewables targets. The remaining volumes will be exported to other destinations and supplied in India when SAF mandates come in, Nangalia said. India aims to achieve 1pc of SAF usage in international flights by 2027 , to rise to 2pc by 2028 and 5pc by 2030. The facility will require a 51bn rupees (US$566mn) initial investment, and subsequent capital injections in phases to total an estimated $1bn in capital expenditure over the next few years. This includes other required infrastructure such as pipeline logistics to ports, water treatment facilities and more. Essar Future Energy's chief executive Vibhav Agarwal signed an initial agreement with the Gujarat government this week to get approval to build the facility. By Sarah Giam Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India’s bitumen consumption growth slows in 2025
India’s bitumen consumption growth slows in 2025
Mumbai, 16 January (Argus) — India's bitumen consumption rose by about 4pc on the year in 2025 because of accelerating central government-linked projects, largely in line with expectations of a modest increase, most market participants said. Consumption rose to 8.74mn t in 2025, up from 8.43mn t in 2024, preliminary oil ministry data show. But this was still lower than the record high of 8.8mn t achieved in 2023. The growth was in line with expectations at 4-4.5pc. A market participant close to a state-controlled refiner had been optimistic that the increase could reach 5-6pc. Overall, the volume increase was not that significant, they said. Profit margins shrank in 2025 and were below 2024 levels, despite an increase in consumption, many importers said. Profit margins were squeezed because importers increased their purchases in anticipation of higher demand post-monsoon in 2025, but later struggled to sell in the domestic market because of lower-than-expected demand due to an extended monsoon season, an importer based in the west coast of India said. State-controlled refiners also offered steeper-than-expected discounts. These state refiners sold aggressively and importers were unable to compete, the importer added. Importers and state-controlled refiners typically offer discounts, which are sometimes unusually steep, to drive sales. The early onset and late withdrawal of the monsoon season in 2025 pushed many importers to slash their domestic selling prices or offer larger discounts to liquidate inventories and create ullage. Demand also slowed intermittently because of prolonged delays in the disbursement of project funds by some state governments. Demand in 2026 is expected to grow at the same pace as 2025 but will not accelerate, because the central government is unlikely to release new large-scale projects, market participants said. Prolonged delays in the disbursement of project funds by state governments may also provide headwinds for consumption, they added. Consumption growth in 2026 will be mostly driven by maintenance demand rather than new projects because the government does not have enough funds to release more new projects relative to 2025, another market participant close to a state-controlled refiner said. Some projects have yet to be completed and there is pent-up demand, especially from the national highway side, an east-coast India-based importer said. But imports will find support because bitumen production in India is unlikely to increase, with no new capacity augmentations in the pipeline and refineries increasingly opting to install residue upgradation units. By Sathya Narayanan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US imported biofuel credit cut unlikely in 2026
US imported biofuel credit cut unlikely in 2026
New York, 15 January (Argus) — President Donald Trump's administration is unlikely to immediately slash blending credits for foreign biofuels and feedstocks brought into the US, but the idea remains under consideration, people familiar with the matter said. The Environmental Protection Agency (EPA) last year floated a major revamp of the long-running biofuel program, including a plan to halve credits for blending biofuels produced abroad or made from foreign feedstocks. The Trump administration told a court last month it would finalize new biofuel quotas in the first quarter , kickstarting a last-minute lobbying campaign around whether EPA should proceed with the import-credit cuts. Two industry stakeholders closely tracking the debate told Argus that the administration's initial idea to slash credits for foreign fuels and feedstocks at the start of 2026 is likely dead. The US has previously been more cautious when finalizing retroactive biofuel mandates to avoid legal scrutiny, and it is not clear how regulators could belatedly track whether fuels already blended were made from foreign feedstocks. Any rule, even one announced in the coming weeks, would take effect 60 days after publication in the Federal Register . Oil refiners in particular have cast the plan as a threat to retail fuel prices and likely illegal, while US farm advocates worried about imports of renewable diesel feedstocks like used cooking oil have supported restrictions. Under the Renewable Fuel Standard program, EPA requires oil companies to annually blend different types of biofuels into the conventional fuel supply or buy credits from those that do. But there are still advocates within the administration for cutting program credits for imports, the industry stakeholders said. A third source who is directly familiar with the administration's thinking told Argus that the half-credit idea "remains in play". For instance, White House senior counselor for trade Peter Navarro — a longtime Trump adviser and vocal supporter of trade barriers — endorsed the half-credit proposal on Thursday in an unusual op-ed in The Hill website. "The rule closes loopholes that have allowed questionable imports to undercut American farmers and distort the market at scale," Navarro wrote. US secretary of agriculture Brooke Rollins shared the article on social media platform X, saying it was "spot on". Alternatively, biofuel supporters have told EPA that a record-high mandate for biomass-based diesel would support biorefineries that have struggled with policy uncertainty over the last year and guarantee strong demand for US feedstocks like soybean oil even without changes to the credit market. Some have advocated for a biomass-based diesel mandate for 2026 that amounts to between 5.2bn-5.6bn USG/yr of required blending. That is line with the Trump administration's proposal last year but would be a substantial jump from blend requirements of just 3.35bn USG/yr in 2025. Vintage-year 2026 Renewable Identification Number (RIN) credits tied to biomass-based diesel blending under the program rose to 126.5¢/RIN on Thursday, according to Argus assessments, the highest level for current-year credits in more than two years. RIN prices were supported by higher soybean oil futures after Navarro's op-ed, as well as new EPA data that showed continued weak biomass-based diesel RIN generation in December. EPA said it is "reviewing comments" as it "continues to work on a final regulation" and noted the court filing in which the Trump administration said it aims to finalize program updates this quarter. The White House did not respond to requests for comment. Other more technical decisions around program implementation could affect crop demand, biofuel production margins and fuel prices. EPA has proposed slightly cutting the amount of credits generated from blending a gallon of renewable diesel and potentially requiring larger oil companies to blend more biofuels to offset recent program exemptions granted to smaller competitors. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US' Venezuelan oil prices 30pc higher: Wright
US' Venezuelan oil prices 30pc higher: Wright
Washington, 15 January (Argus) — Venezuelan crude cargoes sold under a US-facilitated program are fetching prices 30pc higher than before the forced removal of the country's president Nicolas Maduro on 3 January, US energy secretary Chris Wright said on Thursday. President Donald Trump last week made Wright responsible for managing the sale of 30mn-50mn bl of Venezuelan crude in storage onshore and offshore, days after orchestrating Maduro's capture. Those oil sales have already raised $500mn , an administration official said. Wright said oil sales revenue will be placed in US-controlled accounts that will then flow back to Venezuela. "We're getting about a 30pc higher realized price when we sell the same barrel of oil, than [when] they sold the same barrel of oil three weeks ago," Wright said on Thursday at a US Energy Association conference in Washington, DC. Venezuelan crude typically commands a significant discount to global benchmark Ice Brent because of US sanctions, Argus assessments show. Venezuelan Merey cargoes for January delivery to Chinese ports — sold before the US took over Venezuelan oil sales — were offered at a $10-12/bl discount to Ice Brent futures. At least one cargo was offered since the US raid at a $42/bl discount to Brent, with a floor of $30/bl. Two aging, very large crude carriers operated by a sanctioned Greek shipowner departed Venezuela laden with crude in recent days for a Bahamas storage terminal, but it is not clear if those cargoes are part of the US-approved sales process. US Gulf Coast refiners, many of which were engineered to handle the type of heavy sour crude produced in Venezuela, are prepared to utilize crude from that country if it becomes available on the market, industry officials say. "If Venezuelan crude hits the open market, that certainly will be welcomed by those US refineries, because we're equipped to run it, we have easy access to it," American Fuel & Petrochemical Manufacturers chief executive Chet Thompson said at the same conference. The Trump administration has yet to provide details on how it will disburse the funds and whether it will authorize Venezuelan interim president Delcy Rodriguez's government to spend them. On Wednesday, Trump called Rodriguez a "terrific person" and said that her government is cooperating "very well" with US demands. Trump on Thursday hosted Venezuelan opposition leader Maria Corina Machado in a private meeting at the White House. Trump has downplayed the opposition's role in Venezuela's future governance. By Chris Knight 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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