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Últimas noticias sobre productos del petróleo
Últimas noticias sobre productos del petróleo.
Divisions deepen over carbon pricing ahead of IMO talks
Divisions deepen over carbon pricing ahead of IMO talks
Dubai, 27 April (Argus) — Shipping industry groups and governments enter a critical round of talks at the International Maritime Organisation (IMO) this week facing deepening divisions over how to cut emissions, with no clear consensus on the design or cost of decarbonisation. The 84th meeting of the IMO's Marine Environment Protection Committee (MEPC), being held in London, follows a previous meeting in October that ended without agreement on a global emissions framework. IMO secretary=general Arsenio Dominguez later described the outcome as a "small setback", while stressing that the sector's decarbonisation efforts remain on track. At the centre of the dispute is the proposed net-zero framework (NZF), which includes a carbon pricing mechanism intended to accelerate the shift to low-emission fuels. Supporters see the framework as a necessary investment signal, while critics warn it would impose costs the sector is not yet equipped to absorb. A coalition spanning shipowners, shipping companies and ship registries — including Liberia, Panama and the Marshall Islands, which together account for a large share of the global fleet — has called for alternative approaches to be considered. The group has warned that support for the NZF "in its current form" has eroded. It is pushing for a more flexible, technology-neutral framework that would allow continued use of transitional fuels such as LNG and biofuels, while avoiding penalty-based mechanisms that could raise costs for operators and consumers. In contrast, a separate coalition of ports, logistics firms and clean fuel developers has urged governments to adopt the NZF, arguing that further delays would undermine investment in alternative fuels and slow the energy transition. The divergence highlights a deeper split within the shipping ecosystem. Shipowners and flag states are prioritising cost, fuel availability and operational feasibility at a time of heightened disruption in energy markets caused by the Iran war, while fuel suppliers and infrastructure developers are seeking regulatory certainty to underpin long-term investments. EU countries are expected to continue backing a carbon levy. The US has opposed such measures, which contributed to the postponement of a decision at last year's IMO meeting. Dominguez has also pointed to the current geopolitical environment — including disruptions to energy markets and shipping routes — as reinforcing the need to balance energy security, affordability and sustainability, a dynamic increasingly shaping the sector's approach to decarbonisation. Industry sources aligned with developing countries within the IMO told Argus that proposals based on carbon pricing or penalty mechanisms risk distorting trade flows and placing a disproportionate burden on emerging economies. They instead favour a more "pragmatic" and technology-neutral approach that reflects differing levels of fuel availability, infrastructure and economic capacity. The sources added that support from major flag states is procedurally significant, noting that backing from countries representing a large share of the global fleet will be critical to reaching any agreement. The result is a negotiation that is as much about cost allocation and regulatory design as it is about climate ambition. With no final decision expected at this week's meeting, discussions are likely to extend through the year, leaving shipowners, fuel producers and investors facing continued uncertainty over the future regulatory framework. Shipping accounts for around 3pc of global emissions and carries roughly 80pc of world trade, underscoring the importance of the IMO process for global energy markets and supply chains. By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
California fuel imports soar after refinery closures
California fuel imports soar after refinery closures
Houston, 27 April (Argus) — California has become increasingly dependent on fuel imports following the closure of two large refineries, making it particularly vulnerable to supply shortages related to the war in the Middle East. Refiner Phillips 66 and midstream giant Kinder Morgan are developing a midstream project that could provide some relief, but the plan will take years. In the meantime, the state's gasoline and jet fuel prices have reached multi-year highs, boosted by supply concerns, even as imports have soared. California has lost about 17pc of its refining capacity in the past seven months following the closure of Phillips 66's 139,000 b/d Los Angeles and Valero's 145,000 b/d Benicia complexes. Total imports of refined products to the western US rose to nearly 345,000 b/d on 1 January-10 April, up by 38pc from the same period last year, according to weekly data estimates from the Energy Information Administration. California gasoline imports rose to 122,000 b/d in February, as the Benicia plant started to shut down, according to trade analytics platform Kpler. That was up from 28,000 b/d in January and 8,000 b/d higher on the same month last year. Import dependence persisted in March, with gasoline arrivals of 142,000 b/d, nearly three times higher than a year earlier. Tightening regional supply and higher underlying Nymex Rbob values as a result of the war in the Middle East pushed prices higher. Los Angeles regular Carbob differentials rose to a five-month high of 60¢/USG on 21 April, up by 41.25¢/USG from pre-war levels. San Francisco regular Carbob differentials rose to 66¢/USG on 21 April, up by 41.5¢/USG from before the war began. Outright regular Carbob prices on 21 April were $3.81/USG in Los Angeles and $3.79/USG in San Francisco, up from $2.47/USG and $2.53/USG, respectively, on 27 February, before the war started. At the same time, in-state Carbob production dipped in mid-April, further exacerbating supply constraints. California refiners cut the production of Carbob gasoline by 13pc to 570,000 b/d, the lowest in at least five years, as their priority shifted to producing in-state Carb diesel, according to the latest California Energy Commission data. Prices are likely to remain supported in the near term as geopolitical tensions have started to constrain inflows. Jet fuel woes Jet fuel prices on the US west coast reached an all-time high of $4.92/USG on 23 April, up from a previous high of $4.81/USG on 20 March, according to Argus data. California jet fuel stocks were at a more than two-year low as of 10 April, recent state data show. And South Korea — the state's main supplier of jet fuel — relies heavily on the Middle East for its crude and naphtha supplies and has taken measures to maintain local inventories, including export caps on refined products. Californian jet fuel arrivals from South Korea have averaged about 38,000 b/d in April, roughly even with March but down from 46,000 b/d, on average, in January-February, Vortexa data show. In the longer term, the Phillips 66-Kinder Morgan project, dubbed Western Gateway, could curb the need for fuel imports. The companies say they are advancing the project after securing shipper commitments. The plan includes a new 200,000 b/d pipeline from Borger, Texas, to Phoenix, Arizona, combined with the reversal of Kinder Morgan's existing SFPP pipeline from Colton, California, to Phoenix, Arizona. It includes destinations west of Colton, allowing access to Los Angeles markets. The companies expect the project to start up in 2029. By Eunice Bridges and John Huber Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Aster, Puraglobe explore RRBO facility in Singapore
Aster, Puraglobe explore RRBO facility in Singapore
Singapore, 27 April (Argus) — Singaporean producer Aster Chemicals and Energy and Germany-based re-refiner Puraglobe have entered into a Memorandum of Understanding (MOU) to explore the development of Singapore's first re-refined base oil (RRBO) facility. The two companies will study the feasibility of processing used motor oil into re-refined Group II, III, or III+ base oils, according to a joint press release on 24 April. The firms plan to advance joint feasibility studies on Aster's Bukom Island as the potential host site, evaluating technology integration, feedstock supply, site configuration, and the full economics of bringing this capability to market, said Andre Khor, Aster's deputy chief executive. The announcement comes as the lubricant industry increasingly embraces the use of high-quality RRBO to drive circularity and reduce emissions across its product value chain. Aster currently operates a 380,000 t/yr Group I base oil production facility in Singapore. The company announced a $71mn upgrade to its lube oil complex in December 2025 to convert refinery residue into higher value base oils, as part of its broader $155mn refinery upgrade slated for operations in 2026. Puraglobe is a major base oil recycler headquartered in Germany, processing over 225,000 t/yr of used motor oils and lubricants. By Tara Tang Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
TCO increases Brazil's corn ethanol margins
TCO increases Brazil's corn ethanol margins
Sao Paulo, 24 April (Argus) — Domestic sales and exports of technical corn oil (TCO) will boost Brazilian corn ethanol plants' margins, as the sector looks to monetize byproducts. Brazil will produce 10.5bn liters (181,230 b/d) of corn ethanol and, consequently, around 453.9mn liters of TCO — byproduct of corn-based ethanol production — in 2026, according to the Corn Ethanol Strategy Report from Argus ' consulting division. The report expects TCO production is expected to jump to 691.8mn liters by 2035, in line with the expansion of corn ethanol production to 16bn liters. TCO serves as a third source of revenue for corn ethanol plants, behind ethanol and a class of dried grains — including those without solubles (DDG) and those with solubles (DDGS). TCO's price is currently based on references for other oils, such as soybean oil or used cooking oil (UCO), with a premium or discount applied. Processing one metric tonne (t) of corn yields 420 liters of ethanol, 212kg of DDGS and 19kg of TCO, equivalent to about 20 liters. Because TCO generates more decarbonization credits than other inputs, the strongest demand for it comes from the biofuel industry. TCO can be used as a feedstock for biodiesel, hydrotreated vegetable oil or sustainable aviation fuel (SAF). Producers see opportunities in the foreign market, notably in Europe, where residual feedstocks generate credits that make the final product more valuable. This differs from the Brazilian domestic market, which lacks tax incentives for biofuels derived from waste. TCO, which is more acidic than UCO and soybean oil, ends up being traded at a discount in the domestic market because it has a lower yield than other oils and fats. Corn ethanol plants eyeing arbitrage opportunities are seeking to certify their production to expand exports of TCO and TCO-based biofuels. The feedstock is already being directed toward the biodiesel industry. PBio, a biofuels subsidiary of state-controlled energy company Petrobras, carried out its first export of biodiesel produced from TCO to Europe in September, in partnership with the local corn ethanol giant Inpasa. Other biodiesel producers are showing interest in expanding their presence in the international market, especially due to their idle production capacity, which is leading them to seek out alternative raw materials for production. The expectation is that new SAF biorefineries will also demand TCO to be used via the hydroprocessed fatty acids and esters route. bids from the SAF industry for TCO tend to be higher than those from the biodiesel sector, given the higher returns on aviation fuel, According to market participants. Although part of the sector is targeting international markets, the lack of certification for some corn ethanol plants and freight costs — both road and sea — may keep most volumes in Brazil. Most corn ethanol and TCO producers are concentrated in the central-westERN state of Mato Grosso, home to most biodiesel plants. The positioning could facilitate logistics of domestic sales. By Natalia Dalle Cort, Maria Lígia Barros, and Joao Marinho Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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