Explorer schedules restart of products line: Update

Spanish Market: Crude oil, Oil products
01/09/17

Adds revised start-up schedule for pipeline

The 660,000 b/d Explorer pipeline says it plans to restart its main product line from the US Gulf coast to Oklahoma on 3 September as supply disruptions from Hurricane Harvey begin to ease.

Explorer earlier today said it expected to restart its 28-inch (71cm) product line between Port Arthur, Texas, and Tulsa, Oklahoma, by tomorrow. But it pushed back the schedule until 3 September after receding floodwaters made it possible to complete further facility assessments. Explorer says its connecting 24-inch product line that extends to Wood River, Illinois, and Hammond, Indiana, is scheduled to start on 4 September.

Explorer had shut those lines after running out of product to transport. It previously cautioned that its scheduled start-up times were "subject to change."

The 1,380-mile (2,945km) pipeline system transports gasoline, diesel, fuel oil and jet fuel from refineries in the Houston area that were disrupted by severe flooding after Harvey stalled over Texas. The storm dropped more than 40 inches of rain on parts of Texas.

Explorer says its 10-inch products line from Houston to the Dallas-Fort Worth area in Texas is still running. The line was temporarily shut after Harvey made landfall but has been operational for the past three days.

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09/10/26

Voluntary biodiesel use furthers Brazil climate goals

Sao Paulo, 9 October (Argus) — Voluntary use of biodiesel in Brazil above its 15pc mandate is broadening across sectors, highlighting diverse approaches to decarbonization and energy security amid intensifying global conflicts. The pending implementation of a regulated carbon market in Brazil means companies will need to reduce or offset greenhouse gas emissions. To meet those obligations, many are expanding their use of biofuels alongside the purchase of carbon credits. Biofuel use could also gain ground as an alternative to petroleum-based diesel, especially during price spikes driven by geopolitical conflicts such as the Mideast Gulf conflict and the Russian war in Ukraine, market participants from biofuel companies and industries say. Biodiesel is typically more expensive than diesel in Brazil, but that relationship can flip during periods of global tension. Between 2 March, the first trading day after the start of the US-Iran war, and 6 October, the price of S10 diesel at the southern port of Paranagua, in Parana state, reached R7,402($1,480)/m³, the highest level since the 2020 start of Argus' historical series. Biodiesel in the same period was quoted at R5,434/m³ in the spot market in Araucaria, also in Parana. Companies have also begun to pay greater attention to energy security in light of recurring international crises and supply risks. Brazil imports between 20-25pc of its diesel demand, leaving it exposed to foreign market conditions. In this context, biofuels are gaining importance not only as a decarbonization tool but also as an alternative to reduce reliance on imported fuels and bolster energy security. This concern has been reinforced by recent events highlighting the vulnerability of global supply chains. Russia, one of the world's leading diesel exporters and historically a major supplier to Brazil, went so far as to restrict overseas shipments to safeguard its domestic market during the war in Ukraine. In the US, statements by President Donald Trump regarding potential limits on fuel exports have also fueled fears of a tightening in global supply. "Companies need to analyze the magnitude of the risk associated with not having the product [diesel]" in hand, said Daniel Furlan Amaral, regulatory affairs director at the Brazilian vegetable oil industry association Abiove. "This will become a component of companies' risk matrices." Industries from mining to consumer goods test higher blends Brazilian mining giant Vale is among the firms testing higher biodiesel blends. In Mariana, in southeast Minas Gerais state, the company uses 30–50pc biodiesel blends in part of its truck fleet, which has a capacity of up to 190 tonnes (t). Vale sees biodiesel use, once performance parameters are validated, as having the potential to generate meaningful environmental gains and serve as a benchmark for large-scale adoption across the sector. The miner is also investing in solutions such as ethanol and battery-electric trucks. A Brazilian-based subsidiary of German auto giant Mercedes-Benz is also testing diesel with a 30pc biodiesel blend in its vehicles. According to the automaker, the trials assess component durability and equipment performance under long-term operating conditions. Besides Mercedes-Benz, state-controlled Petrobras is running tests with 20–25pc blends to evaluate the potential for emissions reductions, while rail operator Rumo uses a 16pc blend in part of its rail fleet. There are also cases of pure biodiesel use in specific applications. Mercedes-Benz reported positive results with the fuel during the Rota Sustentavel COP30 initiative, carried out in partnership with Brazilian biofuel producer Be8. In the initiative, a truck traveled about 4,000km between Passo Fundo, in the southern state of Rio Grande do Sul, and Belem, in the northern state of Para, cutting greenhouse gas emissions by about 99pc, according to researchers from the Instituto Maua de Tecnologia. Among other firms evaluating biodiesel use are consumer goods giant Unilever, which uses pure biodiesel in boilers; maritime logistics firm Wilson Sons Servicos Maritimos, in waterborne operations; and power plant Energetica Suape II, in thermoelectric generation engines. Be8 and other biodiesel producers, such as Amaggi, Potencial, Binatural and Oleoplan, are also conducting evaluations with blends above the mandatory level. Regulatory shift eases voluntary blending Hydrocarbons regulator ANP is revising the rules for voluntary biodiesel use above the mandatory 15pc blend. Previously, companies needed prior authorization from the agency. With a provisional procedure now in effect, companies only need to notify the agency of their use. The regulator has been aligning its rules with Brazil's Fuel of the Future law to streamline procedures and provide legal certainty for the adoption of these alternatives. Replacing prior authorization with a notification model had long been sought by the industry, according to Abiove. According to Amaral, the process required approvals from different agencies — including the Brazilian environment and renewable natural resources institute Ibama — and could take more than six months to complete. "All these requirements discouraged interest" in the past, Amaral said. By Natalia Dalle Cort Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Assembly talks key to Venezuela elections: Rubio

09/10/26

Assembly talks key to Venezuela elections: Rubio

Caracas, 9 October (Argus) — Productive discussions between Venezuela's duel national assemblies are key to eventually holding new elections there, US secretary of state Marco Rubio said today after meeting with the leader of the opposition-controlled legislature. Head of the 2015-elected assembly Dinorah Figuera "has our 100pc percent support" in working towards electoral reform in Venezuela, Rubio said. The 2015 assembly — the last one the US recognizes as legitimate — and the acting assembly led by the brother of interim President Delcy Rodriguez began a series of reconciliation talks in August that will resume in a third phase on 14 October. The next round is meant to focus on selecting new member of the supreme court, which plays a key role in elections, and guaranteeing political rights, Rubio said. Future talks will seek to reform the national electoral council and repealing laws that repress freedoms. The meeting in Washington DC comes as former hopeful president candidate for the opposition Maria Corina Machado has been unable to return to Venezuela despite expressing a desire to do so. Machado and other members of Venezuela's political opposition that faced arrests and harassment under former leader Nicolas Maduro have called for quick elections after the US seized Maduro on 3 January. Some US oil producers have also pointed to elections as a key sign of long-term stability needed for major investments, but Rubio has repeatedly said that Venezuela's institutions must be stabilized first. A peaceful transition in Venezuela "will require a lot of hard work, a little bit of patience [and] free and fair elections", Rubio said. Acting national assembly leader Jorge Rodriguez has pointed to potential elections in 2030 . Both Delcy and Jorge Rodriguez expect to continue in their roles until at least the end of the administration of US president Donald Trump in 2028, some national assembly sources have said. Protests have broken out in Venezuela in recent weeks, mostly against worsening public services and frequent power outages. The lack of clear results from assembly talks and no roadmap to elections are among other complaints. By Jose Chalhoub Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Brazil’s inflation quickens to 4.58pc in September

09/10/26

Brazil’s inflation quickens to 4.58pc in September

Sao Paulo, 9 October (Argus) — Brazil's inflation accelerated to an annual 4.58pc in September, on broad-based gains led by higher transport, food and beverage costs. The consumer price index IPCA accelerated from 4.22pc in August, national statistics agency IBGE said on Friday. The latest move puts inflation slightly above the central bank's target range of 1.50-4.5pc. Food and beverage costs increased to an annual 4.66pc in September, up from 3.53pc in August. Transport costs increased to an annual 3.94pc in September from 3pc in August. Vehicle fuel inflation rose to 4.97pc from 4.41pc, as global fuel costs surged on the Mideast Gulf war. Housing inflation decelerated to an annual 4.22pc from 4.9pc a month earlier, pushed down in part by the end of the Itapu bonus, which launched in July and reduces electricity bills for residential and rural consumers. Personal expenses slowed to 5.9pc from 6.16pc. Brazil's central bank expects inflation to end 2026 at 5pc, above its 1.5-4.5pc targeted range. Brazil's economic growth has accelerated to an annual 2pc in the second quarter from 1.8pc in the prior three quarter after dropping from a recent high of 4.1pc in the third quarter of 2024. Meanwhile, Brazil's central bank lowered its target rate to 13.75pc in late September. By Mariana Funchal Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Opec+ output hits Iran-war high

09/10/26

Opec+ output hits Iran-war high

London, 9 October (Argus) — Opec+ crude production rose in September to its highest since the US-Iran war began, driven by a surge in exports through the strait of Hormuz. Production by the alliance's 17 members with output targets increased by 2.47mn b/d on the month to 30.24mn b/d, led by gains in Saudi Arabia and Iraq, according to Argus estimates (see table) . But output remained 3.16mn b/d below the group's pre-war production in February and was 4.21mn b/d short of the combined September target of 34.45mn b/d. Opec+ production reached its wartime low in April, when it was 9.3mn b/d below pre-conflict levels. The September increase was driven mainly by Saudi Arabia, which more than reversed a steep fall in August caused by attacks on its shipping and oil infrastructure by Yemen's Iran-backed Houthis and Iraqi militias . Saudi production rose by 2.11mn b/d to 8.55mn b/d, its highest since the war began. The attacks have constrained the country's ability to export through the Yanbu terminal on its western Red Sea coast. Saudi Arabia has responded by significantly increasing east coast exports through the strait of Hormuz. Iraq became the first Mideast Gulf member of Opec+ to fully restore production to its pre-war level. Its output rose by 580,000 b/d to 4.23mn b/d in September, matching February's production. Iraq has offered steep discounts to trading firms that shuttle crude through the southern strait of Hormuz, helping to boost exports. Kuwait's production fell by 80,000 b/d on the month to 1.79mn b/d but remained well above levels earlier in the war. The country has ramped up exports in recent months by deploying its tanker fleet to shuttle crude through the strait. State-owned KPC chief executive Sheikh Nawaf al-Sabah said earlier this week that stronger exports had allowed Kuwait to increase production to 2mn b/d , its highest since the Iran war began. Iranian production fell again as the US navy's blockade of its ports continued to choke off crude exports. Output declined by 110,000 b/d on the month to 1.95mn b/d, leaving it 1.55mn b/d below its pre-war level. Tehran has responded by stepping up attacks on vessels transiting the strait of Hormuz over the past week and appears to have expanded its campaign to shipping elsewhere in the Mideast Gulf and in the Gulf of Oman. The Houthis have also escalated attacks on Saudi facilities. September also marked the completion of the unwinding of voluntary Opec+ cuts by seven core members, although the Iran war has left several producers unable to meet their higher targets. By Aydin Calik Opec+ crude production mn b/d Sep Aug* Sep target ± target Opec 8 17.63 15.14 20.62 -2.99 Non-Opec 9 12.61 12.63 13.84 -1.23 Opec 17 30.24 27.77 34.45 -4.21 Total Opec+ 34.66 32.34 na na *revised Opec wellhead production mn b/d Sep Aug* Sep target ± target Saudi Arabia 8.55 6.44 10.48 -1.93 Iraq 4.23 3.65 4.43 -0.20 Kuwait 1.79 1.87 2.68 -0.89 Algeria 1.02 1.02 1.01 0.01 Nigeria 1.52 1.62 1.50 0.02 Congo (Brazzaville) 0.29 0.29 0.28 0.01 Gabon 0.19 0.21 0.18 0.01 Equatorial Guinea 0.04 0.04 0.07 -0.03 Opec 8 17.63 15.14 20.62 -2.99 Iran 1.95 2.06 na na Libya 1.32 1.40 na na Venezuela 1.15 1.11 na na Total Opec 11^ 22.05 19.71 na na *revised ^Iran, Libya and Venezuela are exempt from production targets Non-Opec crude production mn b/d Sep Aug* Sep target ± target Russia 8.76 8.70 9.95 -1.19 Oman 0.95 0.94 0.84 0.11 Azerbaijan 0.45 0.45 0.55 -0.10 Kazakhstan 1.77 1.90 1.63 0.14 Malaysia 0.29 0.29 0.40 -0.11 Bahrain 0.14 0.10 0.20 -0.06 Brunei 0.09 0.09 0.08 0.01 Sudan 0.01 0.01 0.06 -0.05 South Sudan 0.15 0.15 0.12 0.03 Total non-Opec 12.61 12.63 13.84 -1.23 *revised Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Canadian oil sector to grow in 2027: ATB survey

08/10/26

Canadian oil sector to grow in 2027: ATB survey

Calgary, 8 October (Argus) — Canada's oil sector is expected to grow in 2027 as progress among proposed export pipelines and friendlier policy from Ottawa are expected to outweigh declining benchmark prices, ATB Capital Markets said in its Fall 2026 Energy Sector Survey . The semi-annual survey, released on Thursday, garnered feedback from executives at 91 companies including exploration and production (E&P), energy services and institutional investors. Calgary-based ATB's survey ran from 14-28 September and emulates the Dallas Fed survey in the US. About 96pc of oil companies plan to grow production by 10pc in 2027 compared with 2026 levels, despite an assumption that WTI crude at Cushing, Oklahoma, will fall to $65-75/bl across next year. About half of E&P companies expect to increase total capital budgets. About 84pc of E&P companies said their outlook improved over the past three months and 88pc anticipate the market to improve further in the coming six months. Seven out of 10 energy service companies, meanwhile, indicated an improved outlook over the prior three months with eight in 10 expecting better times in the coming six months. Nearly nine in 10 of those surveyed are encouraged by steps the federal government has taken to support the industry, with a similar number expecting foreign direct investment to rise over the next two years. Institutional investors say they are now more likely to invest in Canada as a consequence of the ongoing US-Iran war that has cut off some Middle East supplies. Nearly 80pc indicated they are either moderately, or significantly, more willing to invest in Canadian energy now. "The background for Canadian energy is the best I've seen since the late 1970s," one institutional investor said. Most also view Venezuela as being a low-impact risk in the next three to five years. But improving sentiment in Canada's oil and gas sector has energy services executives reporting "excess demand" rather than "excess capacity" for the first time since 2022, ATB said. "We continue to see employment constraints in getting well servicing crews to meet customer demand," an energy services executive said, but added this issue is not as significant on the drilling side. While tight oil export capacity has become less concerning for industry with pipeline proposals making either regulatory or commercial progress, getting them built remains a top priority. About 91pc of respondents with a view said the Trans Mountain-led 1mn b/d Pacific Link pipeline will reach a positive final investment decision, as will the related Oil Sands Alliance's Pathways carbon capture project which continues to draw skepticism over its benefits. About 74pc of respondents with an opinion said the Pathways project will either have no impact or be harmful to the industry's competitiveness in the long run. South Bow's 600,000 b/d Prairie Connector is generally expected to also go forward, while respondents were not optimistic about the Ontario-led 500,000 b/d Northern Shield Energy Corridor pipeline. The federal government's commitment to Pacific Link, one-year project approvals and a new accelerated tax deduction would be a "significant tail wind for Canadian oil and gas" should those become a reality, an energy services executive said. The governing Liberal party has come to understand that slow decision-making and being largely reliant on a single customer, the US, has become a weakness amid trade hostilities. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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