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Latest Market News

Japan firms to make ethylene from waste-based ethanol

  • Spanish Market: Biofuels, Petrochemicals
  • 13/04/21

Japanese chemical firms Sumitomo Chemical and Sekisui Chemical are moving forward with a project to convert plastic waste into polyolefin, targeting to start up a pilot plant to produce ethylene as a first step.

Sumitomo has engaged Japanese plant engineering firm Toyo Engineering to build a demonstration plant to produce ethylene from ethanol made from plastic waste. The pilot facility will be located at Sumitomo's Chiba plant near Tokyo, with commissioning scheduled for some time during the April 2022-March 2023 fiscal year. Sekisui will supply unspecified volumes of plastic waste-based ethanol to the pilot plant. The output capacity of the ethylene plant has not been disclosed.

Demand for plastic waste recycling is expected to increase in the industry sector, as it has become abundant and poses a serious threat to marine life. Recycling plastic waste to produce fuels will also help reduce dependence on fossil fuels and refined products, such naphtha use in the petrochemical industry. Japanese chemical firms used around 4.7mn bl of naphtha in 2020, down by 5pc from a year earlier, according to data from the country's trade and industry ministry.

The two chemical firms have been co-operating on the circular economy project since last February, aiming to make the most of Sekisui's new technology, developed in December 2017, that can convert plastic waste into ethanol. The project partners plan to start trial production in 2022-23 and begin normal operations in 2025-26.

By Motoko Hasegawa

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24/06/26

Texas renewable diesel flows up as Calif. demand eases

Texas renewable diesel flows up as Calif. demand eases

Seattle, 24 June (Argus) — Renewable diesel producers along the US Gulf coast are increasingly selling into the Texas ultra-low sulphur diesel (ULSD) market as bulk demand slows across California — the largest R99 market in the country — in tandem with record-high US output of the fuel. Renewable diesel production at US biorefineries in May hit an all-time high of about 6.86mn bl, part of a steady increase since the beginning of the year following the implementation of record-high biofuels blending targets, according to the latest RIN generation data from the Environmental Protection Agency (EPA). Higher run rates through the second quarter, compounded by elevated and volatile diesel prices across the country, made California buyers hesitant to commit to high-volume R99 spot purchases as the market faced fresh supply. But Texas's 20¢/USG diesel excise tax abatement, applicable to renewable diesel, appears to have thrust the state — particularly Houston's fob truck spot market — into the spotlight as an attractive secondary supply outlet. Local market participants have cited R99 on offer from various Gulf coast producers throughout June, with the tax abatement now making renewable volume competitive with conventional ULSD in the region. Offers for R99 fob truck in Houston as recently as Wednesday morning were heard at July Nymex ULSD +9¢/USG, which a number of sources said represented about a 5¢/USG discount versus conventional ULSD once accounting for the excise tax abatement. Spot R99 via the pipeline in California by comparison last traded at double-digit discounts, 35¢/USG and 80¢/USG, respectively, to the corresponding Los Angeles and San Francisco CARB complexes (conventional in-state CARB diesel + attributes). By Jasmine Davis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Paraguay sets biodiesel blend at 8-10pc

23/06/26
23/06/26

Paraguay sets biodiesel blend at 8-10pc

Sao Paulo, 23 June (Argus) — Paraguay's industry and commerce ministry has set the country's mandatory biodiesel blend at 8-10pc, giving the market its first operational benchmark under the new biofuels framework. The decision, reached on 19 June, marks the government's first concrete move following this year's legislative change to Paraguay's biodiesel regime , which expanded the legal blending range to 5-20pc. By setting the initial operating band at 8-10pc, the government is moving above the previous mandate while stopping well short of the new statutory ceiling. The blend takes effect 30 days after its approval. The ministry framed the higher blend as part of a broader strategy to displace imported fuels with domestically produced biofuels, saying the shift would deliver economic and environmental gains, strengthen energy security and support efforts to mitigate climate change. The text also underscores the government's intention to provide the biofuels sector with a more predictable framework for investment. Paraguay's biofuels industry welcomed the decision. In a 23 June statement, the Paraguayan Chamber of Biofuels and Renewable Energies (Biocap) said the regulation marks an important step toward a more diversified energy matrix, greater national energy security and lower dependence on imported fuels. Biocap also said Paraguay has installed industrial capacity, feedstock availability and technical know-how to support further growth in biofuels. The industry group also sought to address compatibility concerns around higher blends, saying international experience shows biodiesel blends that comply with existing quality specifications are compatible with the normal operation of diesel engines. Biocap added that fuel quality and compliance with technical standards will be critical for sustainable sector growth. By Flavia Alemi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Middle East EDC output remains low post-Iran ceasefire

23/06/26
23/06/26

Middle East EDC output remains low post-Iran ceasefire

Singapore, 23 June (Argus) — Middle East ethylene dichloride (EDC) production remains constrained heading into the third quarter despite the US-Iran ceasefire and the reopening of the strait of Hormuz, as producers face persistent vessel congestion, high inventories, and weak vinyl chloride monomer (VCM) and polyvinyl chloride (PVC) spot prices, market participants said. Before the US-Iran war, most Middle Eastern EDC suppliers were already running at reduced rates because of weakening chlorine netbacks into EDC and lower demand from the PVC sector. Most producers were either catering for EDC contractual supplies, or for their respective PVC production, rather than supplying the EDC spot market. Asian chlorine netbacks into EDC were assessed at -$86.30/t and -$76.51/t in January and February 2026, respectively, according to Argus data. Following the onset of the war, the closure of the strait of Hormuz made it uneconomical for domestic EDC producers to keep running since vessels could not leave the strait and domestic inventories piled up. QatarEnergy declared force majeure on deliveries of several chemical products on 9 March, while two Saudi EDC producers reduced rates heavily as they were unable to reach certain customers in south Asia. Since then, Argus suspension PVC (s-PVC) import prices into India, Vietnam and the Gulf Cooperation Council (GCC) have fallen by 35pc, 39pc, and 21pc, respectively, as of 19 June from their peaks on 20 March. May VCM monthly spot prices also saw declines of 20pc in northeast Asia and 29pc in southeast Asia, with recent indications pointing to further drops in June. This would bring both current PVC and VCM prices close to historical lows since before the US-Iran war, leading Middle Eastern EDC producers to reconsider increasing operating rates even as feedstock costs declined and the strait reopens. Most EDC producers are currently focusing on destocking efforts before ramping up production rates, but many expect that this will take time and likely determined by how quickly vessel congestion along the strait eases. Concerns from India remain surprisingly low Middle Eastern EDC supply primarily flows into India, as many PVC producers there rely on imported EDC feedstocks for their production. Total EDC imports into India in 2025 were 690,926t, with the Middle East contributing 51pc of the total, data from Global Trade Tracker (GTT) show. As a precautionary measure over the war-related uncertainty and reliability of feedstock supplies, the Indian government introduced duty waivers across different imports — including PVC — and the prioritisation of feedstock LPG output across certain sectors. But despite a potential delay in the resumption of EDC supply from the Middle East, along with other key feedstocks, Indian PVC producers are not so concerned over EDC supply security as some secured enough imports to meet more than three months of domestic demand. While current GTT data for 2026 is slightly delayed, EDC imports from western Europe into India between January and April 2026 were 57,776t — more than half of the full-year total for 2025. This could lead to a potential reintroduction of PVC import duties into India beyond 30 June to control overseas supplies into the country, with senior government officials recently investigation a potential extension to duty waivers before the ceasefire . But a decision has yet to be made on this, with market participants expecting further announcements from the government in the coming days. By Michael Vitiello India EDC imports '000t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

US issues Iran oil sanctions waiver

22/06/26
22/06/26

US issues Iran oil sanctions waiver

Washington, 22 June (Argus) — The US will allow unlimited sales of Iranian crude, refined and other petrochemical products until 21 August, in another concrete step toward implementing the US-Iran deal signed on 18 June. Buyers can pay in US dollars for the Iranian oil, freight services and insurance, according to the terms of a general license issued on Monday by the Treasury Department's sanctions enforcement arm, the Office of Foreign Assets Control (OFAC). The OFAC license follows a round of direct US-Iranian talks in Switzerland on Sunday, which made "very good progress", according to US vice president JD Vance, who led the US delegation. The length of the sanctions waivers matches the 60 day period set by the US-Iran "memorandum of understanding" to complete negotiations on Iran's nuclear program, the status of the strait of Hormuz and other issues. The US-Iran interim deal allows for an extension of negotiations beyond the 60 day period, which could also result in another extension of the Iran sanctions waivers. Conversely, a breakdown in the US-Iran relations could result in the waiver being terminated ahead of the deadline. The OFAC license spells out in great detail all transactions associated with the sale, transportation and offloading of Iranian crude and products and allows shipping Iranian oil on tankers that are on the US sanctions list. It does not lift sanctions on the Iranian sellers, but waives the application of sanctions on the buyers. The license allows the provision of services for transporting Iranian oil, including "vessel management, crewing, bunkering, piloting, registration, flagging, insurance, classification and salvage". The OFAC license even allows imports of Iranian oil into the US, for subsequent trans-shipment. Before the war, most Iranian crude went to a narrow group of customers in China's independent refining industry who appeared to be unbothered by the effect of US sanctions. With waivers in place, China's state-controlled companies and buyers in India and other countries in Asia could be motivated to buy Iranian crude. For now, even lower prices in the past week have not spurred buying interest from the Chinese companies. Many buyers likely will remain wary of taking advantage of the availability of Iranian crude and products, due to the 60 day term of the sanctions waiver and the possibility that confrontation between the two countries could flare up again, resulting in the snapback of sanctions. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Methanol-to-jet nears ASTM approval in SAF supply boost

19/06/26
19/06/26

Methanol-to-jet nears ASTM approval in SAF supply boost

London, 19 June (Argus) — Methanol-to-jet (MTJ) fuel is nearing full approval for use in commercial aircraft, potentially opening a major new route for producing sustainable aviation fuel (SAF) from renewable methanol. The MTJ pathway has passed the key stages of the process by ASTM International, the industry body that approves new fuel for use in aircraft. Industry sources expect remaining formalities to be completed in coming weeks. ASTM's committee recently approved Honeywell's MTJ pathway, the US-based technology provider said this week. This could unlock SAF production from feedstocks such as biomethanol and e-methanol, broadening supply beyond the waste oils and fats used in most SAF production. But the development extends beyond Honeywell. Its technology and fuel samples were used in the qualification work, but the MTJ pathway would be available to all producers operating within the approved specification, when that is adopted by ASTM. The MTJ pathway has passed balloting within ASTM and limited comments remain to be resolved, according to participants. They expect remaining approval steps to be completed at ASTM meetings in Chicago next week, paving the way to include the pathway the next time the organisation revises its D7566 aviation fuel standard. ASTM was not immediately available to confirm the news. The organisation typically confirms pathway approvals when it updates its standard. Honeywell expects the public update to come in July, Honeywell UOP president Rajesh Gattupalli told Argus . New aviation fuel pathways must undergo extensive testing and review before they can be approved. The MTJ process has taken several years. The approval removes one of the main technical barriers facing MTJ and allows the sector to focus on project economics and investment decisions. Until now, lack of ASTM approval has held companies back from taking commercial decisions. "No bank is going to give you a loan without an ASTM certification. No government is going to give you an incentive without an ASTM certification," Gattupalli said. "You don't get an offtake from any airline company without an ASTM certification." Honeywell has licensed its technology to multiple developers, which have been lining up offtake deals, financing, and incentives while waiting. ASTM approval allows them to "move to the next stage," Gattupalli said. The licensor sees most MTJ traction in Europe, where mandates have been spurring demand for SAF, and in China and India, where producers can benefit from strong potential in renewables, he said. Some companies plan to make biomethanol from biomass-derived syngas, while others eye e-methanol from renewable hydrogen and captured CO2. Some hybrid projects would make a mixture of both. By Aidan Lea Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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