Hable con nuestros expertos hoy mismo

Regístrese a continuación y personalizaremos una solución que satisfaga sus necesidades específicas. Cuando hable con uno de nuestros expertos, es posible que esté calificado para probar nuestros productos líderes en la industria de forma gratuita.

Puede cancelar su suscripción a estas actualizaciones en cualquier momento. Argus gestiona la información personal de acuerdo con nuestra Política de privacidad.
Generic Hero BannerGeneric Hero Banner
Latest Market News

Atem to buy Petrobras refinery, RNEST flops: Update

  • Spanish Market: Crude oil, Oil products
  • 25/08/21

Petrobras signed a $189.5mn sales and purchase agreement with Brazilian fuel distributor Atem for the 46,000 b/d Isaac Sabba refinery (REMAN), but the company has suspended a sale process for another refinery after receiving no bids.

Around 60pc of the REMAN refinery's yield is split between diesel and gasoline. Located in the region's capital Manaus, REMAN is connected to a marine terminal and has atmospheric distillation, vacuum distillation and catalytic cracking units. With an NCI rating of 1.8, REMAN is among the least efficient of the refineries that Petrobras has earmarked for sale.

Petrobras received $28.4mn of the sales price today. The remainder, subject to adjustments and regulatory approval, will be made at closing, expected by year-end.

Petrobras says it will continue to support Atem in REMAN's operations for an undisclosed period under a transition contract. A similar agreement was established for operations at the 333,000 b/d Landulpho Alves refinery (RLAM), now under a $1.65bn contract with Abu Dhabi's state-owned investment fund Mubadala.

Atem is the retail market leader in Brazil's northern region overlapping the Amazon river basin, according to data from Brazil oil regulator ANP. The company holds a 22pc market share in the wholesale diesel market, with a total of 652.4 mn l (18,600 b/d) purchased from local refineries and trading companies between January and July 2021. Atem's gasoline sales accounted for 14pc of the region's retail market at 153,8mn l during the period.

Petrobras is expected to sign sales agreements for the the 208,000 b/d Alberto Pasqualini refinery (REFAP) and 8,000 b/d Lubnor refinery by 31 August.

Other refineries in the company's downstream divestment portfolio are due to close by year-end, including 30 October for the 6,000 b/d SIX shale processing unit and the 166,000 b/d Gabriel Passos refinery (REGAP); and 31 December for 208,000 b/d Presidente Getulio Vargas (REPAR).

No takers for RNEST

Petrobras has ended the sales process for the 130,000 b/d Abreu e Lima refinery (RNEST) after interested parties formally declined to present binding offers, the company said in a securities filing today. The firm says it will evaluate the next steps for the refinery. The refinery sale had been among those scheduled to close by 30 October.

Around 60pc of RNEST yield is ultra-low sulfur diesel. The refinery, which boasts an NCI rating of 8.5, also produces low-sulfur fuel oil and green petroleum coke.

The first 130,000 b/d phase at RNEST started production in 2014. Work on a second 130,000 b/d phase was disrupted in the same year by the far-reaching Lava Jato corruption probe, which uncovered massive overbilling for work at the refinery located in the northeastern state of Pernambuco.

RNEST is not the first refinery sales process to be suspended by Petrobras. The company also pulled the plug on the initial process for REPAR earlier this year after two rounds of bidding failed to produce a satisfactory offer. The company says it is still defining the next steps for the unit.

In 2019, Brazil's anti-trust agency Cade and Petrobras reached an agreement obligating the firm to sign the sales agreements by the end of 2020 and close all agreements by 2021. A revised agreement maintains the year-end date for closing the sales, a timeline that could be difficult to meet in light of market conditions.

The refinery sales are part of Petrobras' $25bn-$35bn 2021-25 asset disposal campaign.

By Nathan Walters and Amance Boutin

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

20/12/25

US seizes another Venezuelan tanker

US seizes another Venezuelan tanker

Washington, 20 December (Argus) — The US Coast Guard on Saturday detained another Venezuelan tanker, making good on President Donald Trump's pledge to stop most shipments of Venezuelan crude. US homeland security secretary Kristi Noem, who oversees the Coast Guard, announced the seizure via a social media post, without releasing the name of the tanker. "The United States will continue to pursue the illicit movement of sanctioned oil that is used to fund narco terrorism in the region", Noem wrote. The US Coast Guard on 10 December seized a Venezuelan tanker with a cargo of crude destined for Cuba. Trump on 16 December declared a blockade of Venezuelan tankers previously placed on the US sanctions list and demanded that Venezuela "return to the US all of the oil, land and other assets that they previously stole from us". The tanker seized on 10 December was on the US sanctions list. Caracas has reacted by ordering Venezuelan naval vessels to escort tankers in the country's territorial waters. The US naval vessels have kept to international waters off Venezuela's coast. Little crude tanker traffic has moved out of Venezuela's main ports since the 10 December seizure of the Venezuelan tanker, with the exception of cargoes chartered by Chevron and a few other foreign oil majors working with state-owned oil firm PdV, industry and government sources say. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trinidad not part of US blockade of Venezuela: PM

19/12/25
19/12/25

Trinidad not part of US blockade of Venezuela: PM

Kingston, 19 December (Argus) — Trinidad and Tobago is not involved in the US blockade of oil tankers entering and leaving from neighboring Venezuela, prime minister Kamla Persad-Bissessar said on Thursday. She rejected a Venezuelan government claim that her country is part of US president Donald Trump's current campaign against Venezuelan president Nicolas Maduro, and that it is supporting "the theft of Venezuelan oil." "We have no intention of engaging in any war with Venezuela," Persad-Bissessar said. But Trinidad's foreign ministry said on 15 December that the US is using the country's two airports for "logistical activities," including resupply for US operations and personnel rotations. Venezuelan vice-president Delcy Rodriguez accused Persad-Bissessar of being "hostile" to Venezuela, saying she "has turned her country into a US aircraft carrier to attack Venezuela, in an unequivocal act of vassalage." The US has stationed a large naval force in the waters near Venezuela since September and has destroyed several small boats in the area it said were carrying drugs, killing more than 80 people. Trump said in November he would order land strikes against Venezuela soon, and the US seized a tanker carrying Venezuelan crude earlier this month. Trinidad's rejection of the Venezuelan claims follow a standoff between the hydrocarbon producers over agreements to develop an offshore natural gas field in Venezuelan waters close to their maritime border that has an estimated 4.3 Tcf in reserves. Trinidad described a Venezuelan decision to terminate all natural gas supply contracts with it as "propaganda". The southwestern tip of gas-short Trinidad is 11 miles from Venezuela's north coast, and the country has been seeking gas from Venezuelan offshore fields to support up declining domestic output. By Canute James Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Mexico central bank cuts target rate to 7pc

19/12/25
19/12/25

Mexico central bank cuts target rate to 7pc

Mexico City, 19 December (Argus) — Mexico's central bank cut its benchmark interest rate by 25 basis points to 7pc, its lowest level since June 2022, maintaining a slower pace in the easing cycle on inflation concerns. The decision marked the eighth rate cut this year and the fourth quarter-point reduction following four consecutive half-point cuts. This year's cuts follow five quarter-point cuts in 2024 from a cyclical peak of 11.25pc in March. The board approved the cut in a 4-1 vote, with deputy governor Jonathan Heath dissenting in favor of holding the rate at 7.25pc. Heath has been the lone dissenter in the past five decisions, consistently urging greater caution. The central bank said the decision reflected "the behavior of the exchange rate, the weakness of economic activity and the possible impact of changes in global trade policies," repeating language used in its last four statements. Gabriela Siller, chief economist at Banco Base, pointed to a "significant change" in the bank's forward guidance, noting a shift toward a less dovish tone. The board said it "will consider when to make further adjustments" to the policy rate, replacing the "will consider cutting" language used in November. Mexican bank Banorte also said the central bank struck a less dovish tone, pointing to a change in its forward guidance. Annual inflation rose to 3.8pc in November from 3.57pc in October, according to statistics agency Inegi. Core inflation, which excludes volatile food and energy prices, accelerated to 4.43pc from 4.28pc. The central bank now sees headline inflation ending 2025 at 3.7pc, up from 3.5pc in its November forecast, while core inflation is projected at 4.3pc, revised from 4.1pc. It also raised its headline and core forecasts for the first two quarters of 2026, while maintaining that both will converge to its 3pc target by the third quarter. The bank said the revisions mainly reflect a "more gradual-than-expected" easing in services inflation, along with a smaller contribution from accelerating consumer goods prices. The board also addressed recent tax reforms, which it expects will have a temporary and not necessarily proportional impact on prices, adding it will update its forecasts as it conducts a comprehensive assessment of the revised tax code's effects. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Viewpoint: Bitumen markets eye pockets of demand

19/12/25
19/12/25

Viewpoint: Bitumen markets eye pockets of demand

London, 19 December (Argus) — Paving activity may strengthen in some European and north African markets in 2026, but several others are expected to see continued declines in bitumen demand. Germany could lead any recovery, market participants said, as a new government plans to expand and maintain the road network. The country — once Europe's bitumen powerhouse — had a weak 2025, but paving work is expected to lift consumption from mid-2026. German bitumen demand has fallen by more than 20pc since 2021, while France and the UK are down by over 25pc in the same period. Budget constraints and high inflation drove these declines. Sweden, Norway and Denmark — already demand drivers in 2025 — could strengthen further in 2026. Road budgets are set to rise as governments prioritise infrastructure and the value of well-maintained highways, possibly linked to higher defence spending as Nato strengthens in Europe. North Africa has also drawn European Mediterranean surplus cargoes , and market participants expect demand from the region to increase next year, led by Algeria, Morocco and some Libyan consumption. Elsewhere, there is little cause for optimism. In France, most participants expect 2026 demand to be weaker than in 2025. With the government beset by regular upheaval and parlous public finances, road spending seems an unlikely priority. Several other northwest and central European countries will also see steady to lower bitumen consumption in 2026. Meanwhile, prospects for a peace deal between Ukraine and Russia remain slim, so a large upswing in Ukrainian import demand looks unlikely next year. Export opportunities outside Europe also appear limited, as Asia-Pacific and the Middle East remain well supplied and demand there stays slow. South Africa, now reliant on imports, is more likely to source from the Mideast Gulf or Pakistan than from the Mediterranean. The prospects of shipping product to the US could improve in the coming months, with Mediterranean bitumen values currently firm relative to crude and fuel oil. But large volumes seem unlikely. Some Mediterranean cargoes moved to the US last year, but the trend was short-lived. In the bitumen freight market, several new larger tankers will enter service in 2026, increasing vessel availability in what will still be a weak market. This could weigh on freight rates but help offset higher costs from the EU ETS scheme, which comes fully into effect in 2026 after its 2024 implementation. Bitumen prices fell in 2025 and are expected to stay under pressure through winter, before seasonal gains from March 2026. Markets should see greater strength relative to fuel oil in summer as bitumen demand typically rebounds then. Demand for bitumen was generally weaker across most European countries in 2025 than in 2024, weighing on prices. Budgets came under pressure and political challenges contributed to a lack of focus on infrastructure and road maintenance spending. Bitumen prices hit historic lows in 2025, partly offsetting inflation-driven increases in building, equipment and material costs. By Jonathan Weston Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US House passes bill to expedite permitting

18/12/25
18/12/25

US House passes bill to expedite permitting

Washington, 18 December (Argus) — The US House of Representatives on Thursday approved a bill designed to fast-track permitting for energy projects and reduce related litigation risks. But a last-minute change Republicans made to exclude some offshore wind and solar projects led some Democrats and a major clean energy group to withdraw support, complicating the bill's chances of passage in the Senate. The Republican-controlled House voted 221-196 to pass the SPEED Act, with 11 Democrats crossing the aisle to vote for what would be the most significant changes to federal permitting in years. The bill will now advance to the US Senate, where proponents will likely need to agree to make significant changes if they hope to pick up the votes of at least seven Democrats to avoid a filibuster. The bill "finally brings common sense by cutting red tape that dramatically increases the cost and, in some cases, just makes it economically unfeasible to do projects", House Republican majority leader Steve Scalise (R-Louisiana) said. The SPEED Act focuses on revising project reviews under the National Environmental Policy Act (NEPA), which is a source of delay and litigation risk for pipelines and renewable projects alike. The bill would require federal agencies to narrow those reviews and uphold those decisions even if federal courts find them to be inadequate. The bill would also provide permit "certainty" by limiting the government's ability to rescind prior approvals, averting a repeat of events like the cancellation of the Keystone XL pipeline. "We applaud the House for advancing the SPEED Act, a bipartisan, commonsense step toward fixing a federal permitting system that's long been broken," oil industry group the American Petroleum Institute said. Republican leaders were hoping 30-40 Democrats would join them to support the SPEED Act. The bill had broad bipartisan support when it was drafted because of provisions meant to prevent permitting delays that have plagued both oil and gas pipelines and renewable energy development. But Republican leaders, to satisfy far-right conservatives, made a change to the bill earlier this week that would prevent its expedited permitting procedures from benefiting any project that Trump's administration has blocked or revisited since 20 January. The Trump administration has targeted multiple offshore wind and solar projects this year and has ordered the developer of the nearly complete 704MW Revolution Wind project off the coast of Rhode Island to stop construction. That change fractured a bipartisan coalition that had spent months working on technology-neutral permitting language. The American Clean Power Association, the largest industry group for US renewable energy, on Wednesday withdrew its support of the bill , arguing the "poison pill amendment" that Republicans made eviscerated bipartisan language that gave expedited permitting treatment for all types of energy resources. A number of House Democrats who had backed the bill also withdrew their support. American Clean Power plans to work with both parties in the Senate to make changes. "This is not the final draft," representative Scott Peters (D-California) said during floor debate Thursday, vowing to work with his colleagues in the Senate to address House Democrats' concerns. By Chris Knight and Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Argus Specialised Freight

Argus Specialised Freight

Datos, perspectivas y herramientas únicas para ayudar a gestionar los riesgos de flete en los mercados de biocombustibles, materias primas renovables y productos químicos

Argus Asia Crack Spread Forward Curves

Argus Asia Crack Spread Forward Curves

Herramienta de valoración de mercado independiente para respaldar las decisiones de inversión y negociación en los mercados asiáticos del petróleo.

Argus Russian Domestic Crude Market

Cobertura detallada del mercado nacional de crudo ruso.

Argus US Crack Spread Forward Curves

Herramienta de valoración de mercado independiente para respaldar las decisiones de inversión y negociación en todos los mercados de petróleo norteamericanos.

Argus Tanker Freight

Datos, información y herramientas únicas para gestionar los riesgos de flete en petróleo crudo, productos refinados y biocombustibles.
Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more