Amapá cancela regime especial de ICMS
O Secretário da Fazenda (Sefaz) do Amapá (AP) cancelou ontem o regime especial de tributação de empresas importadoras de combustíveis, colocando um fim a uma situação que gerava distorções de preços no mercado de diesel.
A decisão do órgão foi publicada no diário oficial desta quarta-feira, dia 17, e contempla os regimes especiais do tributo estadual ICMS de oito empresas, entre elas a Refinaria de Manguinhos, que pertence ao grupo Fit, Amapetro, Axa Oil, Alba Trading e Father Trading.
No caso da Amapetro, a empresa pagava uma alíquota efetiva de 4pc do valor da importação nas compras de outros países para uso próprio para consumo dentro do estado. Considerando a média do indicador Argus de importação de diesel de origem russa ao longo de março, isso equivaleria a R$136,9/m³.O valor atual do ICMS nos outros estados brasileiros é de R$1.063/m³ desde 1 de fevereiro.
O estado teria importado 197.244m³ de diesel em março, de acordo com informações do Ministério do Desenvolvimento, Indústria, Comércio e Serviços (MDIC). Isso equivale a 15,9pc do total de diesel importado pelo Brasil no mês. O consumo de diesel A do estado foi de 6.250m³ no mês passado, equivalente a 0,1pc do consumo nacional, de acordo com os dados da Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP).
As autorizações do estado criavam distorções de preços no mercado e perdas de arrecadação fiscal em várias estados onde o produto acabava sendo consumido.
Associações de produtores e distribuidores de diesel vinham pressionando o poder público nos últimos meses para derrubar esses regimes especiais.
De acordo com o Instituto Combustível Legal, a medida causou um prejuízo de R$1 bilhão aos estados onde o combustível importado no âmbito do regime especial era efetivamente consumido, citando os estados de São Paulo, Paraná e Pernambuco como principais destinos.
No início do mês, a Refina Brasil, que reúne as refinarias de petróleo independentes do país, estimou que o contribuinte amapaense pagava um valor próximo a R$0,83/l em subsídios para importadores.
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Citgo auction result delayed amid last-minute motions
Citgo auction result delayed amid last-minute motions
Houston, 18 September (Argus) — The US court-appointed special master overseeing the auction of US refiner Citgo plans to object to a last-minute motion from the Venezuelan government to delay the sale process by four months. The Republic of Venezuela and state-owned oil company PdV filed a motion on Tuesday seeking a four-month pause in the sale of its refining subsidiary Citgo, which is being auctioned off to satisfy debts owed by PdV. Special master Robert Pincus said in a court filing today that he intends to object to Venezuela's motion for a pause. The last-minute motion from Venezuela comes days after the US District Court for the District of Delaware was expected to announce results of the winning bidder. The court asked for a second extension to the auction process in August, delaying announcing a successful bidder to on or about 16 September with a sale hearing on 7 November. But Pincus is now dealing with last-minute legal challenges filed last week outside of the Delaware courts by so-called "alter ego" claimants seeking to "circumvent" the Delaware court's sales process and "jump the line" for enforcing claims against PdV, the special master said in a filing last week. Bidders for Citgo's 804,000 b/d of refining capacity, terminals, retail fuel stations and other plants expect the assets to be sold free and clear of future claims by PdV creditors. Unresolved legal liabilities could lower the value bidders are willing to pay for Citgo, decreasing the pool of money available to those owed by PdV. By Nathan Risser Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Advanced Fame marine biodiesel blends hit 9-month low
Advanced Fame marine biodiesel blends hit 9-month low
London, 18 September (Argus) — Some marine biodiesel blend prices in northwest Europe hit a year-to-date low on 17 September, owing to soft fundamentals and easing values in underlying markets. Argus assessed the prices of B30 and B100 Advanced fatty acid methyl ester (Fame) 0 dob ARA — which include a deduction of the value of Dutch renewable fuel tickets (HBE-G) — at $674.01/t and $993.87/t, respectively. At these levels, the two blends were at their lowest outright price since 29 December last year — right before values rose sharply following the halving of the Dutch HBE-G multiplier for maritime blending at the start of the year. Prices have slipped on the back lacklustre demand for marine biodiesel blends in recent months. The price of EU Emissions Trading System (ETS) allowances, for which Advanced Fame marine biodiesel blends receive a zero emission factor, have averaged $70.56/t so far this year, compared with $93.43/t in the same period last year. Consequently, the expansion of EU ETS into the shipping sector has done little to financially incentivise the uptake of marine biodiesel blends this year. On the other hand, voluntary demand for marine biodiesel blends has been steady from shipowners seeking to deliver proof of sustainability (PoS) documentation to their customers to offset the latter's scope 3 emissions. But this may have shifted geographically in recent months in favour of Singapore over ARA. Soft fundamentals in the marine biodiesel blend market has been compounded by pressure on prices in underlying crude and biodiesel markets. The front-month Ice Brent crude futures and gasoil futures contracts hit a near three-year low at 16:30 BST on 10 September. This in turn weighed on values of very-low sulphur fuel oil (VLSFO) and marine gasoil (MGO), and the former makes up 70pc of the B30 Advanced Fame dob ARA blend. VLSFO dob ARA prices have averaged $505.58/t so far in September, compared with $533.38/t on 1-18 August, having hit $483/t on 10 September, the lowest level since August 2021. Meanwhile, in the underlying biodiesel market, Advanced Fame 0 fob ARA prices were at the second-lowest level on record on 17 September, with the price marked at parity to used cooking oil methyl ester (Ucome) for the first time. Several market participants have said that low prices for German greenhouse gas (GHG) quota tickets, which can be traded on the market to meet the country's emissions reduction mandate, have discouraged buyers from physically blending advanced biodiesel, as tickets are a cheaper option. The current year GHG other ticket price hit a new historic low of $85/t CO2 equivalent (CO2e) on 13 September, down by $115/t compared with the same time last year and by $378/t compared with two years ago. Provisional EU anti-dumping duties on Chinese-origin biodiesel that came into force on 16 August have also turned European buyers away from advanced product made in China, which used to be one of the main sources of advanced biodiesel in Europe. By Hussein Al-Khalisy and Simone Burgin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
EPA already at work on 2026-forward RFS rules
EPA already at work on 2026-forward RFS rules
Monterey, 17 September (Argus) — The Environmental Protection Agency (EPA) has started work on the second set of rules for the Renewable Fuel Standard (RFS), expected to span multiple years beginning in 2026, a spokesperson said today. The rule will likely establish renewable volume targets for multiple years under the RFS, although the exact timeframe has not been confirmed, EPA deputy office director Ben Hengst said today at the Argus North American Biofuels, LCFS and Carbon Summit in Monterey, California. Work on the incoming rule was originally not expected to begin until early 2025. Updated analysis, especially regarding advanced biofuels and feedstocks, will inform new rulemaking, as well as the inclusion of regulatory changes intended to improve the program's implementation, Hengst said. Unprecedented growth in US biofuels imports led overall advanced biofuel supply in 2023 to far surpass EPA projections. But biomass-based diesel volumes for the current rules were based on projected growth in North American feedstock supply — not international availability nor the nameplate capacities of US refineries, Hengst said. There were also large increases in imported feedstocks for biofuel production, namely in used cooking oil and tallow. But the potential for an upset in global trade flows remains an agency concern. Domestic policy in some countries could boost offshore consumption of feedstocks and finished fuels that have arrived to the US market in recent years, while the US policy environment itself remains vulnerable to change. The EPA is also navigating recent adverse judgments against its interpretation of the Small Refinery Exemption program and is prioritizing the development of options that would comply with court orders. There was no clarity provided on eRINs as the EPA continues to consider its options. By Jasmine Davis Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
US regulatory clarity vital to sustain biofuels growth
US regulatory clarity vital to sustain biofuels growth
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