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Oversupply drops Germany's E5 gasoline prices

  • Spanish Market: Oil products
  • 27/05/24

The end of this year's maintenance season and a general oversupply are pushing down E5 gasoline prices in Germany. Meanwhile, dumping prices for diesel in the south and east are causing disruptions.

Traders are offering E5 gasoline at significantly lower prices at the end of May than in April. The prices in the past week, which were €4.60/100l lower than last month, have dropped because the maintenance season in Europe is largely over and refineries have resumed production. At the same time, imports are increasing.

Gasoline cargo imports from trading hub Amsterdam-Rotterdam-Antwerp to Germany steadily increased in recent weeks. German seaports received 8,500 b/d in May, according to data from Vortexa. German gasoline exports by cargo were down to 3,700 b/d.

At the same time, market participants in the south and east are struggling to understand the unusually large price differences in the respective regions. According to traders, some sellers have been offering diesel with free delivery since at least the end of 2023, with prices €4-6/100l below domestic price quotations and thus far below usual purchase prices. As a result, other traders cannot compete.

Furthermore, various customs offices have been made aware of this price discrepancy and asked to investigate, but a result is still pending, market participants said. The General Customs Directorate cannot not provide information on any ongoing investigations, it told Argus.

The companies that offer diesel so cheaply have only been active for a short time or were not previously active in the oil market. Two of them confirmed to Argus that they sell diesel below domestic price levels, but did not provide information on who exactly imports the goods to Germany and puts them on the market, meaning who is responsible for the energy tax, EBV contribution, CO2 levy and THG costs. It was just typical trading business, they said.


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29/01/25

Sydney Airport transits up by 7pc in 2024

Sydney Airport transits up by 7pc in 2024

Sydney, 29 January (Argus) — Passenger numbers rose on the quarter and year at Australia's Sydney Airport in October-December, but remain behind pre-Covid-19 levels, meaning jet fuel demand is likely to be higher in 2025. Total transits at the nation's busiest airport were up by more than 500,000 on a year earlier in the quarter, aided by a 7pc rise in international passengers, while domestic numbers were up by 4pc. Numbers were also up in 2024 compared with 2023's annual figure, again aided by a 12pc rise in international terminal passengers, while domestic numbers rose by just 4pc. Total transits of 41.39mn were 7pc higher than a year earlier but are still 7pc below 2019 levels, the last full year before pandemic-era travel restrictions resulted in Sydney's figures dropping by 75pc in 2020 . Passenger traffic at Australia's Melbourne Airport — the nation's second busiest — rose by 7pc on the year in 2024 to 35.75mn , 5pc below 2019's 37.45mn. Jet fuel sales rose by 11pc in the first 11 months of 2024 to 160,000 b/d, with November the latest month for which data from Australian Petroleum Statistics are available. The figure was 161,000 b/d in January-November 2019, suggesting further growth in jet fuel demand is possible this year. By Tom Major Sydney Airport passenger traffic mn Oct-Dec '24 Jul-Sep '24 Oct-Dec '23 2024 2023 2019 q-o-q % ± y-o-y % ± 2024 vs 2023 % ± Total 11 10.3 10.5 41.4 38.7 44.4 6 5 7 International 4.4 4 4.1 16.3 14.5 16.9 8 7 12 Domestic 6.7 6.3 6.4 25.1 24.1 27.5 5 4 4 — Sydney Airport Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US tariffs could shift Mexican HSFO to Panama


28/01/25
28/01/25

US tariffs could shift Mexican HSFO to Panama

New York, 28 January (Argus) — Proposed US tariffs on Mexican goods would raise US costs for Mexican high-sulphur fuel oil (HSFO), potentially shifting flows of the country's marine fuel to the Central American bunkering hub of Panama. US president Donald Trump has said he will impose 25pc import tariffs on goods from Mexico. US oil companies are asking Trump to exclude oil from tariffs , but it is unclear whether Trump will oblige. Mexico's residual fuel oil exports reached a record high of 218,059 b/d in the first 10 months of 2024, according to data from Mexican state-owned Pemex. The US took most of Mexico's residual fuel oil exports during that period, importing 145,830 b/d from its neighbor, including 124,341 b/d that went to the US Gulf coast, according to US Energy Information Administration data. Should Trump implement the 25pc tariffs, companies bringing Mexican residual fuel oil to the US could reduce bids in effort to recoup their tariff costs. But lower bids could prompt Mexican exporters to redirect some of residual fuel oil to buyers in Panama, northwest Europe and Singapore. If the price makes sense, Panama bunker suppliers could displace some of their US Gulf coast import barrels with Mexican barrels, as Panama suppliers "are constantly out there hunting for the best price available in the international market", a Panama supplier told Argus . Panama's HSFO bunker demand averaged 25,466 b/d (1.19mn t) in January-October 2024. The country does not have an operational refinery and is dependent on imports for all its oil product needs. Panama received the bulk of its residual fuel oil shipments from Mexico, the US Gulf coast and Peru, according to ship tracking data from Vortexa. Trump has also promised unspecified actions to take control of the US-built Panama Canal in response to what he says has been unfair treatment of US ships, a claim that Panama president Jose Raul Mulino has rejected. By Stefka Wechsler Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Lootah Biofuels to collect UCO from UAE households


28/01/25
28/01/25

Lootah Biofuels to collect UCO from UAE households

Dubai, 28 January (Argus) — Dubai-based biofuels producer Lootah Biofuels will launch a smart app in coming months to facilitate the collection of used cooking oil (UCO) from households and businesses in the UAE. Lootah plans to increase and simplify the collection of UCO, which currently stands at 300,000 litres/month. The company wants to encourage "individuals and families to actively participate in collecting and safely disposing used cooking oil at designated collection points." Lootah Biofuels aims for the recycling of UCO to reach 80pc in the coming years, up from less than 50pc currently — largely sourced from restaurants and the hospitality sector. Lootah Biofuels' plant is the largest in the Middle East, producing 53,000 t/yr of biodiesel, which it supplies to the local transportation and aviation market and exports to the Netherlands, the UK, Germany and India. Lootah Biofuels signed an agreement with Malaysian biofuel feedstock supplier FatHopes Energy in 2023 to collaborate on supplying sustainable aviation fuel (SAF) to Dubai's aviation sector and establishing a Malaysian used cooking oil (UCO) aggregation hub. Bunker hopes Bunker market participants in Fujairah, UAE, the world's third largest marine fuels centre, hope the potential production increase will boost availability of B24 — which consists of 24pc used cooking oil methyl ester (Ucome) and 76pc very low sulphur fuel oil (VLSFO). The Fujairah bunker market has been facing competition with other industry sectors over limited supplies. Bunkering B24 has been slow in Fujairah, with sporadic demand emerging. "There is just one customer who periodically asks for B24, which is not always available," a Fujairah trader said. Still, bunker sellers expect regional demand for B24 to rise later this year as shipowners prepare to meet more stringent mandates set by the EU and the International Maritime Organisation (IMO). FuelEU Maritime aims to raise the share of renewable and low-carbon fuels in the fuel mix of maritime transport within the EU, and will set requirements for greenhouse gas emission reductions against a 2020 baseline level, starting with 2pc in 2025. The EU is an important market and a regular destination for much of the maritime traffic passing through Fujairah, so the new regulations are likely to be a trigger for change, market participants said. "Many vessels refuel in Fujairah before calling at EU ports," one trader says. "They already have to comply with the EU ETS, [Carbon Intensity Index], and will need to also comply with FuelEU." By Elshan Aliyev Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Republican floats repeal of 45Z clean fuel credit


27/01/25
27/01/25

Republican floats repeal of 45Z clean fuel credit

New York, 27 January (Argus) — A Republican lawmaker has quietly introduced a bill to repeal a key subsidy for low-carbon fuels, complicating a debate among lawmakers on what to do with clean energy incentives provided by the Inflation Reduction Act. The bill, HR 549, introduced this month by US representative Beth Van Duyne (R-Texas) would repeal the 2022 climate law's "45Z" incentive for clean fuels, which offers increasingly generous subsidies to fuels as they produce fewer greenhouse gas emissions. While the credit is currently in effect, the legislation as written would apply retroactively, striking the credit from the tax code after 2024. The proposal comes as Republicans prepare to pass major legislation this year through the Senate's reconciliation process, which bypasses the 100-member chamber's 60-vote requirement to advance most bills. Intent on extending tax breaks passed during President Donald Trump's first term but wary of adding to budget deficits, lawmakers are searching for ways to cut government spending. While changes to at least some Inflation Reduction Act programs are expected, biofuels policy is seen as a less likely target for Republicans than other climate policies. And even members supportive of scrapping clean energy subsidies might be wary of repealing incentives retroactively. Still, the new bill suggests that a full repeal of 45Z could at least be part of legislative discussions this year. The bill was referred on 16 January to the House Ways and Means Committee, of which Van Duyne is a member. Other Republicans on the Ways and Means Committee have expressed openness to updating but not necessarily eliminating the credit, with six members opening a request for information last year on options such as limiting foreign feedstocks or encouraging more "climate-smart" farm practices. Industry groups generally supportive of 45Z might even welcome some legislative changes, particularly those frustrated by incomplete guidance on qualifying for the credit issued in the waning days of former president Joe Biden's term. More information on lawmakers' plans could come soon, with House Republicans on Monday attending a policy retreat with Trump in Florida. Whatever changes are proposed, Republicans' slim majorities leaves them with little room for dissent and could give farm-state lawmakers leverage to ensure some type of biofuel tax credit survives legislative negotiations. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

France imported record amount of US crude in November


27/01/25
27/01/25

France imported record amount of US crude in November

Barcelona, 27 January (Argus) — French crude imports in November included a new high from the US. Customs data show imports at 4.3mn t (1.04mn b/d), up by 7pc on the year and down from 4.5mn t a month earlier. Deliveries of US crude were just over 1.25mn t, up from the previous record of slightly more than 1.2mn t in October and December 2023. The latter month had been the highest, but a downwards revision gave that spot to November 2024. US crude imports have been arriving on very large crude carriers (VLCC) at the Mediterranean port of Fos-Lavera. A VLCC of WTI grade crude unloaded there in October, in November and in January. Argus ' tracking shows US crude as the largest single source of imports at the port . Each delivery has been for Rhone Energies' 133,000 b/d Fos refinery. This has been operated since November by a consortium comprising trading firm Trafigura and US-based energy infrastructure company Entara. Kpler data show all three VLCCs were arranged by trading firm Vitol. The US is now by far the biggest supplier to France. It provided 10.2mn t of crude in the January-November period, up from 7.8mn t on the year, ahead of Nigeria with 5.8mn t, Kazakhstan on 4.9mn t and Algeria on 4mn t (see chart) . There is the possibility of further increases in US shipments this year. Rival light sweet grades from Libya are prone to disruption, Nigerian demand for domestic crude is growing as the 600,000 b/d Dangote refinery ramps up, and Kazakhstan is under pressure to compensate for exceeding its Opec+ output target and could limit deliveries of CPC Blend. While imports were high in October, overall French crude receipts in the first 11 months of last year were 42.9mn t, lower by 2.4pc on the year, the result of planned and unplanned refinery downtime. By Adam Porter French crude imports mn bl Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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