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Fossil fuels in Cop 30 action agenda spotlight

  • Spanish Market: Emissions, Oil products
  • 14/10/25

Transitioning away from fossil fuels is the goal in the UN Cop 30 climate summit's action agenda that has received the most initiatives from governments, companies and civil society, the action agenda's coordinator Bruna Cerqueira said.

That specific action agenda goal has received around 60 initiatives, all with different perspectives and focuses, Cerqueira said on 14 October during pre-Cop in Brazil's capital of Brasilia.

The action agenda looks to mobilize voluntary climate action from civil society, businesses, investors and governments to intensify emission reductions, climate adaptation and the transition to sustainable economies, as set out in the Paris Agreement. Cop 30's action agenda is six-pronged and lays out 30 objectives, including the transition away from fossil fuels.

Brazil has made it clear that it is looking to increase crude production, which climate activists say is contradictory to the phase out of fossil fuels. But that does not interfere with the action agenda, Cerqueira told Argus. "Brazil is involved in some of these initiatives and [state-controlled] Petrobras is part of the group of oil companies that committed back in Cop 28 to advance [on this topic]," she said.

Besides, country goals and the action agenda "move separately", she added.

Brazil produced almost 4mn b/d of oil in July-August, data from hydrocarbon regulator ANP show. The country is seeking to raise that to 5mn b/d by 2030, energy research firm EPE says.

"The action agenda is not a space where we expect everyone to agree," Cerqueira said. But the group has allowed all sides to present their positions, receiving suggestions on an array of topics. Cerqueira specifically mentioned areas such as sustainable fuels and methane.

The topic of phasing out fossil fuels has come up during pre-Cop, said entrepreneur Dan Ioschpe, the Cop 30 high-level champion. "We are about to watch a presentation by [the International Renewable Energy Agency] Irena that will have data showing an important increase in renewable and sustainable energies, which ties into the phase-out," he said.

Also during pre-Cop, Brazil announced that Italy, Japan and India have endorsed its proposal to quadruple global output and use of sustainable fuels by 2035.

There are also some "interesting topics" regarding the phase-out of fossil fuels in hard-to-abate sectors such as aviation and maritime travel, Ioschpe added.


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10/11/25

Cop: Agenda agreed, key issues left to presidency

Cop: Agenda agreed, key issues left to presidency

Belem, 10 November (Argus) — Countries at the UN Cop 30 climate summit were able to agree on an agenda a day prior to the summit's beginning, but key issues — unilateral trade measures, climate finance and countries' climate plans and emissions reporting — were left off, the Cop 30 presidency said today. The absent topics will be resolved through presidency consultations, Cop 30 officials said. A two-hour meeting was, at the time of writing, scheduled later today to discuss the items. There were eight agenda item proposals, and four of them did not make the cut, according to Cop 30's chief strategy and alignment officer Tulio Andrade. But there was an understanding that all will be considered in presidency consultations that "will start immediately", he added. Delegates will also discuss the issues in a plenary on 12 November, he added. Cop 30 president Andre Correa do Lago commended all delegations for agreeing to the agenda quickly. "This is good, not only to allow us to start working today already very intensively, but it will also allow us to explain to the world why these additional issues that have been raised really matter", he told reporters. Non-profit World Resources Institute (WRI) had previously flagged the four items as "notable". The climate finance topic is encompassed in a request from a group of developing countries to discuss the Paris climate agreement's Article 9.1. This section of the accord states that "developed country parties shall provide financial resources to assist developing country parties" — a topic that dominated last year's Cop 29 , with many developing nations disappointed at the outcome. Unilateral trade measures encompass the EU's carbon border adjustment mechanism (CBAM) — a topic that proved contentious at previous climate talks , with pushback from some developing countries. EU climate commissioner Wopke Hoekstra is also responsible for overseeing the bloc's taxation measures. WRI noted that the alliance of small island states (Aosis) — some of the most vulnerable to climate change — requested that countries discussed how to respond to the latest round of countries' climate plans, and the gap between these and the Paris agreement's temperature goals. "There are some countries that are concerned that [including an item on climate plans lacking ambition] may create a kind of deviation from the subjects that they believe should be dealt with first", Correa do Lago told reporters today. The presidency will address those countries individually, he added. Cop 30 started today in Belem, northern Brazil. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

European gasoline cracks hit 18-month high


10/11/25
10/11/25

European gasoline cracks hit 18-month high

London, 10 November (Argus) — European gasoline margins to crude hit an 18-month high on Monday. Benchmark non-oxy gasoline barge premiums to Ice Brent crude futures were $22.11/bl at Monday's close, surpassing seasonal peaks during the 2025 and 2024 summer driving seasons and the highest since 7 May 2024. Non-oxy barge refining margins have averaged $18.59/bl to date in October, the highest for the period since 2022 when global demand began returning following the Covid-19 pandemic. Ambiguity about the future of Russian firm Lukoil's subsidiary Litasco and its European refining and product assets has supported European gasoline cracks. The US blocked trading firm Gunvor's bid for the assets, throwing the future of Litasco's downstream European operations in doubt. Prices were already underpinned by European refinery maintenance and tighter prompt supply availability, according to traders. Gasoline barge loading delays have been reported since late September-early October, limiting the amount of product making its way into storage. Cracks have also been supported recently by refiners pivoting to diesel production to capture strong distillate margins, a trader said, as the global diesel pool is shrunken by lower Russian export loadings. Europe appears to be rolling back the amount of gasoline made available for export. Cargo loadings from the EU, UK and Norway for overseas destinations in the first 10 days of November were the the lowest daily rate on record for the period at 736,000 b/d, according to Kpler. This was down from 844,000 b/d in 1-10 October. And Europe has imported 104,000 b/d of gasoline to date this month, the highest for the period since August 2024, to tackle elevated prompt supply tightness. This is reflected in $45/t backwardation in the Eurobob oxy swap structure, between the balance of the November swap and the front-month December swap on Monday. West African buying interest may be waning, however. Nigeria's 650,000 b/d Dangote refinery cut its asking prices for gasoline on Friday, probably closing the arbitrage window from Europe to its second-largest export market. This may weigh on non-oxy barge refining premiums. Paper indications are still pricing in a drop in Eurobob oxy cracks month-on-month until January. By George Maher-Bonnett Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EPA does not update court on biofuel timing: Correction


10/11/25
10/11/25

EPA does not update court on biofuel timing: Correction

Corrects government shutdown's impact on court deadlines, and updates with new information throughout. New York, 10 November (Argus) — President Donald Trump's administration did not update a court on its timeline for finalizing new biofuel blend mandates, as a partial government shutdown slows down court cases and regulatory work. Biofuel groups Clean Fuels Alliance America and Growth Energy have repeatedly sued the administration over its delays, hoping that a court will require the Environmental Protection Agency (EPA) to set new biofuel quotas before year-end. Judge Timothy Kelly of the US District Court for the District of Columbia ordered the administration to provide an update on its timeline by 7 November. But in a filing that evening, the biofuel groups said they had not heard back from government lawyers. No timing update was provided. "It is the understanding of Clean Fuels and Growth Energy that counsel for defendants may currently be furloughed," they told the court. Kelly ordered the update before the ongoing partial government shutdown began. The DC district court later said in a general order that it would give the government more time to respond across all civil cases because of the funding lapse. Government lawyers had previously warned courts that the shutdown would sideline critical officials and make it hard to meet deadlines. But the government's lack of response to biofuel groups in the case is still raising fears of more prolonged delays updating a program that is important for producers of ethanol, renewable diesel and other biofuels and is popular among powerful farm-state Trump allies in Congress. EPA told Argus it was reviewing comments on its plan to make oil companies offset past program exemptions and "continues to work on final regulations" to establish new blend mandates. In past cases over biofuel program deadlines, biofuel groups and federal officials have negotiated new timelines or judges have ordered EPA to act by a set date. Clean Fuels said it would continue to ask the DC court to expedite the case and require the agency to publish a final regulation by year-end. Under the Renewable Fuel Standard, EPA requires oil refiners and importers to annually blend different types of biofuels or buy credits from those that do. The program is crucial for the production margins of ethanol, renewable diesel and other biofuels and is popular among powerful farm-state Trump allies in Congress. EPA — required by law to set new mandates 14 months in advance of a new year — is late setting new quotas for 2026 and 2027. Even before the shutdown, the Trump administration told the DC court that developing a complicated plan to offset the impact of small refinery exemptions meant it might not be able to finalize new blend mandates until next year . Biofuel advocates fear that further delays would mean less ambitious final quotas, another hurdle for biorefineries that have cut run rates this year and for farmers hurting from this year's tariff fights. EPA has indeed been more cautious in the past when finalizing retroactive mandates since oil companies have less notice on volumes they must bring to market. Lawyers and lobbyists who closely track the program have also told Argus that delays raise the chance that major program updates — like a plan to halve program credits for fuels made abroad or from foreign feedstocks — are at least pushed back. Oil refiners have argued the half-credit idea is illegal and questioned how EPA could roll out a new feedstock tracking system in a matter of weeks. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Cop: Climate plans project 12pc GHG cuts over 2019-35


10/11/25
10/11/25

Cop: Climate plans project 12pc GHG cuts over 2019-35

London, 10 November (Argus) — Countries' most recent climate plans are projected to cut total global greenhouse gas (GHG) emissions by around 12pc over 2019-2035, UN climate body the UNFCCC said today. Global GHG emissions were, before the Paris climate agreement was adopted, projected to rise between 20pc and 48pc over 2015-2035, UNFCCC data show. The UNFCCC's projections today are based on 113 climate plans, known as nationally determined contributions (NDCs), submitted, covering a timeframe up to 2035. It released a report, known as an NDC synthesis , which covered climate plans submitted by the end of September. But since then, 22 new NDCs have been submitted, including by the EU — and covering all 27 member states — and by the world's highest-emitting country, China. If countries implement all elements of their NDCs, global GHG emissions could drop by 14pc over 2019-2035, the UNFCCC projected. Developing countries often split climate plans into unconditional and conditional actions — the latter reliant on external support. Signatories to the Paris agreement are required to submit NDCs every five years, rising in ambition each time. While countries reach decisions at Cops, the NDCs are the chief route for the implementation of climate action. "The emissions curve has been bent downwards. Because of what was agreed in halls like this, with governments legislating, and markets responding", UNFCCC executive secretary Simon Stiell told delegates today, as the UN Cop 30 climate summit began in Belem, northern Brazil. He warned countries that they "must move much, much, faster on both reductions of emissions and strengthening resilience", as "individual national commitments alone are not cutting emissions fast enough". "We don't need to wait for late NDCs to slowly trickle in, to spot the gap and design the innovations necessary to tackle it… Not one single nation among you can afford this, as climate disasters rip double-digits off GDP", Stiell told delegates. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Rising German gasoil prices pressure demand


10/11/25
10/11/25

Rising German gasoil prices pressure demand

Hamburg, 10 November (Argus) — Inland heating oil and diesel prices in Germany rose last week, driven by a rally in Ice gasoil futures. The increases curbed buying interest from consumers. Ice front-month gasoil futures climbed above $800/t on 7 November — their highest since early July 2024. The rise equates to about €7.30/100 litres. National average prices for heating oil and diesel in Germany increased at a more moderate pace, up by around €4/100l, but still reached their highest since late June. Gasoline prices saw a smaller increase of about €1.40/100l. Traders said higher prices are deterring buyers. Subdued demand also explains the smaller rise in domestic prices compared with futures. High domestic refinery utilisation is helping cap inland price increases in Germany, with only the 187,000 b/d Godorf refinery currently in partial shutdown. Calculated German greenhouse gas (GHG) costs for diesel fell by nearly €1/100l last week, further weighing on prices. The drop reflects lower prices for hydrotreated vegetable oil (HVO) and GHG certificates. Arbitrage conditions for US gasoil exports to Europe worsened in October. But the arbitrage window reopened last week as Ice futures rose, potentially allowing US flows to Europe to resume in the coming weeks — assuming fundamentals remain stable. By Johannes Guhlke Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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