Cop: Six more countries to triple nuclear power by 2050

: Crude oil, Emissions, Natural gas, Oil products
24/11/13

Six countries have pledged to triple their nuclear power capacity by 2050 at the UN Cop 29 climate conference in Baku, Azerbaijan, as part of an initiative launched at last year's summit in Dubai.

El Salvador, Kazakhstan, Kenya, Kosovo, Nigeria and Turkey today joined 25 countries that had already signed up to the pledge, which was first announced at Cop 28 in Dubai.

Turkey has plans to build 20GW of nuclear capacity by mid-century, from no operational plants currently.

Kazakhstan's commitment follows a nationwide referendum last month in which the country voted in favour of constructing a nuclear power plant.

The US, an original signatory to the pledge, yesterday announced its target to add 200GW of net new nuclear by 2050, from some 97GW now.

White House national climate advisor Ali Zaidi told delegates at a Cop 29 side event today that he has "confidence in the durability" of the Biden administration's approach to clean energy action, and does not expect it to pause following Donald Trump's victory in the recent US election.

Zaidi pointed in particular to bipartisan consensus on the country's infrastructure law, which includes support for nuclear power, and growing political consensus on the Inflation Reduction Act.

By Victoria Hatherick

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25/07/08

French diesel, HVO customs data mislabelled: Eurostat

Barcelona, 8 July (Argus) — French firms have mislabelled imports of 10ppm diesel as hydrotreated vegetable oil (HVO) this year, following confusion over new customs codes, EU data service Eurostat has said. The confusion has come about after the introduction of a new import-export (CN) code for HVO that took effect at the start of 2025. Some French data will be restated. A diesel code of 27101943 was discontinued at the end of 2024 and was replaced by 27101944. A new CN code 27101942 for HVO was introduced. HVO is produced by treating vegetable oil with hydrogen, counts against biodiesel blend mandates, but is molecularly separate from biodiesel output by esterification. When customs data for 2025 began to be published at the end of the first quarter, France appeared to be importing large amounts of HVO from Saudi Arabia and the US. Cargoes from the former amounted to around 255,000t in the first quarter. Saudi Arabia has no HVO production known by Argus , nor does it re-export cargoes. It is France's largest diesel supplier. There were also 140,000t labelled as HVO from the US in January-March. But because the EU has anti-dumping and countervailing duties on US HVO imports, shipments of this size appeared questionable. The US is the second biggest diesel supplier to France. The mislabelling has made French and EU HVO traffic difficult to track. It has distorted French diesel import data , which show imports have fallen sharply. Argus first questioned the numbers in March when initial 2025 customs data were released. These queries were rebuffed, but after a follow up in May Eurostat said French customs had "confirmed that there has been an input error". New data will be supplied by France at an unspecified time this year, it said. By Adam Porter Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU proposes support package for chemicals sector

25/07/08

EU proposes support package for chemicals sector

Brussels, 8 July (Argus) — The European Commission today proposed a package of measures to support the EU chemicals sector, aiming to address high energy costs, global competition and weak demand. The plan includes extending emissions trading system (ETS) compensation to more producers and simplifying fertilizer registration rules. The commission said the simplification measures could save the sector €363mn/yr. The proposals are part of a broader action plan to boost competitiveness and secure supply chains. A new Critical Chemicals Alliance will identify key production sites in need of policy support, including on trade issues such as supply chain dependencies and market distortions. The commission also pledged to apply trade defence measures more quickly and expand chemical import monitoring under an existing surveillance task force. While the commission stopped short of proposing a Critical Chemicals Act — which would legally define specific chemicals for support — it named steam crackers, ammonia, chlorine and methanol as "essential" to the EU economy. The alliance will aim to align investment and co-ordinate support, including through the bloc's Important Projects of Common European Interest (IPCEI) programme. The commission also decided on new rules legally defining low-carbon hydrogen today and said it plans to allow more state aid for electricity-intensive chemical producers by the end of the year. It also encouraged the use of carbon capture, biomass, waste and renewables. EU industry commissioner Stephane Sejourne said the action plan uses "all levers" to put the chemicals sector back on a growth track, with measures to retain steam crackers and other key chemical assets in Europe. He also highlighted efforts to secure domestic demand for "clean and made-in-Europe chemicals". The commission will align fertilizer registration rules with the EU's REACH chemicals framework, applying standard REACH provisions and streamlining the assessment of micro-organisms used in fertilizers. Officials said the changes will maintain safety and agro-economic efficiency standards while allowing a broader range of micro-organisms. For ETS indirect cost compensation, the commission plans to expand the list of eligible chemicals — including organic chemicals and fertilizers — but must first update existing state aid guidelines, a senior EU official said. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Alberta, Ontario to study oil pipelines, port, rail

25/07/07

Alberta, Ontario to study oil pipelines, port, rail

Calgary, 7 July (Argus) — Alberta and Ontario plan to study new trade routes to boost economic activity between the two provinces and beyond, with an interest in exporting oil and gas through Hudson Bay, leaders said today. Alberta premier Danielle Smith and Ontario premier Doug Ford signed two memorandums of understanding to drive interprovincial trade and major infrastructure development, including pipelines and rail lines. The broad intent is to further connect Alberta's energy resources to Canada's most populous province, and on to foreign partners, using steel from Ontario. "Built using Ontario steel, new pipelines would connect western Canadian oil and gas to existing, and potential, new refineries in southern Ontario," said Ford during a joint press conference in Calgary, Alberta. A "potential" new deep sea port at James Bay on the south side of Hudson Bay in northern Ontario would also enable further export opportunities for land-locked Alberta, which is trying to get more pipelines built before growing oil sands production fill existing capacity. Oil and gas would need to flow across Saskatchewan and Manitoba to get to Ontario. Alberta has taken an all-of-the-above strategy in its pipeline pursuits, calling for more egress in all directions, including enhanced access to Pacific Rim markets via a 1mn b/d bitumen pipeline to British Columbia's (BC) coast. "Having access to the northwest BC coast is essential to being able to get to Asian markets, and that's the one that we hear the most enthusiasm for," said Alberta premier Danielle Smith, who expects to have some "good news" on that front in a few months. Federal regulations need to be undone: premiers Smith and Ford called on the federal government to significantly amend or outright repeal the onerous Impact Assessment Act and other legislation that has stifled investment, including the oil and gas emissions cap, Clean Electricity Regulations and the Oil Tanker Moratorium Act that currently prevents an oil pipeline to BC's northwest coast. "No one will build a pipeline to tidewaters if there is a ban on tankers," said Ford. "It is the craziest thing I've ever heard of . . . a ban on tankers." Ford is the latest premier to side with Alberta's stance on federal oversight after Saskatchewan premier Scott Moe did in June . Ford's automobile , steel and aluminum sectors have been caught in US president Donald Trump's crosshairs, spurring the premier to look elsewhere to shore up trade, including within Canada. But hostilities from south of the border are not new for Ontario, whose refining sector relies on Enbridge's 540,000 b/d Line 5 cross-border pipeline. "We have the governor of Michigan constantly threatening to close down the pipeline," said Ford. "Do you know the disaster that would create in Ontario?" To both kickstart a lagging economy and pivot away from the US, Canadian prime minister Mark Carney fast-tracked Bill C-5 through Parliament last month to allow "nation building" projects to bypass regulatory hurdles. To be considered for the new "National Interest Projects" list, a project should strengthen Canada's autonomy, provide economic benefits, have a high likelihood of completion, be in the interests of Indigenous groups, and contribute to meeting Canada's climate change objectives. "The days of relying on the United States 100pc, they're done, they're gone," said Ford. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Multilateralism should steer climate finance: Brics

25/07/07

Multilateralism should steer climate finance: Brics

Sao Paulo, 7 July (Argus) — Developed countries must fully engage in climate finance to support developing countries trying to meet Paris agreement goals, top Brazilian officials said at the Brics summit held in Rio de Janeiro on 6-7 July. "One decade after the Paris agreement, [the world] lacks resources for a fair and planned transition," Brazilian president Luiz Inacio Lula da Silva said. "Developing countries will be the most affected by losses and damages, while they are also the ones that have fewer ways to fund mitigation and adaptation," Lula da Silva said during his keynote address Monday. The Brics summit discussed climate finance in anticipation of the UN Cop 30 climate summit , which will be also be held Brazil, in November. The group issued a declaration that reinforced its commitment to uphold multilateralism as a solution for climate actions, while it also emphasized developed countries' responsibility towards developing countries to financially enable just transition pathways and sustainable development aligned with the Paris agreement. The Cop 29 summit in Baku, Azerbaijan, in November 2024 managed to reach an agreement to allocate $300bn/yr in resources for climate action. But delegates to the upcoming UN Cop 30 summit are targeting at least $1.3bn/yr in public and private funds to tackle climate change, focusing especially on countries that are already dealing with extreme weather conditions and lack financial resources to mitigate it. The Brics also announced a memorandum of understanding on the Brics Carbon Markets Partnership focused on capacity building and multinational cooperation to support climate strategies such as mitigation efforts and emergency resource mobilization. The declaration opposes unilateral protectionist measures, arguing that they "deliberately disrupt the global supply and production chains and distort competition." Climate justice, the fight against desertification, strengthened climate diplomacy and subsidies to environmental services were the main topics of discussion during the Brics summit, Brazil's environment minister Marina Silva said. Brazil will launch its own initiatives to promote climate finance in Cop 30. One program already launched is the Tropical Forest Forever Facility (TFFF) fund that aims to raise $125bn to preserve 1bn hectares of global tropical forests across 80 developing countries. Brics' development bank NDB will target 40pc of its investments to promote sustainable development, such as energy transition. The bank has approved $40bn in investments for clean energy, environment protection and water supply, it said last week. Brazil accounts for $6.4bn of total investments, gathering resources to 29 projects under climate actions, according to the institution. Brazil currently holds the presidency of the Brics, which also includes Russia, China, India and South Africa. Saudi Arabia, Egypt, UAE, Ethiopia, Indonesia and Iran are also members. Belarus, Bolivia, Kazakhstan, Thailand, Cuba, Uganda, Malaysia, Nigeria, Vietnam and Uzbekistan act as partner nations. Heated speech During his keynote address, Lula criticized the International Monetary Fund (IMF) as an institution that promotes unilateralism and stressed his support for reforming institutions of the UN to promote multilateralism and political equity for developing countries. He also mentioned that 65 of the biggest banks in the world committed to a $869bn investment to the fossil fuels sector last year. "Market incentives run contrary to sustainability," he said. By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Nigeria’s imports of European gasoline hit record low

25/07/07

Nigeria’s imports of European gasoline hit record low

London, 7 July (Argus) — Nigerian imports of European gasoline fell to a record low in June, according to Kpler tracking data, as rising output from the country's 650,000 b/d Dangote refinery sharply reduced demand for the product from the EU, UK and Norway. The drop in Nigerian buying pulled overall west African imports of European gasoline to a four-month low of 926,000t, down from 1.315mn t in May and 20pc lower year-on-year. Nigeria, long the region's largest gasoline importer, slipped behind Togo last month as the Dangote refinery hit its highest monthly run rate since coming online. The country is approaching a turning point in its gasoline trade balance. June arrivals into Nigeria from Europe fell by 56pc on the month to 231,000t — the lowest recorded by Kpler. It also imported 28,000t from offshore Lome and 12,000t from Houston, leaving a total of 271,000t. At the same time, Dangote loaded a record 252,000t of gasoline for export last month. This included 90,000t aboard the Pis Kerinci to Sohar, Oman; 89,000t on the Hafnia Larissa to Pasir Gudang, Malaysia; 35,000t on the Sabaek to Abidjan, Ivory Coast; and a further 39,000t aboard the Sabaek , which has yet to discharge. The country could be on the verge of flipping to net exporter status, given the Dangote refinery has "extra plant capacity to produce gasoline", according to Dangote Group executive director Edwin Devakumar. The plant's naphtha hydrotreating unit has "flexibility to achieve additional production", and Dangote has recently begun buying naphtha to support gasoline output, he said. The fall in Nigerian demand for gasoline imports, combined with weaker-than-expected US consumption, is raising concerns over outlet options for European gasoline this summer, a European trader told Argus . Europe remains a large net exporter of the product. Benchmark non-oxy gasoline barge cracks to front-month Ice Brent crude futures averaged $14.73/bl between 1–4 July, broadly steady on the year and slightly up from $14.62/bl in the same period of 2024. By George Maher-Bonnett Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Cop: Six more countries to triple nuclear power by 2050

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French diesel, HVO customs data mislabelled: Eurostat

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EU proposes support package for chemicals sector

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Alberta, Ontario to study oil pipelines, port, rail

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Multilateralism should steer climate finance: Brics

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