European Bitumen Market Update July 2024
Related news
US House readies E15 floor vote in May
US House readies E15 floor vote in May
New York, 30 April (Argus) — The US House of Representatives is planning to vote next month on a major biofuel policy reform bill after months of delays on an issue important for crop demand and fuel prices. The chamber will vote on a standalone biofuel bill on 13 May, Agriculture Committee chair Glenn Thompson (R-Pennsylvania) said on the House floor Thursday, after an earlier plan to pass the bill and merge it with a larger farm policy package sputtered . The latest proposal would remove summertime limits on gasoline with up to 15pc ethanol (E15), potentially encouraging broader sales of the typically-cheaper blend. It would also standardize the often-unpredictable process by which some oil refiners can win exemptions from a separate program that requires annual biofuel blending. The plan for a House vote is just the latest turn for E15 legislation, which has struggled to pass Congress for years now despite strong backing from farm-state lawmakers of both parties and a recent push from President Donald Trump. A council of Republican lawmakers had hoped to have biofuel legislation ready for a House floor vote in February, but a bloc of refiners has resisted. The latest proposal, while offering small companies automatic partial exemptions from biofuel quotas, would cut off some larger enterprises that today can win relief for smaller units they own. Under current rules, refineries that process 75,000 b/d or less of crude can request hardship exemptions — but under the proposal, only companies with no more than 75,000 b/d of collective gasoline and diesel refining capacity could win relief. There is a limited carveout in the proposal for some facilities that can prove they are at risk of closing and a system to compensate some unnamed small refinery owners for past compliance by giving them special program credits that do not expire. The framework is backed by not just farm advocates but also oil majors, who have been frustrated footing the bill for blending biofuels while some of their smaller competitors skirt the requirements. Some independent refiners remain hotly opposed, including those that would lose their ability to win exemptions and others that want deeper reforms to the biofuel mandate to temper costs. The cost to comply with the program has spiked to all-time highs, according to Argus calculations based on current credit pricing, after the Trump administration last month set blend mandates at record-high levels. It is unclear whether lawmakers will consider new changes to the existing E15 proposal — especially after oil and farm groups alike reacted coolly to the House task force's prior ideas — or if the planned vote will be punted yet again. Some Democrats have endorsed the latest deal, seeing it as a way to help out corn farmers and temper pump prices that are soaring because of war in the Middle East, and criticized Republicans for their infighting. "Forgive my skepticism, but this certainly looks like every time we have a deal for a vote on year-round E15, there is an uprising in the Republican caucus," said House Agriculture Committee ranking member Angie Craig (D-Minnesota). There are also significant obstacles to any biofuel proposal in the US Senate. Agriculture Committee chair John Boozman (R-Arkansas), who has major power over the Farm Bill that biofuel advocates hope an E15 bill could be added to, has opposed efforts to restrict mandate exemptions that have benefited a refinery in his state. While the legislation would allow but not mandate year-round sales of E15, some longtime critics of biofuels in the chamber see the proposal as a stepping stone to steeper blend requirements. "Time to end ethanol tyranny," senator Mike Lee (R-Utah) said. E15 is not sold at the vast majority of retail fuel stations in the US, which ethanol advocates blame on regulatory uncertainty deterring retailers from investing in higher-blend infrastructure. The Trump administration last month issued emergency waivers allowing continued E15 sales this summer, but permanent access requires legislation. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Valero ends fuel production at Benicia refinery
Valero ends fuel production at Benicia refinery
Houston, 30 April (Argus) — US independent refiner Valero has stopped producing fuels at its 145,000 b/d Benicia refinery, the company said today. Valero "ceased operation of the fuel production units" after idling processing units through a phased approach in the first three months of 2026, the company said. Valero first informed the California Energy Commission in April 2025 of its plan for the Benicia refinery. The company has said that California's regulatory and enforcement environment is the most stringent and difficult in North America. The Benicia closure, in addition to the shutdown last year of Phillips 66's 139,000 b/d Los Angeles refinery, has caused California to lose 17pc of its refining capacity, triggering concerns about the state's tight and often volatile oil products market and the impact on the western US region. Valero said previously that it plans to import additional gasoline volumes in the near term to meet contractual supply obligations. California has become increasingly dependent on fuel imports following the refinery closures. Valero reported a first quarter depreciation expense of about $100mn related to the Benicia shutdown. By Eunice Bridges Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Asphalt tank fails in South Houston
Asphalt tank fails in South Houston
Houston, 29 April (Argus) — An asphalt tank ruptured on Wednesday afternoon at a Martin Asphalt facility in the city of South Houston, Texas, resulting in one fatality. Video from the scene by a local television news station showed a partially collapsed tank and liquid asphalt flooding a large part of the facility as well as flowing out of the grounds and over a nearby road. The Houston Fire Department's Public Information Office confirmed the rupture resulted in a fatality. The Harris County Fire Marshal's Office reported the incident and noted the possible fatality at 4:36pm via a post on X. The South Houston Fire Department as well as Houston Fire Department hazmat and rescue units responded to the scene. Martin Asphalt did not immediately respond to a request for comment. The company produces asphalt for paving and roofing applications, along with numerous specialty asphalt blends. By Angelina Contreras Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
France's fossil fuel roadmap a key step: think tanks
France's fossil fuel roadmap a key step: think tanks
Edinburgh, 29 April (Argus) — France's roadmap to transition away from fossil fuels, which combines energy policies and climate targets in one document, is an important step, even though no new goals were announced, energy and climate think tanks said today. France released the roadmap yesterday, during the first conference on Transitioning Away from Fossil Fuels, ongoing in Santa Marta, Colombia. The plan matches France's climate goals with its energy policies in one document, including its national low carbon strategy and its new electrification plan set out in April . It reiterates the country's goal to move from a share of around 60pc fossil fuels in final energy consumption in 2023 to 40pc in 2030 and 30pc in 2035, to reach net zero emissions in 2050. The government plans to phase out coal by 2030, oil by 2045 and natural gas by 2050, under its national low carbon strategy and its roadmap. "France is one of the few countries in the world to have such a precise schedule for a gradual exit from fossil fuels," the French environment ministry said. The French roadmap aims to inspire partner countries on long-term planning, it said. France's last two remaining coal-fired power plants are scheduled to close or be converted by next year. The roadmap also states that over 95pc of fossil fuels burned in the country are imported. France eyes a 50pc reduction in gross greenhouse gas (GHG) emissions by 2030 compared with 1990, to reach net zero emissions by 2050. Although the country did not announce new goals, the roadmap sends an important signal, think-tank International Institute for Sustainable Development (IISD) energy policy advisor Natalie Jones said. "Higher ambition and not solely repackaging existing policies would have been even better, but an explicit fossil fuel phase strategy, with timelines, is new and welcome," she said. She added that the framing of the roadmap in relation to UN Cop climate summits, the global stocktake and climate action is significant. The first global stocktake, agreed on in 2023 at Cop 28, called for a transition away from fossil fuels in energy systems. "Few countries tackle all fossil fuels together — this gives other countries a critical opportunity to follow suit, while fossil fuel-producing nations can also lay out plans to diversify their economies as global demand for fossil fuels wanes in the decades ahead," said global research organisation WRI director of international climate action David Waskow. Asked about whether other EU countries could release fossil fuel transition roadmaps in the future, EU climate commissioner Wopke Hoekstra yesterday said that whether roadmaps are "specifically about phasing out fossil fuels… is secondary to impact". He reiterated the EU's goals — net zero emissions by 2050 and a 55pc reduction for 2030, from 1990 levels — pointing out that the wording is about reducing emissions rather than specifically phasing out fossil fuels. The "reality is… the same, you cannot be at 90pc [of emission cuts] in 2040 if you will not radically phase out fossil fuels", Hoekstra said. The EU updated its climate law earlier this year to add a 90pc GHG reduction by 2040, from 1990 levels, although up to 5pc of the target can be met using international carbon credits. Fossil fuel producer Colombia also presented a draft fossil fuel transition roadmap this week, developed with researchers, and designed to act as a potential standard for other countries to use. It aims to achieve a 90pc reduction in primary fossil fuel demand over 2026-50, and a 90pc cut in "whole energy system emissions" from 2015-50, while expanding access to energy. The plan pointed to the country's dependence on fossil fuels for revenues. Colombia exports oil and coal worth $25bn, against around $1bn in fossil fuel imports — mainly oil products, according to the roadmap. By Caroline Varin and Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.