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Dangote refinery's RFCC running near capacity: Source
Dangote refinery's RFCC running near capacity: Source
London, 4 March (Argus) — Nigeria's 650,000 b/d Dangote refinery has restarted its residual fluid catalytic cracker (RFCC) after maintenance, and the unit is now running at about 90pc of capacity, according to a source with knowledge of the matter. The RFCC has a capacity of roughly 218,000 b/d and is the refinery's main gasoline-producing unit. It appears to have come back online after scheduled test runs in mid-February. The unit had been offline since December, chief executive David Bird said last month. The refinery's naphtha hydrotreater, isomerisation unit and catalytic reformer — which Dangote refers to as the "motor spirit block" — were running in early February but had not yet reached full capacity following January maintenance, an industry source told Argus in mid-February. Dangote was listed in fixtures as having booked what freight brokers described as a 37,000t gasoline cargo loading from the French port of Lavera on 10-12 March for delivery to the US, west Africa or southern Africa. But the cargo is actually carrying naphtha and "catgas" for Dangote, the source said. Catgas — also known as FCC gasoline or cracked naphtha — is an RFCC product that often requires further blending to meet gasoline specifications. Dangote has, meanwhile, raised gasoline asking prices since mid-February, according to local fuel brokers. Flat prices were given at 875 naira/litre on Monday, up by 14pc from around N750/l on 17 February. Benchmark non-oxy gasoline values rose by 12pc over the same period to $728.75/t. Despite the price rise and the near-complete return of RFCC capacity, three European gasoline cargoes have recently loaded for west Africa, according to one European gasoline analyst. Trading firm Vitol booked a 37,000t gasoline cargo on Monday loading fob Lavera for west Africa, according to a fixtures report seen by Argus , suggesting arbitrage economics remain attractive despite firmer Medium Range (MR) tanker rates. UK Continent–west Africa MR rates rose to $52.86/t (WS275) on 3 March from $39.40/t (WS205) just before the US-Iran conflict began, which raised concerns over prolonged delays to diesel and jet fuel shipments through the strait of Hormuz and shifted buyers' attention to US Gulf diesel supplies — Europe's main alternative. By George Maher-Bonnett and Erika Tsirikou Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Dutch B100 flips to discount against MGO
Dutch B100 flips to discount against MGO
London, 4 March (Argus) — B100 advanced fatty acid methyl ester (Fame) dob Netherlands has this week flipped to a discount to marine gasoil (MGO) dob ARA when accounting for EU emissions trading system (ETS) costs. The discount means that it is now cheaper to sail on B100 than MGO, marking a sharp turn in fundamentals for the marine biodiesel product. With FuelEU Maritime requirements also in place, requiring a 2pc reduction in greenhouse gas (GHG) emissions this year, shipowners may look to bunker some of those needed volumes if logistically viable. Most participants reported higher interest for the product and an increase in enquiries, but demand has not spiked yet. This could be because buyers are generally holding off unnecessary bunker fuel purchases, awaiting more stable prices. Price volatility in underlying crude and gasoil markets has capped bunker fuel trade and purchasing has been limited to buyers seeking urgent refuelling or booking volumes for the second half of March in the past two days. The typical differential of around $10-20/t between Rotterdam and Antwerp very-low sulphur fuel oil (VLSFO) and MGO that has emerged since January to reflect RED III requirements in the Netherlands also disappeared on 3 March, with the sudden price surge diluting those premiums and suppliers holding on to limited volumes likely to have more control over offer levels. The spread turned negative for the first time since the B100 price launched on 22 January, and marks the first time a B100 Argus assessment was at an ETS-inclusive discount to MGO since November 2024. The spread was at a discount of $73.16/t on 2 March, before widening to $150.72/t on 3 March. B100 Advanced Fame dob Netherlands was assessed at $1,075/t on 3 March, down by $45/t from a week prior — tracking declines in the wholesale Advanced Fame fob market. Unmet offers were sharply lower on the Argus Open Markets (AOM) session on 2 March, counterbalancing a sharp increase in gasoil futures — the front-month Ice gasoil futures contract 16:30 GMT marker rose by $122.50/t on 3 March, having posted $133.75/t gains in the previous session, reaching its highest since 2022. MGO dob ARA, on the other hand, stood at $927/t on 3 March, up by $243/t since the end of last week, and its highest since 2023. MGO prices in Rotterdam and Antwerp have spiked since the start of this week, reflecting the surge in Brent crude and gasoil prices following the outbreak of the US-Iran war . Rotterdam MGO was pegged at $957.50/t dob on 3 March, up by $242.25/t in from 27 February, while Antwerp MGO was at $967.50/t dob, up by $254.50/t over the same period. By Hussein Al-Khalisy and Siew Hua Seah Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US to roll out oil market calming measures
US to roll out oil market calming measures
Washington, 4 March (Argus) — President Donald Trump's administration is set to roll out additional measures aimed to calm global energy markets spooked by the US-Israel war on Iran and Tehran's retaliatory attacks on shipping and infrastructure in the Mideast Gulf. The US will make a "series of announcements" about stabilizing oil and LNG shipments out of the Mideast Gulf, treasury secretary Scott Bessent told CNBC on Wednesday. Trump on Tuesday already ordered US government finance provider Development Finance Corporation (DFC) to offer political risk insurance and naval convoys for ships transporting energy and other commodities through the Mideast Gulf. DFC did not immediately outline how it will implement Trump's order. The agency's mandate already includes political risk insurance for specific projects and "DFC will help ensure commerce, capital, and energy can operate at capacity during the ongoing conflict", chief executive Ben Black said, inviting shippers and financial institutions to contact the agency directly. "DFC can either provide insurance directly or reinsure an insurer, the latter of which might be the easiest thing to do," advocacy group FDD senior adviser and former Trump White House staff member Rich Goldberg told Argus . Another possible measure could include invoking "the Merchant Marine Act of 1936, which provides the US Maritime Administration with authority to issue war risk insurance and reinsurance in the maritime domain", Goldberg said. Trump also said that the Pentagon would provide naval escorts for the hundreds of ships stuck in the Mideast Gulf. Senior US military commanders in briefings on Tuesday evening and Wednesday morning did not address the possible naval escorts and said the US will soon degrade Iran's capacity to launch missiles and drones at its neighbors. Trump's offer of US-backed insurance for the Mideast Gulf shipping sent US benchmark WTI crude futures slightly lower in Tuesday's session. But some traders expressed skepticism about how quickly the plan can be implemented and whether it would help reopen shipping lanes in the world's largest oil-producing region. The offer would effectively be "like painting a massive target on your ship", one trader told Argus , because "Iran would be directly forcing US taxpayers to foot the war bill". The US plan also would put it in an awkward position of having to underwrite energy shipments out of the region to China and other destinations in Asia. The measures outlined by the Trump administration so far focused on enabling energy carrying vessels to transit the strait of Hormuz. Ship traffic through the strait of Hormuz — the world's most critical shipping lane for oil, LNG and other commodities — has almost ground to a halt since US and Israeli forces struck Iran on 28 February. Another vessel was targeted in the Mideast Gulf on Wednesday, fresh reports from the UK Maritime Trade Operations (UKMTO) indicate, adding to the growing list of incidents in the region. Three tankers commercially operated by Greek shipowner Dynacom Tankers Management passed through the strait of Hormuz on Tuesday, according to a shipbroker. Ship insurers require Additional War Risk Premiums (AWRPs) for vessels passing through designated risky areas to maintain coverage. Last week, ahead of the US and Israeli strikes on Iran, AWRP in the Mideast Gulf stood at 0.15–0.2pc of a vessel's hull and machinery value, according to insurance brokers. But regional rates have now surged, to around 1pc, brokers say, which is equivalent to around $1.34mn for a 2mn bl VLCC. The US strategy does not address the war damage to oil and natural gas production or processing facilities across the Mideast Gulf. State-owned QatarEnergy on Wednesday declared force majeure following the halt of production of LNG and associated products to its "affected" buyers. The halt at Ras Laffan is a safety measure to prevent onshore LNG storage from overfilling, Taiwan's ministry of economic affairs said. State-controlled Saudi Aramco's 550,000 b/d Ras Tanura refinery was targeted by a drone for a second time in three days on Wednesday, according to the defense ministry. By Haik Gugarats and Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
EBRD aims for €150bn in ‘green finance’ by 2030
EBRD aims for €150bn in ‘green finance’ by 2030
London, 4 March (Argus) — The European Bank of Reconstruction and Development (EBRD) has approved a strategy for 2026-30, with a target of "at least" €150bn ($174.5bn) in cumulative "green financing" in 2026-30, including its own finance and mobilised private investments. This level is "a floor it will seek to exceed", the EBRD said. The bank will dedicate "at least 50pc of [its] total annual business volume to the green space" — a goal it also met in 2025 — it said. It also plans to ramp up projects with a "climate resilience component" and investigate nature-positive investments, it said. The EBRD has invested more than €75bn in "green projects" since 2006, it said. "We are responding to our clients' demands to support their green transition", EBRD president Odile Renaud-Basso said. The bank set out plans for six sectors — energy, industry, agrifood, transport and urban and financial systems. It aims to treble the renewable energy capacity that it finances or facilities in 2023-30, compared to in 2010-22. This would add a further 35GW of renewable energy capacity in 2023-30, it said. The EBRD also plans to increase the adoption of transition plans by the banks it finances, with a goal of trebling coverage by 2030 — equalling more than 60pc of its client banks with a transition plan, up from around 20pc in 2025. EBRD regions' "green-related financial needs are projected to rise to more than €500bn in 2030, five times the current level", the bank said. A study from the Independent High-Level Expert Group on Climate Finance in 2024 put the annual investment required to hit climate and nature goals at $6.5 trillion by 2030, mostly for developing countries. Several key donors of international development aid have scaled back or announced cuts to funding in the last 18 months, which is likely to affect projects tackling climate change in developing nations. Governments and campaigners have shifted their focus to multilateral development banks (MDBs) — such as the EBRD — and the private sector, in lieu of public funding. The EBRD invests or manages a portfolio in 43 countries across Europe, Africa and Asia. The bank is owned by 77 countries, the EU and the EU's European Investment Bank — a fellow MDB. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
关税持续升级，如何影响并重塑市场格局？
关税持续升级，如何影响并重塑市场格局？
Pakistan's DAP market dynamics: Prices, supply, demand & 2026 prospects
Pakistan's DAP market dynamics: Prices, supply, demand & 2026 prospects
Global Sulphur & Sulphuric Acid Market Dynamics
Global Sulphur & Sulphuric Acid Market Dynamics
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