LPG / NGL
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Trump administration dismisses rail regulator
Trump administration dismisses rail regulator
Houston, 28 August (Argus) — The administration of President Donald Trump dismissed a Democratic member of the Surface Transportation Board (STB), the US rail regulator charged with weighing a mega-merger between Class I carriers Union Pacific (UP) and Norfolk Southern to create the first US transcontinental railroad. Robert Primus, one of two Democratic members of the STB, said he received an email from the White House late on 27 August "purporting to terminate my position at the Surface Transportation Board." The move is "deeply troubling and legally invalid," Primus said in a posting on LinkedIn, and "comes at a time when the Board is considering significant pressing matters of critical importance to both our national freight rail network and supply chain." "Robert Primus did not align with the President's America First agenda, and was terminated from his position by the White House," White House spokesman Kush Desai said. "The Administration intends to nominate new, more qualified members to the Surface Transportation Board in short order." The action leaves the STB with three members, two Republicans and one Democrat, and two short of its five-member capacity. Primus did not refer specifically to UP's $85bn bid to purchase Norfolk Southern. If approved by the STB, that deal would create the first transcontinental US carrier, with a new $250bn entity connecting 50,000 miles of track across 43 states. Primus was the sole dissenter when the STB in March 2023 voted 4-1 to approve Canadian Pacific's $31bn merger with Kansas City Southern, creating the largest single US rail operator and the only railroad that links the US, Canada and Mexico. Primus cited concerns about industry consolidation and the impact on rail service. No STB board members have weighed in publicly about the prospects for the UP-Norfolk Southern merger. SMART-TD, a railroad union that represents conductors, condemned Primus's dismissal as unjustified, and said it was likely motivated by White House concerns that Primus would oppose the UP-Norfolk Southern deal. "This action is unprecedented, unlawful in spirit, and reeks of direct interference from hedge funds and the nation's largest rail carriers," the union said. Primus was nominated during Trump's first term to serve on the STB and was renominated by former president Joe Biden. Primus said he would explore his legal options if he was not permitted to continue serving on the STB. "I have worked tirelessly to build bipartisan trust and have demonstrated myself to be truly an independent Board member that has consistently rendered fair and impartial decisions," Primus said. By Chris Baltimore Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
E3 to reinstate nuclear sanctions against Iran
E3 to reinstate nuclear sanctions against Iran
London, 28 August (Argus) — The E3 group of European nations has given notice that they will reinstate sanctions against Iran for what they deem non-compliance with its nuclear obligations. The group — France, Germany and the UK — said today the sanctions will be re-established in 30 days under a 'snapback' mechanism. During this time the E3 will continue to pursue diplomatic means to resolve the issue, seeking "serious diplomatic efforts" by Tehran. The measures to be reinstated are UN Security Council (UNSC) sanctions that were lifted as part of the 2015 Joint Comprehensive Plan of Action (JCPOA) nuclear deal, in exchange for curbs on Iran's nuclear activities. Removal of the sanctions allowed Iran to resume crude exports without restrictions, but the US' withdrawal from JCPOA in 2018 meant de facto global sanctions resumed. The E3 move is highly symbolic, however, and if it proceeds will spell the end of Iran's co-operation with the UN's IAEA nuclear inspectorate. This was one of the E3's requirements for Tehran, along with resumption of talks on its nuclear programme and steps to address concerns about its high stocks of enriched uranium. The E3 said today that none of these requirements have been met, and that Iran's non-compliance with the JCPOA "is clear and deliberate". Iran said the E3 move is "unjustified, illegal and lacking any legal basis" and that it will "respond appropriately", state media reported. By Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
CSX prefers alliances over rail mergers
CSX prefers alliances over rail mergers
Houston, 28 August (Argus) — Eastern US railroad CSX is open to more industry partnerships, including with Canadian carriers, after sealing a venture with BNSF Railway to seamlessly transport intermodal traffic between the east and west coasts. Railroads like CSX and BNSF are under pressure from Wall Street to pursue mergers to compete with rival Class I carrier Union Pacific's (UP) plan to purchase Norfolk Southern. The $85bn UP-Norfolk Southern tie-up announced in July would create the first US transcontinental railroad and offer single-network service from coast to coast. CSX chief executive Joseph Hinrichs touted alliances and partnerships as a better way to expand network access, pointing to a two-year approval process that the UP-Norfolk Southern merger proposal will likely face before the Surface Transportation Board (STB). "We don't need to wait two years for a regulatory approval process like the STB is going to go through" with the UP-Norfolk Southern merger application, Hinrichs said in a televised interview with CNBC on Wednesday. "We can do it now and we can do it with Canadian railroads as well." Hinrichs said CSX's partnership with BNSF came together after a meeting in Omaha, Nebraska, on 22 August with Warren Buffett, chief executive of Berkshire Hathaway, which owns BNSF. BNSF did not make an outright offer to buy CSX, Hinrichs said. "But they made it clear that they want to work together to solve these problems and create growth opportunities for all of us," Hinrichs said. Fellow Class I railroad Canadian Pacific Kansas City (CPKC) took itself out of the running as a potential merger partner this week, echoing the idea that partnerships were the preferred path to grow network access. CPKC chief executive Keith Creel in July had said the railroad was weighing all scenarios, including a potential merger, in response to the UP-Norfolk Southern deal. But after weighing the options, CPKC on 26 August said that any major rail merger would pose "unique and unprecedented risks to customers, rail employees and the broader supply chain." By Chris Baltimore Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Biofriends to build S Korea’s first biomethanol plant
Biofriends to build S Korea’s first biomethanol plant
Singapore, 26 August (Argus) — South Korean renewable energy producer Biofriends has signed an initial agreement with South Korean biogas company Cheongmyeong on 22 August to build the country's first commercial-scale biogas-based methanol plant, according to a press release by Biofriends. The plant is expected to produce 60,000-80,000 t/yr of biomethanol using 120,000Nm³ of domestically produced biogas generated from Biofriend's Gunsan biogas digester. Biofriends plans to use its synthesis gas conversion technology to increase the added value of the domestic biogas and partake in the shipping industry's low-carbon transition, especially given strengthening decarbonisation regulations by the International Maritime Organisation (IMO). The biomethanol will initially be supplied to domestic methanol-powered vessels and is expected to enhance the competitiveness of the country's shipping industry in line with the global trend towards a carbon-neutral shipping market and national greenhouse gas (GHG) reduction goals. A portion of the produced biomethanol will also be converted to dimethyl ether (DME), which is still considered a clean fuel that emits minimal pollutants such as sulphur oxide and nitrogen oxide and significantly reduces CO2 emissions. The DME will be used as a LPG-DME blended fuel, which has similar physical properties to LPG, and will allow for the use of existing infrastructure. The blended fuel can significantly reduce carbon emissions and contribute to achieving South Korea's carbon neutrality. Some biomethanol bunkering activities are likely to occur at South Korea's Ulsan port this year as Japanese shipping company NYK is expected to bunker its first biomethanol fuel at the port on its methanol-capable dry bulk carrier in September. South Korea's Taebaek city in 2024 also announced plans to build a 10,000 t/yr green methanol plant in collaboration with multiple companies using the government's regional revitalisation investment fund. Argus could not confirm any new developments in this Taebaek city plan. Stakeholders in this agreement include domestic clean energy firm Plagen, domestic automobile manufacturer Hyundai, utility Korea East-West Power, battery systems manufacturer Optimum Trading, Ssangyong Engineering and Construction, LF Energy, Hanbit Energy, S-Tech Korea and Infra Frontier Asset Management. Green methanol can be used in fuel blending as a low-carbon liquid fuel and is derived from biomass or captured CO2 and green hydrogen, as compared to its natural gas-derived counterpart. By Deborah Sun Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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