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EcoCeres, British Airways sign SAF supply agreement
EcoCeres, British Airways sign SAF supply agreement
Singapore, 1 July (Argus) — Hong Kong-based biofuels producer EcoCeres has signed a multi-year agreement to supply UK's British Airways with sustainable aviation fuel (SAF), it announced on 30 June. The SAF is expected to help the airline reduce life cycle carbon emissions by approximately 400,000t, compared with using the same volume of conventional jet fuel, EcoCeres said in its press release. This reduction is also equivalent to the total emissions from flying around 240,000 economy class passengers on return flights between London and New York. EcoCeres declined to share the SAF volumes or time period agreed in the supply deal. British Airways has committed to fuelling 10pc of its flights with SAF by 2030. SAF accounted for 2.7pc of its total fuel use in 2024, and has contributed to a 13pc reduction in carbon intensity since 2019, said the company's director of sustainability Carrie Harris. EcoCeres operates a 350,000 t/yr SAF and hydrotreated vegetable oil (HVO) plant in Jiangsu, China. Its planned SAF and HVO plant in Johor, Malaysia, has a maximum production capacity of 420,000 t/yr and is expected to come on line in the fourth quarter of 2025, market participants said. EcoCeres also manufactured the 500,000 litres of used cooking oil (UCO)-based SAF delivered to Air New Zealand in June 2024 . The SAF was supplied and blended by ExxonMobil. By Sarah Giam Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
UK's Lindsey refinery insolvent: Update
UK's Lindsey refinery insolvent: Update
Recasts to add details on insolvency process and refinery operations throughout London, 30 June (Argus) — The future of the UK's 105,700 b/d Lindsey refinery is uncertain, after a court placed its operator under special financial measures. The government's insolvency service said three subsidiaries of UK-based Prax — Prax Lindsey Oil Refinery, Prax Storage Lindsey, and Prax Terminals Killingholme — are in a liquidation process, under which assets are sold to pay off debts. The refinery appears to be working normally. But the move has come as a surprise to the oil markets and to the UK government. The government said the news was "deeply concerning", and said there were "longstanding issues with this company", without specifying what these are beyond it being loss making. The government said it wanted "an immediate investigation into the conduct of the directors, and the circumstances surrounding this insolvency." Lindsey refinery customers and suppliers have been instructed to contact appointed administrators at FTI Consulting, which declined an Argus request to comment further. It is unclear if the refinery has entered the administration process voluntarily, or if it has been forced in by a creditor. Prax had been engaged in an expansion of its refining activity, agreeing to buy Shell out of Germany's 226,000 b/d Schwedt refinery, but that deal collapsed late in 2024. Prax also has upstream and retail assets, which appear not to be included in the liquidation process. If the Lindsey refinery closes the UK would have lost just under a quarter of its total refining capacity since the start of this year. Labour unions Unite and GMB called on the government to safeguard refinery operations and fuel supplies. The UK energy ministry said today the "government will ensure supplies are maintained, protect our energy security and do everything we can to support workers". The Lindsey refinery supplies London Heathrow, and manages a pipeline between the refinery and the airport. The UK was already a net importer of diesel and jet fuel, but its need for premium middle distillates' imports has risen since the closure of Petroineos' 150,000 b/d Grangemouth refinery in Scotland at the end of April . Net UK diesel and kerosine-jet imports rose on the year by 2.6pc and 1.7pc to 793,000t and 762,000t, respectively, in May, according to data from the Joint Organisations Data Initiative (JODI). Lindsey was mostly running US light sweet WTI, which comprised more than 80,000 b/d, or almost 85pc of all crude delivered to the refinery's Immingham port, according to Vortexa. All was supplied by trading firm Glencore . Tracking data show two Aframax-sized tankers carrying WTI — Propontis and Kmarin Rigour — are on route to Immingham, although their discharge port could change. Glencore said it "is continuing to work with key stakeholders in efforts to support a safe and responsible outcome for the refinery." Crude traders said while some disruptions to operation at Lindsey might take place, a full shutdown in the near future is unlikely. A products trader said "the deals already concluded would be performed, unless the liquidator decides otherwise." By George Maher-Bonnett and Lina Bulyk Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US Senate bill cuts 45Z extension, boosts crops
US Senate bill cuts 45Z extension, boosts crops
New York, 30 June (Argus) — The latest Senate draft of a major US budget bill would extend a biofuels tax break for an additional two years, down from four years in the prior draft, and set far more sweeping limits on foreign feedstocks. The "45Z" clean fuel production credit would last until 2029 and be available for only domestically produced fuels produced from North American feedstocks starting next year, according to a draft released over the weekend by Senate leaders that could be voted on as soon as Monday. An earlier Senate draft proposed extending the incentive through 2031 and cutting credit values for foreign feedstocks by just 20pc. The incentive, part of the Inflation Reduction Act, kicked off this year and currently offers a sliding scale of subsidy to US-made alternative fuels through 2027 based on their greenhouse gas emissions. The updated language is a win for farm groups, which have worried that imports of used cooking oil, tallow, and sugarcane ethanol are hurting demand for home-grown crops that can also be turned into biofuels. Refiners that had previously looked abroad for renewable diesel inputs, expanding US production to record levels last year, would have to pay up for scarcer domestic options. A shorter credit extension could frustrate corners of the industry that had emphasized the need for policy certainty — including companies with plans to start producing novel fuels later this decade — although biofuel incentives have a long history of extensions. For instance, the Senate bill would revive an expired tax credit for small biodiesel producers in a major change from earlier drafts. Facilities with capacities of no more than 60mn USG/yr could claim a 20¢/USG subsidy for up to 15mn USG of annual production this year and next year, supplementing tax breaks they can already claim under 45Z. That could keep more biodiesel plants, which have struggled to adapt to policy changes and competition from larger renewable diesel producers, running after a difficult start to the year. Smaller producers also would benefit from the latest Senate draft preserving the ability of companies without enough tax liability to sell tax credits to others. The bill is otherwise similar to earlier versions. It would still bar regulators next year from considering indirect emissions from land use changes, a shift from current law that in effect ups subsidies for fuels made from crops, another top priority for farm groups. If passed, the typical gallon of US dry mill corn ethanol and canola biodiesel would likely qualify for some 45Z subsidy — unlike under current rules — and soybean-based road fuels would earn larger credits next year. Aviation fuels conversely would see slimmer subsidies starting next year, since the bill would eliminate extra credit under current law for jet fuels over road fuels. That would be a major disruption to airlines and to those refiners that have invested in upgrading more of their renewable diesel output to instead produce sustainable aviation fuel (SAF). Trucking groups had argued that the imbalance was diverting feedstocks away from road markets to costlier SAF production — and that treating fuel types equally was one way conservative lawmakers could reduce the credit's price-tag. More changes possible The bill could be changed further Monday as the Senate proceeds with a process in which lawmakers can propose amendments. If the bill passes, it would go back to the House for approval. President Donald Trump has pushed lawmakers to finalize the sprawling package this week, an ambitious timeline given lawmakers still disagree on key issues. Any revised 45Z credit would also need final rules from the US Department of Treasury, which still has questions to answer about eligibility this year. The ultimate profitability of biofuels will depend on interactions between the tax credit and other policies that are also in flux. That includes a federal biofuel blend mandate, which the Trump administration wants to revamp to discourage foreign feedstocks, and newly tougher carbon intensity targets in California's influential low-carbon fuel standard market. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
UK's Lindsey refinery enters administration
UK's Lindsey refinery enters administration
London, 30 June (Argus) — The UK's 105,700 b/d Lindsey oil refinery has entered a liquidation process. Prax Lindsey Oil Refinery, Prax Storage Lindsey, and Prax Terminals Killingholme will be wound up, the government said. The parent company, Prax, was approached for comment on the status of operations at the Lindsey site. Refinery employees appeared to be working, according to Unite spokesman Ryan Fletcher. Lindsey refinery customers and suppliers have been instructed to contact appointed administrators at FTI Consulting. 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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