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Mexico sends fuel to Cuba in wake of civil unrest

  • Market: Electricity, Oil products
  • 26/07/21

Mexico's state-owned Pemex has dispatched a fuel cargo to Cuba, making good on the Mexican government's pledge to help the island to weather a crisis that sparked rare protests last week.

A medium-range (MR) refined products tanker owned by Pemex is scheduled to offload in Cuba this week, ship-tracking services showed. The Mexico-flagged Jose Maria Morelos II vessel is carrying close to 240,000 bl of unspecified product, according to oil analytics firm Vortexa. The ship loaded at Pajaritos on Mexico's Gulf coast on 23 July and is expected to arrive in Havana, Cuba, at 4:20am ET on 27 July.

The tanker's declared destination as Tuxpan, Mexico, but its transponder shows it off the coast of Cuba, a pattern consistent with freight movements around sanctioned countries.

This would be the first such product cargo to go from Mexico to Cuba in recent years, based on Vortexa's records.

Mexico's foreign ministry had indicated that the country could send gasoline or diesel to Cuba as a humanitarian gesture. Mexico had already sent medical and food donations to the island on navy vessels, on orders from President Andres Manuel Lopez Obrador.

Cuba relies on its close ally Venezuela for oil under an opaque state-to-state barter agreement signed in 2000. But as Venezuela's national oil industry has deteriorated in recent years, fuel supply in both countries has dwindled. The deficit is aggravated by US sanctions. Havana blames a Cold War-era US economic embargo for prolonged blackouts and food shortages, a narrative shared by Caracas, which came under US oil sanctions in 2019.

The Cuba embargo has ample exceptions, including for food, medicine and agricultural products.

Mexico imports most of its gasoline and diesel, but it has a surplus of high-sulphur fuel oil (HSFO) as several of its key refineries lack cokers to process it into higher-value products. HSFO can be burned in power generators or used as shipping fuel, but tighter emissions requirements in many areas have reduced demand for it in recent years.

Cuba has long suffered from a lack of basic goods and services, made worse by the Covid-19 pandemic. The protests that erupted on 11 July were swiftly quelled by the government of President Miguel Diaz-Canel, successor to the Castro brothers. Cuban security forces have rounded up protesters and journalists, and cut internet service that was made available only a few years ago.

The US, Brazil, Colombia and Ecuador were among a diverse group of countries that denounced Cuba's actions in a statement today.

The US is preparing to relax its restrictions on remittances to the island after levying sanctions on Cuba's defense minister and special forces that it deems responsible for the repression.

The Organization of American States (OAS) is meeting on 28 July "to address the situation in Cuba." Lopez Obrador has said Latin America needs a new body to replace the OAS, in which Cuba's membership is suspended.


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12/05/25

Australian PM reaffirms climate priority in new cabinet

Australian PM reaffirms climate priority in new cabinet

Sydney, 12 May (Argus) — Australian prime minister Anthony Albanese has reaffirmed renewable energy commitments with cabinet picks after the Labor party's election victory on 3 May. Chris Bowen, who led key changes to the safeguard mechanism , the capacity investment scheme (CIS) and fuel efficiency standards for new passenger and light commercial vehicles, remains minister for climate change and energy. Madeleine King, the minister for resources and northern Australia, retains her cabinet position, while Tanya Plibersek, previously the minister for environment, is now the minister for social services and is replaced by Murray Watt, formerly the minister for workplace relations. In the previous term, Plibersek failed to establish an environment protection authority and reform the Environment Protection and Biodiversity Conservation Act, which was an election promise in 2022, after intervention from Western Australian state minister Roger Cook. Environmental lobby group the Australian Conservation Foundation (ACF) has welcomed Watt, who was also the minister for agriculture for two years to 2024, into his new role. "Having a former agriculture minister in environment increases the opportunities for co-operation on the shared challenges facing nature protection and sustainable agriculture," the ACF said. The ACF also welcomed Chris Bowen in returning to his role as environment minister for his "clear mandate" to continue the energy transition. Josh Wilson remains assistant minister for climate change and energy. Participants in the renewable energy carbon credit industry are urging the new Department of Climate Change, Energy, the Environment and Water to speed up the creation of new Australian Carbon Credit Unit (ACCU) methods in the new government term. They are also seeking greater transparency in ACCU data base , which requires legislative change. And renewable energy companies and lobby groups will be closely following a review of Australia's National Electricity Market wholesale market settings , which will need to be changed following the conclusion of the CIS tenders in 2027 and as Australia transitions to more renewables from its ageing coal-fired plants. By Grace Dudley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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India, Pakistan reach US-mediated, fragile ceasefire


11/05/25
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11/05/25

India, Pakistan reach US-mediated, fragile ceasefire

Dubai, 11 May (Argus) — A US-mediated ceasefire reached on Saturday between nuclear-armed neighbours India and Pakistan is still holding, following four days of intense fighting. "After a long night of talks mediated by the United States, I am pleased to announce that India and Pakistan have agreed to a FULL AND IMMEDIATE CEASEFIRE," US president Donald Trump posted on his social media platform Truth Social on Saturday. India and Pakistan will now start negotiations on a broad set of issues at a neutral site, US secretary of state Marco Rubio said on social media platform X. India's military on 7 May launched attacks against targets in Pakistan and Pakistan-administered Kashmir in retaliation for an April terrorist attack that killed dozens. But by Saturday, the two countries seemed to be edging toward all-out war, as their militaries targeted each other's bases. India's foreign minister Subrahmanyam Jaishankar confirmed the ceasefire, saying on X that "India has consistently maintained a firm and uncompromising stance against terrorism in all its forms and manifestations. It will continue to do so." Pakistan "responded positively to the ceasefire proposal for regional and global peace, and its people and I hope that dialogue will now be chosen for resolution of water and Kashmir disputes," Pakistan's prime minister Shehbaz Sharif said in a televised address. Trump also praised leaders of both countries for agreeing to halt the aggression and said he would "substantially" increase trade with them, although this was "not even discussed". Kashmir is a contested area between India and Pakistan, and the two have twice gone to a war over the region. Fear of the conflict spreading roiled global financial markets. India is the region's second-biggest oil buyer after China — importing around 4.5mn b/d last year — and a major customer for other commodities, including LNG and coal. Pakistan also imports fertilizers, coal, oil products and LNG. The escalation between the two severely limited direct trade between them. Airlines in the region as well as some Mideast Gulf carriers rerouted or cancelled flights to avoid Pakistani airspace. But the Pakistan Airports Authority said on Saturday that "Pakistan's airspace has been fully reopened for all types of flights." By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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White House ends use of carbon cost


09/05/25
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09/05/25

White House ends use of carbon cost

Washington, 9 May (Argus) — The US is ending its use of a metric for estimating the economic damages from greenhouse gas (GHG) emissions, the latest reversal of climate change policies supported by President Donald Trump's predecessors. The White House Office of Management and Budget (OMB) this week directed federal agencies to stop using the social cost of carbon as part of any regulatory or decision-making practices, except in cases where it is required by law, citing the need "remove any barriers put in place by previous administrations" that restrict the ability of the US to get the most benefit "from our abundant natural resources". "Under this guidance, the circumstances where agencies will need to engage in monetized greenhouse gas emission analysis will be few to none," OMB said in a 5 May memo to federal agencies. In cases where such an analysis is required by law, agencies should limit their work "to the minimum consideration required" and address only the domestic effects, unless required by law. OMB said these steps are needed to ensure sound regulatory decisions and avoid misleading the public because the uncertainties of such analyses "are too great". The budget office issued the guidance in response to an executive order Trump issued on his first day in office, which also disbanded an interagency working group on the social cost of carbon and called for faster permitting for domestic oil and gas production and the termination of various orders issued by former president Joe Biden related to combating climate change. The metric, first established by the administration of former US president Barack Obama, has been subject to a tug of war between Democrats and Republicans. Trump, in his first term, slashed the value of the social cost of carbon, a move Biden later reversed . Biden then directed agencies to fold the metric into their procurement processes and environmental reviews. The US began relying on the cost estimate in 2010, offering a way to estimate the full costs and benefits of climate-related regulations. The Biden administration estimated the global cost of emitting CO2 at $120-$340/metric tonne and included it in rules related to cars, trucks, residential appliances, ozone standards, methane emission rules, refineries and federal oil and gas leases. By Michael Ball Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Brazil's inflation accelerates to 5.53pc in April


09/05/25
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09/05/25

Brazil's inflation accelerates to 5.53pc in April

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Minister eyes German energy transition 'reality check'


09/05/25
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09/05/25

Minister eyes German energy transition 'reality check'

London, 9 May (Argus) — Germany's energy transition needs a "reality check", the country's new energy minister Katherina Reiche has said, stating that the government will prioritise security of power supply over climate protection. The government must strike the right balance between climate protection, security of supply and costs, Reiche said at the Ludwig Erhard Summit earlier today, arguing that the focus in recent years has been disproportionately on the former. The new government will put security of supply "first", while also focusing on keeping system costs — such as redispatch and grid expansion costs, which previous governments "underestimated" — as low as possible. The government is aiming to "quickly" hold tenders for the construction of "at least" 20GW of new gas-fired capacity, Reiche said, citing the recent blackout in the Iberian peninsula as evidence that Germany cannot become complacent over its power supply. While she acknowledged that the reasons for the blackout are not yet fully determined, she said that a lack of inertia in the power system is likely to have contributed to it, and that more flexible gas-fired plants "could have helped" Spain avoid the blackout. She called for Germany to agree "long-term delivery contracts" for natural gas, to ensure security of supply in the coming years. And Reiche emphasised the importance of "technology openness", particularly when it comes to Germany reaching its goal of becoming climate-neutral by 2045. There may be new technologies that are yet to be invented or fully harnessed that could aid the country in fulfilling its goal, she noted. Hydrogen has the potential to play a role in a "mix" of other technologies in the energy transition, she said, but the expectations for it have become too high for a product that is "not even on the market". Reiche also called for more patience with regard to electrification in Germany, stating that "the transformation of an entire economy [to become climate friendly] in a linear, year-on-year path is not feasible". And the minister reiterated previous CDU/CSU-SPD coalition pledges to reduce the electricity tax and to introduce an industry power price. CDU party member Reiche became the new energy minister on Tuesday, when CDU leader Friedrich Merz was voted in as chancellor, replacing the SPD's Olaf Scholz. By John Horstmann Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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