ANP reduz mescla de etanol e biodiesel no RS

Market: Biofuels, Freight, Oil products
06/05/24

A Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP) diminuiu, temporariamente, a mistura obrigatória de etanol e biodiesel no Rio Grande do Sul por 30 dias, a partir de 3 de maio, em meio a enchentes catastróficas no estado.

O mix de etanol anidro na gasolina caiu dos atuais 27pc para 21pc, enquanto o do biodiesel no diesel S10 está agora em 2pc, queda em relação à porcentagem vigente de 14pc.

Também de forma temporária, a agência suspendeu a necessidade de mistura para o diesel S500.

A ANP informou que pode revisar os prazos da medida dependendo das condições de abastecimento no estado.

As chuvas no Rio Grande do Sul bloquearam rodovias e ferrovias que transportam os biocombustíveis para centros de distribuição, como Esteio e Canoas.

O fornecimento de combustíveis fósseis pela ligação dutoviária da refinaria Alberto Pasqualini (Refap) às outras bases de distribuição do entorno não foi comprometido, afirmou a ANP.

As enchentes no estado já deixaram pelo menos 83 mortos e 111 desaparecidos, de acordo com o governo local. Mais de 23.000 pessoas tiveram que deixar suas casas e cerca de 330 cidades estão em situação de calamidade pública.

Por Laura Guedes

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12/11/24

California RD plant signals later start up

New York, 12 November (Argus) — An long-delayed project to convert a Bakersfield, California, oil refinery to produce renewable diesel (RD) has been given another extension for start up. Global Clean Energy Holdings, working to open a 15,000 b/d RD refinery, and trading house Vitol agreed last week to adjust the terms of a supply and offtake deal singed in June. The initial agreement said that Vitol could exit the agreement if the refinery was not producing at least 5,000 b/d of renewable diesel by the end of October, but that deadline has now been moved to 15 December. Global Clean Energy told Argus last month that it still has "plans in place to complete the remaining work and start up the facility" despite recently cancelling an agreement with its principal contractor. Vitol, after an initial three-year term, can now request up to three one-year extensions of the contract, up from two in the initial deal. The agreement, which cleared the way for former business partner ExxonMobil to exit, stipulates that Vitol will be the exclusive supplier of feedstocks to the plant and exclusive marketer of all fuel and environmental attributes. The revised agreement also says that if Global Clean Energy modifies its credit agreement to allow for more than $330mn in debt financing, then the renewable fuels producer will have to pay Vitol an additional fee that increases as more funds are borrowed. Global Clean Energy declined to clarify whether it had already triggered the obligation to pay Vitol the excess fee, saying that it could not provide more information ahead of filing its quarterly investor report "in the near future." If the plant begins operations as planned, it will have to contend with a challenging investment environment for biorefineries given recently low environmental credit prices and uncertainty around how president-elect Donald Trump will enforce a new federal clean fuels tax credit. At the same time, California regulators agreed last week to update the state low-carbon fuel standard, including by setting stricter carbon intensity targets that start next year. The regulatory updates lifted the prices of credits used for program compliance, which are a crucial source of revenue for companies bringing lower-carbon fuels like renewable diesel into the state. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Algerian bitumen importers eye resumed Spain flows

12/11/24

News

12/11/24

Algerian bitumen importers eye resumed Spain flows

London, 12 November (Argus) — Algerian bitumen importers are getting ready to resume cargo imports from Spain after the Algerian government signalled last week that trade can restart for the first time in more than two years. The government's decision in June 2022 to suspend a friendship and co-operation treaty with Spain, linked to Madrid's public recognition of Morocco's autonomy plan for Western Sahara, led to the immediate cancellation of previously agreed bitumen cargo movements from Spain to Algeria. In a notice issued by the Bank of Algeria on 6 November, Algerian firms were told they could resume trade with their Spanish counterparts under the usual transaction rules, and both state-owned and private Algerian bitumen importers say they are now free to discuss deals to buy and bring Spanish cargoes to their facilities for supply into the domestic market. No such deals are understood to have been concluded yet, but private importers into western Algerian import terminals like Ghazaouet, Oran and Arzew are well placed because of their relative proximity to Spanish export terminals at Tarragona, Huelva and Cadiz compared with existing supply sources in Italy and even more so when compared with cargoes shipped from Greece or Turkey. Ship brokers said freight rates for standard 5,000t bitumen tanker cargo movements from Tarragona — site of a 1.2mn t/yr Asesa bitumen refinery held in a 50-50 joint venture by Repsol and Moeve, formerly Cepsa, — to Ghazaouet are around $35/t, compared with around $50/t for the Augusta, Italy, to Ghazaouet route. Spanish and international bitumen trading and supply firms are still examining the Algerian developments and seeking clearance "on all sides", as one said today, before resuming bitumen cargo discussions with their Algerian counterparts. That could mean the actual restart of Spain-Algeria flows takes until early 2025. Demand for now may be hindered by a pre-winter slowdown in Algerian road construction and bitumen-consuming activity as weather conditions gradually worsen. Algerian state-owned Sonatrach, which imports cargoes into a raft of bitumen terminals along the country's Mediterranean coast, is largely dependent on substantial term flows from Sonatrach Raffineria Italiana's (SRI) 170,000 b/d refinery and export terminal at Augusta, Sicily, and occasionally takes Greek cargoes from Motor Oil Hellas' Agioi Theodoroi refinery and export terminal at Corinth. Sonatrach is less likely than private Algerian buyers to seek Spanish cargoes, on which it had been highly reliant until 2020 before it switched in a big way to Augusta after it bought the refinery there from ExxonMobil in 2018. Algerian market participants said the recent slippage in bitumen cargo prices linked to Mediterranean high-sulphur fuel oil (HSFO) declines and seasonally weakening bitumen cargo differentials to the regional HSFO cargo prices — coupled with a late season slippage in cross-Mediterranean freight rates over the past few weeks — are all factors conducive to resumed imports from Spain. Spanish fob cargo premiums to Mediterranean HSFO cargoes have dropped from around $10/t in mid-October to $2-3/t last week, while outright prices for Spanish bitumen exports have slipped from $498-499/t fob to $458/t over the same period. By Keyvan Hedvat Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Cop: Negotiators positive on remaining Article 6 talks

12/11/24

News

12/11/24

Cop: Negotiators positive on remaining Article 6 talks

Baku, 12 November (Argus) — Negotiators have a "positive attitude" towards outstanding talks on Article 6 of the Paris Agreement taking place at the UN Cop 29 climate conference in Baku, Azerbaijan, bolstered by the finalisation of crediting mechanism standards yesterday. The adoption of two key Article 6.4 standards on Monday night kicks off remaining talks on a very positive note, Switzerland's lead negotiator on international carbon markets under Article 6, Simon Fellermeyer, said. The approval has set the mood for remaining negotiations, lead Article 6 negotiator for New Zealand Jacqui Ruesga added. Article 6 of the Paris accord aims to help set rules on global carbon trade. Negotiators have already seen a more constructive attitude to discussions since the failed talks at Cop 28 in Dubai last December, Ruesga said. This was spurred on by disappointment at the lack of outcome last year, and supported by a number of informal meetings organised in the lead-up to June's Bonn climate conference, as well as increasing direction from heads of delegation on the subject. Divergence persists on some issues, but negotiators still have this positive attitude, Ruesga said. Different sides have also begun communicating the reasons behind their positions more clearly, Article 6 negotiator for Colombia Adriana Gutierrez added, which she hopes will help bring a result this year. Outstanding questions include how to deal with reporting inconsistencies and credit authorisations. Countries also still disagree on the question of whether Article 6.2's international registry should be capable of holding internationally transferable mitigation outcome (Itmo) units, or simply provide an accounting function. But talks on this point are progressing along the lines of deciding which potential functions of the registry could be integrated or dropped in the view of opposing sides, Ruesga said. The first ever Itmo transfer, which took place between Switzerland and Thailand earlier this year , would have been much easier through such a registry, Fellermeyer said. Gutierrez expects most remaining topics to be concluded ahead of Cop 30 in Belem, Brazil, next year. But some smaller, more technical elements are "bound to stick through" to the next summit, Ruesga said. There is not much appetite to reopen most elements for discussion next year, Fellermeyer said, meaning it could be that they are either concluded in Baku or left in a state of "constructive ambiguity". Agreement in Baku on the remaining Article 6 elements is important to give confidence to potential participants, Fellermeyer said, having encountered parties who declined to cooperate through the mechanism owing to a lack of visibility on the rules. By Victoria Hatherick Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Cop: Carbon credit standards key step, work continues

12/11/24

News

12/11/24

Cop: Carbon credit standards key step, work continues

Baku, 12 November (Argus) — The adoption of new standards for creating carbon credits under the Paris Agreement on the first day of the UN Cop 29 climate summit yesterday is a key step, but work continues on Article 6. Cop parties agreed yesterday on standards that will cover credits for greenhouse gas (GHG) emissions removals under Article 6.4 of the Paris accord. The new standards set requirements for developing and assessing projects and establish rules covering carbon removal projects. Article 6 of the Paris accord aims to help set rules on global carbon trade. Cop 29 lead negotiator Yalchin Rafiyev said the decision is a critical step towards concluding Article 6 negotiations. "This will be a game-changing tool to direct resources to the developing world and help us save up to $250bn/yr when implementing our climate plans," Rafiyev reiterated. "[The] centralised UN mechanism for markets looks at the projects that are not financially feasible currently and how it can help in providing some stream of revenue," chair for the supervisory body Maria al-Jishi said. UN climate body UNFCCC chief Simon Stiell said that yesterday's breakthrough was a good start but pointed out that this was "the product of over 10 years of work within the process" and that more work remains to be done. Cop parties must reach a deal on other aspects of implementing 6.4 and 6.2, which together govern how countries can use carbon credits to meet their GHG emissions-reduction pledges, known as nationally determined contributions (NDCs). Remaining issues include the nature of credit registries, the guidance for inclusion of removals and a solution for dealing with reporting inconsistencies and credit authorisations. Overlapping articles 6.4 and 6.2 elements are still under discussion and will require a decision at Cop 29, including on how governments and host parties choose to interact with 6.4 on credit authorisation and how national credit registries can interact with the 6.4 registry, al-Jishi said. By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Cop: Azerbaijan president criticises ‘petrostate’ label

12/11/24

News

12/11/24

Cop: Azerbaijan president criticises ‘petrostate’ label

Edinburgh, 12 November (Argus) — Azeri president Ilham Aliyev remonstrated a room packed with world leaders at the UN Cop 29 summit in Baku about calling his country a "petrostate", given its small share of global oil and gas production. He said that it was "not fair" to label Azerbaijan a "petrostate", adding that it might have been "acceptable" when the country produced more than half of global oil output in the 19th century. He said the country accounts for 0.7pc of global oil production and 0.9pc of global gas production today. He also said that Azerbaijan's share of global greenhouse gas emissions is only 0.1pc. Azerbaijan's oil output reached 480,000 b/d in October. "Right after Azerbaijan was elected as a host country of Cop 29 we became a target of co-ordinated, well-orchestrated campaign of slander and blackmail," he said. The Azeri president reiterated that oil and gas is a "gift of god" and that countries rich in natural resources should not be blamed for bringing them to the markets as they are needed. He pointed out again that eight of the 10 countries that are supplied with Azeri gas are in Europe and that the EU asked Azerbaijan to double its gas supply to the bloc by 2027. Natural gas output in Azerbaijan reached a new high of 132mn m³/d in 2023, and the country aims to increase it further. Upping exports to the EU to 20bn m³/yr by 2027, from the current 12bn m³/yr, has been a key government commitment since 2022, when Europe was desperate for alternative gas suppliers. The UAE, Azerbaijan and Brazil — the Cop presidencies Troika — face scrutiny for pushing for increased global climate ambitions, but at the same time seemingly avoiding the question of fossil fuels in relation to their own new climate targets. The Troika countries look at fossil fuels through the lens of their own national circumstances — with their economies being heavily reliant on them. Azerbaijan's increasing gas exports spurred an economic boom, with GDP increasing tenfold over 2003-13. "As a president of Cop 29, I will be a strong advocate for the green transition, but at the same time we must be realistic," he said. He listed green projects in Azerbaijan, either in the pipeline or already operating, including an agreement to be signed at Cop 29 with BP to build a 240MW solar power station. By Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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