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Trump wants policy of 'no windmills' being built

  • Market: Coal, Crude oil, Emissions, Natural gas, Oil products
  • 07/01/25

President-elect Donald Trump wants to pursue a policy to stop the construction of wind turbines, a move that could limit the growth of a resource projected to soon overtake coal and nuclear as the largest source of power in the the US.

Trump has spent years attacking the development of wind, which accounted for 10pc of electricity production in the US in 2023, often by citing misleading complaints about its cost, harm to wildlife and health threats. In a press conference today, Trump reiterated some of those concerns and said he wants the government to halt new development.

"It's the most expensive energy there is. It's many, many times more expensive than clean natural gas," Trump said. "So we're going to try and have a policy where no windmills are being built."

The US is on track to add more than 90GW of wind capacity by 2028, a nearly 60pc increase compared to 2024, the US Energy Information Administration (EIA) said in latest Annual Energy Outlook report. If that growth materializes, wind will become the second largest source of electricity in the US at the end of of Trump's term, overtaking coal and nuclear in 2027 and 2028, respectively, according to the EIA forecast.

Trump did not offer specifics on the policy, which he did not run on during his campaign. But the vast majority of wind capacity in the US is built on private land such as farms — largely in rural districts represented by Republicans — limiting the federal government's role. Trump could still threaten wind development by blocking projects on federal land, such as offshore wind projects, and working to repeal federal tax credits that subsidize wind.

Democratic lawmakers said blocking wind development will raise costs for consumers and reduce energy production. "Trump is against wind energy because he doesn't understand our country's energy needs and dislikes the sight of turbines near his private country clubs," said US Senate Finance Committee ranking member Ron Wyden (D-Oregon), who helped expand federal tax credits for wind through the 2022 Inflation Reduction Act. Wind energy industry officials also raised concerns with the policy, which they said conflicted with an all-of-the-above energy strategy.

"American presidents shouldn't be taking American resources away from the American people," American Clean Power chief executive Jason Grumet said.

'Gulf of America'

Trump today separately reiterated his vow to "immediately" reverse Biden's withdrawal of more than 625mn acres of waters for offshore drilling, and also said he would rename the Gulf of Mexico as the "Gulf of America", which he said was a "beautiful name".

In addition to expanding oil and gas production offshore, Trump said he will seek to drill in "a lot of other locations" as a way to lower prices.

"The energy costs are going to come way down," Trump said. "They'll be brought down to a very low level, and that's going to bring everything else down."

US consumers paid an average of $3.02/USG for regular grade gasoline in December, the lowest monthly price in more than three years. Henry Hub spot natural gas prices dropped to $2.19/mmBtu in 2024, the lowest price in four years. During his campaign, Trump said he would cut the price of energy in half within 12 months of taking office.


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06/03/25

Brazil oil sector sees opportunity in US tariffs

Brazil oil sector sees opportunity in US tariffs

Rio de Janeiro, 6 March (Argus) — Planned US tariffs on goods from Mexico and Canada could represent an opportunity for the Brazilian oil and natural gas sector, oil chamber IBP said. "These trade disputes, this increase in protectionism, could conversely create opportunities for us to reach new markets," IBP president Roberto Ardenghy told Argus. The tariffs announced by US president Donald Trump earlier this week on US imports from Mexico and Canada subject Canadian crude to a 10pc duty, while the blanket levy of 25pc would apply to Mexican petroleum. The tariffs' implementation now looks set to be delayed until next month. US commerce secretary Howard Lutnick, in a televised interview Thursday, said that all US imports from Canada and Mexico that are covered by the USMCA duty-free treatment will be exempt from tariffs until 2 April. Trump then confirmed this on social media in the case of Mexican products. The risk of tariffs and trade disputes is "part of the international day-to-day … of the commodities sector" and could open new markets for Brazil as it ramps up production, Ardenghy said. The US imported 6.49mn b/d of crude in 2023, with Canada accounting for around 60pc and Mexico for 11pc, according to the US Energy Information Administration. Brazilian crude accounted for just under 3pc, but it is Brazil's main export to the US. "We can imagine that if there is a significant decline in Canadian oil exports to the US, for cost reasons, then Brazil will have an opportunity to access the US market that it did not have in the past," Ardenghy said. The Brazilian oil sector is also eyeing openings in other markets such as Mexico, he said. Brazilian oil from the high-yield offshore pre-salt fields is low-sulfur and low-carbon, with average CO2 emissions of 11 kg/bl, making it more competitive in mature markets, including US states with more stringent carbon-content rules such as California and Colorado, Ardenghy said. The country's medium sweet grade is also an advantage, as it is adaptable to many refineries, he said. Crude overtook soybeans as Brazil's main export product for the first time ever in 2024, with exports totaling $44.9bn, according to government data. China accounted for 44pc of the total, at $20bn, while the US accounted for $5.8bn, or 13pc, of last year's oil exports. By Constance Malleret Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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US withdraws from S Africa’s JET Partnership: Update


06/03/25
News
06/03/25

US withdraws from S Africa’s JET Partnership: Update

Updates throughout, details on funding Cape Town, 6 March (Argus) — The US has withdrawn from the Just Energy Transition Partnership (JETP) with South Africa under which it pledged $1.56 billion for the country's decarbonisation. The US' pledges to South Africa's JET investment plan comprised $56mn in grant funds and $1bn in potential commercial investments by the US International Development Finance Corporation (DFC). No concessional loans were offered by the US to South Africa. The move follows US president Donald Trump's executive order in January to pull out of the landmark Paris climate agreement and other global climate pacts. The South African government was notified of the decision by the US Embassy on 28 February. The US' withdrawal from the JETP reduces the current overall international JET pledges to South Africa to $12.8bn from $13.8bn, said the JET project management unit (PMU) located in the presidency. These pledges represented a fraction of the 1.5 trillion rand ($84bn) that South Africa in its 2022 investment plan said it needed over a five-year period to implement a just energy transition. "South Africa remains steadfast in its commitment to achieving a just and equitable energy transition," said JET PMU head, Joanne Yawitch. All other JETP partners remain firmly committed to supporting South Africa's transition, she said. Germany, France, the UK, the Netherlands and Denmark, have confirmed they were still part of the partnership and will continue to provide support. But South Africa's international relations and cooperation department noted that "grant projects that were previously funded and in planning or implementation phases have been cancelled." Meanwhile, the JET PMU said it was "actively engaging with other grant-making organisations to source alternative funding for JET projects previously designated for support from the US grant funding." The UK, France, Germany, the US and EU in 2021 pledged $8.5bn under the JETP to support South Africa's transition to a low-carbon economy and, specifically, to accelerate its phase-out of coal-fired power. Denmark, the Netherlands and Spain subsequently joined the partnership. The US has withdrawn from the International Partners Group, an international alliance that includes UK, the EU, Canada, Denmark, France, Germany, Italy, Japan and Norway. This decision will affect other countries such as Indonesia and Vietnam, which had previously agreed their own JETP with IPG partners including the US. Indonesia climate envoy Hashim Djojohadikusumo earlier this year criticised the JETP process, saying it had "failed" and alleging that "not a single dollar has been disbursed by the US government". At present, South Africa lacks investible non-coal energy projects, risking fund disbursal from partner countries. South Africa's grid remains heavily reliant on coal-fired power and so far the country has not developed any substantial non-coal generation capacity, while at the same time it has extended the life of coal-fired plants that were previously due to be retired. Eskom's decision to delay the decommissioning of the Camden, Grootvlei and Hendrina coal-fired power plants from 2027 to 2030 required the investment plan for an accelerated coal phase-out to be updated. By Ashima Sharma and Elaine Mills Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Ireland risks €8bn-26bn costs for missed climate goals


06/03/25
News
06/03/25

Ireland risks €8bn-26bn costs for missed climate goals

London, 6 March (Argus) — Ireland could be subject to fines of €7.5bn-26.4bn ($8.1bn-28.6bn) if it fails to implement climate measures to meet its 2030 targets under EU regulations, a joint report by the country's Fiscal Advisory Council and Climate Change Advisory Council found. Missing Ireland's commitments could lead to costs of €5.4bn-16.2bn under the EU's effort sharing regulation (ESR), €1.6bn-5.8bn under the land use, land use change and forestry (LULUCF) regulation, and €0.5bn-4.4bn under the renewable energy directive (RED), the report found. Fully implementing the government's climate action plan by 2030 could reduce these costs, but they would still stand at €3.4bn-11.9bn, the report said — €2.7bn-7.6bn under the ESR, €0.5bn-1.7bn under the LULUCF regulation, and €0.2bn-2.6bn under RED. Ireland is on track to exceed its targeted 2030 emissions levels in the sectors covered by the ESR — domestic transport, buildings, small industry, waste and agriculture — by 57pc with existing measures, or by 28pc if additional planned measures are implemented, the report said. Ireland has the fifth-largest gap towards its ESR targets of any EU member state after Germany, France, Italy and Romania, according to the report. Overstepping the target would require Ireland to purchase emissions allowances from member states that have gone beyond their mandated cuts. The report projects the country's emissions under the LULUCF regulation to stand at more than double the targeted level in 2030 based on existing measures, or 7pc above with additional measures. And its renewable energy share under RED is expected to be 12 percentage points below mandated levels with existing measures, or marginally below without. Investing less than half of the maximum potential cost of non-compliance with the regulations in emissions-saving measures could lead to significant progress towards meeting the targets, the report found. Some €4bn could reduce the cost of 700,000 new electric vehicles — representing a third of households — to €15,000 per car and increase charging infrastructure, €7bn could upgrade the country's energy grid, and €1bn could support land improvements such as forestry and peatland restoration. "By not taking actions like these, Ireland faces a colossal missed opportunity to both reduce emissions in line with its commitments and deliver significant improvements in Irish society," the report said. By Victoria Hatherick Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Algeria's Feb crude exports up nearly a third


06/03/25
News
06/03/25

Algeria's Feb crude exports up nearly a third

London, 6 March (Argus) — Exports of Algerian crude grade Saharan Blend jumped sharply last month, driven by a rise in demand from French refineries. Total exports of the light sweet crude rose by 31pc on the month to around 445,000 b/d in February, according to Argus tracking data. Loadings in January were just 341,000 b/d, the lowest level since November 2022. Some 348,000 b/d of February-loading Saharan Blend was shipped to northwest Europe and the Mediterranean, up by 26pc compared with January. Around a third went to France alone, while Ireland took its first cargo of Saharan Blend since June 2018. Loadings to France surged to 111,000 b/d in February after hitting a multi-year low of 20,000 b/d in January. Spring refinery maintenance in France is light this year, leading to a total of nearly 980,000 b/d of crude arriving in January-February, up from an intake of 850,000 b/d in the same two-month period last year, Vortexa data show. The increased interest for Saharan Blend from France's refineries last month coincided with a drop in deliveries of Nigerian grades. Around 112,000 b/d of Nigerian crude arrived at French ports in February, down by 35pc from January, according to Vortexa. The boost in French demand supported Saharan Blend price differentials in January, when most February-loading cargoes traded. The grade was assessed at an average premium of 97¢/bl to the North Sea Dated benchmark in January, up from a 36¢/bl premium in the previous month. Exports of Saharan Blend to Asia-Pacific jumped by 86pc on the month to 72,000 b/d in February, after a 2mn bl cargo loaded onto a VLCC for South Korea. January-loading exports to the region comprised just one Suezmax-sized shipment to India. Loadings to the Americas inched down by 3pc on the month to reach 25,000 b/d in February. Just one cargo went transatlantic in both January and February, after a hiatus in December. By Melissa Gurusinghe Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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LNG truck loadings slide at Gate, Elengy terminals


06/03/25
News
06/03/25

LNG truck loadings slide at Gate, Elengy terminals

London, 6 March (Argus) — Demand for LNG as a road fuel at the Netherlands' Gate and France operator Elengy's Montoir and Fos terminals decreased in 2024 compared with earlier years, at least in part because trucks operating in Germany are increasingly choosing to run on bio-LNG which is available in only limited quantities at these terminals. The number of truck loadings at the Netherlands' Gate terminal decreased by about 30pc in 2024 compared with 2023, commercial manager Stefaan Adriaens said at last month's small-scale LNG summit in Milan. That is despite the terminal having launched two new truck loading bays in September. Truck loadings have similarly decreased at French LNG operator Elengy's Montoir and Fos-sur-Mer terminals. The number of used slots at Montoir totalled 2,676 in 2024, down from 2,968 in 2022, according to Elengy data, although the terminal underwent a lengthy maintenance period in 2024. Aggregate loadings at Fos Cavaou and Tonkin decreased to 7,812 in 2024 from 8,822 in 2022. The number of available truck loading slots at all three terminals increased to 19,400 from 18,800 over the same period. The fall in truck loadings at Gate and the Elengy terminals is likely to reflect vehicles choosing to load at other terminals in northwest Europe. About 85pc of the 9,000 LNG truck loading slots sold at Belgium's Zeebrugge terminal for 2024 were used, terminal operator Fluxys told Argus . The 7,650 trucks loaded in 2024 marks a step up from 6,530 in 2022, according to the latest available data published by Gas LNG Europe. Fluxys refused to say how many of the 8,000 slots sold for 2023 were used. Shell also started operations at a 100,000 t/yr bio-LNG liquefaction plant in Cologne in April , which is capable of loading 4,000-5,000 trucks a year. This plant is closer to more LNG refuelling stations than Gate and Zeebrugge, which cuts down on inland freight costs. Many of the LNG-powered trucks operating in Germany are choosing to operate on bio-LNG, market participants said, which is likely to have weighed on the demand for loadings of conventional LNG from the Gate and Elengy terminals. Gate's bio-LNG capacity is limited to 100,000 t/yr at present, all of which was sold out in 2024, while Elengy does not yet provide bio-LNG services at its terminals. Adriaens said in December that 72pc of trucked LNG in Germany is bio-LNG. The Gate and Elengy terminals have experienced waning demand for LNG as a road fuel even though the number of LNG-fuelled trucks has increased each successive year since 2020, according to data from the European Commission's alternative fuels observatory ( see truck graph ). About 10,700 LNG-fuelled trucks were in operation across the EU in 2024, up from just 6,000 in 2020. Although the number of LNG-powered trucks on the roads has increased in recent years, the registration of new vehicles has slowed. About 1,580 new LNG-powered trucks were registered in 2024, down from a high of 2,022 in 2021. Registrations of LNG-fuelled vehicles are still recovering from a sharp drop in 2022, when hub prices across Europe spiked ( see price graph ). Adriaens said that the extreme prices of this period have discouraged the use of LNG as a road fuel and weighed on the number of orders being made for LNG-powered vehicles. By Cerys Edwards Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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