Argus Media – News & analysis

Germany to Include CCS-Based H2 in 'Acceleration Law'

Germany's Bundestag will vote on a hydrogen acceleration law that expands eligible infrastructure to include carbon‑capture‑and‑storage (CCS) based hydrogen production. The amendment also adds import facilities for power‑to‑liquid fuels such as synthetic aviation fuel. Projects designated as "overriding public interest"...

Med Gasoline Market Diverges From Northwest Europe

The Mediterranean gasoline market is diverging from northwest Europe as several key fluid catalytic cracker units undergo maintenance, notably Helleniq Energy’s Aspropyrgos refinery in Greece and Eni’s Milazzo refinery in Italy. With offshore capacity constrained, February‑March spreads have turned backwardated—a...

Motiva Announces US Group II Base Oil Posting Decrease

Motiva announced a $0.50 per US‑gallon reduction to its Group II, II+ and III base‑oil postings, effective 1 March. The cut could translate into contract price declines of 10‑15¢/USG for parties linked to Motiva’s postings or to basket indices, while blenders with...

UK to Remove Turkish HDG Quota Exemption

The UK Trade Remedies Authority (TRA) plans to strip Turkey of its developing‑economy exemption for hot‑dip galvanised (HDG) steel, moving Turkish shipments into the capped “other countries” quota. The move follows Tata Steel’s complaint that Turkish imports surged to 58,030 t...

ET Fuels Secures Bunkering Buyer for Texas E-Methanol

Irish developer ET Fuels has signed a binding long‑term offtake agreement with UK shipping firm RFOcean to supply e‑methanol at a fixed price starting in 2030. The fuel will be produced at ET Fuels’ advanced Rattlesnake Gap plant in Texas,...

Ukrainian Bitumen Imports to Remain Steady in 2026

Ukrainian bitumen imports held steady in 2026, following a record‑high 190,000 tonnes in 2025 after a 111,700‑tonne year‑on‑year jump. Major suppliers from Poland and Lithuania, led by Orlen, plan to ship roughly 100,000 tonnes this year, while Orlen Lietuva targets about 550,000 tonnes...

Egypt’s NCIC Awards Fertilizers Sales Tender: Update

Egyptian state‑owned NCIC announced the award of its latest fertilizer sales tender on 19 February, covering March loading. The tender granted 20,000 t of DAP at $750/t FOB, 25,000 t of TSP at $560/t FOB, 20,000 t of granular urea at $492/t FOB, 20,000 t...

Most US Ferts Cleared Under New Import Policy

The Trump administration announced a 10% import tariff effective Feb 24, but most fertilizers remain exempt, including urea, ammonium nitrate, UAN, DAP, MAP and other key products. The exemption does not cover sulfur, sulfuric acid and ammonia unless they enter through...

India’s NPK/NP Stocks Rise in January

India’s NPK and NP fertilizer stocks rose sharply in January as production climbed to 1.14 mn t, a 2% year‑on‑year increase and the highest monthly output of the 2025‑26 fertilizer year. Sales fell 14% YoY to 965,100 t and imports dropped 16% YoY...

German Distillate Demand Falls on Higher Prices

German demand for middle distillates weakened in mid‑February as higher ICE gasoil futures pushed up prices. Heating oil volumes fell nearly 13% and diesel sales dropped about 12%, while gasoline saw a modest rise on increased travel. Supply remains ample,...

Denmark Considers Extending N Sea Production Licences

Denmark announced it will start a process to consider extending one or more North Sea gas production licences beyond their 2042 expiry, potentially up to 2050. The move aims to bolster European energy security while still fitting within the 2020...

Ghana's Tema Refinery Says RFCC Due Online by May

Ghana's 45,000 b/d Tema Oil Refinery is conducting a major turnaround on its 14,000 b/d residual fluid catalytic cracker (RFCC), which has been offline since the plant’s restart at the end of December. The work is slated to finish by late April...

Indian DAP Stocks Fall Again in January

Indian DAP stocks slipped to just under 1.9 million tonnes in January, marking the fourth consecutive monthly draw. Imports plunged to 70,000 t while domestic production held steady at 342,000 t, and sales rose to 535,000 t, outpacing the three‑year average. Despite the short‑term...

Trump Threatens 'Global' Tariff on Aluminum Scrap

President Donald Trump signaled a possible 10% tariff on U.S. aluminum scrap imports after the Supreme Court struck down his earlier country‑specific duties. He indicated the executive order would invoke Section 122 of the 1974 Trade Act, which permits duties...

Venezuela to Export First Asphalt Since May

Venezuela has begun its first asphalt export since the U.S. revoked sanctions waivers in May 2025, with the 36,681‑dwt vessel The Judge loading at Amuay Bay. The shipment follows new OFAC general licenses issued on Jan 29 that lifted restrictions on...

VAROPreem to Acquire Sunpine, Sweden’s Tall Oil Refiner

VAROPreem announced its intention to acquire Sunpine, a Swedish tall oil refining company. The acquisition aims to expand VAROPreem’s presence in the renewable oil market. Financial terms were not disclosed.

House E15 Council Eyes More US Biofuel Quota Waivers

The House Republican‑led E15 Rural Domestic Energy Council has revised its biofuel exemption plan, raising the annual cap from 450 million to 550 million Renewable Identification Number (RIN) credits. The proposal also authorizes year‑round sales of 15% ethanol gasoline (E15) and expands...

Kazakhstan Thermal Coal Production Falls in Jan

Kazakhstan’s thermal coal production slipped 1.7% YoY to 9.92 million tonnes in January, while total coal output fell 0.7% to 10.31 million tonnes. Despite the dip, the government is rolling out a national project to add about 7.6 GW of coal‑fired capacity by...

Spanish Spot to Deliver Well Below Feb Expectations

The Spanish electricity spot index plunged to an average €12.66/MWh for 1‑20 February, far below the €50.55/MWh forward contract and last year’s €116.88/MWh level. Wind generation surged 123% year‑on‑year to 11.2 GW, while gas‑fired output fell 25% to 3.6 GW, driving the price...

Equinor Halts Dutch CCS-H2 Plans, Belgian Site Still On

Equinor has scrapped its Dutch H2M Eemshaven CCS‑hydrogen project, citing policy uncertainty and insufficient funding, while the Belgian H2BE plant remains on schedule. Both plants were designed to produce 210,000 t/yr of low‑carbon hydrogen using autothermal reforming and each received roughly €160 million...

South Africa’s Kropz Raises Phosrock Output, Grade

South African phosphate rock producer Kropz has lifted monthly output to roughly 40,000 tonnes, a 33% increase over last year. The company now ships rock averaging 30% P₂O₅, but recently exported a 31.1% P₂O₅ cargo to South Korea, its highest‑grade...

Saudi Maaden Sells DAP to Latam

Saudi Maaden announced the sale of 45,000‑50,000 tonnes of diammonium phosphate (DAP) at $715‑720 per tonne FOB, with loading slated for early March. The cargo is destined for Latin America, with Argentina emerging as the most probable off‑take market. Net...

German Car Manufacturing Sector Power Demand Could Fall

Germany’s passenger‑vehicle manufacturing sector is set to see a drop in electricity consumption as overall car output declines, VDA chief economist Manuel Kallweit warned. Power use fell to 12.86 TWh in 2024, about 2.8% of national electricity, and is projected to...

French Urea Imports Surge in 2H 2025

France’s urea imports surged to 1.15 million tonnes in the July‑December 2025 period, up from 842,000 tonnes a year earlier, as buyers rushed to stock ahead of the EU’s Carbon Border Adjustment Mechanism (CBAM). December shipments more than doubled the three‑year monthly...

Australia’s BHP to Invest in Copper Projects

Egypt’s NCIC Issues Fertilizer Sales Tender: Correction

Egyptian fertilizer producer NCIC announced a new tender for March‑loading shipments, closing on 19 February. The offer includes 1,000 t water‑soluble SOP, 20,000 t CAN26 (grade corrected), 20,000 t granular urea, 25,000 t TSP and 20,000 t DAP. Prices reference previous tender sales, with urea spot...

AOM Biodiesel Deals Hit 2-Year High in January

European biodiesel trading on Argus Open Markets surged to its strongest January level in two years, driven by the EU’s revised Renewable Energy Directive (RED III) and Germany’s new rule eliminating carry‑over of surplus GHG certificates. The stricter mandates, which require...

Turkey Secures Barley at Prices Below Initial Tender

Turkey's state grain buyer TMO closed a February tender for 195,000 t of feed barley at $266.20‑268.20 per tonne, pricing below the initial offers. Only 50,000 t were contracted on a CFR basis, with the remainder secured ex‑works from Turkish port stocks....

Singapore's Bunker Sales Rise on Strong Demand in Jan

Singapore’s bunker sales jumped 17% year‑on‑year to 5.23 million tonnes in January, driven by a 12% rise in vessel arrivals and strong demand for conventional marine fuels. High‑sulphur fuel oil (HSFO) reached a post‑2020 record of 2.16 million tonnes, while very‑low‑sulphur fuel...

Australian Firms Raise Gasoil Stocks to Meet Obligation

Australian fuel companies have boosted their gasoil inventories to satisfy the government‑mandated Minimum Stockholding Obligation (MSO). The MSO now requires importers to hold 32 days of gasoil and refiners 20 days, tightening the previous rules. All ten gasoil‑reporting firms met...

Rio Tinto Pauses Simandou Iron Ore Mine in Guinea

Rio Tinto has suspended production at its Simandou iron ore mine in Guinea following the death of a contractor on February 14. The company announced a thorough investigation, though details on the cause remain undisclosed. Simandou, which began shipments in...

Brazil Corn: Bids Rise Further

Bids for Brazil's Santos/Tubarao and Barcarena/Itaqui corn cargo markets rose on Friday, driven by a sudden influx of buyers ahead of the Carnaval holiday. Sellers, however, remain reluctant to negotiate, limiting the sustainability of higher prices. Farmers are curbing forward...

Argentina's Drought Continues to Hit Corn, Soy

Argentina’s early‑February drought is already cutting corn and soybean yields, with Córdoba corn farmers reporting 10‑20 % losses and average yields falling to 6.4‑7 t/ha. In the core soy region, more than 500,000 t of soybeans are lost, pushing yields to about 3.8 t/ha....

US Climate Rollback Set to Raise Gasoline Prices

The EPA’s own analysis shows that eliminating federal greenhouse‑gas standards for cars could lift gasoline prices by up to 29% by 2050, adding roughly 75 cents per gallon in constant dollars. Over the 2026‑2055 horizon, consumers may face a net...

Carbon — In Focus: EU ETS in Political Crosshairs

Political scrutiny of the EU emissions trading system intensified in mid‑February, pushing the front‑year EU ETS contract down almost 6% on Feb 5 and a further 7% after German Chancellor Friedrich Merz’s comments. EU officials denied reports of extending free‑allowance allocations beyond...

Australia Should Have CBAM on some Commodities: Review

Australia’s latest carbon leakage review recommends a carbon border adjustment mechanism (CBAM), beginning with cement and clinker imports and potentially expanding to hydrogen, steel, ammonia and related products. The review, led by ANU professor Frank Jotzo, evaluated 75 trade‑exposed commodities...

BNP Election Win Could Reshape Bangladesh's Energy Mix

The Bangladesh Nationalist Party secured a decisive parliamentary majority, clearing the path for a sweeping overhaul of the nation’s energy strategy. Its manifesto pledges to lift renewable power to 20% of the mix by 2030, a dramatic rise from today’s...

Singapore Mulls Keeping Carbon Tax at Low End of Target

Singapore’s finance minister said the city‑state may keep its carbon tax near the low end of the $50‑80 per tonne range slated for 2030, after noting a slowdown in global climate momentum. The current levy sits at S$45 (~$35.60) per tonne, already...

US Aims to Process Critical Minerals in Brazil

The United States is actively negotiating with Brazil to develop processing capacity for heavy rare earths, leveraging financing from the Development Finance Corporation. Recent DFC investments have backed the Serra Verde and Aclara rare‑earth projects, which together aim to boost...