Renewable Fuels








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North America

Environment

Biden group sets out course for ethanol aviation fuel subsidies

President Joe Biden's. administration on Tuesday released assistance on its sustainable. aviation fuel (SAF) aid program that permits cornbased. ethanol to qualify as a feedstock provided it is sourced from. farms that use climatefriendly growing strategies. The strategy is likely to be bittersweet for the politically. powerful U.S. ethanol market that is eager to secure the. aids however had wished for a lower hurdle. Flight so far accounts for about 2% of U.S. carbon. contamination and is one of the fastest growing sources. Biden hopes producing a subsidized market for lower-emissions. SAF can counter that danger, while likewise giving a...

Energy Markets

Biden team sets out ethanol's path to air travel fuel subsidies

The Biden administration on Tuesday released assistance on its sustainable aviation fuel (SAF) aid program that permits cornbased ethanol to qualify as a feedstock provided it is sourced from farms that utilize climatefriendly growing techniques. The strategy is likely to be bittersweet for the politically-powerful U.S. ethanol market that aspires to protect the aids however had actually wished for a lower hurdle. Flight up until now represents about 2% of U.S. carbon pollution and is among the fastest growing sources. President Joe Biden hopes that producing a subsidized market for lower-emissions SAF can consist of that risk, while also giving...

Oil & Gas

US gas rates set to lose steam ahead of summer driving season

A spring rise in U.S. gas prices is set to blow over earlier than anticipated as geopolitical issues abate, raising optimism that motorists will discover some relief at the pump ahead of peak summer travel need. U.S. gas rates are under a microscope ahead of the country's governmental elections in November, with stickiness in inflation among top concerns plaguing customers and policymakers. After Russia's intrusion of Ukraine led to record-breaking rates at the pumps in summertime 2022, intensifying tensions in the Middle East and Ukrainian drone strikes on Russian refineries had some analysts fearing a repeat this year. Nevertheless, signs...

Pollution

United States EPA allows temporary expansion of higher-ethanol fuel mix this summer season

The U.S. Environmental Security Agency will temporarily expand sales of higherethanol blends of gasoline this summer season in an effort to decrease potential supply interruptions amidst ongoing disputes in Ukraine and the Middle East, it said in a letter dated Friday. exclusively reported the upcoming statement on Thursday. The decision marks the third successive year the administration has extended the duration during which Americans can keep purchasing E15, a gasoline that utilizes a 15% ethanol blend. Sales are successfully obstructed from June 1 to Sept. . Adding ethanol to gasoline is understood to increase smog contamination in hot weather, but...

Pollution

Canada signs hydrogen handle Germany, points out requirement to shun Russia energy

Canada, mentioning the need to shun Russian energy, on Monday signed an agreement with Germany that it stated would accelerate work towards the commercialscale trade of tidy hydrogen fuel. The 2 nations tattooed a memorandum of understanding that dedicates them to backing deals between Canadian hydrogen producers and Germany's industrial manufacturing and energy distribution sectors. Canada is working with European allies to displace imports of Russian oil and gas and fight climate modification with tidy Canadian hydrogen. Canada can be a world-leading producer and exporter of tidy hydrogen, the federal natural deposits ministry stated in a statement. Hydrogen is a...

Oil & Gas

USDA's Vilsack confident in E15 fuel growth for 2025

U.S. Agriculture Secretary Tom Vilsack stated on Tuesday he was confident that broadened sales of gasoline with higher blends of ethanol would be available throughout the country in 2025. He included that, up until then, the administration would likely concern momentary waivers this summer to allow such sales as needed. reported earlier on Tuesday according to anonymous sources that the administration by late March will authorize a demand from a group of Midwest governors to permit year-round sales of E15, or gas with 15%. ethanol, but will push the start date into next year. In 2022, the states of Illinois,...

Renewable Fuels

Iveco focuses on partnerships to achieve a 20% growth in revenue by 2028

Iveco Group, a bus and truck manufacturer in Italy, said it would focus on developing new, deeper partnerships to drive future growth. The company unveiled its new five-year plan on Thursday that aims for a 20% increase in revenue by the year 2028. It said that the group, which is controlled by Exor, a family investment company, will invest 6 billion euros between now and 2028. The focus of this investment will be on the energy transition, software defined vehicles and artificial intelligence, as well as autonomous driving. On Thursday, it announced a preliminary agreement with Ford Trucks (the heavy...

Renewable Fuels

Activist Elliott has accepted Phillips 66's performance goals, CEO Lashier says

Activist financier Elliott Investment Management has actually accepted the performance enhancement plan that U.S. oil refiner Phillips 66 laid out to improve investor returns and share price, President Mark Lashier said in an interview on Tuesday. They have actually bought into our plans that we currently had in place, the CEO of one of the largest U.S. oil refiners said at its Houston head office. Elliott sent out a letter to the company's board last fall, divulging a $1 billion stake in the business, and calling for additions to its board of directors and a focus on improving its oil...

Pollution

United States bets on environment friendly farming; specialists question it is climate friendly enough

President Joe Biden's. administration is offering farmers money for embracing practices. that store carbon in the soil to fight climate change, but. interviews with soil science specialists and an evaluation of. U.S. Department of Agriculture research show doubt that the. technique will be effective. Farm practices like planting cover crops and lowering. farmland tilling are key to the USDA's plan for slashing. farming's 10% contribution to U.S. greenhouse gas emissions. as the U.S. pursues net-zero by 2050. Ethanol producers likewise. hope those practices will assist them protect financially rewarding tax credits. for sustainable air travel fuel (SAF) passed in the...

Nuclear Power

United States, Japan announce partnership to speed up nuclear fusion

The United States and Japan on Wednesday announced a joint collaboration to accelerate advancement and commercialization of nuclear fusion. The collaboration was revealed as Japanese Prime Minister Fumio Kishida remained in Washington for a top with President Joe Biden. U.S. Deputy Secretary of Energy David Turk and Japan's. minister of education, sports, science and technology, Masahito. Moriyama, fulfilled in Washington on Tuesday to discuss blend. The partnership will focus on the clinical and technical. obstacles of delivering industrial combination and expand work. in between U.S. and Japanese universities, national labs. and personal business, the U.S. Department of Energy said. Scientists,...

Carbon Emissions

United States climate law has actually improved solar, batteries; hydrogen, other initiatives lag

The U.S. has doubled the rate of cutting carbon emissions given that President Joe Biden's. Inflation Reduction Act (INDIVIDUAL RETIREMENT ACCOUNT) passed in 2022, analysts and. scientists stated, with more than 80 solar, wind and energy. storage tasks benefiting from the law's mix of direct. payments and tax credits. The individual retirement account and the Bipartisan Facilities Law in 2015. provided $239 billion for clean energy, electrical cars (EVs),. electrification of structures, and carbon management in the U.S.,. up 38% from 2022, according to the Clean Financial investment Monitor, a. joint job of the policy scientist Rhodium Group and MIT....

Environment

Hydrogen industry pleads for much easier path to United States tax credits

Some business preparing to utilize brand-new U.S. tax credits to release hydrogen jobs advised the Treasury Department today to ease suggested environmental requirements, cautioning that they could prevent the nascent market's launch. Treasury and the Irs hosted hearings this week on the guidance they released in December governing application of the Tidy Hydrogen Production, or 45V, tax credit, one of the most rewarding rewards in the 2022 Inflation Reduction Act. The credit would develop a 10-year reward for tidy hydrogen production of approximately $3.00/ kg. The credit has actually been at the center of heavy lobbying by market groups seeking...

Europe

Fossil Fuels

Verbio says volatile market environment impacts Q3 2023/24 earnings

VERBIO SE: * Q3 2023/24: VOLATILE MARKET ENVIRONMENT AFFECTS PROFITS * EXPECTS SIGNIFICANT IMPROVEMENTS IN EARNINGS IN Q4 2023/24 * Q3 2023/24 EBITDA LOWER THAN IN COMPARABLE PRIOR-YEAR PERIOD AND PREVIOUS QUARTER * WEB FINANCIAL OBLIGATION AT MARCH 31, 2024 TOTALLED EUR 55.0 MILLION ( JUNE 30, 2023: NET FINANCIAL ASSETS OF EUR 57.4 MILLION) * EQUITY RATIO WAS 68.4 PERCENT (JUNE 30, 2023: 70.3 PERCENT) * SAYS AS EXPECTED, IT WAS NOT YET POSSIBLE TO REVERSE DOWN TREND SEEN IN Q2 OF 2023/24 (EBITDA Q2 2023/24: EUR 26.1 MILLION) * STATES LOWER INCOME TRENDS IN BIODIESEL SECTION IN Q3...

Refined Products

Air New Zealand to purchase green fuel from Finland's Neste to satisfy net-zero targets

Air New Zealand on Monday signed its largest deal for sustainable air travel fuel (SAF),. with Finlandbased petroleum refiner Neste, in a bid. to decarbonize and meet its netzero carbon emission targets. The deal involves the purchase of nine million liters of the. green fuel, which will be produced at Neste's Singapore refinery. and supplied to Los Angeles International Airport between April. 1 and Nov. 30, 2024, the airline stated in a statement. The choice comes weeks after Air New Zealand sought out. startups in the SAF sector to become its supply partner. The SAF is expected to deliver a...

Energy Markets

Japanese consortium to invest $370 mln in I Squared Capital's India gas platform

A Japanese consortium will invest $ 370 million to acquire a minority stake in a platform that invests in companies establishing city gas distribution networks in India, worldwide infrastructure financier I Squared Capital stated on Monday. The consortium of Osaka Gas, Sumitomo Corp. and a Japanese government-private sponsored investment fund,. will purchase Indian companies that establish and operate natural. gas facilities, I Squared Capital said in a declaration. The platform, called the Natural Gas Transition. Platform, has financial investments in last-mile city gas distribution. companies including THINK Gas and AG&P Pratham that are. establishing city gas infrastructure across 19 geographical...

Western Europe

South America

Renewable Fuels

Brazil's new sugarcane crop seen 3.8% down; planting rises 4.1%.

Brazil's new sugarcane crop will be just a little smaller sized than the record previous one, federal government firm Conab stated on Thursday, and sugar production will reach a perpetuity high as higher planting partly offsets falling agricultural yields. Conab forecasted Brazil's 2024/25 (April-March) overall sugarcane crop at 685.86 million metric tons, 3.8% less than in 2023/24. The fall in total walking cane volume is smaller than the expected decline of 7.6% in agricultural yields due to below-average rains and excessive heat. That is an outcome of a. 4.1% increase in planted location to 8.67 million hectares. Conab shocked the...

Renewable Fuels

Brazil's Timbro to export 40% more sugar, go into ethanol market in 2024

Brazilian international trade platform Timbro expects to increase its sugar exports by more than 40% in 2024 to 2 million metric tons, while also expanding operations to enter the ethanol market, a top executive told . Timbro exported 1.4 million tons of sugar in 2023, up 75%. from the previous year and a significant jump from the 50,000 tons. delivered in 2018. It intends to offer 50 million liters of ethanol. this year as it continues to grow its footprint. Ethanol is a method for us to be more versatile with the mills. and mitigate organization danger - if the...

Fossil Fuels

US cuts forecast for corn stocks as more grain goes toward ethanol, feed

The U.S. Department of Agriculture cut its outlook for domestic corn ending stocks on Thursday as the government stated more of the grain will be used to make ethanol biofuel and feed for stock. Forecasts for U.S. corn use increased after futures rates was up to three-year lows this year, but international corn products are still thought about plentiful and corn prices were trading lower after the report. U.S. corn stocks are predicted at 2.122 billion bushels by completion of the 2023-24 marketing year on Aug. 31, below USDA's previous projection for 2.172 billion bushels. Analysts had anticipated an even...

Fossil Fuels

Brazil's sugar production predicted to fall 4.8% in 2024/25, says Datagro

Brazilian mills in the primary sugar area of CentreSouth (CS) are forecasted to produce 4.8% less sugar in the new season that begins in April, compared with the previous crop, consultancy Datagro stated in a. discussion on Wednesday. Datagro predicted Brazil's 2024/25 sugar output at 40.45. million metric tons versus 42.50 million loads in 2023/24, saying. that drier-than-normal weather in producing locations considering that November. will cut sugarcane volume by 9.8% to 592 million tons. Datagro's chief analyst Plinio Nastari stated during the. presentation that farming yields in Brazil's CS will likely. fall to 78.8 tons of sugarcane per hectare...

Energy Markets

Brazil's March sugarcane crush higher than in previous year

Brazil's sugarcane market reported a much greater squashing volume in the very first half of March than at the very same time last year as more mills operated, a. report released on Wednesday by industry group Unica revealed. Mills in the primary Centre-South (CS) sugar region crushed. 2.22 million metric lots of sugarcane in the first half of. March, 267% more than in 2015. Unica said that 40 plants were. running during that duration, compared to 23 in 2023. It is still a small squashing volume when compared to peak. crop months mid-year, but demonstrates cane is prepared for. Brazil's...

Oil & Gas Exploration

Ecopetrol and Petrobras should team up on green hydrogen, Colombian president says

Colombian state energy company Ecopetrol and its Brazilian equivalent Petrobras ought to collaborate on developing green hydrogen, Colombian President Gustavo Petro stated on Wednesday after meeting Brazilian President Luiz Inacio Lula da Silva. There is a project that I believe we might take a look at through our 2 huge oil business, Petrobras and Ecopetrol, together in a clean energy job, Petro told a bilateral business online forum in Bogota after the two men met independently. I propose a common project in green hydrogen in Colombia and Brazil so we can be the lead of tidy energy in South America...

Renewable Fuels

Brazil's 2024 ethanol exports seen strong, helped by corn ethanol, Argus says

Brazil has the potential to preserve exports of ethanol at strong levels in 2024, after in 2015 publishing the highest volumes since 2020 due to an boost in corn ethanol supply, an Argus Media professional said on Wednesday. Brazil's overall ethanol shipments stand at 2.558 billion liters last year, up 2.5% from 2022, the very best performance given that 2020 when it had exported 2.7 billion liters, according to trade figures put together by Argus Media, which specializes in pricing and speaking with services. The volume should stay strong (in 2024), in between 2.1 billion and 2.5 billion liters, Amance...

Renewable Fuels

Chile aims to have first massive sustainable air travel fuel factory by 2030

Chile aims to start producing sustainable aviation fuel (SAF) in a large plant by 2030 and use the fuel made from oils, fats, and biological and community waste for half of its aviation requires by 2050, a. government report released on Wednesday stated. The 2050 SAF Roadmap report existed by Fernanda. Cabañas, program planner for Chile's public-private Clean. Flight task that intends to decarbonize the country's airline. market, at an aviation conference in Santiago. Chile expects air traffic to double by 2040 and SAF is. important in assisting the country fulfill its decarbonization objectives,. the report said. SAF can be...