Market Talks: Brazil tries to balance oil exploration and climate leadership at COP30

Com mais de 70 projetos em diferentes estágios de desenvolvimento, o Brasil desponta como um dos principais mercados para o hidrogênio verde. A produção nacional, que inclui rotas inovadoras como a conversão de etanol e biometano, busca atender tanto à demanda interna — especialmente na indústria de fertilizantes — quanto ao mercado externo. Apesar do avanço, gargalos na rede elétrica e desafios regulatórios ainda limitam o crescimento do setor e exigem investimentos para garantir competitividade. Para entender mais sobre hidrogênio verde, ouça a conversa entre Maria Albuquerque, especialista da publicação Argus Brasil Combustíveis, e Victor Uchoa, líder da área de consultoria da Argus para a América Latina. 

This episode unpacks how South Korea’s aggressive condensate buying and Russian export disruptions have reshaped Asia’s light ends market. We explore the ripple effects on pricing, trade flows, and regional supply, as well as the impact of Middle East refinery turnarounds. With premiums surging and availability tightening, we look ahead to Q4 and what it means for buyers navigating a volatile condensate and naphtha landscape. Topics Covered: • South Korea’s aggressive condensate buying spree Driven by fears of naphtha shortages, South Korean refiners are snapping up regional condensate and ultra-light crude grades, pushing out traditional buyers like Indonesia’s TPPI. • Russian export disruptions following the Ust-Luga terminal attack The late-August drone strike on Novatek’s facility has halted condensate splitter operations, slashing naphtha exports to Asia and tightening regional supply. • Middle East refinery turnarounds tightening naphtha supply Planned maintenance at Kuwait’s Mina Abdullah and Saudi Arabia’s Satorp refineries in Q4 is expected to reduce naphtha output, compounding the supply crunch. • Surging spot premiums across condensate and naphtha markets Premiums for grades like Ichthys, Cossack, and Kutubu Light have hit multi-year highs, while naphtha cracks and spot premiums have climbed amid tighter availability and shifting trade flows.

In the latest episode of the Crude Report: TMX Series, Argus Americas Crude west coast reporter John Cordner talks with deputy editor Amanda Smith about Canadian crude exports via the Trans Mountain pipeline. Increased production and more favorable arbitrage economics are expected to boost waterborne exports from the Vancouver area. Topics discussed: Although most Canadian crude exports head to the US, last year’s Trans Mountain Pipeline Expansion (TMX) has provided the conduit to export an average of 440,000 b/d to the US west coast and Asia this year. Canadian and condensate production is projected to reach a record 5.05mn b/d in the fourth quarter, increasing the need for export capacity. December TMX export volumes may match March’s record levels of 530,000 b/d, with indications suggesting the heavy Canadian waterborne fob Vancouver premium to inland prices in Alberta will be high enough to make pipeline flows more lucrative.

In this episode of the Biofuels Report, marine fuel reporters Luis Gronda and Natália Coelho explore the International Maritime Organization’s proposed carbon levy for shipping, global reactions to the plan, and what it could mean for the future of marine fuels and emissions targets.

Como anfitrión de la COP30, Brasil se posiciona como líder en la agenda climática, mientras avanza con ambiciones crecientes en la exploración petrolera. Conozca los temas en juego en la convención de la ONU contra el calentamiento global en esta conversación entre Camila Fontana, sub-jefa de la oficina de Argus en São Paulo, y Lucas Parolin, editor de noticias que cubrirá la COP30 en Belém, en noviembre.

Ahead of COP30, Brazil is positioning itself as a leader of the climate agenda, while moving ahead with increasing ambitions in oil exploration. Can the host of the UN’s convention against global warming strike a balance? Join the talk between Camila Fontana, deputy bureau chief of the Argus office in Sao Paulo, and Brazil news editor Lucas Parolin, who will be covering the COP30 in Belem in November.

Anfitrião da COP30, o Brasil se posiciona como líder na agenda climática, ao mesmo tempo em que avança com ambições crescentes na exploração de petróleo. Entenda as pautas em jogo na convenção da ONU contra o aquecimento global nessa conversa entre Camila Fontana, chefe adjunta da redação da Argus em São Paulo, e Lucas Parolin, editor de notícias que fará a cobertura da COP30 em Belém, em novembro.

In this episode, James Elliott, VP of Business Development, is joined by Dila Odluyurt, Senior Reporter for Polymers, about the shifting landscape in Turkey’s polyethylene and polypropylene markets. From stockpiling triggered by Middle East tensions to cautious buying amid currency volatility, find out what’s driving sentiment, and what might come next. Key topics discussed: - Why Turkish polymer demand remains weak despite price fluctuations - How Middle East tensions and new capacity influenced stockpiling - On-the-ground insights from Gaziantep end users and contract pricing trends - Expectations for further PP price declines and cautious buying behaviour

Listen to Argus' analysis of the long steel market, with a particular focus on China. This episode covers: What caused the recent fluctuations in Chinese rebar export prices? How did trade measures affect export sentiment and pricing? What are the market expectations for Chinese rebar and billet exports in the coming months? How did domestic demand trends in August impact export volumes and producer strategies? What is the outlook for China’s steel capacity exit and the role of electric arc furnaces?

In this episode, Felix Todd, Deputy Editor for Argus Carbon, and Harshad Kolpyakwar, Head of Product Management and Energy Solutions at FIS Global, explore how technology is transforming carbon markets and helping address key challenges. Harshad leads the vision and product strategy for Aligne, the FIS Energy Trading Risk and Logistics platform. Aligne is a cloud-native, multi-commodity ETRM that streamlines trading, risk, logistics, and reporting across power, gas, LNG, refined products, and emissions. With ~20 years in energy market data and analytics, Harshad focuses on simplifying energy market complexity, integrating emissions management, and enabling clients to scale confidently. Tune in for expert insights on: Current challenges in carbon markets, including transparency and pricing issues VCM facing issues with lack of standardisation, project integrity, and demanding due diligence How ETRM systems address market and operational challenges The future growth potential for carbon markets