Crude Processing

Bharat Petroleum Corporation Limited (BPCL), one of India’s largest state-run refiners, is increasing its purchases of crude oil from the Middle East in response to declining supplies from Russia.

South Korean refiners are grappling with rising crude oil settlement costs, driven by the rapid depreciation of the local currency, the won, which has reached a multiyear low against the US dollar.

India's Bharat Petroleum Corp Ltd. (BPCL) has purchased its first cargo of crude oil from Argentina, marking a significant shift in the company’s sourcing strategy.

In a historic development, Rosneft, Russia's state-owned oil giant, has signed an unprecedented agreement to supply 500K b/d of crude oil to Reliance Industries, marking the largest-ever energy deal between India and Russia.

Recent developments in Nigeria’s oil sector significantly impact the Dangote refinery, positioning it to address ongoing supply challenges while reshaping the broader market landscape with global implications. 

Hungarian oil group MOL has announced a delay in its transition to processing entirely non-Russian crude, now targeting the end of 2026 for this objective.

Recent adjustments in refining operations at key locations, including Italy's Falconara, Uzbekistan's Fergana, and China's Shandong, are reshaping global oil markets through changes in crude sourcing and processing practices.

Scotland’s sole crude processing facility, the Grangemouth refinery, is set to cease operations in the second quarter of 2025, as confirmed by Petroineos.

The STAR refinery in Türkiye, a significant purchaser of Russian Urals crude, is scheduled for an extensive maintenance period starting in early Sept.