Crude Processing

The government is engaged in negotiations for an early end to the import of Russian crude oil and oil products, a move that would precede the expiration of the country's EU derogation allowing such imports.

Indian oil refining companies are navigating a dynamic landscape marked by strategic decisions and expansion aspirations.

Refiners in Europe are strategically adjusting their crude-oil choices in response to the surge in prices for North Sea sour crudes.

European refineries are grappling with the repercussions of a shift towards a lighter crude slate, prompted by the EU's ban on Russian Urals crude imports.

Spain's crude imports increased in June as Repsol, a major energy firm, brought its refinery units back online after maintenance and outages.

Shaanxi Yanchang Petroleum Group, a state-controlled entity, plans to double its purchases of Russian ESPO blend crude oil this year, reaching around 1MM mt.

U.S. oil refiner Phillips 66 and grain trader Archer-Daniels-Midland (ADM) are engaged in discussions for a potential biofuels joint venture with a specific focus on producing lower-carbon jet fuel.

Nigeria's recent decision to remove fuel subsidies has had significant repercussions on its domestic petrol demand and the regional market for smuggled fuel.

Japanese petrochemical producer Mitsui Chemicals plans to manufacture petrochemicals in Osaka using pyrolysis oil from plastic waste starting in Q1 2024.

In 2022, European refiners faced an 80% reduction in Russian crude imports into the EU, Norway, and the UK, amounting to 1.36MM b/d less than pre-war levels.