Crude Processing

Europe is set to experience further closures in its refining sector in 2025, with nearly 400K  b/d capacity—about 3% of the region’s total—scheduled to shut down permanently

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.

Chevron USA. Inc. has successfully completed a major retrofit of its refinery in Pasadena, Texas, aimed at significantly improving its refining capacity and product flexibility.

Braya Renewable Fuels, Canada's largest renewable diesel (RD) producer, is considering an economic shutdown of its 18K b/d biorefinery in Come-by-Chance, Newfoundland, and Labrador, by the end of 2024.

The US biofuel sector is grappling with growing uncertainty surrounding the Clean Fuel Production Credit (45Z), a key provision of the Inflation Reduction Act (IRA) passed in 2022.

The new EUDR could lead to a significant shortage of PKO in the European market.

Phillips 66’s decision to close its Los Angeles Refinery by the end of 2025 marks a significant shift in the US state of California’s refining sector, a trend exacerbated by weak refining margins, rising compliance costs, and increasingly stringent environmental regulations

On Oct. 16, 2024, Phillips 66 revealed plans to close its Los Angeles-area refinery, P66-LA, by the end of 2025.