Crude Processing

In a strategic move, Russian private oil producer Lukoil is set to provide a significant financial boost to SOCAR by extending a substantial $1.5B loan.

The Trans Mountain Expansion project, set to triple the volume of crude shipped from Canada's oil sands to its Pacific Coast, is poised to have significant ramifications on the North American energy landscape.

Asian and Persian Gulf refineries are set to maintain their dependence on Middle Eastern crude grades as their primary source of feedstock, regardless of price swings and changes in benchmark spreads.

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.

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