Crude Processing

The International Energy Agency (IEA) has revised its 2024 global crude run forecasts, lowering estimates by 180K b/d from 83MM b/d  to 82.8MM b/d.

US major independent refiner has confirmed it will close its Wilmington, California refinery, with a capacity of 139K b/d, by the fourth quarter of 2025.

Vertex Energy Inc. has transitioned its hydrocracker at the Mobile, Alabama, refining complex back to conventional processing as of Oct. 9, 2024.

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.

In the US, California's regulatory framework is undergoing significant changes with the California Air Resources Board (CARB) advancing new restrictions on crop-based biofuels.

In France, Haffner Energy and Bambbco have announced a partnership aimed at optimizing biomass procurement for clean fuels production, focusing on utilizing crops grown on marginal land.

The refining sector is currently facing a significant downturn, signaling the end of a profitable supercycle that began post-pandemic

Recent developments in Indonesia, India, and Sweden highlight significant shifts in the global vegetable oil and renewable energy sectors, driven by unique economic and environmental goals.

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.