Crude Processing

In Feb., both Malaysia and India witnessed significant declines in palm oil exports and vegetable oil imports, respectively.

Bunge and Chevron Ag Renewables have joined forces to construct a state-of-the-art oilseed processing plant in located on the Gulf Coast in Destrehan, Louisiana, US.

The global palm oil market is poised for a significant transformation in 2024, driven by stagnating production in key regions and heightened demand for biodiesel.

Argentina's Medanito crude has reached a three-month high, driven by rising demand from US West Coast refineries in preparation for the upcoming summer driving season.

Petronas, the Malaysian state-owned oil company, has called on EU lawmakers to reconsider their stance on palm-oil-based biofuels, emphasizing cost advantages and expressing concerns about a just transition for Asian producers.

Oman's recently inaugurated $9B Duqm Refinery, a joint venture between Oman's state energy firm OQ Group and Kuwait Petroleum International, is set to undergo feasibility studies for processing heavier crude grades by the year-end, according to CEO David Bird.

Recent mergers and acquisitions (M&A) in the shale business are exerting a profound impact on US refineries, introducing shifts in the competitive landscape and operational strategies within the industry.

The country's crude oil imports witnessed an 8.6% surge in Jan., totaling 88.63MM bbl., marking the fifth consecutive month of year-on-year increase.

German Economy Minister Robert Habeck recently conveyed Poland's commitment to ensuring a stable crude oil supply for the Schwedt refinery in the event of potential nationalization of Rosneft's German activities, including its majority stake.

Investor sentiment took a hit as bp's Whiting refinery, the largest in the US Midwest, suffered a sudden shutdown on Feb. 1 due to a site-wide electricity failure.