Crude Processing

BPCL is set to invest approximately $20B over the next five years to expand its refining capacity and petrochemical footprint, as well as to bolster its network of retail conventional fuel stations and electric vehicle (EV) charging locations..

Prax is a privately held company specializing in the trading, distribution, storage, and retail of fuels and petroleum products.

The West African OPEC member has recently taken strategic steps to bolster its oil supply and refining capabilities amidst ongoing challenges and international oil company divestments.

In June 2024, independent refiners in China's Shandong province ramped up their imports of Iranian crude by 4.3% to approximately 6.1MM mt (or 1.48MM b/d), marking the highest volume in eight months.

Nigeria's Dangote refinery, Africa's largest, is increasingly reliant on US light sweet crude oil (WTI) for its operations.

TMX Shifts Dynamics: US West Coast Refiners Embrace Canadian Crude vs. Iraqi Imports

Dangote Refinery, Africa's largest, launched operations in Jan. 2024 with ambitions to meet 100% of Nigeria's demand for refined petroleum products and export surpluses.

Binh Son Refining and Petrochemical, the operator of Vietnam's Dung Quat refinery in central Vietnam, has finalized a new contract with Vietsovpetro, the operator of Bach Ho, Vietnam's largest oil field, securing crude oil supply for the refinery from 2024 to 2027.

There is an evolving landscape of Light Louisiana Sweet (LLS) crude, a premium grade known for its low sulfur content and high API gravity.

Following the startup of the Trans Mountain Expansion Project (TMX) in May 2024, US refiners, including those on the West Coast, have experienced a tightening of margins.