Crude Processing

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.

Canadian renewable fuel producers are experiencing challenges due to a surge in US renewable diesel imports.

In Aug., renewable feedstock usage in the US saw a slight dip, although it remained near historical highs.

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.