Crude Processing

China's independent refineries experienced a substantial 49% drop in heavy feedstock bitumen blend imports in Oct., with Shandong refineries hitting a three-month low of around 979K mt compared to September's 1.93MM mt.

The refining complex in Sicily, Italy, experienced a decline in crude oil receipts, with deliveries dropping from 245K b/d in Sept. to 225K b/d.

The Dangote oil refinery in Nigeria is poised to make a significant impact on the oil industry, and the Nigerian National Petroleum Corporation (NNPC) is playing a vital role in its development.

China's state-owned firm is making a strategic move to resume Venezuelan oil imports after a four-year hiatus.

In the month, Italy's Priolo refinery complex, owned by GOI Energy, witnessed a remarkable surge in US West Texas Intermediate (WTI) crude oil deliveries for the third consecutive month.

In the last month of 3Q, the Spanish Mediterranean port of Tarragona saw a shift in its crude oil deliveries as US West Texas Intermediate (WTI) crude usurped rival grades, establishing itself as the leading supply source.

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.