Crude Processing

March saw a notable decline in Malaysia's palm oil stocks, dropping by 7.3% to 1.78MM mt., despite a significant uptick in production, which rose by 11.9% to 1.41MM mt.

The country is exploring the potential of coconuts as an alternative feedstock for Sustainable Aviation Fuel (SAF) production, highlighting a shift towards more sustainable biofuel options in the aviation industry.

Spain's energy major Repsol SA has reached a significant milestone in the country's energy transition.

The Phillips 66 Rodeo refinery in California has undergone a significant transformation, shifting from conventional crude processing to becoming a renewable fuel facility.

The biofuel sector in the US is experiencing a remarkable surge, fueled by burgeoning demand for renewable diesel and sustainable aviation fuels (SAFs).

Repsol and Bunge have announced a strategic partnership to address the rising demand for lower carbon-intensity feedstocks for renewable fuels in Spain, aligning with EU regulations.

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.

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.