Crude Processing

The Polish oil refiner Orlen has canceled its contracts for purchasing crude and oil products from Venezuela following the reinstatement of US sanctions, a decision underscored by significant financial losses and logistical challenges.

Nigeria's ambitious Dangote Group refinery, a $20B project, has encountered significant logistical and financial issues that impede its operation.

On the downside, this shift will erode the margins on what once was cheap Canadian crude oil for US refiners.

Chinese independent refineries, concentrated in Shandong province and Tianjin City, are strategically recalibrating their crude oil procurement strategies amid a dynamic market landscape.

Abu Dhabi National Oil Company's (ADNOC) refinery upgrade strategy and crude grade shift are expected to have an impact on global oil market dynamics.

Petroineos' Grangemouth refinery, located in Scotland with a capacity of 150K b/d, is set to resume seaborne crude imports through the repaired Finnart pipeline.

Nigeria's oil regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), is actively addressing challenges in implementing the Domestic Crude Oil Supply Obligation (DCSO) policy.

Chevron Mediterranean, in partnership with Leviathan natural gas field offshore Israel, has successfully initiated the flow of condensate from the field to the Ashdod oil refinery as of March 7.

PetroChina's Guangdong Petrochemical, located in southern Guangdong province, is poised to receive its inaugural cargo of Venezuelan Merey crude around March 23.

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.