Crude Processing

Nigeria's state-owned NNPC is currently negotiating an extension to its six-month naira-denominated crude sales agreement with the 650K b/d Dangote refinery, which is set to expire this month.

Crude receipts at Saras' 300K b/d Sarroch refinery in Italy reached a six-year high in Feb., with the plant processing a trio of new crude grades in Feb. and Mar.

The specter of a 10% tariff on Canadian crude imports has cast a long shadow over US refining, particularly in the Midwest (PADD 2), a region deeply intertwined with Canadian energy flows.

The newly operational Dangote refinery in Nigeria, boasting a 650K b/d capacity, has broadened its crude sourcing strategy by purchasing its inaugural cargo of Algerian Saharan Blend crude.

The global used cooking oil (UCO) market is experiencing a period of significant flux, shaped by shifting trade policies and evolving demand patterns.

Despite growing sanctions and logistical difficulties, China’s independent refiners (aka teapots) maintained stable Russian crude oil imports in Jan. 2025.

In Feb. 2025, Turkiye's largest oil refiner, Tupras, ceased its purchases of Russian crude following U.S. sanctions targeting Russian energy companies and tankers.

The European Union's rapeseed crushing volumes increased in Jan., driven by strong Australian canola imports, while soybean and sunflower seed crushing declined.

The possibility of a 10% tariff on Canadian crude oil imports is not only raising concerns in Canada but also poses significant challenges for US refiners in the Midwest.

In 2024, China's used cooking oil (UCO) exports reached a record 2.951 MM mt, marking a 43.49% increase from 2023.