Crude Processing

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.

Market participants anticipate a significant surge in worldwide supplies of used cooking oil (UCO), with estimates suggesting it will more than double to 31MM mt by 2030, up from the current 14MM mt.

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.

In the US, Calumet Specialty Products Partners LP subsidiary Montana Renewables LLC (MRL) has announced the inclusion of camelina oil as a new feedstock for its renewable fuels production at its manufacturing plant in Great Falls, Montana.

Veriflux, a US-based renewables traceability platform, has teamed up with the Indonesian Used Cooking Oil (UCO) Exporters Association (Aemji) to enhance tracing technology, potentially boosting Indonesian UCO trade with the US.

China's customs data reveals a significant surge in shipments of used cooking oil (UCO) to the United States, valued at nearly $390 MM over the past year and experiencing rapid growth.

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.