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.

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 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.

Peruvian crude oil, particularly the Bretaña grade, has been increasingly purchased by US refiners.

US Refiners Brace for Canadian Tariffs and Mexico’s Export Shift to Asia and Europe

Refineries in China are sourcing alternatives to US crude after Beijing imposed a 10% tariff in response to Trump's additional import tax on Chinese goods.