Crude Processing

In a historic development, Rosneft, Russia's state-owned oil giant, has signed an unprecedented agreement to supply 500K b/d of crude oil to Reliance Industries, marking the largest-ever energy deal between India and Russia.

Chevron USA. Inc. has successfully completed a major retrofit of its refinery in Pasadena, Texas, aimed at significantly improving its refining capacity and product flexibility.

Braya Renewable Fuels, Canada's largest renewable diesel (RD) producer, is considering an economic shutdown of its 18K b/d biorefinery in Come-by-Chance, Newfoundland, and Labrador, by the end of 2024.

The US biofuel sector is grappling with growing uncertainty surrounding the Clean Fuel Production Credit (45Z), a key provision of the Inflation Reduction Act (IRA) passed in 2022.

The new EUDR could lead to a significant shortage of PKO in the European market.

Phillips 66’s decision to close its Los Angeles Refinery by the end of 2025 marks a significant shift in the US state of California’s refining sector, a trend exacerbated by weak refining margins, rising compliance costs, and increasingly stringent environmental regulations

On Oct. 16, 2024, Phillips 66 revealed plans to close its Los Angeles-area refinery, P66-LA, by the end of 2025.

Canadian renewable fuel producers are experiencing challenges due to a surge in US renewable diesel imports.

In Aug., renewable feedstock usage in the US saw a slight dip, although it remained near historical highs.

The International Energy Agency (IEA) has revised its 2024 global crude run forecasts, lowering estimates by 180K b/d from 83MM b/d  to 82.8MM b/d.