German refiners are facing a ‘major challenge’ to replace imports of Russian crude by the year end after Europe’s biggest economy and world’s second largest buyer of Russian oil revealed plans to phase out almost all Russian supplies by the end of this year. Speaking March 25, Germany’s economy minister Robert Habeck said Russian oil .
Oil companies and refiners in Europe are increasingly moving away from purchases of Russian crude following Moscow’s invasion of Ukraine. Norway’s state-controlled Equinor is to stop trading or transporting Russian oil, it said late March 14, following a decision to exit its Russian joint ventures in response to the invasion of Ukraine. Shell was one .
Refineries in Europe are looking for alternative crude supplies as they shun Russian imports following Moscow’s invasion of Ukraine. Poland’s PKN Orlen is ramping up crude oil deliveries from Saudi Arabia and spot North Sea crude purchases following Russia’s invasion of Ukraine. “PKN Orlen reached an agreement on increased deliveries of five additional tankers from .
The volume of vehicle fuels supplied from storage facilities to the Spanish retail market in December increased 16% year on year to 3.3 million cu m (2.8 million mt), taking full-year 2021 volumes to a 13% increase, data published by national fuel distributor Exolum showed. December saw the second-highest monthly volume since the start of .
Business confidence is improving in the European refining sector, with oil companies in the region reporting higher margins amid downstream recovery, although high natural gas and hydrogen prices are starting to pose problems. Austria’s OMV saw its indicative refining margins double and raised its refinery utilization by six percentage points to 91% in the third .