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The Dangote refinery, completed in 2023, has been ranked higher than European refineries, and there are expectations that it will influence Atlantic Basin market.
Source: Argus. Looking at the monthly volume split of Russian pipeline exports to Poland, one can notice that the decrease is certainly there, however it can hardly be called drastic – compared to 312kbpd in 2017, the annual average last year stood at 285kbpd. In between those years quite a lot happened, among others the 2019 organic chloride contamination story that has blocked all transportation on the northern section of the Druzhba for a couple of months, as well as the 2020 OPEC+ revamp that has seen Urals surge to historically unprecedented premia. The most recent development, however...