Global demand - be it from Asia, Africa, and now Europe - is increasing. The refining capacity in the Mideast region has also expanded, with refiners producing cleaner products, operating more efficiently, and optimizing resources to maximize production, in preparation to meet this growing demand.
How has the shifting global market, particularly East-West dynamics, affected your plans?
The refining landscape has changed. Our refineries have traditionally supplied products to the East, and Africa, where we’ve had a customer base for many years. While demand in the Global South remains strong, we’re also now serving Europe more than before because demand there has increased with many refiners shutting down. And we believe that demand will continue to grow. Our refinery is primarily for middle distillates, and with our recent expansion, we are doubling our diesel and jet fuel production, to service all markets. We also recently expanded into Latin America. Whether it’s Latin America, Africa, or Europe, we are continuously developing our customer base and collaborating with traders and regional players to reach these markets.