Calumet, Inc. is an independent producer of specialty hydrocarbon products and renewable fuels based in Indianapolis, Indiana. The company operates through three primary business segments: Specialty Products and Solutions, Montana/Renewables, and Performance Brands. Its traditional refining operations process crude oil into high-margin specialty products, including lubricating oils, solvents, waxes, and petrolatums used in consumer and industrial applications. The Montana/Renewables segment processes renewable feedstocks into sustainable aviation fuel (SAF), renewable diesel, and renewable naphtha, while also producing conventional fuels and specialty asphalt. Additionally, Calumet's Performance Brands segment blends and markets high-performance synthetic lubricants and packaged fuels under well-known consumer brands such as Royal Purple, Bel-Ray, and TruFuel. In 2024, the company completed a corporate restructuring, converting from a master limited partnership (MLP) to a C-Corporation to broaden its institutional investor base.
