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Hainan refinery ships low sulphur marine fuel

Sinopec’s subsidiary refinery in Singapore’s province of Hainan delivered its first shipment of low-sulphur bunker fuel, complying withe upcoming IMO 2020 sulphur cap regulation. Namely, a ship with 2,200 tonnes of low-sulphur fuel departed the Hainan refinery in late February heading to Ningbo on the east coast. The fuel will be put to pilot use at a maritime institution in Shanghai.

Greek oil refiner readies for 2020 sulphur cap

Hellenic Petroleum, one of Greece’s biggest oil refiners, informed on February 28 that two of its three refineries are already ready to comply with the 2020 sulphur cap. Specifically, its refineries in Elefsina and Thessaloniki have adjusted to the new rules. As for the third refinery in Aspropyrgos, which produces high sulphur fuel oil, it will comply with the new rules in November.

IUMI obliges refineries to conduct testing on low sulphur fuels

IUMI, the International Union of Marine Insurance, forces refineries to test on low sulphur fuels ahead of the introduction of the global sulphur cap on 2020. IUMI stated that fuel testing is undertaken by the end-user but this has to change. IUMI is calling for regulation that obliges refineries to guarantee the quality of their fuel and for vessel operators to improve their systems, processes and training to protect their vessels against the potential impact of using low sulphur bunkers.

EIA: US refiners and ocean vessels to change due to sulphur restrictions

EIA published that the implementation of new regulations on marine fuel will affect crude oil and petroleum product markets the following decade. The Administration focuses mainly on the long-term implications of the market changes that will involve changes to ships, marine fuels, refining, and some infrastructure in the next six to eight years.

Saudi Aramco to buy 20% stake in HHI’s refining subsidiary

Saudi Aramco aims to invest up to $1.6 billion for about for up to 19.9% of Hyundai Oilbank from Hyundai Heavy Industries Holdings, which owns 91.13% of Hyundai Oilbank. The latter has 650,000 barrels per day of refining capacity in the southwestern city of Daesan and plans to expand its petrochemical business. Saudi Aramco will probably value Hyundai Oilbank at 10 trillion won, or 36,000 won per share.

Gibson Shipbrokers expects 2.6m b/d to start operations in 2019

Gibson Shipbrokers published a Weekly Tanker Market Report, on January 25, based on EIA’s recent report that 2019 is expected to see the largest wave of refinery capacity additions. Gibson expects that 2.6 million b/d of new capacity will initiate operations this year. In terms of pure volumes, this is an optimistic sign for the product tanker market. Yet, the report focuses on how global product flows shape up.

Saudi Arabia discusses building oil refinery in South Africa

Saudi Arabia has its eye on constructing an oil refinery in South Africa as part of a pledge to invest as much as $10 billion in Africa’s most developed economy, according to Bloomberg. The Saudi Aramco and South Africa’s Central Energy Fund are to conduct joint surveys based on a refinery and petrochemical complex. The negotiations highlight South Africa’s aspiration to add a refinery, which it has under consideration for a decade.

Oil refining capacity to reach a record in 2019

According to EIA’s report, global oil refining capacity is expected to increase rapidly, resulting to a product boost from diesel, to gasoline, to marine fuel. The capacity will grow by 2.6 million barrels per day and the demand for the refined products will be approximately on 1.1 million barrels per day.

Saudi and Canadian cuts result to higher heavy crude demand

Output cuts in oil-rich Alberta and Saudi Arabia result to leaving heavy-crude refiners from the Gulf of Mexico to Asia in a challenging position. The Saudis are expected to mostly focus on paring output of heavy crude as they lead efforts to rebalance the global market, according to Bloomberg. Although curtailments in Canada have driven local prices at a record in almost a decade, others as Arab Heavy and Heavy Louisiana Sweet are also gaining a powerful position. 

Bunkering terminal to be built in Sardinia for IMO 2020 fuels

Saras will construct new bunkering terminal at its plant in Sardinia in order to market a cleaner marine fuel with even lower sulphur content which will be compliant with the IMO 2020 global sulphur limit. The Italian energy provider is investing in infrastructure that will allow ships to dock outside its 300,000-barrels-per-day Sarroch refinery in Sardinia to directly load ultra-low-sulphur marine fuel oil.

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