[USPRwire, Tue Aug 20 2019] No.4
fuel oil: Market Overview No.4
fuel oil, a specific grade of distillate
fuel oil, is formed during distillation of crude oil by blending residual and distillate
fuel oils.
Stocks of low sulfur
fuel oil with maximum 0.5 percent sulfur components increased to 3 million mt or more around Singapore as
fuel oil traders prepare for the new sulfur cap in marine
fuel oil from January 2020, Platts reported previously.
Bunkering being an important part of the marine services portfolio offered by Hambantota International Port (HIP), the oil tank terminal in partnership with Sinopec
Fuel Oil Sales Co.
The increased demand pushed
fuel oil premiums higher since it occurred at the same time supplies typically become tighter during the Northern Hemisphere summer when
fuel oil consumption for power generation rises, particularly in the Middle East.
SOCAR Trading, a subsidiary of SOCAR, shipped at least three cargoes of
fuel oil from Novorossiysk in February, according to the sources.
Quarles Petroleum Inc., a regional provider of residential and commercial fuel headquartered in Fredericksburg, Virginia, has acquired the petroleum distribution business of Colonial
Fuel Oil, Mechanicsville, Virginia.
ClipperData said with the acquisition, it is integrating the real-time
fuel oil cargo data source with the in-depth
fuel oil news coverage and analytical reporting.
He said as phases of South Pars joint gas field came on stream, in the past one or two years the amount of gas injected to the nationwide network has dramatically increased, minimizing to the least possible level the delivery of the
fuel oil and gasoil, enabling the country to emerge as durable exporter.
These
fuel oil contracts will settle against the existing MOPAG 180cst and MOPAG 380cts assessments provided by price reporting agency Platts.
BEIRUT: Economy Minister Alain Hakim vowed Friday to crack down on monopolies in the distribution and sale of
fuel oil.