[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
Diff - Marine Fuel 0.5% FOB Rotterdam Barges (Platts) vs Fuel Oil
1% FOB NWE Cargoes (Platts) Future
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
Saudi Aramco, the world's largest oil exporter, is planning to eliminate fuel oil
production at its refineries within the next five years as emissions regulation shifts marine demand to cleaner fuels.
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