News Post
Spanish refinery aims to produce up to 2.5 M tons/yr low-sulfur fuel oil
Spanish refiner Cepsa aims to produce 2.2 million-2.5 million tons per year of shipping fuel that will be compliant with new IMO rules capping sulfur emissions, the head of marine fuels for Cepsa Trading said.
Cepsa has so far not secured any buyers for the new very low sulfur fuel oil (VLSFO), Carlos Giner Monleon told the Platts European Bunker Fuel Conference in Amsterdam.
Monleon said some customers tried the new fuel in tests at the end of February and at the end of April, but did not specify which customers.
From Jan. 1, 2020, ships will be required to burn fuels with a maximum 0.5% sulfur, down from 3.5% currently, International Maritime Organization (IMO) rules dictate.
U.S. buyout firm Carlyle Group has agreed to buy between 30 and 40% of Cepsa from Abu Dhabi state investor Mubadala.
(Reporting by Reuters)
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