Up to 40% of refineries in Europe and Middle East can stop producing bunker fuel - expert

Up to 40% of refineries in Europe and Middle East can stop producing bunker fuel, IAA PortNews correspondent cites Sergey Ivanov, Director of Marine Bunker Exchange (MABUX) AB, as saying at the 12^th Russian Forum “Current State and Prospects for Development of Russian Bunker Services Market” being held in Saint-Petersburg. 

According to him, that is because they are not ready to produce fuel complying with the IMO’s 0.5% sulphur cap to come into effect on 1 January 2020. Besides, an imbalance is possible in the oil market amid the surge of the demand for ‘light’ oil.

When speaking at the Forum, Alersandra Skoryna, representative of Gazpromneft Marine Bunker LLC, Gazprom Neft’s Omsk and Moscow refineries have confirmed their readiness to supply the bunker market with low-sulfur fuel oil.