According to an article published in Reuters, Spanish refinery Cepsa aims to produce 2.2 million-2.5 million tonnes per year of shipping fuel.
IMO complaint fuel
The new fuel will be compliant with new IMO rules capping sulphur emissions, the head of marine fuels for Cepsa Trading.
Cepsa has so far not secured any buyers for the new very low sulphur fuel oil (VLSFO), Carlos Giner Monleon told the Platts European Bunker Fuel Conference in Amsterdam.
Fuel tested by prospective buyers
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% sulphur, down from 3.5% currently, International Maritime Organization (IMO) rules dictate
The U.S. buyout firm Carlyle Group has agreed to buy between 30 and 40% of Cepsa from Abu Dhabi state investor Mubadala
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!