- A new LSFO marine fuel is making its way into the European market
- developed by OMV Petronum this 0.5% sulphur content fuel will be first of its kind to enter the Romanian market.
- A 3 million euro investment for 2 years made this production possible.
- 90% European Union Trade is done by the maritime route which is bound to be affected by this new fuel.
In a major development, OMV Petrom, the largest energy company in South-Eastern Europe, has announced that it has developed a new marine fuel oil with a low sulfur content of up to 0.5% at the Petrobrazi refinery, says a press release published on its website.
What’s so unique about the product?
This product is unique to the Romanian market. The fuel allows shippers to reduce sulfur emissions and to be compliant with the International Maritime Organization (IMO) 2020 regulations. The first delivery took place in Port Constanța, at the end of the last year.
How was the project done?
The process of obtaining low-sulfur marine fuel oil was possible with a EUR 3 million investment in the production logistics facilities at the Petrobrazi refinery. The implementation of the project took almost two years. By the end of last year, shipping carriers used heavy fuel oil with a sulfur content of 3.5%.
The new marine fuel oil obtained at the Petrobrazi refinery has only up to 0.5% sulfur content, in line with the IMO global sulfur limit applicable to the shipping industry starting from this year.
How will it help?
Up until the launch of this product, the Romanian market was supplied exclusively by import. From now on, at Petrobrazi refinery, at least 70Kt of marine fuel oil with low sulfur content can be produced annually, subject to production optimization to meet demand and maximize value added.
According to IMO, by limiting the sulfur content in ships’ fuel oil to 0.5%, an annual 77% drop in sulfur emissions can be achieved, which means 8.5 million metric tons of sulfur per year globally. This has a positive impact on the quality of life in the communities of the port and coastal cities.
According to European Commission data, 90% of the European Union`s external trade in goods is maritime and over 400 million passengers transit trough the European ports, annually.
OMV Petrom supports the maritime transport industry with a sustainable solution, both economically, as well as from the perspective of environmental protection.
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Source: OMV Petrom