EMEA News
Lukoil to Offer 500,000 Tonnes of 0.10% Sulfur Bunkers in 2015
Russian oil company Lukoil next year is set to offer to the market 500,000 tonnes of its recently launched 0.10 percent maximum sulfur marine fuel product, PortNews reports.
Demand for such a product is expected to increase dramatically next year when new Emissions Control Area (ECA) rules take force on January 1, 2015, meaning vessels operating within an ECA must use a marine fuel with a sulfur content no more than 0.10 percent by weight.
Speaking recently at the Marine Fuels and Lubes 2014 conference in Moscow, Lukoil representative Roman Kovalchuk said that the market opportunity created by the new rules could see Lukoil's production of low sulfur fuels hit one million tonnes in 2015 and two million tonnes in 2016.
The low sulfur bunkers are to be produced by Lukoil-Permnefteorgsinetz and will have a sulfur content of 0.095 percent.
Lukoil says pricing for the product is yet to be decided.
Recently, ExxonMobil's HDME 50 product was said to be a "game changer" in the 0.10 percent sulfur fuels market.
