South Korea: positioning to meet MO2020 demand. File image/Pixabay
South Korean refiner SK Innovation is planning a five-fold increase in low sulfur fuel production from next year.
The refiner's current output of 23,000 barrels a day (b/d) will rise to 130,000 b/d, the company has said according to price-reporting agency SP Global Platts.
Most of the very low sulfur product will be blended and supplied via the company's trading arm, SK Trading International.
In addition, some 40,000 b/d will arrive on market from SK's vacuum residue desulfurisation unit which will start commercial production in April, the report said.