St Petersburg, Russia (file image/pixabay)
Russian energy company Lukoil is aiming to produce between 360,000 metric tonnes (mt) and 480,000 mt of 0.5% sulfur bunker fuel a year to meet demand from January 1, 2020.
The production statistics, as reported by price reporting agency Platts, are an indication rather than set figures. The company is also to produce similar volumes of ultra low sulfur fuel oil and marine gasoil.
The numbers apply to the Russian bunker market only and do not include products and blending components made for export, a Lukoil spokesperson said as quoted by Platts.