EMEA News
Sonatrach Mulls London Oil-trading arm
Wednesday August 1, 2018
Algeria's oil company Sonatrach may open an oil trading outlet in London to take advantage of the coming bunker fuel rule change, according to price-reporting agency Platts.
Blended product will be in demand once the 0.5% sulfur cap on marine fuel starts from 2020 and the Algerian oil company, whose Saharan blend crude typically contains 0.1% sulfur, could benefit from the post-2020 dynamism in the fuel oil market, the report said citing market sources.
Sonatrach has also taken over the Augusta refinery in Sicily.
The company was unavailable for comment, Platts said.
