World News
Rosneft Starts VLSFO Production at Syzran Refinery
Russian energy producer Rosneft has started production of very low sulfur fuel oil (VLSFO) at its Syzran refinery in the south-west of the country, the company said Thursday.
The company started production of the fuel in early 2020, it said in a statement on its website.
In total Rosneft supplied just 112,000 mt of VLSFO to domestic and international customers in the first quarter.
Rosneft expanded sales of the product to ports in the Russian Far East, the Black Sea, the Arctic and the Baltic in April, it said.
Russian bunker sales have traditionally been supported by the ample output of high sulfur fuel oil from its refineries. Its ports may struggle to retain their share of the global marine fuels market in the era of lower-sulfur fuels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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