New Asia, Middle East Refineries Will Help Meet 2020 Marine Fuel Demand, Says BP Downstream CEO

by Ship & Bunker News Team
Thursday March 30, 2017

Tufan Erginbilgic, CEO for Downstream at BP P.L.C. (BP) says new refineries currently under construction in Asia and the Middle East will help meet the expected increase in demand for distillate fuel when the global 0.50 percent sulfur cap for marine fuel comes into force in 2020, Reuters reports.

And while the company says it also plans to modernise existing refineries, it has no current plans for additional refineries and reiterated earlier sentiment that it was ready for the new rules.

"Distillates will strengthen in the process at least early on," Erginbilgic told Reuters of the expected fuel demand in the context of the 2020 cap.

"Given the complexity of our refineries we are well positioned."

Erginbilgic also notes that 47 percent of BP's plants' output consists of distillates, while less than 3 percent is high sulfur fuel oil.