Thailand-listed Thai Oil is planning to reduce the production of heavy fuel oil, says its President and Chief Executive during an annual general shareholders meeting, according to Bangkok Post.
The reduction will take place due to an expected preference for cleaner fuels and lower demand for traditional high sulphur bunker fuel oil coming 2020, says Atikom Terbsiri.
Heavy fuel oil currently accounts for 7% of Thai Oil’s total oil production.
Terbsiri, meanwhile, introduced a $3.7 billion upgrading and expansion project called Clean Fuel Products that aims to move away from the production of low margin grades such as fuel oil to higher value material including diesel and jet fuel.
The project will also increase refining capacity from the current 275,000 barrels a day (B/D) to 400,000 B/D.
"The new oil refinery unit is set to cut our operating costs sharply, while helping us increase the crude premium in a higher range of $3-4 per barrel," notes Terbsiri.
Photo credit: Thai Oil
Published: 13 April, 2018
Transferred shares of 40 subsidiaries to BVI firm after tribunal awarded claims in favour of Trinity Seatrading; YSPL has also filed a civil complaint against DNV and Liberian ship registry at Nanjing Maritime Court.
ADNOC L&S, Gulf Energy Maritime, Cockett Marine Oil, Mideast/Bahri Ship Management and VPS experts present their views on biofuel bunker hurdles at the VPS Biofuels Seminar in Dubai on 16 March.
‘Bunker barges operate in very local areas so these vessels call at port very often which means it will be a good fit for women with families,’ states Elpi Petraki, President of WISTA International.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Managing Director Darcy Wong tells bunkering publication Manifold Times in an interview.
Development to supply B35 biodiesel blend officially takes effect on 1 February; local bunker suppliers will be able to deliver updated spec within March onwards, once current stocks of B30 avails run out.
VPS, Global Centre for Maritime Decarbonisation, Wilhelmsen Ship Management, and INTERTANKO executives offered a multitude of perspectives to 73 attendees during the VPS Biofuels Seminar, reports Manifold Times.
31 Mar 2023