Pavel Sorokin, the Deputy Minister of Energy of the Russian Federation, shared at the 12th international Transport of Russia conference on the country’s preparations for IMO 2020.
“Russian manufacturers will cope with it. The measures that that government is taking to stimulate and accelerate the transition from heavy fuel oil to low-sulphur fuel, are already bringing effect. There is a potential, and the risks are minimal,” he said, as quoted by Sea News.
Sorokin noted the Russian marine fuels industry supplying approximately 13 million metric tonnes (mt) of bunkers, with heavy fuel oil (HFO) taking up about 10 million mt.
However, he forecast a two-fold decline in HFO consumption by 2021.
“As a result, the cost of low-sulphur fuel will grow considerably. How to administer this, is yet to be decided. Time will show,” he said.
To help the transition from HFO to low sulphur marine fuel, the Ministry of energy will offer refinery companies special privileges to produce low sulphur fuels, adds Sorokin.
“We will offer a small premium for every ton of low-sulphur fuel in the Baltic and in the Far East basin,” he said.
Published: 26 November, 2018
Cash of SGD 4.43 million and USD 243,100, and one piece of 100-gram gold-coloured bar recovered in safe belonging to Abdul Latif Bin Ibrahim kept at Extra Space warehouse storage facility, show court documents.
Program introduces periodic assessments, mass flow metering data analysis, and regular training for relevant key personnel to better handle the MFMS to ensure a high level of continuous operational competency.
U.S. Claims Register Summary recorded a total USD 833 million claim from a total 180 creditors against O.W. Bunker USA, according to the creditor list seen by Singapore bunkering publication Manifold Times.
Glencore purchased fuel through Straits Pinnacle which contracted supply from Unicious Energy. Contaminated HSFO was loaded at Khor Fakkan port and shipped to a FSU in Tanjong Pelepas, Malaysia to be further blended.
Individuals were employees of surveying companies engaged by Shell to inspect the volume of oil loaded onto the vessels which Shell supplied oil to; they allegedly accepted bribes totalling at least USD 213,000.
MPA preliminary investigations revealed that the affected marine fuel was supplied by Glencore Singapore Pte Ltd who later sold part of the same cargo to PetroChina International (Singapore) Pte Ltd.