31OCT2018 - NEWS - Russia is set to suffer the biggest revenue losses from IMO 2020 ship Fuel Rules

Russia is set to suffer the biggest revenue losses from rules mandating cleaner marine fuels from 2020, because the world’s top exporter of the sulfurous residual oil that powers ships doesn’t look prepared for the change. Refineries across the world are bracing themselves for the once-in-a-generation shift intended to reduce pollution caused by ships. While plants in Europe and the U.S. Gulf Coast seem well positioned to make the change to low-sulfur output, Russian companies have done little to prepare. The regulations prepared by the International Maritime Organization, commonly known as IMO 2020, mean ships must either purchase low-sulfur fuel or install scrubbers that remove the pollutant from their exhaust gases. The rules will cap sulfur content at 0.5 percent, down from 3.5 percent in most regions of the world now. That’s bad news for Russian oil majors that produce and process sulfurous Urals crude.

Published by Editor - www.Livebunkers.com at 31-Oct-2018 05:27:40 [UTC] , contact editor at editor@livebunkers.com