28MAR2019 - NEWS - Mitsui & Co of Japan will produce more heavy crude oil during this year

Japanese trading company Mitsui & Co will produce more heavy crude oil this year once projects in Australia and Italy are completed, in part boosting its ability to provide low sulphur marine fuel. Heavy crude production from the Tempa Rossa project in Italy could start soon, while the Greater Enfield project in Australia is on track to resume production by the middle of this year. The new production will be timely as output cuts by Saudi Arabia and U.S. sanctions on Iran and Venezuela have reduced the availability of high-sulphur heavy crude oil globally and lifted spot premiums for these grades.

Published by Editor - www.Livebunkers.com at 28-Mar-2019 06:50:34 [UTC] , contact editor at editor@livebunkers.com