![]() ![]() But analysts said the costs associated with this were still unclear. One option would be for the shipping sector to fit devices known as scrubbers, removing sulphur from fuel oil onboard instead of during the refining process. ![]() “It is unlikely that refiners will see a long-term incentive to invest in residual fuel desulphurisation capacity,” said Stefka Ilieva, fuel oil analyst at energy consulting group Poten and Partners.īased on current refining capacity and planned upgrades, Purvin and Gertz estimate bunker costs could soar by about $300 a tonne as a result of the switch to gas oil. #Licencia de envi 4.5 crack crack#The quantity (of fuel oil) consumed in this ECA is estimated at 20 million tonnes and that material is potentially going to shift to the 0.1 percent market,” said Colin Birch, vice president of energy consulting group Purvin and Gertz.Įuropean refiners are considering the legislation and will need to start investing in upgrades soon if they are to meet the potential surge in gas oil demand in 2015.īut with the differential of gas oil to crude oil - known as the crack spread - languishing near five-year lows many refineries are hesitant to commit funds. “We are expecting a step change in the gas oil market. Under legislation voted in by the United Nations’ International Maritime Organisation (IMO), new sulphur content specifications for ships operating in the Baltic, the North Sea and the English Channel will be revised down from 1.5 percent to 1 percent next July.ĭemand for shipping fuel, known as bunker fuel, in these key transport channels amounts to nearly a quarter of the European fuel oil market.ĭemand in the region for even the lightest fuel oil grades could collapse when a 0.1 percent cap is introduced in the original Emission Control Area (ECA) in Europe from January 2015, compelling shipping firms to switch to lighter gas oil. The package of measures will add to the woes of the dirtiest and least profitable oil product: sludgy, bottom of the barrel fuel oil left behind from refining more profitable motor fuels. LONDON, July 24 - New regulations that will force the shipping industry to switch to cleaner fuel could snuff out nearly a quarter of European demand for fuel oil by 2015. ![]()
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