The introduction of the International Maritime Organization's sulphur cap in 2020 will not stop production of high sulphur bunker fuel, with 60% of 33 global refineries confirming production will continue, according to a Reuters survey. Picture taken June 26, 2018. However, the study revealed 70% of plants will reduce output post-2020, with more than half set to produce other higher value products, such as gasoline and diesel. In addition, there is no guarantee that all refiners will meet their targets. Most refineries are investing less than $100m, but some are investing over $1bn to convert their plants.
The introduction of the International Maritime Organization's sulphur cap in 2020 will not stop production of high sulphur bunker fuel, with 60% of 33 global refineries confirming production will continue, according to a Reuters survey. However, the study revealed 70% of plants will reduce output post-2020, with more than half set to produce other higher value products, such as gasoline and diesel. In addition, there is no guarantee that all refiners will meet their targets. Most refineries are investing less than $100m, but some are investing over $1bn to convert their plants.