BP Marine Unveils New Very Low Sulphur Marine Fuel
- Business & Finance
BP Marine, part of British oil and gas major BP, is starting the sale of very low sulphur fuel oil (VLSFO) as the IMO 2020 regulation deadline nears.
The VLSFO, with a maximum 0.5% sulphur content, meets new MARPOL regulations and is being introduced following sea trials with fuel manufactured and supplied by BP in the Amsterdam/Rotterdam/Antwerp (ARA) and Singapore hubs.
BP has developed a marine fuel offer that includes this new VLSFO along with marine gas oil and also high sulphur fuel oil for vessels that are equipped with scrubbers. The company said it intends to retail the new 0.5% sulphur VLSFO globally.
“We have undertaken a comprehensive test campaign, conducting ship-board trials of our new very low sulphur fuel,” said Eddie Gauci, Global Head, BP Marine.
“Following the success of these sea trials, and working closely with our customers, we believe we now have a robust commercial offer that will support customers in complying with MARPOL.”
The company further said that its refineries made a number of configuration changes to support the segregation, handling and storage of the new range of fuels.
BP, ExxonMobil Alaska LNG Project
In a separate announcement from last week, BP and ExxonMobil revealed an agreement with Alaska Gasline Development Corporation (AGDC) to collaborate on the Alaska LNG project. The three sides will work together on identifying ways of improving the project’s competitiveness, and progressing the Federal Energy Regulatory Commission authorization to construct the project.
“Our respective organizations share an interest in the successful commercialization of Alaska’s stranded North Slope natural gas,” AGDC Interim President, Joe Dubler, said.