Fuel oil premium hits record high in Fujairah ahead of big A/C power demand season hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Source: APICORP s MENA Energy Investment Outlook 2021-2025
Iran has been able to export crude and other products even as the US tightened sanctions targeting its oil sector sometimes in Iraqi waters, and marketed as Iraqi-origin, which led to Iraq s State Organization for the Marketing of Oil to issue at least three clarifications over the past six months on the specific floating storage vessels the company uses for its crude and fuel oil sales.
At an oil storage company in Fujairah, which typically sells an average of 30,000-40,000 mt of HSFO per month, sales have picked up to 40,000-50,000 mt/month in the past two months, a source said.
REFINERY NEWS ROUNDUP: Inventories at Fujairah rise, Middle East plants ramp up runs Saudi Arabia s middle distillate consumption fell 14.40% year on year in January, with the drop in jet fuel demand leading the decline, latest data from the Joint Organizations Data Initiative showed.
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FUJAIRAH DATA: Oil product stocks rise on week led by record jump in fuel oils | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
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Total stockpiles stood at 20.77 million barrels as of April 5, up 7.7% from a week earlier and the highest since March 1, according to Fujairah Oil Industry Zone data released April 7 exclusively to S&P Global Platts. Stocks of heavy distillates covering fuel oil for power generation and marine bunkers soared 36% over the same period to 11.211 million barrels, the highest since Jan. 18.
Fujairah-based bunker suppliers over the course of the week ended April 3 confirmed their ability to once again offer low sulfur marine fuel bunker for prompt delivery dates, after domestic supply was compromised earlier in March when Uniper Energy s 80,000 b/d refinery unexpectedly suffered an outage in the week of March 7, leading to both crude processing units shutting down.