South Korean output of VLSFO has increased by nearly 6,000tonnes a day as SK Energy’s new desulphurisation plant at its Ulsan refinery began operations, said the company in a statement on Sunday.
The upgrade of the new unit was completed three months ahead of schedule and further improves the availability of low sulphur fuels in the Asian region.
Even so, with the price of crude oil, both Brent and West Texas Intermediate, now apparently settling at the low US$20/bbl mark the spread between 380HFO and VLSFO remains very narrow in all regions, except in North America, where the differential remains stubbornly at above US$100.
