Middle East Refineries Sees Record Plunge In Gasoline Stockpiles

Stockpiles of gasoline and other light distillates at Fujairah on the UAE’s east coast plunged the most on record to the lowest level since at least 2017, pushing total oil products inventories to a 13-month low, reports S&P Global Platts.

The total on Oct. 26 stood at 18.465 million barrels, down 9.2% from a week earlier and the lowest since Sept. 9, 2019, according to data compiled by S&P Global Platts and released from the Fujairah Oil Industry Zone on Oct. 28.

Light distillates tumbled 31% at...

https://mfame.guru/middle-east-refineries-sees-record-plunge-in-gasoline-stockpiles/

IMO 2020 To Halt the European Refinery Boom?

According to a Bloomberg article, multiple oil refineries in Europe will be too unprofitable to continue trading once the industry has dealt with sweeping new rules governing shipping fuel that start next year, as suggested byo an executive at a U.K. plant.

Smaller Refineries To Be Outlawed?

Refineries globally are bracing for one of the biggest mandated changes in the the industry’s history — rules forcing the vast majority of ships to use fuel containing less sulfur. The regulations, widely...

http://mfame.guru/imo-2020-will-halt-the-european-refinery-boom/

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