Vietnam’s first batch of marine fuel oil exported to Singapore
Vietnam’s first batch of marine fuel oil exported to Singapore
Binh Son Refining and Petrochemical Co., Ltd (BSR), the operator of Dung Quat Oil Refinery, has sold 6,000 tons of marine fuel oil (MFO) to Singapore’s BB Energy Company, the first batch of MFO to be exported by the refinery.
According to a new regulation from the International Maritime Organization (IMO), sulfur oxide emissions from vessels have to be reduced to less than 0.5% mass by mass from the current 3.5% mass by mass from January 1 next year, the local media reported.
BSR’s MFO has a sulfur oxide content of less than 0.5%, and the company can produce some 192,000 tons of MFO per year.
The company started studying MFO last year and successfully produced the product in its lab in September this year, garnering interest from three local and five foreign consumers.
In the January-November period of this year, BSR produced 6.4 million tons of the product, generating more than VND92.8 trillion in revenue and contributing VND8.7 trillion to the State budget.
Dung Quat Oil Refinery has been operating at 107% of its designed capacity.
