Pakistan Refinery Becomes the first to Produce International Standard Furnace Oil

Pakistan Refinery publish a notice on Pakistan Stock Exchange website that company will be producing IMO 2020 complaint Furnace oil from now. Notice further said that.

Imo-2020:

The refinery is presently producing the fuel (FO) of new
emission-standards enforced by the international maritime organization 2020
(imo-2020) carrying much higher price than high sulphur FO which was previously
produced.

Euro –II HSD

 

The refinery has also started producing the euro-II
compliant high speed diesel (HSD) w.e.f July 14, 2020.

This is enabled company to save the price differential and
high sulphur penalty imposed on the non-

Compliant HSD.

The above efforts are to improve future refinery –margins
and to help the company in achieving regulatory

 

Compliance. However, based on the present unstable business
situation and depending on the margins, the

 

Company will review its strategy regularly and, if required,
may change it accordingly

 

About IMO 2020

 The new regulations, known as IMO 2020, mandates a maximum sulphur content of 0.5% in marine fuels globally. The driver of this change is the need to reduce the air pollution created in the shipping industry by reducing the Sulphur content of the fuels that ships use.