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New Citgo chief won’t sell out, making debt reduction a top priority

6 hours ago DieselGasoil Comments Off on New Citgo chief won’t sell out, making debt reduction a top priority
By David Wethe and Lucia Kassai on 8/23/2019 HOUSTON (Bloomberg) – Citgo Petroleum isn’t for sale, says the man named the company’s new leader by the opposition to Venezuelan President Nicolas Maduro. His priority moving forward is to prepare for a return to normalcy. “Many challenges” remain at Houston-based Citgo, Carlos Jorda said in his Read More

Indonesia’s Duri crude gets a boost from IMO 2020 demand for LSFO

14 hours ago DieselGasoil Comments Off on Indonesia’s Duri crude gets a boost from IMO 2020 demand for LSFO
Singapore — Indonesia’s Duri crude oil this month traded at strong premiums forAugust and September loading, driven up by blending requirements ahead of theIMO 2020 low sulfur marine fuel regulation, several trade sources said thisweek. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Both the August-loading and September-loading cargoes Read More

Cap on sulphur emissions to drive global demand for LNG as shipping fuel

14 hours ago DieselGasoil Comments Off on Cap on sulphur emissions to drive global demand for LNG as shipping fuel
8/23/2019 DUBAI – Demand for LNG as a conventional source of energy in the maritime industry will continue to grow because of its technological advantages in meeting the standards and requirements in limiting the emissions of sulphur, a greenhouse gas. According to marine fuel expert Sergey Ivanov, the global sulphur cap of 0.5%, which is Read More

Malaysia’s Mahathir says linking palm oil to deforestation ‘baseless’

21 hours ago DieselGasoil Comments Off on Malaysia’s Mahathir says linking palm oil to deforestation ‘baseless’
KUALA LUMPUR (Reuters) – Malaysian Prime Minister Mahathir Mohamad on Friday said linking the production of palm oil to deforestation was “baseless, unfair and unjustified”, and that the industry has grown responsibly. FILE PHOTO – Land that has been cleared is pictured at an oil palm plantation in Johor, Malaysia February 26, 2019. REUTERS/Edgar Su Read More

Singapore HSFO/marine fuel oil spreads touch fresh highs ahead of IMO 2020

22 hours ago DieselGasoil Comments Off on Singapore HSFO/marine fuel oil spreads touch fresh highs ahead of IMO 2020
Singapore — The spread between Singapore high sulfur and Marine 0.5% sulfur fuel oil for the prompt months have widened to fresh highs on Thursday, as fundamentals for the fuel oil industry adjust before the International Maritime Organization’s sulfur mandate kicks in January 2020. Not registered? Receive daily email alerts, subscriber notes & personalize your Read More

Trade tariffs seen muting IMO 2020 impact for US refiners

1 day ago DieselGasoil Comments Off on Trade tariffs seen muting IMO 2020 impact for US refiners
New York — Weakening export demand for US-made products is skewing the impact of the change to cleaner ship fuel on US refined products as marine gasoil prices fall and cracks widen ahead of the IMO’s mandated January 1, 2020, deadline to reduce sulfur content to 0.5% from 3.5% . Not registered? Receive daily email Read More

Oil slides as weak US manufacturing PMI spurs demand growth concerns

1 day ago DieselGasoil Comments Off on Oil slides as weak US manufacturing PMI spurs demand growth concerns
New York — Oil futures settled lower Thursday as demand concerns took center stage amid weaker US economic data. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX October WTI settled down 33 cents at $55.35/b and ICE October Brent was down 38 cents at $59.92/b at market close. Read More

Westport Fuel Systems Announces New Chief Financial Officer

1 day ago DieselGasoil Comments Off on Westport Fuel Systems Announces New Chief Financial Officer
VANCOUVER, B.C., Aug. 22, 2019 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems“) (TSX:WPRT / Nasdaq:WPRT) today announced the appointment of Richard Orazietti as Chief Financial Officer (“CFO“) effective September 3, 2019. Mr. Orazietti has had a distinguished career as a finance leader with expertise across multiple finance disciplines and extensive experience working Read More