Canada Chapter Event "Impacts of the IMO Sulphur Regulations on the Canadian Crude Oil Market"
12:00 p.m. - 1:30 p.m. Thursday, February 21, 2019
Burnet, Duckworth & Palmer LLP | 2400, 525 8th Avenue SW, Calgary, Alberta, Canada T2P 1G1
Allan Fogwill, President and CEO, Canadian Energy Research Institute
Join the Canada Chapter for "Impacts of the IMO Sulphur Regulations on the Canadian Crude Oil Market." Recent IMO regulations set a global limit for sulphur in fuel oil used to power ships at 0.5% (by mass) from the current 3.5% starting in Jan 2020. The regulations restrict emissions from ships plying international waters which could significantly change the crude oil landscape at regional & global levels. The change will propagate through the value chain; from the marine industry seeking replacement fuels to refiners producing bunker fuel & upstream oil producers who produce crudes that generate high sulphur residues used in bunkering.
Canada (CAN) is a major producer of high sulphur heavy crude oil which is refined primarily in CAN and the US, where there are sufficient capacities of complex refineries to handle this type of crude. Canadian bitumen contributes very little to bunkering as it is consumed by complex refining in CAN & US. CAN crude will have to compete for US refining space on netback refining value with other crudes that currently contribute to High Sulphur Fuel Oil (HSFO) supply.
A light lunch will be served.
Registration is $10 for members and $15 for non-members. Please register online by February 19 as space is limited.
Special thanks to event-sponsor: