Chevron To Introduce Shipping Fuel In Compliance With New IMO Restrictions
In an initiative to reduce air pollution, International Maritime Organization (IMO) restricts ships to use fuel with not more than 0.5% of sulfur from 2020 in comparison to the current 3.5 percent of sulfur usage in fuel. Reportedly, Chevron Corporation (CVX) plans to introduce shipping fuel at the end of the third quarter with 0.5 percent of sulfur, in line with the IMO regulation.
Monique Vermeire, Chevron Fuels Technologist stated “If the shipping company is willing to try it out now we can make it available, but not for continuous purchase,” as per reports.
Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.
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