CERI Breakfast Overview - An Economic Assessment of the International Maritime Organizations Sulphur Regulations on Markets for Canadian Crude Oil
Event Date: November 28, 2018View Program
November 28, 2018
Breakfast 8:00 - 8:30 am
Presentation: 8:30 - 9:15 am
Question and Answer: 9:15 - 10:00 am
Roundtable Discussion with Experts 10:00 - 10:30 am
Bow Valley College
North Campus - Corner of 3 Street SE
Room N231 - Second Floor
332 6 Avenue SE
Recent IMO regs 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 regs 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 is a major producer of high sulphur heavy crude oil which is refined primarily in CAN & US where there are sufficient capacities of complex refineries to handle this type of crude. Canadian (CAN) 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.
Join CERI on November 28th at Bow Valley College for breakfast and an overview of the study findings.
Space is limited to 90 participants. Tickest $45 + GST.