New low-sulphur crude to be introduced into Asia

New Asian oilfields are about to produce some 120,000 barrels a day of high-quality, low-sulphur oil.

The low sulphur oils should appeal to simpler refiners, as more Asian countries switch to lower-sulphur petroleum products to reduce worsening pollution.

Even though the fresh barrels won’t fully offset declining output elsewhere in the region, the spread between Tapis and Brent crude should be shortened.

50,000 barrels per day will come from phase one of Murphy Oil’s deepwater Kikeh field in Malaysia.

25,000-30,000 barrels from the Puffin field, are set to come onstream between now and the end of September.

Argentina Star