Sinopec eyes bigger slice of global bunker market

Chinese refiner to increase low-sulfur marine fuel oil production, distribution

China Petroleum and Chemical Corp, or Sinopec, the world's largest refiner by volume, is enhancing its low-sulfur marine fuel oil production and distribution capabilities to make rapid strides in the global bunker market, analysts said.

The Chinese company's move comes at a time when the International Maritime Organization has decided to make it mandatory for ships to use fuel oil with a sulfur content of below 0.5 percent, compared with 3.5 percent now, from next year, they said.