Victor opens low-sulfur fuel refinery

Source: China Chemical Industry News June 27, 2019

Recently, a senior official of the world’s largest independent oil trader, Victor, said that the company has begun construction of a small refinery at a storage terminal in Malaysia that will produce low-sulfur fuel for ships.

Kho Hui Meng, President and CEO of Victor Asia, said the refinery will include a crude oil distillation unit with a daily processing capacity of 30,000 barrels, located at the company’s oil storage terminal in Tanjung Bin, Johor, southern Malaysia. The refinery is expected to be completed in May 2020 and will provide low-sulfur marine fuels together with Victor’s refinery in Fujairah, UAE.

Kho said that the new refinery in Malaysia will be able to produce a variety of low-sulfur crude oil, including US WTI crude oil, to comply with the current low sulfide trend and meet demand in a timely manner. At present, the world's major oil traders are hoarding low-sulfur marine fuels in preparation for next year's demand.